Q1 2014 Trading Results and Financial Overview
Credit Quality
Credit fundamentals remain strong
-
-
Modest increase in PCL ratio - up 3 bps Q/Q to 34 bps
Loss rates in Canadian Banking up slightly from historical
lows
International Banking loss rates stable
GBM credit performance exceptionally strong
Increase in net formations of impaired loans to $408 million
-
Retail growth in Peru & Mexico
Lower commercial recoveries in Colombia
Market risk remains well-controlled
-
-
Average 1-day All-Bank VaR: $19.8MM vs. $17.9MM in
Q4/13
Two trading loss days in Q1/14
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Provisions for Credit Losses
Scotiabank
($ millions)
Q1/13
Q2/13
Q3/13 Q4/13
Q1/14
Canadian Retail
108
106
103
106
118
Canadian Commercial
10
30
5
10
16
118
136
108
116
134
International Retail
171
180
177
170
187
International Commercial
15
14
17
37
32
186
194
194
207
219
Global Wealth & Insurance
1
1
1
Global Banking & Markets
5
12
11
(2)
3
Total
310
343
314
321
356
PCL ratio (bps) on impaired loans
32
35
31
31
34
Note: International Banking's total includes the impact of Colombian purchased portfolio. The Bank expects the PCL ratio to rise with the
maturity of the acquired portfolio. See page 28 of the 2013 Annual Report.
16
Scotiabank
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