Canadian and International Banking Performance Overview
Scotiabank
Investor Presentation
Fourth Quarter, 2010
December 3, 2010
Caution Regarding Forward-Looking Statements
Forward-looking statements Our public communications often include oral or written forward-looking statements. Statements of this type are included in this
document, and may be included in other filings with Canadian securities regulators or the U.S. Securities and Exchange Commission, or in other
communications. All such statements are made pursuant to the "safe harbour" provisions of the United States Private Securities Litigation Reform Act of 1995
and any applicable Canadian securities legislation. Forward-looking statements may include comments with respect to the Bank's objectives, strategies to
achieve those objectives, expected financial results (including those in the area of risk management), and the outlook for the Bank's businesses and for the
Canadian, United States and global economies. Such statements are typically identified by words or phrases such as "believe," "expect," "anticipate," "intent,"
"estimate," "plan," "may increase," "may fluctuate," and similar expressions of future or conditional verbs, such as "will," "should," "would" and "could."
By their very nature, forward-looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, and the risk that
predictions and other forward-looking statements will not prove to be accurate. Do not unduly rely on forward-looking statements, as a number of important
factors, many of which are beyond our control, could cause actual results to differ materially from the estimates and intentions expressed in such forward-looking
statements. These factors include, but are not limited to: the economic and financial conditions in Canada and globally; fluctuations in interest rates and currency
values; liquidity; significant market volatility and interruptions; the failure of third parties to comply with their obligations to us and our affiliates; the effect of
changes in monetary policy; legislative and regulatory developments in Canada and elsewhere, including changes in tax laws; the effect of changes to our credit
ratings; amendments to, and interpretations of, risk-based capital guidelines and reporting instructions and liquidity regulatory guidance; operational and
reputational risks; the risk that the Bank's risk management models may not take into account all relevant factors; the accuracy and completeness of information
the Bank receives on customers and counterparties; the timely development and introduction of new products and services in receptive markets; the Bank's
ability to expand existing distribution channels and to develop and realize revenues from new distribution channels; the Bank's ability to complete and integrate
acquisitions and its other growth strategies; changes in accounting policies and methods the Bank uses to report its financial condition and the results of its
operations, including uncertainties associated with critical accounting assumptions and estimates; the effect of applying future accounting changes; global
capital markets activity; the Bank's ability to attract and retain key executives; reliance on third parties to provide components of the Bank's business
infrastructure; unexpected changes in consumer spending and saving habits; technological developments; fraud by internal or external parties, including the use
of new technologies in unprecedented ways to defraud the Bank or its customers; consolidation in the Canadian financial services sector; competition, both from
new entrants and established competitors; judicial and regulatory proceedings; acts of God, such as earthquakes and hurricanes; the possible impact of
international conflicts and other developments, including terrorist acts and war on terrorism; the effects of disease or illness on local, national or international
economies; disruptions to public infrastructure, including transportation, communication, power and water; and the Bank's anticipation of and success in
managing the risks implied by the foregoing. A substantial amount of the Bank's business involves making loans or otherwise committing resources to specific
companies, industries or countries. Unforeseen events affecting such borrowers, industries or countries could have a material adverse effect on the Bank's
financial results, businesses, financial condition or liquidity. These and other factors may cause the Bank's actual performance to differ materially from that
contemplated by forward-looking statements. For more information, see the discussion starting on page 62 of the Bank's 2010 Annual Report.
The preceding list of important factors is not exhaustive. When relying on forward-looking statements to make decisions with respect to the Bank and its
securities, investors and others should carefully consider the preceding factors, other uncertainties and potential events. The Bank does not undertake to update
any forward-looking statements, whether written or oral, that may be made from time to time by or on its behalf.
The "Outlook" sections in this document are based on the Bank's views and the actual outcome is uncertain. Readers should consider the above-noted factors
when reviewing these sections.
Additional information relating to the Bank, including the Bank's Annual Information Form, can be located on the SEDAR website at www.sedar.com and on the
EDGAR section of the SEC's website at www.sec.gov.
Scotiabank
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