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Consolidated Financial Statements
<br />Consolidated Balance Sheet
<br />As at October 31 (S millions) 2008 2007
<br />• Assets
<br />Cash resources
<br />Cash and non-interest-bearing deposits with banks S 2,574 $ 2,138
<br />Interest-bearing deposits with banks 32,318 23,011
<br />Precious metals 2,426 4,046
<br />37,318 29,195
<br />Securities (Note 3)
<br />Trading
<br />Available-for-sale
<br />Equity accounted investments
<br />•
<br />Securities purchased under resale agreements
<br />Loans (Note 4)
<br />Residential mortgages
<br />Personal and credit cards
<br />Business and government
<br />Allowance for credit losses (Note 5 (b))
<br />48,292 59,685
<br />38,823 28,426
<br />920 724
<br />88,035 88,835
<br />19,451 22,542
<br />115,084 102,154
<br />50,719 41,734
<br />125,503 85,500
<br />291,306 229,388
<br />2,626 2,241
<br />288,680 227,147
<br />Other
<br />Customers' liability under acceptances 11,969 11,538
<br />Derivative instruments (Note 27 (d)) 44,810 21,960
<br />Land, buildings and equipment (Note 7) 2,688 2,271
<br />Goodwill (Note 8) 2,273 1,134
<br />Other intangible assets (Note 8) 282 273
<br />Other assets (Note 9) 12,119 6,615
<br /> 74,141 43,791
<br /> 5 507,625 $ 411,510
<br />Liabilities and sharehoBders' equity
<br />Deposits (Note 10)
<br />Personal $ 118,919 $ 100,823
<br />Business and government 200,566 161,229
<br />Banks 27,095 26,406
<br /> 346,580 288,458
<br />Other
<br />Acceptances
<br />Obligations related to securities sold under repurchase agreements
<br />Obligations related to securities sold short
<br />Derivative instruments (Note 27 (d))
<br />Other liabilities (Note 11)
<br />Non-controlling interest in subsidiaries
<br />Subordinated debentures (Note 12)
<br />Capital instrument liabilities (Note 13)
<br />Shareholders' equity
<br />Capital stock (Note 14)
<br />Preferred shares
<br />Common shares
<br />Retained earnings
<br />Accumulated other comprehensive income (loss) (Note 16)
<br />11,969 11,538
<br />36,506 28,137
<br />11,700 16,039
<br />42,811 24,689
<br />31,063 21,138
<br />502 497
<br />134,551 102,038
<br />4,352 1,710
<br />500 500
<br />2,860 1,635
<br />3,829 3,566
<br />18,549 17,460
<br />(3,596) (3,857)
<br />21,642 18,804
<br />S 507,625 $ 411,510
<br />
<br />Arthur R.A. Scace
<br />Chairman of the Board
<br />Rick Waugh
<br />President and Chief Executive Officer
<br />Certain comparative amounts have been redass~ed to conform with current period presentation.
<br />The accompanying notes are an integral pan of these consolidated finandal statements.
<br />106 2008 Scotiabank Annual Report
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