Scotiabank First Quarter Overview

Scotiabank ...reflecting moderate market risk $ millions, November 1, 2002 to January 31, 2003 20 10 0 Actual P&L VaR 1 day тури -10 -20 Scotiabank Average 1 day VaR = $9.6 mm 33 Risk summary ■ Good credit quality in Domestic & International ■ Closely monitoring Scotia Capital ➤ particularly the Power portfolio ■ Expect moderate decline in provisions in 2003 34

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