Investor Presentaiton
Scotiabank
Domestic Banking
Chris Hodgson
Executive Vice-President
Domestic Personal Banking
15
Scotiabank
361
Q1/07
Domestic Banking
Solid Operating Performance
Net Income*
($ millions)
434
92**
342
Q4/07
367
Q1/08
*available to common shareholders
Q1/08 vs. Q1/07 net income: up 2%
+ revenues up 3%
strong asset growth partly offset by margin
compression due to higher funding costs
- expenses up 2%
costs related to acquisitions
growth initiative spending
- moderately higher PCLs due to portfolio growth
Q1/08 vs. Q4/07 net income: down 16%
+ net income up 7% ex. VISA gain
■ revenues unchanged ex. VISA gain
+ expenses down 4% due to higher Q4 project
spending such as advertising & seasonality
higher PCLs due to portfolio growth & higher
auto lending provisions from TLC acquisition
**VISA gain
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