Scotiabank Risk Review

Scotiabank Domestic - steady upward performance Net income, $ millions $292 $279 * $233 * Solid asset growth yr/yr A Personal loans +6% Residential mortgages +7% Innovative products Scotia Line VISA ↑ 125+ bps Expenses well contained ➤ up 2.5% yr/yr Best of class retail risk profile PCL 22bps in Q1/02 Q1/01 Q4/01 Q1/02 * Q1: Gain on sale of Quebec branches; Q4 gain on sale of Corporate Trust Scotiabank 21 Growing Wealth Management ■ Mutual fund success A A assets +24% bank market share +98bps Expanding brokerage business acquisition of Charles Schwab Canada ➤ "ScotiaMcLeod Direct Investing" brand ■ New sales force 400 financial planners ■ 12 new private client centres 222 22

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