Scotiabank Financial Performance Review
Scotiabank
Scotiabank Mexico
Scotiabank Mexico Contribution ($ mm)
2007
2006 Q4/07 Q3/07
Net income in pesos, excluding inflation accounting
MXP/CAD exchange rate
4,358 5,008 1,391
10.0 9.5
927
10.5
10.1
Net income in CAD, excluding inflation accounting
BNS' share (97%)
$437 $525
$132
$92
$425
$511
$128
$89
Canadian GAAP and acquisition adjustments
$36
$21
$(19)
$11
Total contribution in CAD
$461
$532
$109
$100
Excl. VAT recovery
$481
Scotiabank
43
Earnings in Other segment
net income available to common shareholders, $ millions
52
169
98
2006
2007
79
Q4/06
Q3/07
Q4/07
2007 vs. 2006 net income: (42)%
+ higher securities gains
-
FI accounting impact
expenses up $51mm
- a $35mm reduction in general allowance
Q4/07 vs. Q3/07 net income: (100)%+
-FI accounting impact
- structured credit instruments write-down $56 mm
- expenses up $23mm
higher taxes
+ higher securities gains, excluding write-downs
(75)
The Other category includes Group Treasury and other
corporate items, which are not allocated to a business line
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