Strong Quarter Financial Performance
Scotia Capital:
Solid Quarter, Challenging Trading Environment
470
Net Income
($ millions)
391
305
Year-over-Year
■ Revenues down 37%
- Lower trading revenues
- Significantly lower loan volumes
- Lower MTM gains
PCLs down $131MM (1)
Expenses flat
Quarter-over-Quarter
Q3/09
Q2/10
Q3/10
■ Revenues down 19%
- Lower revenues in fixed income and
institutional equity
- Lower loan volumes
- Lower MTM gains
■ PCLs down $1MM (1)
Expenses down 11%
+ Lower performance-based compensation
(1) Includes reversal of Scotia Capital portion of auto sectoral provisions of $19MM in Q2/10 and $18MM in Q3/10.
Scotiabank
Other Segment (1)
($ millions)
Q3/10
Q2/10
Q3/09
Funding Net Interest Income
(117)
(105)
(94)
Broker Deposits (2)
--
(57)
Net Securitization Revenues (3)
(110)
(112)
(96)
AFS Securities Writedowns
5
(11)
(95)
Financial Instruments (4)
(6)
24
--
General Provision
--
(100)
Expenses & Net Other Items
20
36
(41)
TEB Offset
(70)
(71)
(68)
Taxes
124
72
200
Total Other
(164)
(166)
(351)
(1) Includes Group Treasury and other corporate items, which are not allocated to a business line
(2) Effective Q1/10, Broker deposits were transferred to Canadian Banking
13
(3) Represents the impact to the Other segment of CMB securitization revenues recognized in other income, and the reduction in mortgage net interest income
earned as a result of removing the mortgages from the Balance Sheet
(4) In Q3/09 Financial Instruments was reported in Funding Net Interest Income, as well as Net Other Items
Scotiabank
14View entire presentation