Bank of Nova Scotia Split Message Board

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Gold/Mining/Energy : Bank of Nova Scotia Split

BNS 65.70

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Nov 3 3:59 PM EST

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From: JakeStraw	8/29/2006 3:47:59 PM
	of 26

Scotiabank 3Q Profit Rises 19 Percent biz.yahoo.com Tuesday August 29, 2:41 pm ET Bank of Nova Scotia 3Q Profit Rises 19 Percent on Higher Income From Acquisitions NEW YORK (AP) -- Bank of Nova Scotia said Tuesday net income for the fiscal third quarter rose 19 percent, lifted by higher income from acquisitions. Net income for the quarter ended July 31, rose to 936 million Candian dollars ($827.4 million), or 93 Canadian cents (82 cents) per share, compared with 784 million Canadian dollars or 77 Canadian cents per share a year ago. Net interest income, or earnings from yields on loans after paying interest on deposits, rose 16 percent to 1.82 billion Canadian dollars ($1.61 billion) from a year ago, while net interest margin was flat at 2 percent. The gain in net interest income came from a 15 percent increase in total assets to 364.98 billion Canadian dollars ($322.63 billion) due to acquisitions. Total loans rose 13 percent to 225.39 billion Canadian dollars ($199.24 billion). Non-interest income, or earnings from charges and fees, rose 4 percent to 1.17 billion Canadian dollars ($1.03 billion) on higher retail brokerage fees, credit card revenue and deposit services. Bank of Nova Scotia said it expects to report results for the full year in the "upper range" of the key performance objectives for the year, which called for earnings per share growth of 5 percent to 10 percent.

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