Investor Presentaiton
Scotiabank
373
Net Income
($ millions)
466
438
Q1/08
Q4/08
Q1/09
Canadian Banking
-
Solid Quarter
Q1/09 vs. Q4/08 net income: down 6%
- revenues down 1%
-
lower margin due to competitive pricing pressures
on deposits & higher liquidity costs
+ strong deposit growth
+ expenses down 1%
+ seasonally lower initiative & discretionary
spending
provisions up $48MM
Q1/09 vs. Q1/08 net income: up 18%
+ revenues up 13%
+ strong asset & deposit growth
mortgages +11%, Scotia Line +15%
personal term deposits +10%, cheq./savings +12%
+ higher margin due to lower funding interest rates
expenses up 5%
acquisitions & full yr. impact of '08 growth initiatives
provisions up $64MM
13
Scotiabank
Net Income
($ millions)
289
227
International Banking
Record Quarter
388
Q1/08
Q4/08
Q1/09
Q1/09 vs. Q4/08 net income: up 71%
+ revenues up 21%
+ strong volume & transaction-driven growth
+ positive impact of forex
+ securities write-downs in Q4/08
lower margin
expenses up only 2%
negative impact of forex
provisions up $26MM
Q1/09 vs. Q1/08 net income: up 34%
+ revenues up 36%
+ forex & acquisitions
+ organic volume growth, strong forex revenues &
-
higher transaction-driven revenues
lower margin, higher securities gains in Q1/08
expenses up 36%
■ expenses up 16% excl. forex & acquisitions
branch expansion & Q1/08 expense recoveries
provisions up $86MM
-
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