Strengthening Capital and Wealth Management Presentation

Anatol von Hahn Group Head, Canadian Banking Canadian Banking: 2011 Outlook Canadian Banking 2011 Outlook Scotiabank • Market share increase in a slow growth environment 22 • Retail deposits Small business Mortgages Continued slower retail asset growth with intense competition and moderating consumer borrowing demand • Growing our payments business Scotiabank Commercial asset growth has been consistent and is expected to remain so for the remainder of 2011 Continued deposit and cash management focus • Retail PCLs trending down and Commercial PCLs steady . Expenses will trend up with continued investment in the business 11 11

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