Scotiabank Earnings Performance Review
Scotiabank
average balances, $ billions
Asset Growth Continues
404
13%
455
106
33
93
44
40
111
89
98
104
78
Q2/07
96
Q2/08
Residential mortgages
Personal loans
■Business & government (includes acceptances)
Securities
Other
9
+ residential mortgages up 14%
+ personal loans up 11%
+ business & gov't loans up 25%
Scotiabank
Higher Expenses
Investing in Growth Platforms
Non-interest expenses
($ millions)
1,794
1,726
1,669
1,005
1,004
978
359
329
327
393
430
364
Q2/07
Q1/08
Q2/08
Q2/08 vs. Q2/07 expenses: up 4%
+ higher salaries, higher premises & technology
due to branch expansion, acquisitions
+ higher professional fees
- lower performance-based compensation
- favourable forex impact
Q2/08 vs. Q1/08 expenses: up 7%
+ higher performance based compensation in
line with improved trading results
+ full quarter of Chile acquisition
+ higher advertising & professional fees
+ unfavourable forex impact
- lower stock-based compensation
Salaries & employee benefits
■Premises & technology
Other
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