Scotiabank Investor Presentation

Latin America - a foundation for growth 17 Chile: Assets: $4 billion Staff: 1,750 Branches: 78 ABMS: 120 Consolidated in Q2/00 results • Mexico: - letter of intent signed to increase ownership in Inverlat to 55% ➤ total investment = US$220 million purchase agreement to close end of July 200 150 Scotia Capital Net income, $ millions • 100 50 50 0 Q2/99 Q2/00 30% growth in fee income offset by higher credit losses Initiatives: US Debt Fund • Securitization in Europe Leveraging global reach ➤ cash management, IBOS ➤ Mexican-based auto parts industry 18 9

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