Grupo Scotiabank today announced solid results for the third quarter of 2007 driven by continued asset and deposit growth, improved margins, increased non-interest revenues and well controlled expenses. Scotiabank Mexico’s third quarter consolidated net income was $132 million, or $1,391 million Mexican pesos.

Bank of Nova Scotia says these results are adjusted to a Canadian GAAP basis prior to their inclusion in Scotiabank’s fourth quarter 2007 financial results.

Scotiabank estimates Scotiabank Mexico’s third quarter earnings to translate into fourth quarter net income of approximately $108 million on a Canadian GAAP basis.

Scotiabank is scheduled to report its fourth quarter results on December 6.