Investor Presentaiton
Scotiabank
Scotia Capital
Michael Durland
Co-Head
Scotia Capital
21
Scotiabank
Scotia Capital
Good Quarter - Despite Tough Environment
Net Income*
($ millions)
318
251
Q2/08 vs. Q2/07 net income: down 21%
- revenues 18% lower
-
high level of interest recoveries in Q2/07
- lower trading revenues due to tougher environment
+ higher loan volumes & spreads
+ expenses improved by 7%
+ lower performance based compensation
lower loan loss recoveries vs. high level in Q2/07
187
Q2/07 Q1/08 Q2/08
Q2/08 vs. Q1/08 net income: up 34%
+ revenues up 33%
+ great product diversification in trading
- expenses up 27%
-
higher performance based compensation
+ other expenses well controlled
■ loan losses flat vs. last quarter
*available to common shareholders
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