International Banking and Risk Review

Strong Year-over-Year Asset Growth Scotiabank average assets, $ billions. 14% (2)% 529 519 519 Residential mortgages 113 455 111 111 106 Personal loans 50 52 52 & credit cards 44 135 133 Business & 133 government 111 (includes BA's) 97 104 Securities 104 98 119 Other 96 Q2/08 Yr/Yr Q2/09 Business & government loans: +19% Personal loans: +18% Residential mortgages: +5% Scotiabank 11 134 119 Q1/09 Qtr/Qtr Q2/09 Personal Loans: +4% Business and government loans: (2)% Residential mortgages: (2)% Higher Net Interest Margin (%) 1.76 1.79 1.68 1.71 1.53 Q2/08 Q3/08 Q4/08 Q1/09 All-Bank: +18 bps qtr/qtr + improved lending margins Q2/09 + favourable change in fair value of financial instruments - continued competitive pressures 12

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