Investor Presentation Third Quarter, 2008
International Banking
Scotiabank Solid Growth - Organic & Acquisitions
Net Income*
($ millions)
326
321
270
Q3/07
Q2/08
Q3/08
* available to common shareholders
Q3/08 vs. Q3/07 net income: up 19%
+ revenues up 30%
+ strong & diversified organic loan growth,
acquisitions & $40MM IPO gain in Mexico
expenses up 25%
-
acquisitions, growth initiative spending,
$28MM indemnity provision in Peru
higher tax rate in Mexico
- increase in retail provisions due to asset growth,
acquisitions & slight deterioration in Mexico
Q3/08 vs. Q2/08 net income: down 2%
+ revenues up 7%
+ volume growth, IPO gain in Mexico &
widespread transaction driven growth
- expenses up 14%
growth initiative spending, higher Q2
recoveries, indemnity provision
lower provisions - reversal in Mexico Commercial,
partly offset by retail provisions in Mexico & Peru
Scotiabank
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Broad-Based Revenue Growth
Revenues (TEB)
($ millions)
1,236
1,153
382
953
323
322
410
440
406
420
414
225
Q3/07
Q2/08
Q3/08
Mexico
Caribbean & Central America
Latin America & Asia
Q3/08 vs. Q3/07 revenues: up 30%
Mexico
+ retail loan growth, higher margin
+ IPO gain, partly offset by lower trading
Caribbean & Central America
+ strong retail & commercial loan growth
■ Latin America & Asia
+ Chile acquisition
+ strong organic loan growth, including
Commercial in Asia
Q3/08 vs. Q2/08 revenues: up 7%
■ Mexico
+ IPO gain, partly offset by lower trading
+ retail loan growth
■ Caribbean & Central America
+ continued asset growth, increased margin
+ higher transaction based revenues
■ Latin America & Asia
+ broad-based loan growth
losses in trading & from MTM of securities
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