Investor Presentation
International - stable earnings
Scotiabank notwithstanding foreign currency translation
net income, $ millions
167
156
160
163
Q1/03
Q4/03
Q1/04
Revenue growth: up 8% yr/yr (ex. forex)
■ Caribbean
"
net income
•
down 11% vs. Q1/03 - impact of
foreign currency translation
up 21% vs. Q4/03 - lower loan losses
broad-based asset growth
Latin America
Asia
Inverlat up 63% vs. Q1/03
lower net income - impact of new
accounting rules for hedging
21
Scotiabank Inverlat - growing contribution
Scotiabank
$ millions
32
32
43
52
Net contribution rose to $52 million, up 63% yr/yr
Strong asset and deposit growth (yr/yr):
retail loans up 47%
high-margin credit card & auto loans up 83%,
including purchase of auto loan portfolio in Q4/03
core deposits up 23%
commercial lending up 14%
Margin up year over year
some compression versus Q4/03
Q1/03
Q4/03
Q1/04
22View entire presentation