International Banking and Risk Review
Scotiabank
Economic Outlook in Key Markets
Real GDP Growth %
2000-2007
2008e
2009f
2010f
Avg.
Mexico
2.9
1.3
(4.5)
1.7
Peru
5.1
9.8
3.5
3.8
Chile
4.4
3.2
(1.0)
2.0
Jamaica
1.5
(0.6)
(3.0)
0.5
Trinidad &
8.2
3.0
(0.5)
2.5
Tobago
Costa Rica
4.7
3.0
(0.5)
1.5
DR
5.4
5.3
0.0
1.5
2009f
2010f
Canada
(2.6)
1.7
U.S.
(2.9)
1.8
Source: BNS Economics, as of May 26th
Scotiabank
41
Scotia Capital
Record Quarter, Despite Rise in PCLs
($MM)
Q2/09
Q1/09
Change
Q/Q
NII
345
338
+7
Comments on Q/Q Movements
■ wider spreads & higher loan origination fees,
partially offset by small decrease in average loans
Other
502
366
+136
stronger trading revenues
Income
Expenses
231
291
+60
■ lower performance based compensation & other
personnel costs
■ Q1/09 expense level was high vs. 8 quarter average
■ $50MM auto sectoral provision
PCL
159
10
(149)
Net Income
328
300
+28
■ One large U.S. account & a few smaller accounts in
the U.S. & Canada
■record quarter
strong & diversified revenues & lower expenses
offset higher PCLs
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