Outlook
Scotiabank
International results impacted by foreign
currency translation
Net income, $ millions
128
175
156
■
Caribbean
-
-
lower earnings yr/yr due to stronger Cdn $
local currency earnings up 14% yr/yr
lower earnings vs. Q3 due to credit losses
& timing of expenditures on initiatives
■ Latin America
higher earnings yr/yr in Inverlat
lower PDI revenues vs. Q3/03
Asia
lower credit losses yr/yr
Q4/02
Q3/03
Q4/03
25
Scotiabank Inverlat - growing contribution
Scotiabank
"
Strong growth in assets and deposits yr/yr
retail up 62%, commercial up 21%
core deposits up 12%
■ Purchased US$350mm retail auto portfolio
"Best Bank for 2003" - Latin Finance
Purchase price equation:
- goodwill
-
tax-loss carry forward
26View entire presentation