Scotiabank Asset Growth and Business Line Outlook
Scotiabank
Q2/09 Items of Note
Pre-tax
Item
($MM)
After-tax
($MM)
EPS
Impact
Business Line; Line Item
AFS securities
write-downs*
Other: Other Income (97)
(104)
(70)
(0.07)
SC: Other Income (7)
Credit card sale in
(36)
(26)
Mexico
(0.03)
Int'l: Other Income
Provisions release in
Mexico
29
29
Q1/09 AFS securities write-downs were $(236)MM
Scotiabank
Revenues (TEB)
($ millions)
3,673
3,421
3,272
1,509
1,299
1,385
224
21
0.02
Int'l: PCLs
9
Record Revenues
Q2/09 vs. Q1/09 revenues: up 7%
■ net interest income up 6%
+ increase in fair value of financial instruments
shorter quarter
■ other income up 9%
+ higher securitization revenues, fixed income
revenues & credit fees
+ lower AFS securities write-downs
realized gains on securities, underwriting & mutual
fund fees
1,973
2,036
2,164
Q2/08
Q1/09
Q2/09
Other income
Net Interest Income (TEB)
Q2/09 vs. Q2/08 revenues: up 12%
■ net interest income up 10%
+ asset growth, forex
lower margin & tax-exempt income
■ other income up 16%
+ securitization revenues & strong trading results
+ credit fees, investment banking & trading revenues,
forex
- securities writedowns, lower wealth mgmt. fees
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