TORONTO, Feb. 29, 2012 /CNW/ - Grupo Scotiabank today announced results
for the fourth quarter of 2011. Scotiabank Mexico's fourth quarter
consolidated net income was Cdn$62 million (P$831 million), compared to
Cdn$72 million (P$878 million) in the same quarter last year. The
decrease for the quarter was a result of lower net interest income and
higher operating expenses, partially offset by higher non-interest
revenues and lower provisions for credit losses.
These results are adjusted to reflect International Financial Reporting
Standards (IFRS) prior to their inclusion in Scotiabank's first quarter
2012 financial results. Scotiabank Mexico's results included in
Scotiabank's first quarter net income are estimated to be Cdn$64
million on an IFRS basis.
Scotiabank Mexico's media release announcing the results can be found at
Scotiabank is one of North America's premier financial institutions and
Canada's most international bank. With more than 75,000 employees,
Scotiabank Group and its affiliates serve over 19 million customers in
more than 55 countries around the world. Scotiabank offers a broad
range of products and services including personal, commercial,
corporate and investment banking. With assets above $590 billion (as at
October 31, 2011), Scotiabank trades on the Toronto (BNS) and New York
Exchanges (BNS). For more information please visit www.scotiabank.com.
SOURCE Scotiabank - Financial Releases
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