Scotiabank Earnings Performance Review
€
Scotiabank
%
1.93
All Bank
Small Decline in
All-Bank Net Interest Margin
1.86
1.87
1.79
1,76
2.58
2.56
4.03
Domestic
2.35
2.33
International
4.27
0.79
0.59
4.32
4.18
2.49
4.10
Scotia Capital
0.96
0.69
0.60
All-Bank margin: -3 bps qtr/qtr
Domestic margin: +14 bps qtr/qtr
+ lower wholesale funding costs
+ wider prime-BA spread
+ higher mortgage spreads
International margin: -8 bps qtr/qtr
- higher growth in lower spread assets in Asia
slightly lower margins in Latin America
+higher spreads in Caribbean & Central
America
Scotia Capital margin: -9 bps qtr/qtr
- lower interest income in Global Capital
Markets
- higher trading assets
+ higher spreads in Canada, US
Q2/07
Q3/07
Q4/07
Q1/08
Q2/08
Scotiabank
37
Scotiabank Mexico
Improved Contribution in Q2
($ millions)
Q2/08 Q1/08 Q/Q Comments
Contribution
$96
$117
$(21)
• Continued retail asset growth
(Mexican GAAP)
Canadian GAAP
adjustments
$(17)
$(49)
$32
Contribution to BNS
$79
$68
$11
38
• More than offset by higher local taxes
• Q2/08 includes reversal of
locally booked VISA and bond gains
Q1/08 includes:
- write-down of future tax asset, and
- reversal of local tax benefitView entire presentation