Banks Q1 2007 Review

Scotia Capital, 22 March 2007Event� Earnings growth reaccelerated to 24% in the first quarter, the strongest earnings momentum in the past three years.� The bank group recorded its best quarter in history, with return on equity of nearly 24% and return on risk-weighted assets of 224 bp.What It Means� Earnings growth of 24% is even more impressive considering that fiscal 2006 represented the