Scotiabank Q1 2008 Earnings

RBC Capital Markets, 5 March 2008Scotiabank's Q1/08 GAAP EPS of $0.82 were below our estimate of $1.05 and consensus of $1.00, primarily because of write-downs related to capital markets activities, although international and domestic banking were also below our expectations.� If adding back the capital markets write-downs, EPS would have been $0.17 higher.Lowering EPS estimates and target