Investor Presentation Third Quarter, 2008
Scotiabank
Net Income*
($ millions)
291
276
251
Q3/07 Q2/08 Q3/08
*available to common shareholders
Scotia Capital
Excellent Quarter
Q3/08 vs. Q3/07 net income: up 5%
+ revenues up 1%
+ higher corporate loan volumes & wider spreads
+ record fixed income & continued strength in forex &
ScotiaMocatta
- lower derivative trading revenues vs. record Q3/07
+ expenses improved by 5%
+ lower performance-based compensation
+ ROE very strong at 34.1%
Q3/08 vs. Q2/08 net income: up 16%
+ revenues up 21%
+ much stronger trading, with higher derivatives
& record fixed income
+ higher corporate lending & investment banking,
including record ScotiaWaterous revenues
+ Q2/08 loss on non-trading securities
- expenses up 5%
-
higher performance-based compensation
+ other expenses well controlled
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Scotiabank
644
Revenues: 2nd Best Quarter Since 2002
Revenues (TEB)
($ millions)
538
652
354
371
307
273
298
231
Q3/07
Q2/08
Global Capital Markets (GCM)
Q3/08
Global Corporate & Investment Banking
(GC&IB)
Q3/08 vs. Q3/07 revenues: up 1%
Global Corporate & Investment Banking
+ higher corporate loan volumes & wider spreads
+ higher credit fees
Global Capital Markets
- lower derivatives revenues versus record Q3/07
+ largely offset by:
+ record quarter for fixed income trading
+ continued strong forex & precious metals trading
Q3/08 vs. Q2/08 revenues: up 21%
Well diversified growth
+ significantly higher trading revenues, particularly
from derivatives & fixed income trading
+ higher credit fees
+ second best investment banking revenues ever,
including record revenues in Scotia Waterous
+ Q2/08 loss on non-trading securities
22View entire presentation