Trading Revenue and Financial Performance Analysis

Scotiabank Scotiabank Risk Review John Crean Senior Executive Vice-President Global Risk Management 29 29 Risk overview ■ Net impaired loans: $620mm ➤ down $399mm from Q3/02 • Argentina: ($243mm) • • Other: ($156mm) ■ Continued credit challenges in U.S. ➤ particularly power sector ■ Maintained high provisioning level in Q4/02 ➤ $475mm (ex. Argentina) vs. $400mm in Q3/02 30

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