Trading Revenue and Financial Performance Analysis
Scotiabank
Power & energy trading exposure
Loans & acceptances, $ millions
Sector
Investment
Grade
Non-Investment
Grade
Total
Q4/02 Q3/02
Q4/02 Q3/02
Q4/02 Q3/02
Regulated Utilities
Diversified Generation
1,213
757
630
330
1,843 1,087
206
789
696
789
902
Independent Power
Projects with PPAs
558
343
475
376
1,033 719
Other Power Projects
202
320 1,005
878
1,207 1,198
Total
1,973
1,626 2,899
2,280
4,872 3,906
Gross Impaired Loans: $348mm, Net $186 mm
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Power & energy trading - coverage
Scotiabank
Oct. 31, 2002
Gross Loans
Sector
$MM
$MM
Gross Write-offs, Net
Reserve
& BAs
Impaired Provisions Impaired Coverage
(before w/o) (before w/o)
%
$MM
$MM
%
Regulated Utilities
1,843
3
1
2
33%
Diversified Generation
883
306
35%
182
124
59%
Independent Power
1,057
Projects with PPAs
S
53
5%
44
9
83%
Other Power Projects
1,207
104 9%
53
53
51
51%
TOTAL
4,990
466 9%
280
186
60%
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