Investor Presentation Third Quarter, 2008
Scotiabank
Higher Revenues - Strong Asset Growth,
Broad-based Fee Income Increases
Revenues (TEB)
3,302
($ millions)
3,477
3,272
1,428
1,389
1,299
1,913
1,973
2,049
Q3/07
Q2/08
Q3/08
Net Interest Income (TEB)
☐ Other Income
Q3/08 vs. Q3/07 revenues: up 5%
■ net interest income up 7%
+ strong organic asset growth, particularly mortgages
and corporate loans
+ acquisitions
- lower net interest margin
■ other income up 3%:
+ broad-based gains in credit fees, securitization, cards,
deposit & payment services, mutual funds
- lower trading, mainly derivatives & forex vs. Q3/07 peak
- lower securities gains
Q3/08 vs. Q2/08 revenues: up 6%
■ net interest income up 4%
+ asset growth, longer quarter
■ other income up 10%
+ higher investment banking fees, including record Scotia
Waterous
+ stronger trading, including derivatives
+ higher securities gains including IPO gain in Mexico
7
Scotiabank
average balances, $ billions
Asset Growth Continues
12%
457
409
111
96
45
+ residential mortgages up 15%
40
116
+ personal loans up 13%
90
97
96
86
Q3/07
89
Q3/08
Residential mortgages
Personal loans
■Business & government (includes acceptances)
Securities
Other
8
+ business & gov't loans up 29%View entire presentation