Q1 2014 Trading Results and Financial Overview
Canadian Banking
Net Income ($MM)
575
550
555
539
507
Q3/13 Q4/13 Q1/14
Net Interest Margin (%)
Q1/13 Q2/13
Average Assets ($B)
267 273 274 276 277
2.02 2.02 2.05 2.06 2.07
Q1/13 Q2/13 Q3/13 Q4/13 Q1/14 Q1/13 Q2/13 Q3/13 Q4/13 Q1/14
Highlights
■ Good quarter, net income up 7% Y/Y
■ Solid loan growth of 5% Y/Y
Particularly strong growth in credit cards
and consumer auto loans
Reported growth suppressed by ING
mortgage run-down
■ Good deposit growth of 5% Y/Y
■ Credit performance remains stable
- Increase in PCLs due to modest shift in
product mix
■NIM up 1 bp Q/Q
■ Positive operating leverage of 1.1%
Y/Y
Solid volume growth and
positive operating leverage
(1) Attributable to equity holders of the Bank
International Banking
1
Net Income ($MM)
Net one-time benefit in International Banking
9
Highlights
Scotiabank
411
490
415
90
410
401
IHT
400
Q1/13 Q2/13 Q3/13 Q4/13 Q1/14
Average Assets ($B)
Net Interest Margin (%)
■ Stable quarter, net income down 2%
Y/Y
137
122 122 126
4.18 4.24 4.14
"
115
3.90 3.93
Q1/13 Q2/13 Q3/13 Q4/13 Q1/14 Q1/13 Q2/13 Q3/13 Q4/13 Q1/14
Strong double-digit loan growth of
17% Y/Y
Broad-based growth in LatAm & Asia
Very good deposit growth of 13% Y/Y
■ Credit performance remains stable
PCL ratio unchanged at 87 bps
Small rebound in NIM, up 3 bps Q/Q
■ Expenses up 11% Y/Y
Negative FX impact
Higher remuneration & inflation
Strong asset growth offset by
lower margins, higher
expenses and PCLS
(1) Attributable to equity holders of the Bank
10
Scotiabank
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