TORONTO, Oct. 31, 2011 /CNW/ - Grupo Scotiabank today announced results for the third quarter of 2011.  Scotiabank Mexico's third quarter consolidated net income was Cdn$59 million (P$759 million), compared to Cdn$44 million (P$545 million) in the same quarter last year. The increase for the quarter was a result of higher non-interest revenues and lower provisions, partially offset by lower net interest income and higher operating expenses.

These results are adjusted to a Canadian GAAP basis prior to their inclusion in Scotiabank's fourth quarter 2011 financial results. Scotiabank Mexico's contribution to Scotiabank's fourth quarter net income is estimated to be Cdn$56 million on a Canadian GAAP basis.

Scotiabank Mexico's media release announcing the results can be found at www.scotiabank.com.mx

Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With more than 70,000 employees, Scotiabank Group and its affiliates serve some 18.6 million customers in more than 50 countries around the world. Scotiabank offers a broad range of products and services including personal, commercial, corporate and investment banking. With assets above $567 billion (as at July 31, 2011), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.