Scotiabank
Investment Banking
Scotiabank Investment Banking
INVESTMENT
BANKING is made up of Global Treasury and Scotia Capital Markets.
Global Treasury manages the Bank’s investments, its medium-term
funding and its capitalization. Scotia Capital Markets offers
a broad range of services to customers in Canada, provides
international clients access to Canadian products, and is
active glob-ally in certain niche markets – including
precious and base metals where it is a leader.
FINANCIAL
PERFORMANCE
Despite
the unsettled market conditions during the latter part of
1998, Investment Banking had a good year in 1998, contributing
$218 million to the Bank’s results. This compared with
$401 million in 1997, when there were substantially higher
gains on investment securities and market conditions were
more favourable. In 1998, Investment Banking contributed 16%
of the Bank’s total results.
Global
Treasury provided earnings of $143 million. These were below
the previous year, because gains on the sale of investment
securities were lower than their very high level in 1997.
For
further information on Scotiabank Investment Banking visit
the Scotiabank website.
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