Scotiabank Earnings Performance Review
Scotiabank
Revenues (TEB)
($ millions)
International Banking
Strong Revenue Growth
1,153
1,040
979
323
322
341
410
398
403
420
320
235
Q2/07
Q1/08
Q2/08
Mexico
■Caribbean & Central America
Latin America & Asia
Q2/08 vs. Q2/07 revenues: up 18%
(forex negatively affected each segment)
■ Mexico
+ strong retail loan & deposit growth
+ higher insurance & mutual fund revenues
■ Caribbean & Central America
+ strong loan growth & improved margin
■ Latin America & Asia
+ Chile & Thailand acquisitions
+ strong net interest income growth - retail &
commercial
+ higher non-trading securities gains
Q2/08 vs. Q1/08 revenues: up 11%
■ Mexico
+ good retail loan growth
- largely offset by lower commercial fees
■ Caribbean & Central America
+ continued asset growth: organic & acquisitions
+ improved margin
▪ Latin America & Asia
+ full quarter of Chile acquisition (1 month in Q1)
+ fair value write-downs in Q1
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Scotiabank
International
Update on 2008 Priorities
■ Drive sustainable revenue growth
Broader geographic diversification
Segmentation strategy progressing well
Distribution channel expansion on track
•
Will add 90-100 branches
■ Additional acquisitions
Peru: Increased presence in fast growing market
•
•
Raised ownership in Scotiabank Peru to 98% (from 78%)
Acquisition of Banco de Trabajo makes Scotiabank #1 in consumer
finance
Expanded footprint in Guatemala and Dominican Republic
Improving operational efficiency
-
Upgrading call centres and internet platforms
20View entire presentation