Review of Banks' Q2 2008 Earnings

Scotia Capital, 23 June 2008Earnings Resilience Continues - Grinding It Out� The Banking Siege is now into its 11th month and still counting, although it continues to show signs of easing. The bank index has rebounded 16% from the lows reached on March 17, The Bear Stearns Rescue, which we believe is the beginning of a major bull market in bank stocks.� The Canadian banks, except for CM, have