Q3/11 Financial Performance and Outlook
Luc Vanneste
Executive Vice-President &
Chief Financial Officer
Financial Review
Fundamentals Delivering Positive Results
Scotiabank
Scotiabank
Q3/11 Q2/111
Q/Q
Q3/10
Y/Y
$1,285 $1,257
2%
Net Income ($MM)
$1,0862
18%
$1.11
$1.10
1%
EPS
$0.98
13%
17.8%
18.5%
(70) bps
ROE
18.2%
(40) bps
54.5%
55.3%
80 bps
Productivity Ratio
52.5%
(200) bps
Year-over-Year Comparison
Q3 earnings benefited from...
• Solid organic growth
• Increased contribution from acquisitions
Partly offset by...
Investments in growth initiatives
• Lower trading revenues
•
Improved PCLS
•
Strong Canadian dollar
(1) Excluding $286MM impact from acquisition-related gains
(2) Represents net income before deducting non-controlling interest to ensure comparability with 2011 results
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