2008 Financial Overview and Trading Results
Scotiabank
Other Segment (1)
Impacted by Writedowns
Q4/08 vs. Q4/07 net income
- increased funding volumes, relatively higher
cost for liquidity & hedging of interest rate risk
- lower underlying securities gains
+ higher securitization revenues
+ lower expenses
Net Income
($ millions)
Q4/07 Q3/08
Q4/08
Reported
(73)
(85)
(422)
Items of
Note (2)
39
235
Underlying
(34)
(85)
(187)
Q4/08 vs. Q3/08 net income
- increased funding volumes, relatively higher
cost for liquidity & hedging of interest rate risk
- lower underlying securities gains
+ higher securitization revenues
+ lower expenses
(1) includes Group Treasury and other corporate items, which are not allocated to a business line
(2) see slides 35 and 36 for more details on items of note.
41
Gross Impaired Loan Formations
Scotiabank
Q4/08. $ millions
Canadian Banking
- Retail
- Commercial
International Banking
Retail
- Commercial
277
39
316
215
78
293
Scotia Capital
- U.S.
6
- Canada & Other
6
Total
615
Canadian Retail: formations reflect growing
portfolio size; underlying credit trends remain
very good
Canadian Commercial: underlying credit
quality stable
International Retail: formations across
division, largely reflecting underlying growth
and increase in delinquencies
International Commercial: mainly additional
classifications in Chile
Scotia Capital: additional classification in one
account in the U.S.
42View entire presentation