Strengthening Capital and Wealth Management Presentation
Scotia Capital: Positive Results of Diversification
15
Scotiabank
391
Net Income
($ millions)
357
308
Q2/10
Q1/111
Q2/11
•
•
Year-over-Year
⚫ Revenues down 7%
+ Asset growth, primarily in securities, reflecting
expansion of fixed income initiative
- Lower results in institutional equity
⚫ PCL of $10MM vs. $(24)MM in Q2/10
Expenses up 20%
- Higher remuneration and benefits expenses
- Higher support costs for growth initiatives
Quarter-over-Quarter
Revenues down 1%
+ Stronger fixed income and investment banking
results
- Modest decrease in other trading businesses
⚫ PCL of $10MM vs. $(3)MM in Q1/11
Expenses down 7%
+ Lower stock-based compensation
- Higher technology expenses
(1) Restated due to adopting new accounting standards
Other Segment¹
Scotiabank
($ millions)
Q2/10
Q1/11
Q2/11
Funding Net Interest Income
(105)
(75)
(75)
Net Securitization Revenues²
(112)
(70)
(78)
AFS Securities Writedowns
(11)
(42)
(6)
Financial Instruments
24
31
60
Expenses & Net Other Items
12
(22)
(56)
TEB Offset
(71)
(71)
(69)
Taxes
Total
80
61
75
(183)
(188)
(149)
16
(1) Includes Group Treasury and other corporate items, which are not allocated to a business line
(2) Represents the impact on the Other segment of CMB securitization revenues recognized in other income, and the
reduction in mortgage net interest income earned as a result of removing the mortgages from the balance sheet
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