Q3 2008 Financial Overview

€ Scotiabank % 1.86 Increase in All-Bank Net Interest Margin All Bank 1.87 1.79 1.79 1.76 2.56 Domestic 2.49 2.52 2.35 2.33 International 4.32 4.27 4.18 4.14 4.10 0.59 Scotia Capital 0.96 0.69 0.66 0.60 All-Bank margin: +3 bps qtr/qtr Domestic margin: +3 bps qtr/qtr + lower funding rates International margin: +4 bps qtr/qtr + higher spreads in Mexico & Caribbean & Central America - lower margins in Peru Scotia Capital margin: +6 bps qtr/qtr + higher spreads in Canada & United States + lower trading assets Q3/07 Q4/07 Q1/08 Q2/08 Q3/08 Scotiabank 0.50% 0.40% 39 Relative NPL Performance Net Impaired Loans as % of Total Loans and Acceptances 0.39% 0.47% 0.36% 0.32% 0.30% 0.25%0.24% 0.25%0.26% 0.26% 0.20% 0.10% 0.00% Q3/07 Q4/07 Q1/08 BNS 4 Cdn. Bank Peers 40 Q2/08 Q3/08

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