Q1 2010 Scotiabank Risk Review and Outlook
Stable Net Interest Margin
(%)
1.76
1.74
1.76
1.71
1.52
Q1/09 Q2/09
Q3/09 Q4/09
Q1/10
Q1 margin benefited from...
• Wider spreads on retail assets in
Canadian Banking
Offset by...
• Increase in low yielding DWBs
•
Positive impact of FI
•
Decrease in non-earning assets
Scotiabank
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Canadian Banking:
Higher Margin, Wealth Management Revenues
Revenues (TEB)
($ millions)
1,886
1,921
1,702
1,199
1,192
1,034
391
365
408
277
322
321
Q1/09
Q4/09
Retail & Small Business
Q1/10
Q1/10 vs. Q4/09 Revenues
+ Increased Commercial Banking revenues due to:
+ Lower write-down on securities
+ Increased credit fees
+ Higher spreads
Q1/10 vs. Q1/09 Revenues
Retail & Small Business
+ Higher margin
+ Increased assets & deposits
Commercial Banking
+ Higher credit fees
-
Lower asset levels, decrease in margin
Wealth Management
+ Higher mutual fund fees due to strong net sales,
increased asset values & CI
+ Stronger full service brokerage & Private Client
Group revenues
Commercial Banking
Wealth Management
Scotiabank
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