Scotiabank Business Line Results

Scotiabank Steady contribution from Caribbean Net Income, $ millions $67 $77 $72 Q2/01 Q1/02 Q2/02 21 ■ Strong earnings growth A - up 15% yr/yr ■ Asset growth A -up 14% yr/yr ■ Credit quality ■ A -stable Expansion of network ■ Investment in technology Scotiabank Mexico - upward momentum BNS share of Inverlat earnings, $ millions $17 ☐ $25 Earnings momentum $23 ➤ up 47% yr/yr Q2/01 Q1/02 Q2/02 Strong lending & deposit growth retail lending +25% - comm./corporate loans +20% A deposits +50% ■ Inverlat Capital Markets merged corporate & investment 22

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