International Banking Volume Growth and Sector Highlights

ECONOMIC OUTLOOK IN KEY MARKETS Macro economic growth improving for Pacific Alliance countries Real GDP (Annual % Change) Country 2000-15 Avg. 2016A 2017F 2018F Mexico 2.4 2.3 2.4 2.7 Peru 5.1 4.0 2.5 3.7 Chile 4.1 1.6 1.4 2.8 Colombia 4.0 2.0 1.6 2.5 2000-16 Avg. 2016A 2017F 2018F Canada 2.1 1.5 3.1 2.2 U.S. 1.9 1.5 2.2 2.4 Source: Scotia Economics, as of November 3, 2017 ⑤Scotiabank® | 26

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