Scotiabank Mexico Announces First Quarter Results



    TORONTO, April 30 /CNW/ - Grupo Scotiabank today announced results for
the first quarter of 2009. Compared to the same period last year, Grupo
Scotiabank recorded higher revenue from asset growth, which was more than
offset by rising credit provisions in a difficult economic environment.
Scotiabank Mexico's first quarter consolidated net income was Cdn$43 million
(P$488 million).
    These results are adjusted to a Canadian GAAP basis prior to their
inclusion in Scotiabank's second quarter 2009 financial results. Scotiabank
Mexico's contribution to Scotiabank's second quarter net income is estimated
to be Cdn$54 million on a Canadian GAAP basis.
    Scotiabank Mexico's media release announcing the results can be found at
http://www.scotiabank.com.mx.

    Scotiabank is one of North America's premier financial institutions and
Canada's most international bank. With more than 69,000 employees, Scotiabank
Group and its affiliates serve approximately 12.8 million customers in some 50
countries around the world. Scotiabank offers a diverse range of products and
services including personal, commercial, corporate and investment banking.
With $509 billion in assets (as at January 31, 2009), Scotiabank trades on the
Toronto (BNS) and New York Exchanges (BNS). For more information please visit
www.scotiabank.com.





For further information:

For further information: Frank Switzer at (416) 866-7238, or
frank_switzer@scotiacapital.com


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