Bank of Nova Scotia Split Message Board

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Gold/Mining/Energy : Bank of Nova Scotia Split

BNS 65.70

+0.1%

Nov 3 3:59 PM EST

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From: JakeStraw	12/8/2009 8:11:26 AM
	of 26

Scotiabank reports 2009 fourth quarter net income of $902 million, up substantially from last year finance.yahoo.com Tuesday December 8, 2009 Fiscal 2009 Highlights (year over year) << - Earnings per share (diluted) of $3.31 versus $3.05 - Net income of $3.547 billion, up 13% from last year - ROE was 16.7% - Productivity ratio of 53.7%, versus 59.4% - Annual dividends per share of $1.96, increased by 2.1%, compared to $1.92 - Tier 1 capital ratio of 10.7%, compared to 9.3% last year - Tangible common equity ratio of 8.2% compared to 6.6% last year >> Fourth Quarter Highlights (versus Q4, 2008) << - Earnings per share (diluted) of $0.83 compared to $0.28 - Net income of $902 million, up from $315 million - ROE of 16.4% - Productivity ratio of 54.2%, versus 75.2% - Maintained quarterly dividend of $0.49 >> Fiscal 2009 Performance versus Objectives << The Bank met or exceeded all of its four key financial and operational objectives this year as follows: 1. TARGET: Generate growth in EPS (diluted) of 7 to 12% per year. The year-over-year EPS growth was 8.5% 2. TARGET: Earn a return on equity (ROE) of 16 to 20%. For the full year, Scotiabank earned an ROE of 16.7% 3. TARGET: Maintain a productivity ratio of less than 58%. Scotiabank's performance was 53.7% 4. TARGET: Maintain sound capital ratios. At 10.7%, the Tier 1 capital ratio remains strong. >>

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