2010 Outlook
Solid Revenues, Impacted by FX
Revenues (TEB)
($ millions)
3,843
3,808
1,599
1,636
2,586
550
Q4/09 vs. Q4/08 Revenues
■Net interest income up 7%
+ Higher margin & asset growth
Negative impact of FX
■ Other income up 100% +
+ Significant increase in securities gains & trading
revenues vs. writedowns in Q4/08
+ Higher credit & underwriting fees
+ Increased mutual fund revenues
Q4/09 vs. Q3/09 Revenues
■ Net interest income down 3%
2,244
2,036
2,172
-
Q4/08
Q3/09
Q4/09
Other Income
Net Interest Income (TEB)
+ Asset re-pricing
Decrease in loan volumes
Negative impact of financial instruments & FX
■ Other income up 2%
+ Higher net gains on securities
+ Higher credit, underwriting & mutual fund fees
- Continued strong trading, but down vs. record Q3
- Lower securitization revenues, negative impact of FX
Scotiabank
Asset Balances
Average Assets
($ billions)
(2)%
Q4/09 vs. Q3/09
Business & Government (1) (11)%
Negative impact of FX
Loan paydowns in Q4, full quarter
impact of loan paydowns in Q3
507
495
Residential
mortgages
118(2)
•
121(2)
•
Personal loans
60
60
■Business &
government
Securities
120
107
103(2)
98(2)
Other
106
109
Q3/09
Q4/09
(1) Includes BAs
(2) Residential Mortgages and Securities exclude the impact of MBS which were transferred into securities
Scotiabank
11
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