Document and Entity Information
Document and Entity Information | 3 Months Ended |
Jan. 31, 2019 | |
Document - Document and Entity Information [Abstract] | |
Document Type | 6-K |
Amendment Flag | false |
Document Period End Date | Jan. 31, 2019 |
Document Fiscal Year Focus | 2,019 |
Document Fiscal Period Focus | Q1 |
Trading Symbol | BNS |
Entity Registrant Name | BANK OF NOVA SCOTIA |
Entity Central Index Key | 9,631 |
Current Fiscal Year End Date | --10-31 |
Consolidated Statement of Finan
Consolidated Statement of Financial Position - CAD ($) $ in Millions | Jan. 31, 2019 | Oct. 31, 2018 |
Assets | ||
Cash and deposits with financial institutions | $ 52,942 | $ 62,269 |
Precious metals | 3,622 | 3,191 |
Trading assets | ||
Securities | 93,047 | 85,474 |
Loans | 13,161 | 14,334 |
Other | 748 | 454 |
Total trading assets | 106,956 | 100,262 |
Financial instruments designated at fair value through profit or loss | 14 | 12 |
Securities purchased under resale agreements and securities borrowed | 127,959 | 104,018 |
Derivative financial instruments | 32,161 | 37,558 |
Investment securities | 77,986 | 78,396 |
Loans | ||
Residential mortgages | 258,649 | 253,357 |
Personal loans | 96,650 | 96,019 |
Credit cards | 17,124 | 16,485 |
Business and government | 198,793 | 191,038 |
Loans and receivables gross | 571,216 | 556,899 |
Allowance for credit losses | 5,111 | 5,065 |
Loans and receivables | 566,105 | 551,834 |
Other | ||
Customers' liability under acceptances, net of allowance | 18,737 | 16,329 |
Property and equipment | 2,680 | 2,684 |
Investments in associates | 5,184 | 4,850 |
Goodwill and other intangible assets | 17,864 | 17,719 |
Deferred tax assets | 2,047 | 1,938 |
Other assets | 20,026 | 17,433 |
Other Assets | 66,538 | 60,953 |
Total assets | 1,034,283 | 998,493 |
Deposits | ||
Personal | 221,921 | 214,545 |
Business and government | 434,749 | 422,002 |
Financial institutions | 34,209 | 39,987 |
Deposits | 690,879 | 676,534 |
Financial instruments designated at fair value through profit or loss | 9,907 | 8,188 |
Other | ||
Acceptances | 18,746 | 16,338 |
Obligations related to securities sold short | 31,621 | 32,087 |
Derivative financial instruments | 35,970 | 37,967 |
Obligations related to securities sold under repurchase agreements and securities lent | 116,527 | 101,257 |
Subordinated debentures | 7,492 | 5,698 |
Other liabilities | 53,975 | 52,744 |
Other Liabilities | 264,331 | 246,091 |
Total liabilities | 965,117 | 930,813 |
Common equity | ||
Retained earnings | 42,236 | 41,414 |
Accumulated other comprehensive income (loss) | 1,587 | 992 |
Other reserves | 406 | 404 |
Total common equity | 62,525 | 61,044 |
Total equity attributable to equity holders of the Bank | 66,409 | 65,228 |
Non-controlling interests in subsidiaries | 2,757 | 2,452 |
Total equity | 69,166 | 67,680 |
Total liabilities and equity | 1,034,283 | 998,493 |
Common shares [member] | ||
Common equity | ||
Common shares | 18,296 | 18,234 |
Preference shares [member] | ||
Common equity | ||
Preferred shares and other equity instruments | $ 3,884 | $ 4,184 |
Consolidated Statement of Incom
Consolidated Statement of Income - CAD ($) $ in Millions | 3 Months Ended | ||||
Jan. 31, 2019 | [2] | Oct. 31, 2018 | Jan. 31, 2018 | ||
Interest income | |||||
Loans | [1] | $ 7,091 | $ 6,877 | $ 5,803 | |
Securities | [1] | 516 | 488 | 399 | |
Securities purchased under resale agreements and securities borrowed | [1] | 130 | 129 | 98 | |
Deposits with financial institutions | [1] | 254 | 226 | 181 | |
Interest income | [1] | 7,991 | 7,720 | 6,481 | |
Interest expense | |||||
Deposits | 3,335 | 3,063 | 2,256 | ||
Subordinated debentures | 61 | 55 | 52 | ||
Other | 321 | 382 | 237 | ||
Interest expenses | 3,717 | 3,500 | 2,545 | ||
Net interest income | 4,274 | 4,220 | 3,936 | ||
Non-interest income | |||||
Card revenues | 244 | 300 | 273 | ||
Banking service fees | 433 | 473 | 423 | ||
Credit fees | 324 | 308 | 285 | ||
Mutual funds | 447 | 439 | 438 | ||
Brokerage fees | 216 | 227 | 230 | ||
Investment management and trust | 257 | 209 | 163 | ||
Underwriting and other advisory | 92 | 103 | 148 | ||
Non-trading foreign exchange | 160 | 158 | 148 | ||
Trading revenues | 329 | 370 | 387 | ||
Net gain on sale of investment securities | 22 | 10 | 35 | ||
Net income from investments in associated corporations | 129 | 169 | 110 | ||
Insurance underwriting income, net of claims | 184 | 169 | 169 | ||
Other fees and commissions | 252 | 228 | 204 | ||
Other | 241 | 65 | 139 | ||
Total non-interest income | 3,330 | 3,228 | 3,152 | ||
Total revenue | 7,604 | 7,448 | 7,088 | ||
Provision for credit losses | 688 | 590 | 544 | ||
Profit from operating activity | 6,916 | 6,858 | 6,544 | ||
Non-interest expenses | |||||
Salaries and employee benefits | 2,164 | 1,972 | 1,702 | ||
Premises and technology | 696 | 695 | 609 | ||
Depreciation and amortization | 248 | 233 | 199 | ||
Communications | 109 | 123 | 105 | ||
Advertising and business development | 139 | 182 | 129 | ||
Professional | 218 | 270 | 186 | ||
Business and capital taxes | 137 | 113 | 123 | ||
Other | 460 | 476 | 445 | ||
Total non-interest expenses | 4,171 | 4,064 | 3,498 | ||
Income before taxes | 2,745 | 2,794 | 3,046 | ||
Income tax expense | 498 | 523 | 709 | ||
Net income | 2,247 | 2,271 | 2,337 | ||
Net income attributable to non-controlling interests in subsidiaries | 111 | 92 | 58 | ||
Net income attributable to equity holders of the Bank | 2,136 | 2,179 | 2,279 | ||
Preferred shareholders and other equity instrument holders | 29 | 65 | 30 | ||
Common shareholders | $ 2,107 | $ 2,114 | $ 2,249 | ||
Earnings per common share (in dollars) | |||||
Basic | $ 1.72 | $ 1.72 | $ 1.88 | ||
Diluted | 1.71 | 1.71 | 1.86 | ||
Dividends paid per common share (in dollars) | $ 0.85 | $ 0.85 | $ 0.79 | ||
[1] | Includes interest income on financial assets measured at amortized cost and FVOCI, calculated using the effective interest method, of $7,923 for the quarter ended January 31, 2019 (October 31, 2018 - $7,624; January 31, 2018 - $6,446). | ||||
[2] | The amounts for the period ended January 31, 2019, have been prepared in accordance with IFRS 15; prior period amounts have not been restated (refer to Notes 3 and 4). |
Consolidated Statement of Inc_2
Consolidated Statement of Income (Parenthetical) - CAD ($) $ in Millions | 3 Months Ended | ||
Jan. 31, 2019 | Oct. 31, 2018 | Jan. 31, 2018 | |
Profit or loss [abstract] | |||
Interest income calculated using effective interest method | $ 7,923 | $ 7,624 | $ 6,446 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - CAD ($) $ in Millions | 3 Months Ended | |||
Jan. 31, 2019 | Oct. 31, 2018 | Jan. 31, 2018 | ||
Statement of comprehensive income [abstract] | ||||
Net income | $ 2,247 | [1] | $ 2,271 | $ 2,337 |
Net change in unrealized foreign currency translation gains (losses): | ||||
Net unrealized foreign currency translation gains (losses) | 805 | (752) | (1,510) | |
Net gains (losses) on hedges of net investments in foreign operations | (184) | (54) | 670 | |
Income tax expense (benefit): | ||||
Net unrealized foreign currency translation gains (losses) | 7 | (3) | (9) | |
Net gains (losses) on hedges of net investments in foreign operations | (48) | (14) | 179 | |
Other comprehensive income on foreign currency translation and hedges of net investments net of tax | 662 | (789) | (1,010) | |
Net change in fair value due to change in debt instruments measured at fair value through other comprehensive income: | ||||
Net gains (losses) in fair value | 443 | (156) | (305) | |
Reclassification of net (gains) losses to net income | (371) | 97 | 177 | |
Income tax expense (benefit): | ||||
Net gains (losses) in fair value | 125 | (38) | (70) | |
Reclassification of net (gains) losses to net income | (110) | 27 | 50 | |
Other comprehensive income net of tax available for sale financial assets net of tax | 57 | (48) | (108) | |
Net change in gains (losses) on derivative instruments designated as cash flow hedges: | ||||
Net gains (losses) on derivative instruments designated as cash flow hedges | 721 | (858) | 201 | |
Reclassification of net (gains) losses to net income | (374) | 721 | (295) | |
Income tax expense (benefit): | ||||
Net gains (losses) on derivative instruments designated as cash flow hedges | 191 | (223) | 55 | |
Reclassification of net (gains) losses to net income | (101) | 189 | (79) | |
Other comprehensive income net of tax cash flow hedges | 257 | (103) | (70) | |
Other comprehensive income (loss) from investments in associates | 19 | 26 | 13 | |
Net change in remeasurement of employee benefit plan asset and liability: | ||||
Actuarial gains (losses) on employee benefit plans | (460) | 129 | 84 | |
Income tax expense (benefit) | (119) | 38 | 25 | |
Other comprehensive income net of tax actuarial gains (losses) on employee benefit plans | (341) | 91 | 59 | |
Net change in fair value due to change in equity instruments designated at fair value through other comprehensive income: | ||||
Net gains (losses) in fair value | 31 | (24) | 99 | |
Income tax expense (benefit) | 8 | (6) | 15 | |
Other comprehensive income net of tax for equity instruments designated at fair value through other comprehensive income | 23 | (18) | 84 | |
Net change in fair value due to change in own credit risk on financial liabilities designated under the fair value option: | ||||
Change in fair value due to change in own credit risk on financial liabilities designated under the fair value option | 30 | (46) | (7) | |
Income tax expense (benefit) | 8 | (13) | (2) | |
Other comprehensive income net of tax change in fair value due to change in own credit risk on financial liabilities designated under the fair value option | 22 | (33) | (5) | |
Other comprehensive income (loss) from investments in associates | (3) | (4) | ||
Other comprehensive income (loss) | 696 | (874) | (1,041) | |
Comprehensive income | 2,943 | 1,397 | 1,296 | |
Comprehensive income attributable to non-controlling interests | 212 | (71) | 57 | |
Comprehensive income attributable to equity holders of the Bank | 2,731 | 1,468 | 1,239 | |
Preferred shareholders and other equity instrument holders | 29 | 65 | 30 | |
Common shareholders | $ 2,702 | $ 1,403 | $ 1,209 | |
[1] | The amounts for the period ended January 31, 2019, have been prepared in accordance with IFRS 15; prior period amounts have not been restated (refer to Notes 3 and 4). |
Consolidated Statement of Chang
Consolidated Statement of Changes in Equity - CAD ($) $ in Millions | Total | IFRS 15 [member] | IFRS9 [member] | Common shares [member] | Retained earnings [member] | [1] | Retained earnings [member]IFRS 15 [member] | [1] | Retained earnings [member]IFRS9 [member] | [1] | Other reserves [member] | Total common equity [member] | Total common equity [member]IFRS 15 [member] | Total common equity [member]IFRS9 [member] | Preferred shares and other equity instruments [member] | Total common and preferred equity [member] | Total common and preferred equity [member]IFRS 15 [member] | Total common and preferred equity [member]IFRS9 [member] | Non-controlling interests [member] | Non-controlling interests [member]IFRS9 [member] | Foreign currency translation [member]Accumulated other comprehensive income (loss) [member] | Available- for-sale securities [member]Accumulated other comprehensive income (loss) [member] | Available- for-sale securities [member]Accumulated other comprehensive income (loss) [member]IFRS9 [member] | Debt Instruments Fair Value Other Comprehensive Income [member]Accumulated other comprehensive income (loss) [member] | Debt Instruments Fair Value Other Comprehensive Income [member]Accumulated other comprehensive income (loss) [member]IFRS9 [member] | Equity Instruments Fair Value Other Comprehensive Income [member]Accumulated other comprehensive income (loss) [member] | Equity Instruments Fair Value Other Comprehensive Income [member]Accumulated other comprehensive income (loss) [member]IFRS9 [member] | Cash flow hedging reserve [member] | Other [member] | [2] | |||
Beginning Balance (Previously stated [member]) at Oct. 31, 2017 | $ 61,625 | $ 15,644 | $ 38,117 | $ 116 | $ 55,454 | $ 4,579 | $ 60,033 | $ 1,592 | $ 1,861 | $ (46) | $ 235 | $ (473) | |||||||||||||||||||||
Beginning Balance (Increase (decrease) due to changes in accounting policy required by IFRSs [member]) at Oct. 31, 2017 | $ (610) | $ (564) | $ (513) | $ (513) | $ (97) | $ 46 | $ 184 | $ (179) | |||||||||||||||||||||||||
Beginning Balance (Balance After IFRS Adjustments [member]) at Oct. 31, 2017 | 61,015 | 15,644 | 37,553 | 116 | 54,941 | 4,579 | 59,520 | 1,495 | 1,861 | $ 184 | $ (179) | 235 | (473) | ||||||||||||||||||||
Statement [LineItems] | |||||||||||||||||||||||||||||||||
Net income | 2,337 | 2,249 | 2,249 | 30 | 2,279 | 58 | |||||||||||||||||||||||||||
Other comprehensive income (loss) | (1,041) | (1,040) | (1,040) | (1) | (1,006) | (108) | 83 | (71) | 62 | ||||||||||||||||||||||||
Total comprehensive income | 1,296 | 2,249 | 1,209 | 30 | 1,239 | 57 | (1,006) | (108) | 83 | (71) | 62 | ||||||||||||||||||||||
Shares issued | 54 | 62 | (8) | 54 | 54 | ||||||||||||||||||||||||||||
Shares repurchased/redeemed | (178) | (29) | (149) | (178) | (178) | ||||||||||||||||||||||||||||
Dividends and distributions paid to equity holders | (1,004) | (949) | (949) | (30) | (979) | (25) | |||||||||||||||||||||||||||
Share-based payments | [3] | 4 | 4 | 4 | 4 | ||||||||||||||||||||||||||||
Ending Balance at Jan. 31, 2018 | 61,187 | 15,677 | 38,704 | 112 | 55,081 | 4,579 | 59,660 | 1,527 | 855 | 76 | (96) | 164 | (411) | ||||||||||||||||||||
Beginning Balance (Previously stated [member]) at Oct. 31, 2018 | 67,680 | 18,234 | 41,414 | 404 | 61,044 | 4,184 | 65,228 | 2,452 | 1,441 | (68) | (126) | (121) | (134) | ||||||||||||||||||||
Beginning Balance (Increase (decrease) due to changes in accounting policy required by IFRSs [member]) at Oct. 31, 2018 | [4] | $ (58) | $ (58) | $ (58) | $ (58) | ||||||||||||||||||||||||||||
Beginning Balance (Balance After IFRS Adjustments [member]) at Oct. 31, 2018 | 67,622 | 18,234 | 41,356 | 404 | 60,986 | 4,184 | 65,170 | 2,452 | 1,441 | (68) | (126) | (121) | (134) | ||||||||||||||||||||
Beginning Balance at Oct. 31, 2018 | 67,680 | ||||||||||||||||||||||||||||||||
Statement [LineItems] | |||||||||||||||||||||||||||||||||
Net income | 2,247 | [5] | 2,107 | 2,107 | 29 | 2,136 | 111 | ||||||||||||||||||||||||||
Other comprehensive income (loss) | 696 | 595 | 595 | 101 | 562 | 57 | 20 | 257 | (301) | ||||||||||||||||||||||||
Total comprehensive income | 2,943 | 2,107 | 2,702 | 29 | 2,731 | 212 | 562 | 57 | 20 | 257 | (301) | ||||||||||||||||||||||
Shares issued | 93 | 110 | (17) | 93 | 93 | ||||||||||||||||||||||||||||
Shares repurchased/redeemed | (534) | (48) | (186) | (234) | (300) | (534) | |||||||||||||||||||||||||||
Dividends and distributions paid to equity holders | (1,101) | (1,041) | (1,041) | (29) | (1,070) | (31) | |||||||||||||||||||||||||||
Share-based payments | [3] | 4 | 4 | 4 | 4 | ||||||||||||||||||||||||||||
Other | 139 | 15 | 15 | 15 | 124 | [6] | |||||||||||||||||||||||||||
Ending Balance at Jan. 31, 2019 | $ 69,166 | $ 18,296 | $ 42,236 | $ 406 | $ 62,525 | $ 3,884 | $ 66,409 | $ 2,757 | $ 2,003 | $ (11) | $ (106) | $ 136 | $ (435) | ||||||||||||||||||||
[1] | Includes undistributed retained earnings of $62 (January 31, 2018 - $58) related to a foreign associated corporation, which is subject to local regulatory restriction. | ||||||||||||||||||||||||||||||||
[2] | Includes Share from associates, Employee benefits and Own credit risk. | ||||||||||||||||||||||||||||||||
[3] | Represents amounts on account of share-based payments (refer to Note 14). | ||||||||||||||||||||||||||||||||
[4] | Refer to Note 4 for a summary of the adjustments on initial application of IFRS 15. | ||||||||||||||||||||||||||||||||
[5] | The amounts for the period ended January 31, 2019, have been prepared in accordance with IFRS 15; prior period amounts have not been restated (refer to Notes 3 and 4). | ||||||||||||||||||||||||||||||||
[6] | Includes changes to non-controlling interests arising from business combinations and related transactions. |
Consolidated Statement of Cha_2
Consolidated Statement of Changes in Equity (Parenthetical) - CAD ($) $ in Millions | 3 Months Ended | |
Jan. 31, 2019 | Jan. 31, 2018 | |
Disclosure Of Restatement [abstract] | ||
Undistributed retained earnings | $ 62 | $ 58 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - CAD ($) $ in Millions | 3 Months Ended | |||
Jan. 31, 2019 | Jan. 31, 2018 | |||
Cash flows from operating activities | ||||
Net income | $ 2,247 | [1] | $ 2,337 | |
Adjustment for: | ||||
Net interest income | (4,274) | [1] | (3,936) | |
Depreciation and amortization | 248 | [1] | 199 | |
Provision for credit losses | 688 | [1] | 544 | |
Equity-settled share-based payment expense | 4 | [1] | 4 | |
Net gain on sale of investment securities | (22) | [1] | (35) | |
Net income from investments in associated corporations | (129) | [1] | (110) | |
Income tax expense | 498 | [1] | 709 | |
Changes in operating assets and liabilities: | ||||
Trading assets | (6,202) | [1] | (8,315) | |
Securities purchased under resale agreements and securities borrowed | (23,996) | [1] | 4,493 | |
Loans | (10,578) | [1] | (6,378) | |
Deposits | 12,320 | [1] | 22,505 | |
Obligations related to securities sold short | (645) | [1] | 2,271 | |
Obligations related to securities sold under repurchase agreements and securities lent | 15,175 | [1] | (2,031) | |
Net derivative financial instruments | 4,199 | [1] | 3,022 | |
Other, net | (4,620) | [1] | (9,844) | |
Dividends received | 95 | [1] | 81 | |
Interest received | 8,043 | [1] | 6,516 | |
Interest paid | (3,703) | [1] | (2,741) | |
Income tax paid | (957) | [1] | (613) | |
Net cash from/(used in) operating activities | (11,609) | [1] | 8,678 | |
Cash flows from investing activities | ||||
Interest-bearing deposits with financial institutions | 10,453 | [1] | 435 | |
Purchase of investment securities | (17,693) | [1] | (26,550) | |
Proceeds from sale and maturity of investment securities | 19,007 | [1] | 18,724 | |
Acquisition/sale of subsidiaries, associated corporations or business units, net of cash acquired | 0 | [1] | 0 | |
Property and equipment, net of disposals | (17) | [1] | (24) | |
Other, net | (214) | [1] | (115) | |
Net cash from/(used in) investing activities | 11,536 | [1] | (7,530) | |
Cash flows from financing activities | ||||
Proceeds from issue of subordinated debentures | [1] | 1,750 | ||
Redemption/repayment of subordinated debentures | (112) | |||
Redemption of preferred shares | [1] | (300) | ||
Proceeds from common shares issued | 110 | [1] | 62 | |
Common shares purchased for cancellation | (234) | [1] | (178) | |
Cash dividends and distributions paid | (1,070) | [1] | (979) | |
Distributions to non-controlling interests | (31) | [1] | (25) | |
Other, net | 580 | [1] | 267 | |
Net cash from/(used in) financing activities | 805 | [1] | (965) | |
Effect of exchange rate changes on cash and cash equivalents | 70 | [1] | (176) | |
Net change in cash and cash equivalents | 802 | [1] | 7 | |
Cash and cash equivalents at beginning of period | [2] | 8,997 | [1] | 7,825 |
Cash and cash equivalents at end of period | [2] | $ 9,799 | [1] | $ 7,832 |
[1] | The amounts for the period ended January 31, 2019, have been prepared in accordance with IFRS 15; prior period amounts have not been restated (refer to Notes 3 and 4). | |||
[2] | Represents cash and non-interest-bearing deposits with financial institutions (refer to Note 6). |
Reporting entity
Reporting entity | 3 Months Ended |
Jan. 31, 2019 | |
Text block [abstract] | |
Reporting entity | 1. Reporting entity The Bank of Nova Scotia (the Bank) is a chartered bank under the Bank Act (Canada) (the Bank Act). The Bank is a Schedule I Bank under the Bank Act and is regulated by the Office of the Superintendent of Financial Institutions (OSFI). The Bank is a global financial services provider offering a diverse range of products and services, including personal, commercial, corporate and investment banking. The head office of the Bank is located at 1709 Hollis Street, Halifax, Nova Scotia, Canada and its executive offices are at Scotia Plaza, 44 King Street West, Toronto, Canada. The common shares of the Bank are listed on the Toronto Stock Exchange and the New York Stock Exchange. |
Basis of preparation
Basis of preparation | 3 Months Ended |
Jan. 31, 2019 | |
Text block [abstract] | |
Basis of preparation | 2. Basis of preparation Statement of compliance These condensed interim consolidated financial statements of the Bank have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) and accounting requirements of OSFI in accordance with Section 308 of the Bank Act. Section 308 states that except as otherwise specified by OSFI, the financial statements are to be prepared in accordance with IFRS. These condensed interim consolidated financial statements were prepared in accordance with International Accounting Standard 34, Interim Financial Reporting The condensed interim consolidated financial statements for the quarter ended January 31, 2019 have been approved by the Board of Directors for issue on February 26, 2019. Certain comparative amounts have been restated to conform with the basis of presentation in the current period. Basis of measurement The condensed interim consolidated financial statements have been prepared on the historical cost basis except for the following material items that are measured at fair value in the Consolidated Statement of Financial Position: • Financial assets and liabilities measured at fair value through profit or loss • Financial assets and liabilities designated at fair value through profit or loss • Derivative financial instruments • Equity instruments designated at fair value through other comprehensive income • Debt instruments measured at fair value through other comprehensive income Functional and presentation currency These condensed interim consolidated financial statements are presented in Canadian dollars, which is the Bank’s functional currency. All financial information presented in Canadian dollars has been rounded to the nearest million unless otherwise stated. Use of estimates and judgments The preparation of financial statements, in conformity with IFRS, requires management to make estimates, apply judgments and make assumptions that affect the reported amount of assets and liabilities at the date of the condensed interim consolidated financial statements, and income and expenses during the reporting period. Estimates made by management are based on historical experience and other assumptions that are believed to be reasonable. Key areas where management has made difficult, complex or subjective judgments, often as a result of matters that are inherently uncertain, include those relating to the allowance for credit losses, the fair value of financial instruments (including derivatives), corporate income taxes, employee benefits, the fair value of all identifiable assets and liabilities as a result of business combinations, impairment of non-financial |
Significant accounting policies
Significant accounting policies | 3 Months Ended |
Jan. 31, 2019 | |
Text block [abstract] | |
Significant accounting policies | Significant accounting policies These condensed interim consolidated financial statements should be read in conjunction with the Bank’s audited consolidated financial statements for the year ended October 31, 2018. The significant accounting policies used in the preparation of these condensed interim consolidated financial statements are consistent with those used in the Bank’s audited consolidated financial statements for the year ended October 31, 2018, as described in Note 3 of the Bank’s consolidated financial statements in the 2018 Annual Report, except for changes to the accounting for revenue from contracts with customers as a result of adopting IFRS 15, Revenue from Contracts with Customers Card revenues Banking services fees Mutual funds fees Brokerage fees Investment management and trust fees Underwriting and other advisory fees Other fees and commissions |
Transition to IFRS 15
Transition to IFRS 15 | 3 Months Ended |
Jan. 31, 2019 | |
Text block [abstract] | |
Transition to IFRS 15 | 4. Transition to IFRS 15 On November 1, 2018, the Bank adopted IFRS 15, Revenue from Contracts with Customers Revenue The Bank adopted IFRS 15 using the modified retrospective approach and accordingly, comparative periods have not been restated. The Bank recorded a cumulative-effect adjustment to decrease opening retained earnings on November 1, 2018 of $58 million (net of tax). This adjustment relates to certain costs that are no longer eligible for deferral under the new standard and the remeasurement of certain liabilities at fulfilment cost. For the quarter, the impact of IFRS 15 was a decrease in non-interest income and non-interest expenses of approximately $55 million, representing certain loyalty rewards previously recorded in non-interest expenses and now being recorded as a reduction to non-interest income. |
Future accounting developments
Future accounting developments | 3 Months Ended |
Jan. 31, 2019 | |
Text block [abstract] | |
Future accounting developments | Future accounting developments There are no significant updates to the future accounting developments disclosed in Note 5 of the Bank’s audited consolidated financial statements in the 2018 Annual Report, other than the following: IFRS 17 – Insurance Contracts The Bank is required to adopt IFRS 17 Insurance Contracts On November 14, 2018 the IASB tentatively decided to defer the effective date, by one year, to annual periods on or after January 1, 2022. The deferral is subject to public consultation during 2019. The IASB, based on feedback from stakeholders, continues to deliberate on potential changes to the standard. The Bank will continue to monitor developments related to the standard and provide further updates as final decisions are published by the IASB. |
Cash and deposits with financia
Cash and deposits with financial institutions | 3 Months Ended |
Jan. 31, 2019 | |
Text block [abstract] | |
Cash and deposits with financial institutions | 6. Cash and deposits with financial institutions As at ($ millions) January 31 October 31 Cash and non-interest-bearing $ 9,799 $ 8,997 Interest-bearing deposits with financial institutions 43,143 53,272 Total $ 52,942 (1) $ 62,269 (1) (1) Net of impairment allowances of $5 (October 31, 2018 – $3). The Bank is required to maintain balances with central banks, other regulatory authorities and certain counterparties and these amounted to $9,286 million (October 31, 2018 – $8,886 million) and are included above. |
Investment securities
Investment securities | 3 Months Ended |
Jan. 31, 2019 | |
Text block [abstract] | |
Investment securities | 7. Investment securities The following table presents the carrying amounts of the Bank’s investment securities per measurement category. As at ($ millions) January 31 October 31 Debt investment securities measured at FVOCI $ 55,530 $ 55,843 Debt investment securities measured at amortized cost 20,651 20,743 Equity investment securities designated at FVOCI 1,253 1,305 Equity investment securities measured at FVTPL 552 505 Total investment securities $ 77,986 $ 78,396 (a) Debt investment securities measured at fair value through other comprehensive income (FVOCI) As at January 31, 2019 ($ millions) Cost Gross Gross Fair Canadian federal government issued or guaranteed debt $ 7,733 $ 109 $ 10 $ 7,832 Canadian provincial and municipal debt 3,546 7 25 3,528 U.S. treasury and other U.S. agency debt 20,609 146 64 20,691 Other foreign government debt 19,684 54 50 19,688 Other debt 3,800 14 23 3,791 Total debt investment securities measured at FVOCI $ 55,372 $ 330 $ 172 $ 55,530 As at October 31, 2018 ($ millions) Cost Gross Gross Fair value Canadian federal government issued or guaranteed debt $ 8,903 $ 38 $ 50 $ 8,891 Canadian provincial and municipal debt 4,403 3 54 4,352 U.S. treasury and other U.S. agency debt 19,298 6 163 19,141 Other foreign government debt 20,022 49 81 19,990 Other debt 3,503 6 40 3,469 Total debt investment securities measured at FVOCI $ 56,129 $ 102 $ 388 $ 55,843 (b) Debt investment securities measured at amortized cost As at January 31, 2019 October 31, 2018 ($ millions) Fair value Carrying value (1) Fair value Carrying value (1) Canadian federal and provincial government issued or guaranteed debt $ 5,927 $ 6,011 $ 6,530 $ 6,681 U.S. treasury and other U.S. agency debt 4,165 4,256 4,321 4,462 Other foreign government debt 2,893 2,915 3,086 3,131 Corporate debt 7,474 7,469 6,379 6,469 Total debt investment securities measured at amortized cost $ 20,459 $ 20,651 $ 20,316 $ 20,743 (1) Balances are net of impairment allowances of nil (October 31, 2018 – $1). (c) Equity investment securities designated as at fair value through other comprehensive income (FVOCI) The Bank has designated certain instruments, shown in the following table, as equity securities FVOCI, as these investments are expected to be held for the long-term for strategic purposes. As at January 31, 2019 ($ millions) Cost Gross Gross Fair Preferred equity instruments $ 267 $ – $ 85 $ 182 Common shares 941 146 16 1,071 Total equity investment securities designated at FVOCI $ 1,208 $ 146 $ 101 $ 1,253 As at October 31, 2018 ($ millions) Cost Gross Gross Fair Preferred equity instruments $ 334 $ – $ 54 $ 280 Common shares 937 126 38 1,025 Total equity investment securities designated at FVOCI $ 1,271 $ 126 $ 92 $ 1,305 |
Loans, impaired loans and allow
Loans, impaired loans and allowance for credit losses | 3 Months Ended |
Jan. 31, 2019 | |
Text block [abstract] | |
Loans, impaired loans and allowance for credit losses | Loans, impaired loans and allowance for credit losses (a) Loans at amortized cost As at January 31, 2019 October 31, 2018 ($ millions) Gross Allowance Net Gross Allowance Net Residential mortgages $ 258,649 $ 709 $ 257,940 $ 253,357 $ 678 $ 252,679 Personal loans 96,650 2,111 94,539 96,019 2,109 93,910 Credit cards 17,124 1,212 15,912 16,485 1,213 15,272 Business and government 198,793 1,079 197,714 191,038 1,065 189,973 Total $ 571,216 $ 5,111 $ 566,105 $ 556,899 $ 5,065 $ 551,834 (b) Impaired loans (1)(2) As at January 31, 2019 October 31, 2018 ($ millions) Gross Allowance for Net Gross Allowance for Net Residential mortgages $ 1,868 $ 362 $ 1,506 $ 1,797 $ 360 $ 1,437 Personal loans 1,108 640 468 1,069 644 425 Credit cards – – – – – – Business and government 2,311 678 1,633 2,264 673 1,591 Total $ 5,287 $ 1,680 $ 3,607 $ 5,130 $ 1,677 $ 3,453 By geography: Canada $ 1,058 $ 367 $ 691 $ 999 $ 381 $ 618 United States 108 24 84 80 25 55 Mexico 413 172 241 359 164 195 Peru 615 338 277 581 317 264 Chile 793 158 635 753 158 595 Colombia 607 162 445 619 159 460 Other international 1,693 459 1,234 1,739 473 1,266 Total $ 5,287 $ 1,680 $ 3,607 $ 5,130 $ 1,677 $ 3,453 (1) Interest income recognized on impaired loans during the three months ended January 31, 2019 was $14 (October 31, 2018 – $12). (2) Additional interest income of approximately $94 would have been recorded if the above loans had not been classified as impaired (October 31, 2018 – $93). (c) Allowance for credit losses Key inputs and assumptions The Bank’s allowance calculations are outputs of complex models with a number of underlying assumptions regarding the choice of variable inputs. Some of the key drivers include the following: • Changes in risk ratings of the borrower or instrument reflecting changes in their credit quality; • Changes in the volumes of transactions; • Changes in the forward-looking macroeconomic environment reflected in the variables used in the models such as GDP growth, unemployment rates, commodity prices, and house price indices, which are most closely related with credit losses in the relevant portfolio; • Changes in macroeconomic scenarios and the probability weights assigned to each scenario; and • Borrower migration between the three stages which can result from changes to any of the above inputs and assumptions. ($ millions) Balance as at Provision for Net write-offs Other, including Balance as at Residential mortgages $ 678 $ 32 $ (18 ) $ 17 $ 709 Personal loans 2,109 366 (408 ) 44 2,111 Credit cards 1,213 225 (257 ) 31 1,212 Business and government 1,147 62 (49 ) (3 ) 1,157 $ 5,147 $ 685 $ (732 ) $ 89 $ 5,189 Presented as: Allowance for credit losses on loans $ 5,065 $ 5,111 Allowance for credit losses on acceptances 8 9 Allowance for credit losses on off-balance 74 69 As at January 31, 2019 ($ millions) Stage 1 Stage 2 Stage 3 Total Residential mortgages $ 121 $ 226 $ 362 $ 709 Personal loans 596 875 640 2,111 Credit cards 410 802 – 1,212 Business and government 152 249 678 1,079 Total (1) $ 1,279 $ 2,152 $ 1,680 $ 5,111 (1) Excludes, allowance for credit losses for other financial assets including acceptances, investment securities, deposits with banks and off-balance As at October 31, 2018 ($ millions) Stage 1 Stage 2 Stage 3 Total Residential mortgages $ 112 $ 206 $ 360 $ 678 Personal loans 578 887 644 2,109 Credit cards 401 812 – 1,213 Business and government 132 260 673 1,065 Total (1) $ 1,223 $ 2,165 $ 1,677 $ 5,065 (1) Excludes, allowance for credit losses for other financial assets including acceptances, investment securities, deposits with banks and off-balance The following table presents the changes to the allowance for credit losses on loans. As at January 31, 2019 As at January 31, 2018 ($ millions) Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Residential mortgages Balance at beginning of period $ 112 $ 206 $ 360 $ 678 $ 103 $ 214 $ 400 $ 717 Provision for credit losses Remeasurement (1) (24 ) 8 29 13 (22 ) 2 33 13 Newly originated or purchased financial assets 23 – – 23 8 – – 8 Derecognition of financial assets and maturities (1 ) (3 ) – (4 ) – (1 ) – (1 ) Changes in models and methodologies – – – – – – – – Transfer to (from): Stage 1 12 (11 ) (1 ) – 26 (23 ) (3 ) – Stage 2 (5 ) 28 (23 ) – (8 ) 24 (16 ) – Stage 3 – (9 ) 9 – – (10 ) 10 – Gross write-offs – – (20 ) (20 ) – – (26 ) (26 ) Recoveries – – 2 2 – – 8 8 Foreign exchange and other movements 4 7 6 17 (2 ) (7 ) (12 ) (21 ) Balance at end of period (2) $ 121 $ 226 $ 362 $ 709 $ 105 $ 199 $ 394 $ 698 Personal loans Balance at beginning of period $ 578 $ 887 $ 644 $ 2,109 $ 477 $ 802 $ 600 $ 1,879 Provision for credit losses Remeasurement (1) (152 ) 140 304 292 (110 ) 145 239 274 Newly originated or purchased financial assets 118 – – 118 90 – – 90 Derecognition of financial assets and maturities (19 ) (25 ) – (44 ) (22 ) (26 ) – (48 ) Changes in models and methodologies – – – – – – – – Transfer to (from): Stage 1 108 (107 ) (1 ) – 117 (114 ) (3 ) – Stage 2 (46 ) 66 (20 ) – (54 ) 79 (25 ) – Stage 3 (1 ) (79 ) 80 – (1 ) (70 ) 71 – Gross write-offs – – (480 ) (480 ) – – (344 ) (344 ) Recoveries – – 72 72 – – 64 64 Foreign exchange and other movements 10 (7 ) 41 44 (4 ) (4 ) (4 ) (12 ) Balance at end of period (2) $ 596 $ 875 $ 640 $ 2,111 $ 493 $ 812 $ 598 $ 1,903 Credit cards Balance at beginning of period $ 401 $ 812 $ – $ 1,213 $ 364 $ 799 $ – $ 1,163 Provision for credit losses Remeasurement (1) (68 ) 108 170 210 (52 ) 91 152 191 Newly originated or purchased financial assets 46 – – 46 95 – – 95 Derecognition of financial assets and maturities (14 ) (17 ) – (31 ) (51 ) (51 ) – (102 ) Changes in models and methodologies – – – – – – – – Transfer to (from): Stage 1 69 (69 ) – – 61 (61 ) – – Stage 2 (32 ) 32 – – (55 ) 55 – – Stage 3 – (70 ) 70 – (1 ) (53 ) 54 – Gross write-offs – – (312 ) (312 ) – – (260 ) (260 ) Recoveries – – 55 55 – – 56 56 Foreign exchange and other movements 8 6 17 31 (5 ) 5 (2 ) (2 ) Balance at end of period (2) $ 410 $ 802 $ – $ 1,212 $ 356 $ 785 $ – $ 1,141 Business and government Balance at beginning of period $ 173 $ 291 $ 675 $ 1,139 $ 178 $ 307 $ 760 $ 1,245 Provision for credit losses Remeasurement (1) (16 ) 12 69 65 (30 ) 20 54 44 Newly originated or purchased financial assets 39 – – 39 56 – – 56 Derecognition of financial assets and maturities (27 ) (8 ) (7 ) (42 ) (29 ) (36 ) (7 ) (72 ) Changes in models and methodologies – – – – – – – – Transfer to (from): Stage 1 30 (30 ) – – 26 (26 ) – – Stage 2 (5 ) 7 (2 ) – (37 ) 37 – – Stage 3 – (2 ) 2 – (1 ) (4 ) 5 – Gross write-offs – – (65 ) (65 ) – – (118 ) (118 ) Recoveries – – 16 16 – – 18 18 Foreign exchange and other movements 3 2 (9 ) (4 ) (4 ) (9 ) (10 ) (23 ) Balance at end of period including off-balance (2) $ 197 $ 272 $ 679 $ 1,148 $ 159 $ 289 $ 702 $ 1,150 Less: Allowance for credits losses on off-balance (3) (45 ) (23 ) (1 ) (69 ) (40 ) (31 ) (4 ) (75 ) Balance at end of period (2) $ 152 $ 249 $ 678 $ 1,079 $ 119 $ 258 $ 698 $ 1,075 (1) Includes credit risk changes as a result of significant increases in credit risk, changes in credit risk that did not result in a transfer between stages, changes in model inputs and assumptions and changes due to drawdowns of undrawn commitments. (2) Interest income on impaired loans for residential mortgages, personal and credit cards, and business and government loans totaled $94 (October 31, 2018 – $93). (3) Allowance for credit losses on off-balance (4) Allowance for credit losses on acceptances are recorded against the financial asset in the Consolidated Statement of Financial Position. (5) There are no accumulated credit losses on purchased or originated credit impaired loans. (d) Carrying value of exposures by risk rating Residential mortgages As at January 31, 2019 As at October 31, 2018 Category of PD grades ($ millions) Stage 1 Stage 2 Stage 3 (2) Total Stage 1 Stage 2 Stage 3 (2) Total Very low $ 147,899 $ 420 $ – $ 148,319 $ 146,461 $ 307 $ – $ 146,768 Low 58,299 513 – 58,812 58,154 378 – 58,532 Medium 13,008 1,046 – 14,054 11,689 972 – 12,661 High 1,556 3,443 – 4,999 1,615 3,515 – 5,130 Very high 14 1,955 – 1,969 25 1,779 – 1,804 Loans not graded (1) 24,863 3,765 – 28,628 23,139 3,526 – 26,665 Default – – 1,868 1,868 – – 1,797 1,797 Total $ 245,639 $ 11,142 $ 1,868 $ 258,649 $ 241,083 $ 10,477 $ 1,797 $ 253,357 Allowance for credit losses 121 226 362 709 112 206 360 678 Carrying value $ 245,518 $ 10,916 $ 1,506 $ 257,940 $ 240,971 $ 10,271 $ 1,437 $ 252,679 (1) Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category. (2) Stage 3 includes purchased or originated credit impaired loans. Personal loans As at January 31, 2019 As at October 31, 2018 Category of PD grades ($ millions) Stage 1 Stage 2 Stage 3 (2) Total Stage 1 Stage 2 Stage 3 (2) Total Very low $ 30,351 $ 68 $ – $ 30,419 $ 30,660 $ 66 $ – $ 30,726 Low 25,941 175 – 26,116 26,039 151 – 26,190 Medium 8,614 407 – 9,021 8,315 402 – 8,717 High 6,909 3,548 – 10,457 6,686 3,647 – 10,333 Very high 63 1,499 – 1,562 58 1,362 – 1,420 Loans not graded (1) 15,694 2,273 – 17,967 15,452 2,112 – 17,564 Default – – 1,108 1,108 – – 1,069 1,069 Total $ 87,572 $ 7,970 $ 1,108 $ 96,650 $ 87,210 $ 7,740 $ 1,069 $ 96,019 Allowance for credit losses 596 875 640 2,111 578 887 644 2,109 Carrying value $ 86,976 $ 7,095 $ 468 $ 94,539 $ 86,632 $ 6,853 $ 425 $ 93,910 (1) Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category. (2) Stage 3 includes purchased or originated credit impaired loans. Credit cards As at January 31, 2019 As at October 31, 2018 Category of PD grades ($ millions) Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Very low $ 1,468 $ 5 $ – $ 1,473 $ 1,418 $ 5 $ – $ 1,423 Low 2,544 18 – 2,562 2,436 14 – 2,450 Medium 3,550 46 – 3,596 3,358 71 – 3,429 High 3,176 1,457 – 4,633 2,929 1,455 – 4,384 Very high 37 722 – 759 37 697 – 734 Loans not graded (1) 2,884 1,217 – 4,101 2,906 1,159 – 4,065 Default – – – – – – – – Total $ 13,659 $ 3,465 $ – $ 17,124 $ 13,084 $ 3,401 $ – $ 16,485 Allowance for credit losses 410 802 – 1,212 401 812 – 1,213 Carrying value $ 13,249 $ 2,663 $ – $ 15,912 $ 12,683 $ 2,589 $ – $ 15,272 (1) Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category. Undrawn loan commitments – Retail As at January 31, 2019 As at October 31, 2018 Category of PD grades ($ millions) Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Very low $ 73,395 $ – $ – $ 73,395 $ 72,321 $ – $ – $ 72,321 Low 16,853 2 – 16,855 16,531 2 – 16,533 Medium 6,403 83 – 6,486 6,029 79 – 6,108 High 2,815 710 – 3,525 2,631 670 – 3,301 Very high 25 371 – 396 26 367 – 393 Loans not graded (1) 13,070 2,709 – 15,779 14,774 3,364 – 18,138 Default – – – – – – – – Carrying value $ 112,561 $ 3,875 $ – $ 116,436 $ 112,312 $ 4,482 $ – $ 116,794 (1) Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category. Business and government loans As at January 31, 2019 As at October 31, 2018 Grade ($ millions) Stage 1 Stage 2 Stage 3 (2) Total Stage 1 Stage 2 Stage 3 (2) Total Investment grade $ 92,881 $ 4,493 $ – $ 97,374 $ 87,047 $ 3,770 $ – $ 90,817 Non-investment 85,043 9,631 – 94,674 83,730 9,706 – 93,436 Watch list 170 2,512 – 2,682 130 2,689 – 2,819 Loans not graded (1) 1,522 230 – 1,752 1,050 652 – 1,702 Default – – 2,311 2,311 – – 2,264 2,264 Total $ 179,616 $ 16,866 $ 2,311 $ 198,793 $ 171,957 $ 16,817 $ 2,264 $ 191,038 Allowance for credit losses 152 249 678 1,079 132 260 673 1,065 Carrying value $ 179,464 $ 16,617 $ 1,633 $ 197,714 $ 171,825 $ 16,557 $ 1,591 $ 189,973 (1) Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category. (2) Stage 3 includes purchased or originated credit impaired loans. Undrawn loan commitments – Business and As at January 31, 2019 As at October 31, 2018 Grade ($ millions) Stage 1 Stage 2 Stage 3 (2) Total Stage 1 Stage 2 Stage 3 (2) Total Investment grade $ 162,223 $ 5,092 $ – $ 167,315 $ 159,880 $ 1,663 $ – $ 161,543 Non-investment 60,588 3,793 – 64,381 56,001 3,445 – 59,446 Watch list 3 1,071 – 1,074 81 977 – 1,058 Loans not graded (1) 2,106 233 – 2,339 2,178 28 – 2,206 Default – – 4 4 – – 4 4 Total $ 224,920 $ 10,189 $ 4 $ 235,113 $ 218,140 $ 6,113 $ 4 $ 224,257 Allowance for credit losses 45 23 1 69 41 31 2 74 Carrying value $ 224,875 $ 10,166 $ 3 $ 235,044 $ 218,099 $ 6,082 $ 2 $ 224,183 (1) Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category. (2) Stage 3 includes purchased or originated credit impaired loans. (e) Loans past due but not impaired (1) A loan is considered past due when a counterparty has not made a payment by the contractual due date. The following table presents the carrying value of loans that are contractually past due but not classified as impaired because they are either less than 90 days past due or fully secured and collection efforts are reasonably expected to result in repayment, or restoring it to a current status in accordance with the Bank’s policy. As at January 31, 2019 As at October 31, 2018 ($ millions) 31-60 61-90 91 days (2) Total 31-60 61-90 91 days (2) Total Residential mortgages $ 1,256 $ 592 $ – $ 1,848 $ 1,290 $ 521 $ – $ 1,811 Personal loans 614 367 – 981 609 322 – 931 Credit cards 230 161 380 771 231 154 353 738 Business and government 220 69 – 289 167 40 – 207 Total $ 2,320 $ 1,189 $ 380 $ 3,889 $ 2,297 $ 1,037 $ 353 $ 3,687 (1) Loans past due 30 days or less are not presented in this analysis as they are not administratively considered past due. (2) All loans that are over 90 days past due are considered impaired with the exception of credit card receivables which are considered impaired when 180 days past due. (f) Loans acquired under FDIC guarantee Loans purchased as part of the acquisition of R-G (g) Purchased credit-impaired loans Certain financial assets including loans are credit-impaired on initial recognition either through acquisition or origination. The following table provides details of such assets: As at ($ millions) January 31 October 31 Unpaid principal balance (1) $ 533 $ 548 Credit related fair value adjustments (156 ) (168 ) Carrying value 377 380 Stage 3 allowance – – Carrying value net related allowance $ 377 $ 380 (1) Represents principal amount owed net of write-offs. |
Derecognition of financial asse
Derecognition of financial assets | 3 Months Ended |
Jan. 31, 2019 | |
Text block [abstract] | |
Derecognition of financial assets | 9. Derecognition of financial assets Securitization of residential mortgage loans The Bank securitizes fully insured residential mortgage loans, Bank originated and others, through the creation of mortgage backed securities (MBS) under the National Housing Act (NHA) MBS program, sponsored by Canada Mortgage Housing Corporation (CMHC). MBS created under the program are sold to Canada Housing Trust (the Trust), a government sponsored entity under the Canada Mortgage Bond (CMB) program, and/or to third-party investors. The Trust issues securities to third-party investors. The sale of mortgages under the above program does not meet the derecognition requirements, as the Bank retains the pre-payment The transferred mortgages continue to be recognized on the Consolidated Statement of Financial Position as residential mortgage loans. Cash proceeds from the transfer are treated as secured borrowings and included in Deposits – Business and government on the Consolidated Statement of Financial Position. The following table provides the carrying amount of transferred assets that do not qualify for derecognition and the associated liabilities: As at ($ millions) January 31 (1) October 31 (1) Assets Carrying value of residential mortgage loans $ 20,439 $ 20,498 Other related assets (2) 2,963 2,679 Liabilities Carrying value of associated liabilities 21,173 21,459 (1) The fair value of the transferred assets is $23,755 (October 31, 2018 – $23,237) and the fair value of the associated liabilities is $22,560 (October 31, 2018 – $22,468) for a net position of $1,195 (October 31, 2018 – $769). (2) These include cash held in trust and trust permitted investment assets acquired as part of the principal reinvestment account that the Bank is required to maintain in order to participate in the programs. Securitization of personal lines of credit, credit cards and auto loans The Bank securitizes a portion of its unsecured personal lines of credit, credit card and auto loan receivables through consolidated structured entities. These receivables continue to be recognized on the Consolidated Statement of Financial Position as personal and credit cards loans. Securities sold under repurchase agreements and securities lent The Bank enters into transactions, such as repurchase agreements and securities lending agreements, where the Bank transfers assets under agreements to repurchase them on a future date and retains all the substantial risks and rewards associated with the assets. The transferred securities remain on the Consolidated Statement of Financial Position along with the cash collateral received from the counterparty that is classified as deposit liabilities. The following table provides the carrying amount of the transferred assets and the associated liabilities: As at ($ millions) January 31 (1) October 31 (1) Carrying value of securities associated with: Repurchase agreements (2) $ 91,557 $ 82,816 Securities lending agreements 56,450 49,718 Total 148,007 132,534 Carrying value of associated liabilities (3) $ 116,527 $ 101,257 (1) The fair value of transferred assets is $148,007 (October 31, 2018 – $132,534) and the fair value of the associated liabilities is $116,527 (October 31, 2018 – $101,257) for a net position of $31,480 (October 31, 2018 – $31,277). (2) Does not include over-collateralization of assets pledged. (3) Liabilities for securities lending arrangements only include amounts related to cash collateral received. In most cases, securities are received as collateral. |
Investments in associates
Investments in associates | 3 Months Ended |
Jan. 31, 2019 | |
Investments accounted for using equity method [abstract] | |
Investments in associates | 10. Investments in associates The Bank had significant investments in the following associates: As at January 31 October 31 ($ millions) Country of Nature of Ownership Date of financial (1) Carrying Carrying Thanachart Bank Public Company Limited Thailand Banking 49.0% January 31, 2019 $ 3,218 $ 2,961 Canadian Tire’s Financial Services business (CTFS) (2) Canada Financial Services 20.0% December 31, 2018 518 518 Bank of Xi’an Co. Ltd. China Banking 19.9% December 31, 2018 822 772 Maduro & Curiel’s Bank N.V. (3) Curacao Banking 48.1% December 31, 2018 305 304 (1) Represents the date of the most recent financial statements made available to the Bank by the associates’ management. (2) Under the agreement Canadian Tire has an option to sell to the Bank up to an additional 29% equity interest within the next 10 years at the then fair value, that can be settled, at the Bank’s discretion, by issuance of common shares or cash. After 10 years, for a period of six months, the Bank has the option to sell its equity interest back to Canadian Tire at the then fair value. (3) The local regulator requires financial institutions to set aside reserves for general banking risks. These reserves are not required under IFRS, and represent undistributed retained earnings related to a foreign associated corporation, which are subject to local regulatory restrictions. As of January 31, 2019, these reserves amounted to $62 (October 31, 2018 – $62). |
Deposits
Deposits | 3 Months Ended |
Jan. 31, 2019 | |
Text block [abstract] | |
Deposits | 11. Deposits As at January 31, 2019 October 31 2018 Payable on demand (1) Payable after notice (2) Payable on a fixed date (3) Total ($ millions) Interest- bearing Non-interest- bearing Total Personal $ 7,163 $ 8,347 $ 125,874 $ 80,537 $ 221,921 $ 214,545 Business and government 94,594 24,664 33,137 282,354 434,749 422,002 Financial institutions 5,922 495 1,606 26,186 34,209 39,987 $ 107,679 $ 33,506 $ 160,617 (4) $ 389,077 $ 690,879 $ 676,534 Recorded in: Canada $ 79,453 $ 16,512 $ 123,731 $ 251,813 $ 471,509 $ 472,798 United States 16,895 130 7,758 45,766 70,549 59,938 United Kingdom – – 271 16,788 17,059 16,847 Mexico 11 5,020 6,067 12,348 23,446 21,151 Peru 4,257 135 4,206 7,406 16,004 15,213 Chile 2,864 3,300 153 18,780 25,097 24,180 Colombia 40 796 4,523 4,835 10,194 9,543 Other International 4,159 7,613 13,908 31,341 57,021 56,864 Total (5) $ 107,679 $ 33,506 $ 160,617 $ 389,077 $ 690,879 $ 676,534 (1) Deposits payable on demand include all deposits for which we do not have the right to notice of withdrawal, generally chequing accounts. (2) Deposits payable after notice include all deposits for which we require notice of withdrawal, generally savings accounts. (3) All deposits that mature on a specified date, generally term deposits, guaranteed investments certificates and similar instruments. (4) Includes $128 (October 31, 2018 – $141) of non-interest-bearing (5) Deposits denominated in U.S. dollars amount to $224,829 (October 31, 2018 – $219,195), deposits denominated in Chilean pesos amount to $23,141 (October 31, 2018 – $22,731), deposits denominated in Mexican pesos amount to $20,240 (October 31, 2018 – $18,341) and deposits denominated in other foreign currencies amount to $84,400 (October 31, 2018 – $79,582). The following table presents the maturity schedule for term deposits in Canada greater than $100,000 (1) ($ millions) Within three months Three to six months Six to twelve months One to five years Over five years Total As at January 31, 2019 $ 41,841 $ 24,422 $ 35,521 $ 96,448 $ 14,542 $ 212,774 As at October 31, 2018 $ 36,670 $ 23,913 $ 42,830 $ 99,734 $ 19,872 $ 223,019 (1) The majority of foreign term deposits are in excess of $100,000. |
Capital and financing transacti
Capital and financing transactions | 3 Months Ended |
Jan. 31, 2019 | |
Text block [abstract] | |
Capital and financing transactions | 12. Capital and financing transactions Subordinated debentures On January 18, 2019, the Bank issued $1.75 billion subordinated debentures due January 18, 2029. On or after January 18, 2024, the debentures are redeemable at par plus accrued and unpaid interest. Interest will be payable semi-annually at a rate of 3.89% per annum until January 18, 2024 and thereafter payable quarterly until January 18, 2029 at the 90 day Bankers’ Acceptance rate plus 1.58%. The debentures contain non-viability contingent capital (NVCC) provisions necessary for the debentures to qualify as Tier 2 regulatory capital. Preferred shares On January 28, 2019, the Bank redeemed all outstanding Non-Cumulative Common shares Normal Course Issuer Bid On May 29, 2018, the Bank announced that OSFI and the Toronto Stock Exchange (TSX) approved a normal course issuer bid (the “2018 NCIB”) pursuant to which it may repurchase for cancellation up to 24 million of the Bank’s common shares. Purchases under the 2018 NCIB will terminate upon earlier of: (i) the Bank purchasing the maximum number of common shares under the 2018 NCIB, (ii) the Bank providing a notice of termination, or (iii) June 3, 2019. On a quarterly basis, the Bank will notify OSFI prior to making purchases. Under the 2018 NCIB, the Bank has cumulatively repurchased and cancelled approximately 9.23 million common shares at an average price of $74.46 per share. During the quarter ended January 31, 2019, the Bank repurchased and cancelled approximately 3.25 million common shares at a volume weighted average price of $71.93 per share for a total amount of $234 million. |
Capital management
Capital management | 3 Months Ended |
Jan. 31, 2019 | |
Text block [abstract] | |
Capital management | 13. Capital management The Bank’s regulatory capital and leverage position were as follows: As at ($ millions) January 31, 2019 (1) October 31, 2018 (1) Capital Common Equity Tier 1 capital $ 45,344 $ 44,443 Net Tier 1 capital 50,869 50,187 Total regulatory capital 59,796 57,364 Risk-weighted assets/exposures used in calculation of capital ratios CET1 risk-weighted assets (1)(2) $ 408,565 $ 400,507 Tier 1 risk-weighted assets (1)(2) 408,565 400,680 Total risk-weighted assets (1)(2) 408,565 400,853 Leverage exposures 1,167,691 1,119,099 Capital ratios Common Equity Tier 1 capital ratio 11.1 % 11.1 % Tier 1 capital ratio 12.5 % 12.5 % Total capital ratio 14.6 % 14.3 % Leverage ratio 4.4 % 4.5 % (1) In accordance with OSFI’s requirements, effective January 31, 2019, CVA risk-weighted assets have been fully phased-in. In the prior year, CVA RWA were calculated using scalars of 0.80, 0.83 and 0.86 to compute the CET1 capital ratio, Tier 1 capital ratio and Total capital ratio, respectively. (2) As at January 31, 2019 and October 31, 2018, the Bank did not have a regulatory capital floor add-on The Bank substantially exceeded the OSFI minimum capital ratios as at January 31, 2019, including the Domestic Stability Buffer requirement. |
Share-based payments
Share-based payments | 3 Months Ended |
Jan. 31, 2019 | |
Text block [abstract] | |
Share-based payments | 14. Share-based payments During the first quarter, the Bank granted 1,548,832 options with an exercise price of $72.28 per option and a weighted average fair value of $5.01 to selected employees, under the terms of the Employee Stock Option Plan. These stock options vest 50% at the end of the third year and 50% at the end of the fourth year. Options granted prior to December 2014 vest evenly over a four-year period. The Bank recorded an increase to equity – other reserves of $4 million for the three months ended January 31, 2019 (January 31, 2018 – $4 million) as a result of equity-classified share-based payment expense. |
Employee benefits
Employee benefits | 3 Months Ended |
Jan. 31, 2019 | |
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Employee benefits | 15. Employee benefits Employee benefits include pensions, other post-retirement benefits, and post-employment benefits. The following table summarizes the expenses for the Bank’s principal plans (1) For the three months ended Pension plans Other benefit plans ($ millions) January 31 January 31 January 31 January 31 Defined benefit service cost (2) $ 76 $ 79 $ 7 $ (193 ) Interest on net defined benefit (asset) liability (2 ) – 13 13 Other 4 3 1 (2 ) Defined benefit expense $ 78 $ 82 $ 21 $ (182 ) Defined contribution expense $ 14 $ 10 n/a n/a Increase (Decrease) in other comprehensive income related to employee benefits (3) $ (395 ) $ 50 $ (65 ) $ 34 (1) Other plans operated by certain subsidiaries of the Bank are not considered material and are not included in this note. (2) The service cost for other benefit plans includes a decrease of $203 million in the first quarter of fiscal 2018, related to modifications to the Bank’s post-retirement benefits plan. (3) Changes in discount rates and return on plan assets are reviewed and updated on a quarterly basis. In the absence of legislated changes, all other assumptions are updated annually. |
Operating segments
Operating segments | 3 Months Ended |
Jan. 31, 2019 | |
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Operating segments | 16. Operating segments Scotiabank is a diversified financial services institution that provides a wide range of financial products and services to retail, commercial and corporate customers around the world. The Bank’s businesses are grouped into three business lines: Canadian Banking, International Banking and Global Banking and Markets. The results of these business segments are based upon the internal financial reporting systems of the Bank. The accounting policies used in these segments are generally consistent with those followed in the preparation of the consolidated financial statements as disclosed in Note 3 of the Bank’s audited consolidated financial statements in the 2018 Annual Report. Notable accounting measurement differences are: • tax normalization adjustments related to the gross-up • the grossing up of tax-exempt non-interest before-tax non-interest tax-exempt Scotiabank’s results, and average assets and liabilities, allocated by these operating segments, are as follows: For the three months ended January 31, 2019 Taxable equivalent basis ($ millions) Canadian International Global Other (1) Total Net interest income (2) $ 2,036 $ 2,080 $ 372 $ (214 ) $ 4,274 Non-interest (3)(4) 1,379 1,251 703 (3 ) 3,330 Total revenues 3,415 3,331 1,075 (217 ) 7,604 Provision for credit losses 233 470 (16 ) 1 688 Non-interest 1,730 1,742 645 54 4,171 Provision for income taxes 379 226 111 (218 ) 498 Net income $ 1,073 $ 893 $ 335 $ (54 ) $ 2,247 Net income attributable to non-controlling $ – $ 111 $ – $ – $ 111 Net income attributable to equity holders of the Bank $ 1,073 $ 782 $ 335 $ (54 ) $ 2,136 Average assets ($ billions) $ 356 $ 197 $ 364 $ 116 $ 1,033 Average liabilities ($ billions) $ 274 $ 154 $ 297 $ 239 $ 964 (1) Includes all other smaller operating segments and corporate adjustments, such as the elimination of the tax-exempt gross-up non-interest (2) Interest income is reported net of interest expense as management relies primarily on net interest income as a performance measure. (3) Card revenues, Banking services fees, and Investment management and trust fees are mainly earned in Canadian and International Banking. Mutual fund and Brokerage fees are primarily earned in Canadian Banking with the remainder being earned in International Banking. Underwriting and other advisory fees are predominantly earned in Global Banking and Markets. (4) Includes income (on a taxable equivalent basis) from investments in associated corporations for Canadian Banking – $13; International Banking – $161 and Other – $(45). For the three months ended October 31, 2018 Taxable equivalent basis ($ millions) Canadian International Global Other (1) Total Net interest income (2) $ 2,029 $ 2,030 $ 337 $ (176 ) $ 4,220 Non-interest (3) 1,414 1,104 736 (26 ) 3,228 Total revenues 3,443 3,134 1,073 (202 ) 7,448 Provision for credit losses 198 412 (20 ) – 590 Non-interest 1,747 1,721 553 43 4,064 Provision for income taxes 383 197 124 (181 ) 523 Net income $ 1,115 $ 804 $ 416 $ (64 ) $ 2,271 Net income attributable to non-controlling $ – $ 92 $ – $ – $ 92 Net income attributable to equity holders of the Bank $ 1,115 $ 712 $ 416 $ (64 ) $ 2,179 Average assets ($ billions) $ 349 $ 193 $ 318 $ 111 $ 971 Average liabilities ($ billions) $ 263 $ 153 $ 259 $ 229 $ 904 (1) Includes all other smaller operating segments and corporate adjustments, such as the elimination of the tax-exempt gross-up non-interest (2) Interest income is reported net of interest expense as management relies primarily on net interest income as a performance measure. (3) Includes income (on a taxable equivalent basis) from investments in associated corporations for Canadian Banking – $23; International Banking – $201 and Other – $(55). For the three months ended January 31, 2018 Taxable equivalent basis ($ millions) Canadian International Global Other (1) Total Net interest income (2) $ 1,939 $ 1,707 $ 390 $ (100 ) $ 3,936 Non-interest (3) 1,364 997 800 (9 ) 3,152 Total revenues 3,303 2,704 1,190 (109 ) 7,088 Provision for credit losses 210 344 (9 ) (1 ) 544 Non-interest 1,605 1,442 572 (121 ) 3,498 Provision for income taxes 386 193 173 (43 ) 709 Net income $ 1,102 $ 725 $ 454 $ 56 $ 2,337 Net income attributable to non-controlling $ – $ 58 $ – $ – $ 58 Net income attributable to equity holders of the Bank $ 1,102 $ 667 $ 454 $ 56 $ 2,279 Average assets ($ billions) $ 335 $ 153 $ 334 $ 112 $ 934 Average liabilities ($ billions) $ 248 $ 117 $ 274 $ 234 $ 873 (1) Includes all other smaller operating segments and corporate adjustments, such as the elimination of the tax-exempt gross-up non-interest (2) Interest income is reported net of interest expense as management relies primarily on net interest income as a performance measure. (3) Includes income (on a taxable equivalent basis) from investments in associated corporations for Canadian Banking – $15; International Banking – $133 and Other – $(38). |
Interest income and expense
Interest income and expense | 3 Months Ended |
Jan. 31, 2019 | |
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Interest income and expense | 17. Interest income and expense The following table presents details of interest income from financial assets. For the three months ended ($ millions) January 31 October 31 January 31 Loans at amortized cost (1) $ 7,091 $ 6,877 $ 5,803 Securities Amortized cost (1) 95 82 90 FVOCI (1) 353 310 274 Other 68 96 35 Securities purchased under resale agreements and securities borrowed not at FVTPL (1) 130 129 98 Deposits with financial institutions (1) 254 226 181 Interest income $ 7,991 $ 7,720 $ 6,481 (1) The interest income on the financial assets measured at amortized cost and FVOCI is calculated using the effective interest method. The following table presents details of interest expense from financial liabilities. For the three months ended ($ millions) January 31 October 31 January 31 Deposits Amortized cost (1) $ 3,335 $ 3,042 $ 2,246 FVTPL – 21 10 Subordinated debentures (1) 61 55 52 Other Amortized cost (1) 315 371 233 FVTPL 6 11 4 Interest expense $ 3,717 $ 3,500 $ 2,545 (1) The interest expense on the financial liabilities measured at amortized cost is calculated using the effective interest method. |
Trading revenues
Trading revenues | 3 Months Ended |
Jan. 31, 2019 | |
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Trading revenues | 18. The following table presents details of trading revenues. For the three months ended ($ millions) January 31 October 31 January 31 Interest rate and credit $ 7 $ 40 $ 100 Equities 123 131 95 Commodities 68 46 72 Foreign exchange 84 72 83 Other 47 81 37 Total $ 329 $ 370 $ 387 |
Earnings per share
Earnings per share | 3 Months Ended |
Jan. 31, 2019 | |
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Earnings per share | 19. Earnings per share For the three months ended ($ millions) January 31 October 31 January 31 Basic earnings per common share Net income attributable to common shareholders $ 2,107 $ 2,114 $ 2,249 Weighted average number of common shares outstanding (millions) 1,226 1,230 1,199 Basic earnings per common share (1) (in dollars) $ 1.72 $ 1.72 $ 1.88 Diluted earnings per common share Net income attributable to common shareholders $ 2,107 $ 2,114 $ 2,249 Dilutive impact of share-based payment options and others (2) 41 20 13 Net income attributable to common shareholders (diluted) $ 2,148 $ 2,134 $ 2,262 Weighted average number of common shares outstanding (millions) 1,226 1,230 1,199 Dilutive impact of share-based payment options and others (2) (millions) 29 16 16 Weighted average number of diluted common shares outstanding (millions) 1,255 1,246 1,215 Diluted earnings per common share (1) (in dollars) $ 1.71 $ 1.71 $ 1.86 (1) Earnings per share calculations are based on full dollar and share amounts. (2) Certain tandem stock appreciation rights or options as well as acquisition related put/call options that the Bank may settle at its own discretion by issuing common shares were not included in the calculation of diluted earnings per share as they were anti-dilutive. |
Financial instruments
Financial instruments | 3 Months Ended |
Jan. 31, 2019 | |
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Financial instruments | Financial instruments (a) Risk management The Bank’s principal business activities result in a balance sheet that consists primarily of financial instruments. In addition, the Bank uses derivative financial instruments for both trading and hedging purposes. The principal financial risks that arise from transacting financial instruments include credit risk, liquidity risk and market risk. The Bank’s framework to monitor, evaluate and manage these risks is consistent with that in place as at October 31, 2018. (i) Credit risk Credit risk is the risk of loss resulting from the failure of a borrower or counterparty to honour its financial or contractual obligations to the Bank. Credit risk exposures disclosed below are presented based on the Basel framework utilized by the Bank. The Bank uses the Advanced Internal Ratings-Based approach (AIRB) for all material Canadian, U.S. and European portfolios, and for a significant portion of the international corporate and commercial portfolios. The remaining portfolios, including other international portfolios, are treated under the standardized approach. Under the AIRB approach, the Bank uses internal risk parameter estimates, based on historical experience. Under the standardized approach, credit risk is estimated using the risk weights as prescribed by the Basel framework, either based on credit assessments by external rating agencies or based on the counterparty type for non-retail Exposure at default (1) As at January 31, 2019 October 31 ($ millions) AIRB Standardized Total Total By exposure sub-type Non-retail Drawn (2)(3) $ 356,655 $ 65,579 $ 422,234 $ 425,009 Undrawn commitments 89,393 5,139 94,532 92,303 Other exposures (4) 92,862 11,298 104,160 105,232 Total non-retail $ 538,910 $ 82,016 $ 620,926 $ 622,544 Retail Drawn (5) $ 195,020 $ 91,650 $ 286,670 $ 278,605 Undrawn commitments 47,729 – 47,729 48,085 Total retail $ 242,749 $ 91,650 $ 334,399 $ 326,690 Total $ 781,659 $ 173,666 $ 955,325 $ 949,234 (1) After credit risk mitigation and excludes equity securities and other assets. (2) Non-retail (3) Non-retail (4) Includes off-balance over-the-counter (5) Retail drawn includes residential mortgages, credit cards, lines of credit and other personal loans. Credit quality of non-retail The Bank’s non-retail Credit quality of retail exposures The Bank’s retail portfolios consist of a number of relatively small loans to a large number of borrowers. The portfolios are distributed across Canada and a wide range of countries. As such, the portfolios inherently have a high degree of diversification. In addition, as of January 31, 2019, 42% (October 31, 2018 – 43%) of the Canadian residential mortgage portfolio is insured. The average loan-to-value Retail standardized portfolio The retail standardized portfolio of $92 billion as at January 31, 2019 (October 31, 2018 – $87 billion), was comprised of residential mortgages, personal loans, credit cards and lines of credit to individuals, mainly in Latin America and the Caribbean. Of the total retail standardized exposures, $48 billion (October 31, 2018 – $45 billion) was represented by mortgages and loans secured by residential real estate, mostly with a loan-to-value (ii) Liquidity risk Liquidity risk is the risk that the Bank is unable to meet its financial obligations in a timely manner at reasonable prices. The Bank’s liquidity risk is subject to extensive risk management controls and is managed within the framework of policies and limits approved by the Board. The Board receives reports on risk exposures and performance against approved limits. The Asset/Liability Committee (ALCO) provides senior management oversight of liquidity risk. The key elements of the Bank’s liquidity risk management framework include: • liquidity risk measurement and management limits, including limits on maximum net cash outflow by currency over specified short-term horizons; • prudent diversification of its wholesale funding activities by using a number of different funding programs to access the global financial markets and manage its maturity profile, as appropriate; • large holdings of liquid assets to support its operations, which can generally be sold or pledged to meet the Bank’s obligations; • liquidity stress testing, including Bank-specific, global-systemic, and combination systemic/specific scenarios; and • liquidity contingency planning. The Bank’s foreign operations have liquidity management frameworks that are similar to the Bank’s framework. Local deposits are managed from a liquidity risk perspective based on the local management frameworks and regulatory requirements. (iii) Market risk Market risk arises from changes in market prices and rates (including interest rates, credit spreads, equity prices, foreign exchange rates and commodity prices), the correlations among them, and their levels of volatility. Interest rate risk Interest rate risk is the risk of loss due to the following: changes in the level, slope and curvature of the yield curve; the volatility of interest rates; and mortgage prepayment rates. Non-trading Foreign currency risk is the risk of loss due to changes in spot and forward rates. As at January 31, 2019, a one per cent increase (decrease) in the Canadian dollar against all currencies in which the Bank operates decreases (increases) the Bank’s before-tax A similar change in the Canadian dollar as at January 31, 2019, would decrease (increase) the unrealized foreign currency translation gains in the accumulated other comprehensive income section of shareholders’ equity by approximately $391 million (October 31, 2018 – $384 million; January 31, 2018 – $334 million), net of hedging. Non-trading Equity risk is the risk of loss due to adverse movements in equity prices. The Bank is exposed to equity risk through its investment equity portfolios. The fair value of investment equity securities is shown in Note 7. Trading portfolio risk management The table below shows the Bank’s VaR by risk factor along with Stressed VaR: For the three months ended As at As at January 31, 2019 January 31 2019 October 31 2018 January 31 2018 ($ millions) Average High Low Credit spread plus interest rate $ 11.3 $ 15.2 $ 8.2 $ 9.8 $ 11.0 $ 14.4 Credit spread 6.8 9.8 3.8 6.1 6.2 9.0 Interest rate 8.4 12.6 6.4 7.0 7.7 11.5 Equities 4.0 8.1 2.1 4.2 5.8 2.4 Foreign exchange 2.3 3.2 1.5 2.5 2.8 2.7 Commodities 2.0 4.7 1.4 2.5 1.7 1.9 Debt specific 4.4 5.9 3.2 4.3 3.6 2.9 Diversification effect (11.4 ) n/a n/a (12.3 ) (11.7 ) (10.1 ) Total VaR $ 12.6 $ 16.2 $ 10.3 $ 11.0 $ 13.2 $ 14.2 Total Stressed VaR $ 45.3 $ 58.9 $ 31.0 $ 34.7 $ 44.6 $ 55.6 (iv) Operational risk Operational risk is the risk of loss, whether direct or indirect, to which the Bank is exposed due to inadequate or failed internal processes or systems, human error, or external events. Operational risk includes legal and regulatory risk, business process and change risk, fiduciary or disclosure breaches, cyber risks, technology failure, financial crime and environmental risk. It exists in some form in every Bank business and function. Operational risk can not only result in financial loss, but also regulatory sanctions and damage to the Bank’s reputation. The Bank has developed policies, processes and assessment methodologies to ensure that operational risk is appropriately identified and managed with effective controls. (b) Financial instruments designated at fair value through profit or loss In accordance with its risk management strategy, the Bank has elected to designate certain investments and senior note liabilities at fair value through profit or loss to reduce an accounting mismatch between fair value changes in these instruments and fair value changes in related derivatives, and where a hybrid financial liability contains one or more embedded derivatives that are not closely related to the host contract. Changes in fair value of financial liabilities arising from the Bank’s own credit risk are recognized in other comprehensive income, without subsequent reclassification to net income. The cumulative fair value adjustment due to own credit risk is determined at a point in time by comparing the present value of expected future cash flows over the term of these liabilities discounted at the Bank’s effective funding rate, and the present value of expected future cash flows discounted under a benchmark rate. The following table presents the fair value of assets and liabilities designated at fair value through profit or loss and their changes in fair value. Fair value Change in fair value Cumulative change in fair value (1) As at For the three months ended As at ($ millions) January 31 October 31 January 31 October 31 January 31 January 31 October 31 January 31 Assets Investment securities (2) $ 14 $ 12 $ – $ – $ – $ – $ – $ – Liabilities Senior note liabilities (3) $ 9,907 $ 8,188 $ (176 ) $ 684 $ 59 $ 602 $ 778 $ (32 ) (1) The cumulative change in fair value is measured from the instruments’ date of initial recognition. (2) Changes in fair value are recorded in non-interest (3) Changes in fair value attributable to changes in the Bank’s own credit risk are recorded in other comprehensive income. Other changes in fair value are recorded in non-interest The following table presents the changes in fair value attributable to changes in the Bank’s own credit risk for financial liabilities designated at fair value through profit or loss as well as their contractual maturity and carrying amounts. Senior Note Liabilities ($ millions) Contractual (1) Carrying value Difference Changes in fair value Cumulative changes (1) As at January 31, 2019 $ 10,509 $ 9,907 $ 602 $ 30 $ (36 ) As at October 31, 2018 8,966 8,188 778 (46 ) (66 ) As at January 31, 2018 5,013 5,045 (32 ) (7 ) (43 ) (1) The cumulative change in fair value is measured from the instruments’ date of initial recognition. (c) Financial instruments – fair value Fair value of financial instruments The calculation of fair value is based on market conditions at a specific point in time and therefore may not be reflective of future fair values. The Bank has controls and processes in place to ensure that the valuation of financial instruments is appropriately determined. Refer to Note 7 of the Bank’s consolidated financial statements in the 2018 Annual Report for the valuation techniques used to fair value its significant financial assets and liabilities. The following table sets out the fair values of financial instruments of the Bank and excludes non-financial As at January 31, 2019 October 31, 2018 ($ millions) Total fair Total Total fair Total Assets: Cash and deposits with financial institutions $ 52,942 $ 52,942 $ 62,269 $ 62,269 Trading assets 106,956 106,956 100,262 100,262 Financial instruments designated at fair value through profit or loss 14 14 12 12 Securities purchased under resale agreements and securities borrowed 127,959 127,959 104,018 104,018 Derivative financial instruments 32,161 32,161 37,558 37,558 Investment securities – other 57,335 57,335 57,653 57,653 Investment securities – amortized cost 20,459 20,651 20,316 20,743 Loans 568,656 566,105 553,758 551,834 Customers’ liability under acceptances 18,737 18,737 16,329 16,329 Other financial assets 13,079 13,079 10,913 10,913 Liabilities: Deposits 690,101 690,879 674,535 676,534 Financial instruments designated at fair value through profit or loss 9,907 9,907 8,188 8,188 Acceptances 18,746 18,746 16,338 16,338 Obligations related to securities sold short 31,621 31,621 32,087 32,087 Derivative financial instruments 35,970 35,970 37,967 37,967 Obligations related to securities sold under repurchase agreements and securities lent 116,527 116,527 101,257 101,257 Subordinated debentures 7,593 7,492 5,267 5,698 Other financial liabilities 36,446 36,231 35,432 34,805 (d) Fair value hierarchy The best evidence of fair value for a financial instrument is the quoted price in an active market. Unadjusted quoted market prices for identical instruments represent a Level 1 valuation. Where possible, valuations are based on quoted prices or observable inputs obtained from active markets. Quoted prices are not always available for over-the-counter Where financial instruments trade in inactive markets or when using models where observable parameters do not exist, greater management judgment is required for valuation purposes. Valuations that require the significant use of unobservable inputs are considered as Level 3. The following table outlines the fair value hierarchy and instruments carried at fair value on a recurring basis. As at As at January 31, 2019 As at October 31, 2018 ($ millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Instruments carried at fair value on a recurring basis: Assets: Precious metals (1) $ – $ 3,608 $ 14 $ 3,622 $ – $ 3,175 $ 16 $ 3,191 Trading assets Loans – 13,161 – 13,161 – 14,334 – 14,334 Canadian federal government and government guaranteed debt 12,497 1,843 – 14,340 13,003 – – 13,003 Canadian provincial and municipal debt – 10,043 – 10,043 – 10,159 – 10,159 US treasury and other US agencies’ debt 9,070 – – 9,070 7,164 – – 7,164 Other foreign governments’ debt 3,068 2,161 – 5,229 4,610 1,833 – 6,443 Corporate and other debt 8 9,548 18 9,574 3 8,984 18 9,005 Income funds 31 – – 31 29 – – 29 Equity securities 44,499 261 – 44,760 39,513 158 – 39,671 Other (2) 748 – – 748 454 – – 454 $ 69,921 $ 40,625 $ 32 $ 110,578 $ 64,776 $ 38,643 $ 34 $ 103,453 Financial assets designated at fair value through profit or loss $ 14 $ – $ – $ 14 $ 12 $ – $ – $ 12 Investment securities (3) Canadian federal government and government guaranteed debt 5,186 2,646 – 7,832 6,373 2,518 – 8,891 Canadian provincial and municipal debt 237 3,291 – 3,528 366 3,986 – 4,352 US treasury and other US agencies’ debt 20,218 473 – 20,691 18,472 669 – 19,141 Other foreign governments’ debt 9,827 9,830 31 19,688 10,457 9,485 48 19,990 Corporate and other debt 230 1,944 17 2,191 732 1,818 13 2,563 Mortgage-backed securities – 1,600 – 1,600 – 906 – 906 Equity securities 833 271 701 1,805 838 263 709 1,810 $ 36,531 $ 20,055 $ 749 $ 57,335 $ 37,238 $ 19,645 $ 770 $ 57,653 Derivative financial instruments Interest rate contracts $ – $ 9,934 $ 46 $ 9,980 $ – $ 8,927 $ 112 $ 9,039 Foreign exchange and gold contracts – 18,771 – 18,771 5 22,197 – 22,202 Equity contracts 578 221 2 801 797 1,556 8 2,361 Credit contracts – 307 – 307 – 349 – 349 Commodity contracts 68 2,234 – 2,302 92 3,515 – 3,607 $ 646 $ 31,467 $ 48 $ 32,161 $ 894 $ 36,544 $ 120 $ 37,558 Liabilities: Deposits (4) $ – $ (205 ) $ – $ (205 ) $ – $ (401 ) $ – $ (401 ) Financial liabilities designated at fair value through profit or loss – 9,907 – 9,907 – 8,188 – 8,188 Obligations related to securities sold short 26,434 5,187 – 31,621 24,563 7,524 – 32,087 Derivative financial instruments Interest rate contracts – 10,761 32 10,793 – 11,012 74 11,086 Foreign exchange and gold contracts 3 18,186 – 18,189 – 20,537 – 20,537 Equity contracts 967 2,712 7 3,686 1,057 1,884 5 2,946 Credit contracts – 58 – 58 – 70 – 70 Commodity contracts 26 3,218 – 3,244 34 3,294 – 3,328 $ 996 $ 34,935 $ 39 $ 35,970 $ 1,091 $ 36,797 $ 79 $ 37,967 (1) The fair value of precious metals is determined based on quoted market prices and forward spot prices, where applicable. (2) Represents energy related assets. (3) Excludes debt investment securities measured at amortized cost of $20,651 (October 31, 2018 – $20,743). (4) These amounts represent embedded derivatives bifurcated from structured notes. Level 3 instrument fair value changes Financial instruments categorized as Level 3 as at January 31, 2019, in the fair value hierarchy comprise certain precious metals, certain foreign government bonds, structured corporate bonds, investments in private equity securities and complex derivatives. The following table summarizes the changes in Level 3 instruments carried at fair value for the three months ended January 31, 2019. All positive balances represent assets and negative balances represent liabilities. Consequently, positive amounts indicate purchases of assets or settlements of liabilities and negative amounts indicate sales of assets or issuances of liabilities. As at January 31, 2019 ($ millions) Fair value, Gains/ Gains/ Purchases/ Sales/ Transfers Fair value, end Changes in (1) Precious metals $ 16 $ – $ – $ – $ (2 ) $ – $ 14 $ – 16 – – – (2 ) – 14 – Trading assets Corporate and other debt 18 – – – – – 18 – 18 – – – – – 18 – Investment securities Other foreign governments’ debt 48 – (1 ) – (9 ) (7 ) 31 n/a Corporate and other debt 13 – 4 – – – 17 n/a Equity securities 709 12 8 85 (90 ) (23 ) 701 12 770 12 11 85 (99 ) (30 ) 749 12 Derivative financial instruments – assets Interest rate contracts 112 (54 ) – 4 (16 ) – 46 (54 ) Equity contracts 8 (4 ) – – – (2 ) 2 (4 ) (2) Derivative financial instruments – liabilities Interest rate contracts (74 ) 31 – (3 ) 14 – (32 ) 31 (3) Equity contracts (5 ) – – – – (2 ) (7 ) – (2) 41 (27 ) – 1 (2 ) (4 ) 9 (27 ) Total $ 845 $ (15 ) $ 11 $ 86 $ (103 ) $ (34 ) $ 790 $ (15 ) (1) These amounts represent the gains and losses from fair value changes of Level 3 instruments still held at the end of the period that are recorded in the Consolidated Statement of Income. (2) Certain unrealized gains and losses on derivative assets and liabilities are largely offset by mark-to-market (3) Certain unrealized losses on interest rate derivative contracts are largely offset by mark-to-market The following table summarizes the changes in Level 3 instruments carried at fair value for the three months ended October 31, 2018: As at October 31, 2018 ($ millions) Fair value, Gains/ (1) Gains/ Purchases/ Sales/ Transfers Fair Precious metals $ 11 $ – $ – $ 5 $ – $ – $ 16 Trading assets 20 – – – (2 ) – 18 Investment securities 750 9 – 70 (39 ) (20 ) 770 Derivative financial instruments 28 2 – – – 11 41 (1) Gains or losses for items in Level 3 may be offset with losses or gains on related hedges in Level 1 or Level 2. Significant transfers Significant transfers can occur between the fair value hierarchy levels when additional or new information regarding valuation inputs and their refinement and observability become available. The Bank recognizes transfers between levels of the fair value hierarchy as of the end of the reporting period during which the change has occurred. There were no significant transfers into and out of Level 3 during the three months ended January 31, 2019 and October 31, 2018. Level 3 sensitivity The Bank applies judgment in determining unobservable inputs used to calculate the fair value of Level 3 instruments. Refer to Note 7 of the Bank’s audited consolidated financial statements for the year ended October 31, 2018 for a description of the significant unobservable inputs for Level 3 instruments and the potential effect that a change in each unobservable input may have on the fair value measurement. There have been no significant changes to the Level 3 sensitivities during the quarter. |
Corporate income taxes
Corporate income taxes | 3 Months Ended |
Jan. 31, 2019 | |
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Corporate income taxes | 21. Corporate income taxes In November 2016, the Bank received a federal reassessment of $179 million for tax and interest as a result of the Canada Revenue Agency denying the tax deductibility of certain Canadian dividends received during the 2011 taxation year. In August 2017, the Bank received a reassessment of $185 million for tax and interest for the 2012 taxation year. The circumstances of the dividends subject to the reassessments are similar to those prospectively addressed by recently enacted rules which had been introduced in the 2015 Canadian federal budget. In June 2018, the Bank received a reassessment for $211 million for tax and interest in respect of the same circumstances for the 2013 taxation year. The Bank is confident that its tax filing position was appropriate and in accordance with the relevant provisions of the Income Tax Act (Canada), and intends to vigorously defend its position. |
Acquisitions and divestitures
Acquisitions and divestitures | 3 Months Ended |
Jan. 31, 2019 | |
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Acquisitions and divestitures | Acquisitions and divestitures Acquisitions Citibank’s consumer and small and medium enterprise operations, Colombia On June 30, 2018, the Bank’s Colombian subsidiary, Scotiabank Colpatria S.A., completed the acquisition of Citibank’s consumer (retail and credit cards) and small and medium enterprise operations in Colombia. The acquired business forms part of the Bank’s International Banking business segment. On acquisition, approximately $2.0 billion of assets (mainly loans) and $1.4 billion of liabilities (mainly deposits) were recorded. Subsequent adjustments during the measurement period will occur as the Bank completes its estimation of fair values of assets acquired and liabilities assumed. BBVA, Chile On July 6, 2018, the Bank acquired 68.2% of Banco Bilbao Vizcaya Argentaria, Chile, 100% of BBVA Seguros Vida S.A., 100% of Servicios Corporativos S.A., 68.1% of Inmobiliaria e Inversiones S.A. and 4.1% of Inversiones DCV S.A. (together “BBVA Chile”) in Chile for cash consideration of US$ 2.2 billion. The Bank consolidated 100% of BBVA Chile’s assets and liabilities and recorded a non-controlling On September 1, 2018, BBVA Chile merged with Scotiabank Chile. The non-controlling shareholders in BBVA Chile paid the Bank US$ 0.4 billion to increase their pro forma ownership of the merged entity. Subsequent to these transactions, the Bank retained control over the combined entity with 75.5% of the total shares. Under this agreement, the non-controlling non-controlling The fair value of the identifiable net assets of BBVA at the date of acquisition were: ($ millions) Total identifiable net assets at fair value (1) $ 2,272 Intangible assets Finite life intangible assets 143 Deferred tax liability (90 ) Goodwill arising on acquisition 1,281 Non-controlling interest (677 ) Purchase consideration transferred $ 2,929 (1) Includes loans of $20,469 and deposits of $13,444. MD Financial Management, Canada On October 3, 2018, the Bank completed the acquisition of MD Financial Management (“MD Financial”) from the Canadian Medical Association for approximately $2.7 billion, paid in cash. The acquired business forms part of the Canadian Banking business segment . The Bank, during the quarter, completed its estimation of fair values of assets acquired and liabilities assumed. The fair value of the identifiable net assets of MD Financial at the date of acquisition were: ($ millions) Total identifiable net assets at fair value $ 97 Intangible assets Finite life intangible assets (1) 70 Indefinite life intangible assets (2) 1,880 Deferred tax liability (501 ) Goodwill arising on acquisition 1,154 Purchase consideration transferred $ 2,700 (1) Comprised of customer relationship intangible. (2) Comprised of fund management contract of $1.8 billion and acquired trademark of $80 million. Goodwill largely reflects the value of synergies expected by combining certain operations within the Bank’s asset management businesses as well as MD Financial’s strong market presence and future growth prospects. Acquisitions and divestitures announced but not closed Acquisitions Banco Cencosud, Peru and Banco Dominicano del Progreso, Dominican Republic The previously disclosed acquisitions of Banco Cencosud, Peru and Banco Dominicano del Progreso, Dominican Republic remain subject to regulatory approvals and closing conditions. These acquisitions are expected to close in the second quarter of 2019. The transactions are not considered financially material to the Bank. Divestitures Insurance and banking operations in the Caribbean On November 27, 2018, the Bank announced its subsidiaries in Jamaica and Trinidad & Tobago will sell their insurance operations. The Bank will partner with the buyer to provide an expanded suite of insurance products and services to customers in Jamaica and Trinidad & Tobago. On November 27, 2018, the Bank also announced it has entered into an agreement with another party to sell its banking operations in nine non-core Scotia Crecer AFP and Scotia Seguros – pension and insurance in the Dominican Republic On December 20, 2018, the Bank announced that it reached an agreement for the sale of Scotia Crecer AFP and Scotia Seguros, its pension and related insurance businesses in the Dominican Republic, subject to regulatory approvals and closing conditions. These announced divestitures are subject to shareholder approvals, regulatory approvals and closing conditions. Combined, the Bank expects to record a gain on sale of approximately $400 million after tax for these divestitures and the Bank’s Common Equity Tier 1 (CET1) capital ratio will increase by approximately 20 basis points. |
Events after the Consolidated S
Events after the Consolidated Statement of Financial Position date | 3 Months Ended |
Jan. 31, 2019 | |
Text block [abstract] | |
Events after the Consolidated Statement of Financial Position date | Events after the Consolidated Statement of Financial Position date Insurance and banking operations in El Salvador On February 8, 2019, the Bank announced that it has reached an agreement under which the Bank will sell its banking and insurance operations in El Salvador, including Scotiabank El Salvador, its subsidiaries and Scotia Seguros, subject to regulatory approval and closing conditions. This transaction is expected to result in a loss of approximately $170 million after tax that primarily represents the carrying value of goodwill relating to this business. Upon closing, the Bank’s CET1 capital ratio will increase by approximately six basis points. Thanachart Bank, Thailand On February 26, 2019, the Bank announced that it has entered into a non-binding memorandum of understanding (MOU) with a number of parties that would result, if concluded, in the Bank divesting its 49% investment in Thanachart Bank Public Company Limited, Thailand. The transactions contemplated under the MOU would result in the Bank holding a significantly smaller stake in a combined bank and receiving proceeds which are expected to result in a gain on sale and be accretive to the Bank’s CET1 capital ratio. All transactions contemplated by the MOU remain subject to due diligence, negotiation and agreement by the parties as to definitive documentation (including terms), as well as regulatory approval. No assurance can be given that the parties will reach a definitive agreement or that the transactions will be concluded. |
Cash and deposits with financ_2
Cash and deposits with financial institutions (Tables) | 3 Months Ended |
Jan. 31, 2019 | |
Text block [abstract] | |
Summary of Cash and Deposits with Financial Institutions | As at ($ millions) January 31 October 31 Cash and non-interest-bearing $ 9,799 $ 8,997 Interest-bearing deposits with financial institutions 43,143 53,272 Total $ 52,942 (1) $ 62,269 (1) (1) Net of impairment allowances of $5 (October 31, 2018 – $3). |
Investment securities (Tables)
Investment securities (Tables) | 3 Months Ended |
Jan. 31, 2019 | |
Text block [abstract] | |
Disclosure of Carrying Value Of Banks Investment Securities Per Measurement Category | The following table presents the carrying amounts of the Bank’s investment securities per measurement category. As at ($ millions) January 31 October 31 Debt investment securities measured at FVOCI $ 55,530 $ 55,843 Debt investment securities measured at amortized cost 20,651 20,743 Equity investment securities designated at FVOCI 1,253 1,305 Equity investment securities measured at FVTPL 552 505 Total investment securities $ 77,986 $ 78,396 |
Disclosure of Unrealized Gains and Losses on Fair Value through Other Comprehensive Income Securities | As at January 31, 2019 ($ millions) Cost Gross Gross Fair Canadian federal government issued or guaranteed debt $ 7,733 $ 109 $ 10 $ 7,832 Canadian provincial and municipal debt 3,546 7 25 3,528 U.S. treasury and other U.S. agency debt 20,609 146 64 20,691 Other foreign government debt 19,684 54 50 19,688 Other debt 3,800 14 23 3,791 Total debt investment securities measured at FVOCI $ 55,372 $ 330 $ 172 $ 55,530 As at October 31, 2018 ($ millions) Cost Gross Gross Fair value Canadian federal government issued or guaranteed debt $ 8,903 $ 38 $ 50 $ 8,891 Canadian provincial and municipal debt 4,403 3 54 4,352 U.S. treasury and other U.S. agency debt 19,298 6 163 19,141 Other foreign government debt 20,022 49 81 19,990 Other debt 3,503 6 40 3,469 Total debt investment securities measured at FVOCI $ 56,129 $ 102 $ 388 $ 55,843 |
Summary of Analysis of Fair Value and Carrying Value of Investment Securities Measured at Amortized Cost | As at January 31, 2019 October 31, 2018 ($ millions) Fair value Carrying value (1) Fair value Carrying value (1) Canadian federal and provincial government issued or guaranteed debt $ 5,927 $ 6,011 $ 6,530 $ 6,681 U.S. treasury and other U.S. agency debt 4,165 4,256 4,321 4,462 Other foreign government debt 2,893 2,915 3,086 3,131 Corporate debt 7,474 7,469 6,379 6,469 Total debt investment securities measured at amortized cost $ 20,459 $ 20,651 $ 20,316 $ 20,743 (1) Balances are net of impairment allowances of nil (October 31, 2018 – $1). |
Summary of Equity Investment Securities Designated as at Fair Value Through Other Comprehensive Income | The Bank has designated certain instruments, shown in the following table, as equity securities FVOCI, as these investments are expected to be held for the long-term for strategic purposes. As at January 31, 2019 ($ millions) Cost Gross Gross Fair Preferred equity instruments $ 267 $ – $ 85 $ 182 Common shares 941 146 16 1,071 Total equity investment securities designated at FVOCI $ 1,208 $ 146 $ 101 $ 1,253 As at October 31, 2018 ($ millions) Cost Gross Gross Fair Preferred equity instruments $ 334 $ – $ 54 $ 280 Common shares 937 126 38 1,025 Total equity investment securities designated at FVOCI $ 1,271 $ 126 $ 92 $ 1,305 |
Loans, impaired loans and all_2
Loans, impaired loans and allowance for credit losses (Tables) | 3 Months Ended |
Jan. 31, 2019 | |
Text block [abstract] | |
Disclosure of Loans at Amortized Cost | (a) Loans at amortized cost As at January 31, 2019 October 31, 2018 ($ millions) Gross Allowance Net Gross Allowance Net Residential mortgages $ 258,649 $ 709 $ 257,940 $ 253,357 $ 678 $ 252,679 Personal loans 96,650 2,111 94,539 96,019 2,109 93,910 Credit cards 17,124 1,212 15,912 16,485 1,213 15,272 Business and government 198,793 1,079 197,714 191,038 1,065 189,973 Total $ 571,216 $ 5,111 $ 566,105 $ 556,899 $ 5,065 $ 551,834 |
Schedule of Impaired Loans | (b) Impaired loans (1)(2) As at January 31, 2019 October 31, 2018 ($ millions) Gross Allowance for Net Gross Allowance for Net Residential mortgages $ 1,868 $ 362 $ 1,506 $ 1,797 $ 360 $ 1,437 Personal loans 1,108 640 468 1,069 644 425 Credit cards – – – – – – Business and government 2,311 678 1,633 2,264 673 1,591 Total $ 5,287 $ 1,680 $ 3,607 $ 5,130 $ 1,677 $ 3,453 By geography: Canada $ 1,058 $ 367 $ 691 $ 999 $ 381 $ 618 United States 108 24 84 80 25 55 Mexico 413 172 241 359 164 195 Peru 615 338 277 581 317 264 Chile 793 158 635 753 158 595 Colombia 607 162 445 619 159 460 Other international 1,693 459 1,234 1,739 473 1,266 Total $ 5,287 $ 1,680 $ 3,607 $ 5,130 $ 1,677 $ 3,453 (1) Interest income recognized on impaired loans during the three months ended January 31, 2019 was $14 (October 31, 2018 – $12). (2) Additional interest income of approximately $94 would have been recorded if the above loans had not been classified as impaired (October 31, 2018 – $93). |
Schedule of Allowance for Credit Losses | ($ millions) Balance as at Provision for Net write-offs Other, including Balance as at Residential mortgages $ 678 $ 32 $ (18 ) $ 17 $ 709 Personal loans 2,109 366 (408 ) 44 2,111 Credit cards 1,213 225 (257 ) 31 1,212 Business and government 1,147 62 (49 ) (3 ) 1,157 $ 5,147 $ 685 $ (732 ) $ 89 $ 5,189 Presented as: Allowance for credit losses on loans $ 5,065 $ 5,111 Allowance for credit losses on acceptances 8 9 Allowance for credit losses on off-balance 74 69 As at January 31, 2019 ($ millions) Stage 1 Stage 2 Stage 3 Total Residential mortgages $ 121 $ 226 $ 362 $ 709 Personal loans 596 875 640 2,111 Credit cards 410 802 – 1,212 Business and government 152 249 678 1,079 Total (1) $ 1,279 $ 2,152 $ 1,680 $ 5,111 (1) Excludes, allowance for credit losses for other financial assets including acceptances, investment securities, deposits with banks and off-balance As at October 31, 2018 ($ millions) Stage 1 Stage 2 Stage 3 Total Residential mortgages $ 112 $ 206 $ 360 $ 678 Personal loans 578 887 644 2,109 Credit cards 401 812 – 1,213 Business and government 132 260 673 1,065 Total (1) $ 1,223 $ 2,165 $ 1,677 $ 5,065 (1) Excludes, allowance for credit losses for other financial assets including acceptances, investment securities, deposits with banks and off-balance The following table presents the changes to the allowance for credit losses on loans. As at January 31, 2019 As at January 31, 2018 ($ millions) Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Residential mortgages Balance at beginning of period $ 112 $ 206 $ 360 $ 678 $ 103 $ 214 $ 400 $ 717 Provision for credit losses Remeasurement (1) (24 ) 8 29 13 (22 ) 2 33 13 Newly originated or purchased financial assets 23 – – 23 8 – – 8 Derecognition of financial assets and maturities (1 ) (3 ) – (4 ) – (1 ) – (1 ) Changes in models and methodologies – – – – – – – – Transfer to (from): Stage 1 12 (11 ) (1 ) – 26 (23 ) (3 ) – Stage 2 (5 ) 28 (23 ) – (8 ) 24 (16 ) – Stage 3 – (9 ) 9 – – (10 ) 10 – Gross write-offs – – (20 ) (20 ) – – (26 ) (26 ) Recoveries – – 2 2 – – 8 8 Foreign exchange and other movements 4 7 6 17 (2 ) (7 ) (12 ) (21 ) Balance at end of period (2) $ 121 $ 226 $ 362 $ 709 $ 105 $ 199 $ 394 $ 698 Personal loans Balance at beginning of period $ 578 $ 887 $ 644 $ 2,109 $ 477 $ 802 $ 600 $ 1,879 Provision for credit losses Remeasurement (1) (152 ) 140 304 292 (110 ) 145 239 274 Newly originated or purchased financial assets 118 – – 118 90 – – 90 Derecognition of financial assets and maturities (19 ) (25 ) – (44 ) (22 ) (26 ) – (48 ) Changes in models and methodologies – – – – – – – – Transfer to (from): Stage 1 108 (107 ) (1 ) – 117 (114 ) (3 ) – Stage 2 (46 ) 66 (20 ) – (54 ) 79 (25 ) – Stage 3 (1 ) (79 ) 80 – (1 ) (70 ) 71 – Gross write-offs – – (480 ) (480 ) – – (344 ) (344 ) Recoveries – – 72 72 – – 64 64 Foreign exchange and other movements 10 (7 ) 41 44 (4 ) (4 ) (4 ) (12 ) Balance at end of period (2) $ 596 $ 875 $ 640 $ 2,111 $ 493 $ 812 $ 598 $ 1,903 Credit cards Balance at beginning of period $ 401 $ 812 $ – $ 1,213 $ 364 $ 799 $ – $ 1,163 Provision for credit losses Remeasurement (1) (68 ) 108 170 210 (52 ) 91 152 191 Newly originated or purchased financial assets 46 – – 46 95 – – 95 Derecognition of financial assets and maturities (14 ) (17 ) – (31 ) (51 ) (51 ) – (102 ) Changes in models and methodologies – – – – – – – – Transfer to (from): Stage 1 69 (69 ) – – 61 (61 ) – – Stage 2 (32 ) 32 – – (55 ) 55 – – Stage 3 – (70 ) 70 – (1 ) (53 ) 54 – Gross write-offs – – (312 ) (312 ) – – (260 ) (260 ) Recoveries – – 55 55 – – 56 56 Foreign exchange and other movements 8 6 17 31 (5 ) 5 (2 ) (2 ) Balance at end of period (2) $ 410 $ 802 $ – $ 1,212 $ 356 $ 785 $ – $ 1,141 Business and government Balance at beginning of period $ 173 $ 291 $ 675 $ 1,139 $ 178 $ 307 $ 760 $ 1,245 Provision for credit losses Remeasurement (1) (16 ) 12 69 65 (30 ) 20 54 44 Newly originated or purchased financial assets 39 – – 39 56 – – 56 Derecognition of financial assets and maturities (27 ) (8 ) (7 ) (42 ) (29 ) (36 ) (7 ) (72 ) Changes in models and methodologies – – – – – – – – Transfer to (from): Stage 1 30 (30 ) – – 26 (26 ) – – Stage 2 (5 ) 7 (2 ) – (37 ) 37 – – Stage 3 – (2 ) 2 – (1 ) (4 ) 5 – Gross write-offs – – (65 ) (65 ) – – (118 ) (118 ) Recoveries – – 16 16 – – 18 18 Foreign exchange and other movements 3 2 (9 ) (4 ) (4 ) (9 ) (10 ) (23 ) Balance at end of period including off-balance (2) $ 197 $ 272 $ 679 $ 1,148 $ 159 $ 289 $ 702 $ 1,150 Less: Allowance for credits losses on off-balance (3) (45 ) (23 ) (1 ) (69 ) (40 ) (31 ) (4 ) (75 ) Balance at end of period (2) $ 152 $ 249 $ 678 $ 1,079 $ 119 $ 258 $ 698 $ 1,075 (1) Includes credit risk changes as a result of significant increases in credit risk, changes in credit risk that did not result in a transfer between stages, changes in model inputs and assumptions and changes due to drawdowns of undrawn commitments. (2) Interest income on impaired loans for residential mortgages, personal and credit cards, and business and government loans totaled $94 (October 31, 2018 – $93). (3) Allowance for credit losses on off-balance (4) Allowance for credit losses on acceptances are recorded against the financial asset in the Consolidated Statement of Financial Position. (5) There are no accumulated credit losses on purchased or originated credit impaired loans. |
Summary of Carrying Value of Exposures by Risk Rating | (d) Carrying value of exposures by risk rating Residential mortgages As at January 31, 2019 As at October 31, 2018 Category of PD grades ($ millions) Stage 1 Stage 2 Stage 3 (2) Total Stage 1 Stage 2 Stage 3 (2) Total Very low $ 147,899 $ 420 $ – $ 148,319 $ 146,461 $ 307 $ – $ 146,768 Low 58,299 513 – 58,812 58,154 378 – 58,532 Medium 13,008 1,046 – 14,054 11,689 972 – 12,661 High 1,556 3,443 – 4,999 1,615 3,515 – 5,130 Very high 14 1,955 – 1,969 25 1,779 – 1,804 Loans not graded (1) 24,863 3,765 – 28,628 23,139 3,526 – 26,665 Default – – 1,868 1,868 – – 1,797 1,797 Total $ 245,639 $ 11,142 $ 1,868 $ 258,649 $ 241,083 $ 10,477 $ 1,797 $ 253,357 Allowance for credit losses 121 226 362 709 112 206 360 678 Carrying value $ 245,518 $ 10,916 $ 1,506 $ 257,940 $ 240,971 $ 10,271 $ 1,437 $ 252,679 (1) Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category. (2) Stage 3 includes purchased or originated credit impaired loans. Personal loans As at January 31, 2019 As at October 31, 2018 Category of PD grades ($ millions) Stage 1 Stage 2 Stage 3 (2) Total Stage 1 Stage 2 Stage 3 (2) Total Very low $ 30,351 $ 68 $ – $ 30,419 $ 30,660 $ 66 $ – $ 30,726 Low 25,941 175 – 26,116 26,039 151 – 26,190 Medium 8,614 407 – 9,021 8,315 402 – 8,717 High 6,909 3,548 – 10,457 6,686 3,647 – 10,333 Very high 63 1,499 – 1,562 58 1,362 – 1,420 Loans not graded (1) 15,694 2,273 – 17,967 15,452 2,112 – 17,564 Default – – 1,108 1,108 – – 1,069 1,069 Total $ 87,572 $ 7,970 $ 1,108 $ 96,650 $ 87,210 $ 7,740 $ 1,069 $ 96,019 Allowance for credit losses 596 875 640 2,111 578 887 644 2,109 Carrying value $ 86,976 $ 7,095 $ 468 $ 94,539 $ 86,632 $ 6,853 $ 425 $ 93,910 (1) Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category. (2) Stage 3 includes purchased or originated credit impaired loans. Credit cards As at January 31, 2019 As at October 31, 2018 Category of PD grades ($ millions) Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Very low $ 1,468 $ 5 $ – $ 1,473 $ 1,418 $ 5 $ – $ 1,423 Low 2,544 18 – 2,562 2,436 14 – 2,450 Medium 3,550 46 – 3,596 3,358 71 – 3,429 High 3,176 1,457 – 4,633 2,929 1,455 – 4,384 Very high 37 722 – 759 37 697 – 734 Loans not graded (1) 2,884 1,217 – 4,101 2,906 1,159 – 4,065 Default – – – – – – – – Total $ 13,659 $ 3,465 $ – $ 17,124 $ 13,084 $ 3,401 $ – $ 16,485 Allowance for credit losses 410 802 – 1,212 401 812 – 1,213 Carrying value $ 13,249 $ 2,663 $ – $ 15,912 $ 12,683 $ 2,589 $ – $ 15,272 (1) Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category. Undrawn loan commitments – Retail As at January 31, 2019 As at October 31, 2018 Category of PD grades ($ millions) Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Very low $ 73,395 $ – $ – $ 73,395 $ 72,321 $ – $ – $ 72,321 Low 16,853 2 – 16,855 16,531 2 – 16,533 Medium 6,403 83 – 6,486 6,029 79 – 6,108 High 2,815 710 – 3,525 2,631 670 – 3,301 Very high 25 371 – 396 26 367 – 393 Loans not graded (1) 13,070 2,709 – 15,779 14,774 3,364 – 18,138 Default – – – – – – – – Carrying value $ 112,561 $ 3,875 $ – $ 116,436 $ 112,312 $ 4,482 $ – $ 116,794 (1) Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category. Business and government loans As at January 31, 2019 As at October 31, 2018 Grade ($ millions) Stage 1 Stage 2 Stage 3 (2) Total Stage 1 Stage 2 Stage 3 (2) Total Investment grade $ 92,881 $ 4,493 $ – $ 97,374 $ 87,047 $ 3,770 $ – $ 90,817 Non-investment 85,043 9,631 – 94,674 83,730 9,706 – 93,436 Watch list 170 2,512 – 2,682 130 2,689 – 2,819 Loans not graded (1) 1,522 230 – 1,752 1,050 652 – 1,702 Default – – 2,311 2,311 – – 2,264 2,264 Total $ 179,616 $ 16,866 $ 2,311 $ 198,793 $ 171,957 $ 16,817 $ 2,264 $ 191,038 Allowance for credit losses 152 249 678 1,079 132 260 673 1,065 Carrying value $ 179,464 $ 16,617 $ 1,633 $ 197,714 $ 171,825 $ 16,557 $ 1,591 $ 189,973 (1) Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category. (2) Stage 3 includes purchased or originated credit impaired loans. Undrawn loan commitments – Business and As at January 31, 2019 As at October 31, 2018 Grade ($ millions) Stage 1 Stage 2 Stage 3 (2) Total Stage 1 Stage 2 Stage 3 (2) Total Investment grade $ 162,223 $ 5,092 $ – $ 167,315 $ 159,880 $ 1,663 $ – $ 161,543 Non-investment 60,588 3,793 – 64,381 56,001 3,445 – 59,446 Watch list 3 1,071 – 1,074 81 977 – 1,058 Loans not graded (1) 2,106 233 – 2,339 2,178 28 – 2,206 Default – – 4 4 – – 4 4 Total $ 224,920 $ 10,189 $ 4 $ 235,113 $ 218,140 $ 6,113 $ 4 $ 224,257 Allowance for credit losses 45 23 1 69 41 31 2 74 Carrying value $ 224,875 $ 10,166 $ 3 $ 235,044 $ 218,099 $ 6,082 $ 2 $ 224,183 (1) Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category. (2) Stage 3 includes purchased or originated credit impaired loans. |
Schedule of Loans Past Due But Not Impaired | (e) Loans past due but not impaired (1) A loan is considered past due when a counterparty has not made a payment by the contractual due date. The following table presents the carrying value of loans that are contractually past due but not classified as impaired because they are either less than 90 days past due or fully secured and collection efforts are reasonably expected to result in repayment, or restoring it to a current status in accordance with the Bank’s policy. As at January 31, 2019 As at October 31, 2018 ($ millions) 31-60 61-90 91 days (2) Total 31-60 61-90 91 days (2) Total Residential mortgages $ 1,256 $ 592 $ – $ 1,848 $ 1,290 $ 521 $ – $ 1,811 Personal loans 614 367 – 981 609 322 – 931 Credit cards 230 161 380 771 231 154 353 738 Business and government 220 69 – 289 167 40 – 207 Total $ 2,320 $ 1,189 $ 380 $ 3,889 $ 2,297 $ 1,037 $ 353 $ 3,687 (1) Loans past due 30 days or less are not presented in this analysis as they are not administratively considered past due. (2) All loans that are over 90 days past due are considered impaired with the exception of credit card receivables which are considered impaired when 180 days past due. |
Summary of Purchased Credit Impaired Loans | The following table provides details of such assets: As at ($ millions) January 31 October 31 Unpaid principal balance (1) $ 533 $ 548 Credit related fair value adjustments (156 ) (168 ) Carrying value 377 380 Stage 3 allowance – – Carrying value net related allowance $ 377 $ 380 (1) Represents principal amount owed net of write-offs. |
Derecognition of financial as_2
Derecognition of financial assets (Tables) | 3 Months Ended |
Jan. 31, 2019 | |
Text block [abstract] | |
Summary of Carrying Amount of Transferred Assets Do Not Qualify for Derecognition and Associated Liabilities | The following table provides the carrying amount of transferred assets that do not qualify for derecognition and the associated liabilities: As at ($ millions) January 31 (1) October 31 (1) Assets Carrying value of residential mortgage loans $ 20,439 $ 20,498 Other related assets (2) 2,963 2,679 Liabilities Carrying value of associated liabilities 21,173 21,459 (1) The fair value of the transferred assets is $23,755 (October 31, 2018 – $23,237) and the fair value of the associated liabilities is $22,560 (October 31, 2018 – $22,468) for a net position of $1,195 (October 31, 2018 – $769). (2) These include cash held in trust and trust permitted investment assets acquired as part of the principal reinvestment account that the Bank is required to maintain in order to participate in the programs. The following table provides the carrying amount of the transferred assets and the associated liabilities: As at ($ millions) January 31 (1) October 31 (1) Carrying value of securities associated with: Repurchase agreements (2) $ 91,557 $ 82,816 Securities lending agreements 56,450 49,718 Total 148,007 132,534 Carrying value of associated liabilities (3) $ 116,527 $ 101,257 (1) The fair value of transferred assets is $148,007 (October 31, 2018 – $132,534) and the fair value of the associated liabilities is $116,527 (October 31, 2018 – $101,257) for a net position of $31,480 (October 31, 2018 – $31,277). (2) Does not include over-collateralization of assets pledged. (3) Liabilities for securities lending arrangements only include amounts related to cash collateral received. In most cases, securities are received as collateral. |
Investments in associates (Tabl
Investments in associates (Tables) | 3 Months Ended |
Jan. 31, 2019 | |
Investments accounted for using equity method [abstract] | |
Significant Investments in Associates | The Bank had significant investments in the following associates: As at January 31 October 31 ($ millions) Country of Nature of Ownership Date of financial (1) Carrying Carrying Thanachart Bank Public Company Limited Thailand Banking 49.0% January 31, 2019 $ 3,218 $ 2,961 Canadian Tire’s Financial Services business (CTFS) (2) Canada Financial Services 20.0% December 31, 2018 518 518 Bank of Xi’an Co. Ltd. China Banking 19.9% December 31, 2018 822 772 Maduro & Curiel’s Bank N.V. (3) Curacao Banking 48.1% December 31, 2018 305 304 (1) Represents the date of the most recent financial statements made available to the Bank by the associates’ management. (2) Under the agreement Canadian Tire has an option to sell to the Bank up to an additional 29% equity interest within the next 10 years at the then fair value, that can be settled, at the Bank’s discretion, by issuance of common shares or cash. After 10 years, for a period of six months, the Bank has the option to sell its equity interest back to Canadian Tire at the then fair value. (3) The local regulator requires financial institutions to set aside reserves for general banking risks. These reserves are not required under IFRS, and represent undistributed retained earnings related to a foreign associated corporation, which are subject to local regulatory restrictions. As of January 31, 2019, these reserves amounted to $62 (October 31, 2018 – $62). |
Deposits (Tables)
Deposits (Tables) | 3 Months Ended |
Jan. 31, 2019 | |
Text block [abstract] | |
Summary of Deposits | As at January 31, 2019 October 31 2018 Payable on demand (1) Payable after notice (2) Payable on a fixed date (3) Total ($ millions) Interest- bearing Non-interest- bearing Total Personal $ 7,163 $ 8,347 $ 125,874 $ 80,537 $ 221,921 $ 214,545 Business and government 94,594 24,664 33,137 282,354 434,749 422,002 Financial institutions 5,922 495 1,606 26,186 34,209 39,987 $ 107,679 $ 33,506 $ 160,617 (4) $ 389,077 $ 690,879 $ 676,534 Recorded in: Canada $ 79,453 $ 16,512 $ 123,731 $ 251,813 $ 471,509 $ 472,798 United States 16,895 130 7,758 45,766 70,549 59,938 United Kingdom – – 271 16,788 17,059 16,847 Mexico 11 5,020 6,067 12,348 23,446 21,151 Peru 4,257 135 4,206 7,406 16,004 15,213 Chile 2,864 3,300 153 18,780 25,097 24,180 Colombia 40 796 4,523 4,835 10,194 9,543 Other International 4,159 7,613 13,908 31,341 57,021 56,864 Total (5) $ 107,679 $ 33,506 $ 160,617 $ 389,077 $ 690,879 $ 676,534 (1) Deposits payable on demand include all deposits for which we do not have the right to notice of withdrawal, generally chequing accounts. (2) Deposits payable after notice include all deposits for which we require notice of withdrawal, generally savings accounts. (3) All deposits that mature on a specified date, generally term deposits, guaranteed investments certificates and similar instruments. (4) Includes $128 (October 31, 2018 – $141) of non-interest-bearing (5) Deposits denominated in U.S. dollars amount to $224,829 (October 31, 2018 – $219,195), deposits denominated in Chilean pesos amount to $23,141 (October 31, 2018 – $22,731), deposits denominated in Mexican pesos amount to $20,240 (October 31, 2018 – $18,341) and deposits denominated in other foreign currencies amount to $84,400 (October 31, 2018 – $79,582). |
Summary of Maturity Schedule for Term Deposits | The following table presents the maturity schedule for term deposits in Canada greater than $100,000 (1) ($ millions) Within three months Three to six months Six to twelve months One to five years Over five years Total As at January 31, 2019 $ 41,841 $ 24,422 $ 35,521 $ 96,448 $ 14,542 $ 212,774 As at October 31, 2018 $ 36,670 $ 23,913 $ 42,830 $ 99,734 $ 19,872 $ 223,019 (1) The majority of foreign term deposits are in excess of $100,000. |
Capital management (Tables)
Capital management (Tables) | 3 Months Ended |
Jan. 31, 2019 | |
Text block [abstract] | |
Summary of Regulatory Capital and Leverage Position | The Bank’s regulatory capital and leverage position were as follows: As at ($ millions) January 31, 2019 (1) October 31, 2018 (1) Capital Common Equity Tier 1 capital $ 45,344 $ 44,443 Net Tier 1 capital 50,869 50,187 Total regulatory capital 59,796 57,364 Risk-weighted assets/exposures used in calculation of capital ratios CET1 risk-weighted assets (1)(2) $ 408,565 $ 400,507 Tier 1 risk-weighted assets (1)(2) 408,565 400,680 Total risk-weighted assets (1)(2) 408,565 400,853 Leverage exposures 1,167,691 1,119,099 Capital ratios Common Equity Tier 1 capital ratio 11.1 % 11.1 % Tier 1 capital ratio 12.5 % 12.5 % Total capital ratio 14.6 % 14.3 % Leverage ratio 4.4 % 4.5 % (1) In accordance with OSFI’s requirements, effective January 31, 2019, CVA risk-weighted assets have been fully phased-in. In the prior year, CVA RWA were calculated using scalars of 0.80, 0.83 and 0.86 to compute the CET1 capital ratio, Tier 1 capital ratio and Total capital ratio, respectively. (2) As at January 31, 2019 and October 31, 2018, the Bank did not have a regulatory capital floor add-on |
Employee benefits (Tables)
Employee benefits (Tables) | 3 Months Ended |
Jan. 31, 2019 | |
Text block [abstract] | |
Summary of Expenses for Bank's Principal Plans | The following table summarizes the expenses for the Bank’s principal plans (1) For the three months ended Pension plans Other benefit plans ($ millions) January 31 January 31 January 31 January 31 Defined benefit service cost (2) $ 76 $ 79 $ 7 $ (193 ) Interest on net defined benefit (asset) liability (2 ) – 13 13 Other 4 3 1 (2 ) Defined benefit expense $ 78 $ 82 $ 21 $ (182 ) Defined contribution expense $ 14 $ 10 n/a n/a Increase (Decrease) in other comprehensive income related to employee benefits (3) $ (395 ) $ 50 $ (65 ) $ 34 (1) Other plans operated by certain subsidiaries of the Bank are not considered material and are not included in this note. (2) The service cost for other benefit plans includes a decrease of $203 million in the first quarter of fiscal 2018, related to modifications to the Bank’s post-retirement benefits plan. (3) Changes in discount rates and return on plan assets are reviewed and updated on a quarterly basis. In the absence of legislated changes, all other assumptions are updated annually. |
Operating segments (Tables)
Operating segments (Tables) | 3 Months Ended |
Jan. 31, 2019 | |
Text block [abstract] | |
Schedule of Operating Segments | Scotiabank’s results, and average assets and liabilities, allocated by these operating segments, are as follows: For the three months ended January 31, 2019 Taxable equivalent basis ($ millions) Canadian International Global Other (1) Total Net interest income (2) $ 2,036 $ 2,080 $ 372 $ (214 ) $ 4,274 Non-interest (3)(4) 1,379 1,251 703 (3 ) 3,330 Total revenues 3,415 3,331 1,075 (217 ) 7,604 Provision for credit losses 233 470 (16 ) 1 688 Non-interest 1,730 1,742 645 54 4,171 Provision for income taxes 379 226 111 (218 ) 498 Net income $ 1,073 $ 893 $ 335 $ (54 ) $ 2,247 Net income attributable to non-controlling $ – $ 111 $ – $ – $ 111 Net income attributable to equity holders of the Bank $ 1,073 $ 782 $ 335 $ (54 ) $ 2,136 Average assets ($ billions) $ 356 $ 197 $ 364 $ 116 $ 1,033 Average liabilities ($ billions) $ 274 $ 154 $ 297 $ 239 $ 964 (1) Includes all other smaller operating segments and corporate adjustments, such as the elimination of the tax-exempt gross-up non-interest (2) Interest income is reported net of interest expense as management relies primarily on net interest income as a performance measure. (3) Card revenues, Banking services fees, and Investment management and trust fees are mainly earned in Canadian and International Banking. Mutual fund and Brokerage fees are primarily earned in Canadian Banking with the remainder being earned in International Banking. Underwriting and other advisory fees are predominantly earned in Global Banking and Markets. (4) Includes income (on a taxable equivalent basis) from investments in associated corporations for Canadian Banking – $13; International Banking – $161 and Other – $(45). For the three months ended October 31, 2018 Taxable equivalent basis ($ millions) Canadian International Global Other (1) Total Net interest income (2) $ 2,029 $ 2,030 $ 337 $ (176 ) $ 4,220 Non-interest (3) 1,414 1,104 736 (26 ) 3,228 Total revenues 3,443 3,134 1,073 (202 ) 7,448 Provision for credit losses 198 412 (20 ) – 590 Non-interest 1,747 1,721 553 43 4,064 Provision for income taxes 383 197 124 (181 ) 523 Net income $ 1,115 $ 804 $ 416 $ (64 ) $ 2,271 Net income attributable to non-controlling $ – $ 92 $ – $ – $ 92 Net income attributable to equity holders of the Bank $ 1,115 $ 712 $ 416 $ (64 ) $ 2,179 Average assets ($ billions) $ 349 $ 193 $ 318 $ 111 $ 971 Average liabilities ($ billions) $ 263 $ 153 $ 259 $ 229 $ 904 (1) Includes all other smaller operating segments and corporate adjustments, such as the elimination of the tax-exempt gross-up non-interest (2) Interest income is reported net of interest expense as management relies primarily on net interest income as a performance measure. (3) Includes income (on a taxable equivalent basis) from investments in associated corporations for Canadian Banking – $23; International Banking – $201 and Other – $(55). For the three months ended January 31, 2018 Taxable equivalent basis ($ millions) Canadian International Global Other (1) Total Net interest income (2) $ 1,939 $ 1,707 $ 390 $ (100 ) $ 3,936 Non-interest (3) 1,364 997 800 (9 ) 3,152 Total revenues 3,303 2,704 1,190 (109 ) 7,088 Provision for credit losses 210 344 (9 ) (1 ) 544 Non-interest 1,605 1,442 572 (121 ) 3,498 Provision for income taxes 386 193 173 (43 ) 709 Net income $ 1,102 $ 725 $ 454 $ 56 $ 2,337 Net income attributable to non-controlling $ – $ 58 $ – $ – $ 58 Net income attributable to equity holders of the Bank $ 1,102 $ 667 $ 454 $ 56 $ 2,279 Average assets ($ billions) $ 335 $ 153 $ 334 $ 112 $ 934 Average liabilities ($ billions) $ 248 $ 117 $ 274 $ 234 $ 873 (1) Includes all other smaller operating segments and corporate adjustments, such as the elimination of the tax-exempt gross-up non-interest (2) Interest income is reported net of interest expense as management relies primarily on net interest income as a performance measure. (3) Includes income (on a taxable equivalent basis) from investments in associated corporations for Canadian Banking – $15; International Banking – $133 and Other – $(38). |
Interest income and expense (Ta
Interest income and expense (Tables) | 3 Months Ended |
Jan. 31, 2019 | |
Text block [abstract] | |
Details of Interest Income from Financial Assets | The following table presents details of interest income from financial assets. For the three months ended ($ millions) January 31 October 31 January 31 Loans at amortized cost (1) $ 7,091 $ 6,877 $ 5,803 Securities Amortized cost (1) 95 82 90 FVOCI (1) 353 310 274 Other 68 96 35 Securities purchased under resale agreements and securities borrowed not at FVTPL (1) 130 129 98 Deposits with financial institutions (1) 254 226 181 Interest income $ 7,991 $ 7,720 $ 6,481 (1) The interest income on the financial assets measured at amortized cost and FVOCI is calculated using the effective interest method. |
Details of Interest Expense from Financial Liabilities | The following table presents details of interest expense from financial liabilities. For the three months ended ($ millions) January 31 October 31 January 31 Deposits Amortized cost (1) $ 3,335 $ 3,042 $ 2,246 FVTPL – 21 10 Subordinated debentures (1) 61 55 52 Other Amortized cost (1) 315 371 233 FVTPL 6 11 4 Interest expense $ 3,717 $ 3,500 $ 2,545 (1) The interest expense on the financial liabilities measured at amortized cost is calculated using the effective interest method. |
Trading revenues (Tables)
Trading revenues (Tables) | 3 Months Ended |
Jan. 31, 2019 | |
Text block [abstract] | |
Summary of Trading Revenue | The following table presents details of trading revenues. For the three months ended ($ millions) January 31 October 31 January 31 Interest rate and credit $ 7 $ 40 $ 100 Equities 123 131 95 Commodities 68 46 72 Foreign exchange 84 72 83 Other 47 81 37 Total $ 329 $ 370 $ 387 |
Earnings per share (Tables)
Earnings per share (Tables) | 3 Months Ended |
Jan. 31, 2019 | |
Text block [abstract] | |
Summary of Earnings Per Share | For the three months ended ($ millions) January 31 October 31 January 31 Basic earnings per common share Net income attributable to common shareholders $ 2,107 $ 2,114 $ 2,249 Weighted average number of common shares outstanding (millions) 1,226 1,230 1,199 Basic earnings per common share (1) (in dollars) $ 1.72 $ 1.72 $ 1.88 Diluted earnings per common share Net income attributable to common shareholders $ 2,107 $ 2,114 $ 2,249 Dilutive impact of share-based payment options and others (2) 41 20 13 Net income attributable to common shareholders (diluted) $ 2,148 $ 2,134 $ 2,262 Weighted average number of common shares outstanding (millions) 1,226 1,230 1,199 Dilutive impact of share-based payment options and others (2) (millions) 29 16 16 Weighted average number of diluted common shares outstanding (millions) 1,255 1,246 1,215 Diluted earnings per common share (1) (in dollars) $ 1.71 $ 1.71 $ 1.86 (1) Earnings per share calculations are based on full dollar and share amounts. (2) Certain tandem stock appreciation rights or options as well as acquisition related put/call options that the Bank may settle at its own discretion by issuing common shares were not included in the calculation of diluted earnings per share as they were anti-dilutive. |
Financial instruments (Tables)
Financial instruments (Tables) | 3 Months Ended |
Jan. 31, 2019 | |
Text block [abstract] | |
Summary of Credit Risk Exposures | Under the standardized approach, credit risk is estimated using the risk weights as prescribed by the Basel framework, either based on credit assessments by external rating agencies or based on the counterparty type for non-retail Exposure at default (1) As at January 31, 2019 October 31 ($ millions) AIRB Standardized Total Total By exposure sub-type Non-retail Drawn (2)(3) $ 356,655 $ 65,579 $ 422,234 $ 425,009 Undrawn commitments 89,393 5,139 94,532 92,303 Other exposures (4) 92,862 11,298 104,160 105,232 Total non-retail $ 538,910 $ 82,016 $ 620,926 $ 622,544 Retail Drawn (5) $ 195,020 $ 91,650 $ 286,670 $ 278,605 Undrawn commitments 47,729 – 47,729 48,085 Total retail $ 242,749 $ 91,650 $ 334,399 $ 326,690 Total $ 781,659 $ 173,666 $ 955,325 $ 949,234 (1) After credit risk mitigation and excludes equity securities and other assets. (2) Non-retail (3) Non-retail (4) Includes off-balance over-the-counter (5) Retail drawn includes residential mortgages, credit cards, lines of credit and other personal loans. |
Summary of VaR by Risk Factor | The table below shows the Bank’s VaR by risk factor along with Stressed VaR: For the three months ended As at As at January 31, 2019 January 31 2019 October 31 2018 January 31 2018 ($ millions) Average High Low Credit spread plus interest rate $ 11.3 $ 15.2 $ 8.2 $ 9.8 $ 11.0 $ 14.4 Credit spread 6.8 9.8 3.8 6.1 6.2 9.0 Interest rate 8.4 12.6 6.4 7.0 7.7 11.5 Equities 4.0 8.1 2.1 4.2 5.8 2.4 Foreign exchange 2.3 3.2 1.5 2.5 2.8 2.7 Commodities 2.0 4.7 1.4 2.5 1.7 1.9 Debt specific 4.4 5.9 3.2 4.3 3.6 2.9 Diversification effect (11.4 ) n/a n/a (12.3 ) (11.7 ) (10.1 ) Total VaR $ 12.6 $ 16.2 $ 10.3 $ 11.0 $ 13.2 $ 14.2 Total Stressed VaR $ 45.3 $ 58.9 $ 31.0 $ 34.7 $ 44.6 $ 55.6 |
Fair Value of Financial Assets and Liabilities Designated at Fair Value Through Profit or Loss and Changes in Fair Value | The following table presents the fair value of assets and liabilities designated at fair value through profit or loss and their changes in fair value. Fair value Change in fair value Cumulative change in fair value (1) As at For the three months ended As at ($ millions) January 31 October 31 January 31 October 31 January 31 January 31 October 31 January 31 Assets Investment securities (2) $ 14 $ 12 $ – $ – $ – $ – $ – $ – Liabilities Senior note liabilities (3) $ 9,907 $ 8,188 $ (176 ) $ 684 $ 59 $ 602 $ 778 $ (32 ) (1) The cumulative change in fair value is measured from the instruments’ date of initial recognition. (2) Changes in fair value are recorded in non-interest (3) Changes in fair value attributable to changes in the Bank’s own credit risk are recorded in other comprehensive income. Other changes in fair value are recorded in non-interest |
Changes in Fair Value Attributable to Changes in Bank'S Own Credit Risk for Financial Liabilities Designated at Fair Value | The following table presents the changes in fair value attributable to changes in the Bank’s own credit risk for financial liabilities designated at fair value through profit or loss as well as their contractual maturity and carrying amounts. Senior Note Liabilities ($ millions) Contractual (1) Carrying value Difference Changes in fair value Cumulative changes (1) As at January 31, 2019 $ 10,509 $ 9,907 $ 602 $ 30 $ (36 ) As at October 31, 2018 8,966 8,188 778 (46 ) (66 ) As at January 31, 2018 5,013 5,045 (32 ) (7 ) (43 ) (1) The cumulative change in fair value is measured from the instruments’ date of initial recognition. |
Summary of Fair Values of Financial Instruments of Bank Using Valuation Methods and Assumption | The following table sets out the fair values of financial instruments of the Bank and excludes non-financial As at January 31, 2019 October 31, 2018 ($ millions) Total fair Total Total fair Total Assets: Cash and deposits with financial institutions $ 52,942 $ 52,942 $ 62,269 $ 62,269 Trading assets 106,956 106,956 100,262 100,262 Financial instruments designated at fair value through profit or loss 14 14 12 12 Securities purchased under resale agreements and securities borrowed 127,959 127,959 104,018 104,018 Derivative financial instruments 32,161 32,161 37,558 37,558 Investment securities – other 57,335 57,335 57,653 57,653 Investment securities – amortized cost 20,459 20,651 20,316 20,743 Loans 568,656 566,105 553,758 551,834 Customers’ liability under acceptances 18,737 18,737 16,329 16,329 Other financial assets 13,079 13,079 10,913 10,913 Liabilities: Deposits 690,101 690,879 674,535 676,534 Financial instruments designated at fair value through profit or loss 9,907 9,907 8,188 8,188 Acceptances 18,746 18,746 16,338 16,338 Obligations related to securities sold short 31,621 31,621 32,087 32,087 Derivative financial instruments 35,970 35,970 37,967 37,967 Obligations related to securities sold under repurchase agreements and securities lent 116,527 116,527 101,257 101,257 Subordinated debentures 7,593 7,492 5,267 5,698 Other financial liabilities 36,446 36,231 35,432 34,805 |
Summary of Fair Value Hierarchy of Instruments Carried at Fair Value on a Recurring Basis | The following table outlines the fair value hierarchy and instruments carried at fair value on a recurring basis. As at As at January 31, 2019 As at October 31, 2018 ($ millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Instruments carried at fair value on a recurring basis: Assets: Precious metals (1) $ – $ 3,608 $ 14 $ 3,622 $ – $ 3,175 $ 16 $ 3,191 Trading assets Loans – 13,161 – 13,161 – 14,334 – 14,334 Canadian federal government and government guaranteed debt 12,497 1,843 – 14,340 13,003 – – 13,003 Canadian provincial and municipal debt – 10,043 – 10,043 – 10,159 – 10,159 US treasury and other US agencies’ debt 9,070 – – 9,070 7,164 – – 7,164 Other foreign governments’ debt 3,068 2,161 – 5,229 4,610 1,833 – 6,443 Corporate and other debt 8 9,548 18 9,574 3 8,984 18 9,005 Income funds 31 – – 31 29 – – 29 Equity securities 44,499 261 – 44,760 39,513 158 – 39,671 Other (2) 748 – – 748 454 – – 454 $ 69,921 $ 40,625 $ 32 $ 110,578 $ 64,776 $ 38,643 $ 34 $ 103,453 Financial assets designated at fair value through profit or loss $ 14 $ – $ – $ 14 $ 12 $ – $ – $ 12 Investment securities (3) Canadian federal government and government guaranteed debt 5,186 2,646 – 7,832 6,373 2,518 – 8,891 Canadian provincial and municipal debt 237 3,291 – 3,528 366 3,986 – 4,352 US treasury and other US agencies’ debt 20,218 473 – 20,691 18,472 669 – 19,141 Other foreign governments’ debt 9,827 9,830 31 19,688 10,457 9,485 48 19,990 Corporate and other debt 230 1,944 17 2,191 732 1,818 13 2,563 Mortgage-backed securities – 1,600 – 1,600 – 906 – 906 Equity securities 833 271 701 1,805 838 263 709 1,810 $ 36,531 $ 20,055 $ 749 $ 57,335 $ 37,238 $ 19,645 $ 770 $ 57,653 Derivative financial instruments Interest rate contracts $ – $ 9,934 $ 46 $ 9,980 $ – $ 8,927 $ 112 $ 9,039 Foreign exchange and gold contracts – 18,771 – 18,771 5 22,197 – 22,202 Equity contracts 578 221 2 801 797 1,556 8 2,361 Credit contracts – 307 – 307 – 349 – 349 Commodity contracts 68 2,234 – 2,302 92 3,515 – 3,607 $ 646 $ 31,467 $ 48 $ 32,161 $ 894 $ 36,544 $ 120 $ 37,558 Liabilities: Deposits (4) $ – $ (205 ) $ – $ (205 ) $ – $ (401 ) $ – $ (401 ) Financial liabilities designated at fair value through profit or loss – 9,907 – 9,907 – 8,188 – 8,188 Obligations related to securities sold short 26,434 5,187 – 31,621 24,563 7,524 – 32,087 Derivative financial instruments Interest rate contracts – 10,761 32 10,793 – 11,012 74 11,086 Foreign exchange and gold contracts 3 18,186 – 18,189 – 20,537 – 20,537 Equity contracts 967 2,712 7 3,686 1,057 1,884 5 2,946 Credit contracts – 58 – 58 – 70 – 70 Commodity contracts 26 3,218 – 3,244 34 3,294 – 3,328 $ 996 $ 34,935 $ 39 $ 35,970 $ 1,091 $ 36,797 $ 79 $ 37,967 (1) The fair value of precious metals is determined based on quoted market prices and forward spot prices, where applicable. (2) Represents energy related assets. (3) Excludes debt investment securities measured at amortized cost of $20,651 (October 31, 2018 – $20,743). (4) These amounts represent embedded derivatives bifurcated from structured notes. |
Summary of Changes in Level 3 Instruments Carried at Fair Value | The following table summarizes the changes in Level 3 instruments carried at fair value for the three months ended January 31, 2019. All positive balances represent assets and negative balances represent liabilities. Consequently, positive amounts indicate purchases of assets or settlements of liabilities and negative amounts indicate sales of assets or issuances of liabilities. As at January 31, 2019 ($ millions) Fair value, Gains/ Gains/ Purchases/ Sales/ Transfers Fair value, end Changes in (1) Precious metals $ 16 $ – $ – $ – $ (2 ) $ – $ 14 $ – 16 – – – (2 ) – 14 – Trading assets Corporate and other debt 18 – – – – – 18 – 18 – – – – – 18 – Investment securities Other foreign governments’ debt 48 – (1 ) – (9 ) (7 ) 31 n/a Corporate and other debt 13 – 4 – – – 17 n/a Equity securities 709 12 8 85 (90 ) (23 ) 701 12 770 12 11 85 (99 ) (30 ) 749 12 Derivative financial instruments – assets Interest rate contracts 112 (54 ) – 4 (16 ) – 46 (54 ) Equity contracts 8 (4 ) – – – (2 ) 2 (4 ) (2) Derivative financial instruments – liabilities Interest rate contracts (74 ) 31 – (3 ) 14 – (32 ) 31 (3) Equity contracts (5 ) – – – – (2 ) (7 ) – (2) 41 (27 ) – 1 (2 ) (4 ) 9 (27 ) Total $ 845 $ (15 ) $ 11 $ 86 $ (103 ) $ (34 ) $ 790 $ (15 ) (1) These amounts represent the gains and losses from fair value changes of Level 3 instruments still held at the end of the period that are recorded in the Consolidated Statement of Income. (2) Certain unrealized gains and losses on derivative assets and liabilities are largely offset by mark-to-market (3) Certain unrealized losses on interest rate derivative contracts are largely offset by mark-to-market The following table summarizes the changes in Level 3 instruments carried at fair value for the three months ended October 31, 2018: As at October 31, 2018 ($ millions) Fair value, Gains/ (1) Gains/ Purchases/ Sales/ Transfers Fair Precious metals $ 11 $ – $ – $ 5 $ – $ – $ 16 Trading assets 20 – – – (2 ) – 18 Investment securities 750 9 – 70 (39 ) (20 ) 770 Derivative financial instruments 28 2 – – – 11 41 (1) Gains or losses for items in Level 3 may be offset with losses or gains on related hedges in Level 1 or Level 2. |
Acquisitions and divestitures (
Acquisitions and divestitures (Tables) | 3 Months Ended |
Jan. 31, 2019 | |
MD Financial Management [member] | |
Statement [LineItems] | |
Summary of Fair Value of Identifiable Net Assets at Acquisition Date | The fair value of the identifiable net assets of MD Financial at the date of acquisition were: ($ millions) Total identifiable net assets at fair value $ 97 Intangible assets Finite life intangible assets (1) 70 Indefinite life intangible assets (2) 1,880 Deferred tax liability (501 ) Goodwill arising on acquisition 1,154 Purchase consideration transferred $ 2,700 (1) Comprised of customer relationship intangible. (2) Comprised of fund management contract of $1.8 billion and acquired trademark of $80 million. |
BBVA Chile [member] | |
Statement [LineItems] | |
Summary of Fair Value of Identifiable Net Assets at Acquisition Date | The fair value of the identifiable net assets of BBVA at the date of acquisition were: ($ millions) Total identifiable net assets at fair value (1) $ 2,272 Intangible assets Finite life intangible assets 143 Deferred tax liability (90 ) Goodwill arising on acquisition 1,281 Non-controlling interest (677 ) Purchase consideration transferred $ 2,929 (1) Includes loans of $20,469 and deposits of $13,444. |
Transition to IFRS 15 - Additio
Transition to IFRS 15 - Additional Information (Detail) - Increase (decrease) due to application of IFRS 15 [member] - CAD ($) $ in Millions | Nov. 01, 2018 | Jan. 31, 2019 |
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Cumulative effect adjustment to decrease in retained earnings net of tax | $ (58) | |
Non-interest expenses decreased | $ (55) | |
Non-interest income decreased | $ (55) |
Cash and Deposits with Financ_3
Cash and Deposits with Financial Institutions - Summary of Cash and Deposits with Financial Institutions (Detail) - CAD ($) $ in Millions | Jan. 31, 2019 | Oct. 31, 2018 | Jan. 31, 2018 | Oct. 31, 2017 | |||
Disclosure Of Cash And Cash Equivalents [abstract] | |||||||
Cash and non-interest-bearing deposits with financial institutions | [1] | $ 9,799 | [2] | $ 8,997 | [2] | $ 7,832 | $ 7,825 |
Interest-bearing deposits with financial institutions | 43,143 | 53,272 | |||||
Total | $ 52,942 | $ 62,269 | |||||
[1] | Represents cash and non-interest-bearing deposits with financial institutions (refer to Note 6). | ||||||
[2] | The amounts for the period ended January 31, 2019, have been prepared in accordance with IFRS 15; prior period amounts have not been restated (refer to Notes 3 and 4). |
Cash and Deposits with Financ_4
Cash and Deposits with Financial Institutions - Summary of Cash and Deposits with Financial Institutions (Parenthetical) (Detail) - CAD ($) $ in Millions | 3 Months Ended | 12 Months Ended |
Jan. 31, 2019 | Oct. 31, 2018 | |
Disclosure Of Cash And Cash Equivalents [abstract] | ||
Net of impairment allowances | $ 5 | $ 3 |
Cash and Deposits with Financ_5
Cash and Deposits with Financial Institutions - Additional Information (Detail) - CAD ($) $ in Millions | Jan. 31, 2019 | Oct. 31, 2018 |
Mandatory Reserve Deposits At Central Banks [abstract] | ||
Cash balances required to maintain with central banks, other regulatory authorities and certain counterparties | $ 9,286 | $ 8,886 |
Investment Securities - Disclos
Investment Securities - Disclosure of Carrying Value of Banks Investment Securities Per Measurement Category (Detail) - CAD ($) $ in Millions | Jan. 31, 2019 | Oct. 31, 2018 |
Disclosure of financial assets [line items] | ||
Investment securities | $ 77,986 | $ 78,396 |
Debt Investments [member] | Financial assets measured at fair value through other comprehensive income, category [member] | ||
Disclosure of financial assets [line items] | ||
Investment securities | 55,530 | 55,843 |
Debt Investments [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of financial assets [line items] | ||
Investment securities | 20,651 | 20,743 |
Equity securities [member] | Investments in equity instruments designated at fair value through other comprehensive income [member] | ||
Disclosure of financial assets [line items] | ||
Investment securities | 1,253 | 1,305 |
Equity securities [member] | Financial assets at fair value through profit or loss, category [member] | ||
Disclosure of financial assets [line items] | ||
Investment securities | $ 552 | $ 505 |
Investment Securities - Discl_2
Investment Securities - Disclosure of Unrealized Gains and Losses on Fair Value Through Other Comprehensive Income Securities (Detail) - Financial assets measured at fair value through other comprehensive income, category [member] - CAD ($) $ in Millions | Jan. 31, 2019 | Oct. 31, 2018 |
Disclosure of financial assets [line items] | ||
Cost | $ 55,372 | $ 56,129 |
Gross unrealized gains | 330 | 102 |
Gross unrealized losses | 172 | 388 |
Fair value | 55,530 | 55,843 |
Canadian federal government issued or guaranteed debt [member] | ||
Disclosure of financial assets [line items] | ||
Cost | 7,733 | 8,903 |
Gross unrealized gains | 109 | 38 |
Gross unrealized losses | 10 | 50 |
Fair value | 7,832 | 8,891 |
Canadian provincial and municipal debt [member] | ||
Disclosure of financial assets [line items] | ||
Cost | 3,546 | 4,403 |
Gross unrealized gains | 7 | 3 |
Gross unrealized losses | 25 | 54 |
Fair value | 3,528 | 4,352 |
U.S. treasury and other U.S. agency debt [member] | ||
Disclosure of financial assets [line items] | ||
Cost | 20,609 | 19,298 |
Gross unrealized gains | 146 | 6 |
Gross unrealized losses | 64 | 163 |
Fair value | 20,691 | 19,141 |
Other foreign government debt [member] | ||
Disclosure of financial assets [line items] | ||
Cost | 19,684 | 20,022 |
Gross unrealized gains | 54 | 49 |
Gross unrealized losses | 50 | 81 |
Fair value | 19,688 | 19,990 |
Other debt [member] | ||
Disclosure of financial assets [line items] | ||
Cost | 3,800 | 3,503 |
Gross unrealized gains | 14 | 6 |
Gross unrealized losses | 23 | 40 |
Fair value | $ 3,791 | $ 3,469 |
Investment Securities - Summary
Investment Securities - Summary of Analysis of Fair Value and Carrying Value of Investment Securities Measured at Amortized Cost (Detail) - CAD ($) $ in Millions | Jan. 31, 2019 | Oct. 31, 2018 |
Financial assets at fair value, investment securities [member] | ||
Disclosure of financial assets [line items] | ||
Cost | $ 20,459 | $ 20,316 |
Financial assets at fair value, investment securities [member] | Canadian federal government issued or guaranteed debt [member] | ||
Disclosure of financial assets [line items] | ||
Cost | 5,927 | 6,530 |
Financial assets at fair value, investment securities [member] | U.S. treasury and other U.S. agency debt [member] | ||
Disclosure of financial assets [line items] | ||
Cost | 4,165 | 4,321 |
Financial assets at fair value, investment securities [member] | Other foreign government debt [member] | ||
Disclosure of financial assets [line items] | ||
Cost | 2,893 | 3,086 |
Financial assets at fair value, investment securities [member] | Corporate debt [member] | ||
Disclosure of financial assets [line items] | ||
Cost | 7,474 | 6,379 |
Financial assets at carrying value, investment securities [member] | ||
Disclosure of financial assets [line items] | ||
Cost | 20,651 | 20,743 |
Financial assets at carrying value, investment securities [member] | Canadian federal government issued or guaranteed debt [member] | ||
Disclosure of financial assets [line items] | ||
Cost | 6,011 | 6,681 |
Financial assets at carrying value, investment securities [member] | U.S. treasury and other U.S. agency debt [member] | ||
Disclosure of financial assets [line items] | ||
Cost | 4,256 | 4,462 |
Financial assets at carrying value, investment securities [member] | Other foreign government debt [member] | ||
Disclosure of financial assets [line items] | ||
Cost | 2,915 | 3,131 |
Financial assets at carrying value, investment securities [member] | Corporate debt [member] | ||
Disclosure of financial assets [line items] | ||
Cost | $ 7,469 | $ 6,469 |
Investment Securities - Summa_2
Investment Securities - Summary of Analysis of Fair Value and Carrying Value of Investment Securities Measured at Amortized Cost (Parenthetical) (Detail) - CAD ($) $ in Millions | Jan. 31, 2019 | Oct. 31, 2018 |
Disclosure of financial assets [abstract] | ||
Net impairment allowances | $ 1 |
Investment Securities - Summa_3
Investment Securities - Summary of Equity Investment Securities Designated as at Fair Value Through Other Comprehensive Income (Detail) - Investments in equity instruments designated at fair value through other comprehensive income [member] - CAD ($) $ in Millions | Jan. 31, 2019 | Oct. 31, 2018 |
Disclosure of financial assets [line items] | ||
Cost | $ 1,208 | $ 1,271 |
Gross unrealized gains | 146 | 126 |
Gross unrealized losses | 101 | 92 |
Fair value | 1,253 | 1,305 |
Preferred equity instruments [member] | ||
Disclosure of financial assets [line items] | ||
Cost | 267 | 334 |
Gross unrealized losses | 85 | 54 |
Fair value | 182 | 280 |
Common shares [member] | ||
Disclosure of financial assets [line items] | ||
Cost | 941 | 937 |
Gross unrealized gains | 146 | 126 |
Gross unrealized losses | 16 | 38 |
Fair value | $ 1,071 | $ 1,025 |
Loans, Impaired Loans and All_3
Loans, Impaired Loans and Allowance for Credit Losses - Schedule of Loans at Amortized Cost (Detail) - CAD ($) $ in Millions | Jan. 31, 2019 | Oct. 31, 2018 |
Net Carrying Amount [member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 566,105 | $ 551,834 |
Net Carrying Amount [member] | Residential mortgages [member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 257,940 | 252,679 |
Net Carrying Amount [member] | Loans to consumers [member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 94,539 | 93,910 |
Net Carrying Amount [member] | Credit Card [member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 15,912 | 15,272 |
Net Carrying Amount [member] | Business and government [member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 197,714 | 189,973 |
Impaired loans [member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 571,216 | 556,899 |
Impaired loans [member] | Residential mortgages [member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 258,649 | 253,357 |
Impaired loans [member] | Loans to consumers [member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 96,650 | 96,019 |
Impaired loans [member] | Credit Card [member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 17,124 | 16,485 |
Impaired loans [member] | Business and government [member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 198,793 | 191,038 |
Financial assets individually assessed for credit losses [member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 5,111 | 5,065 |
Financial assets individually assessed for credit losses [member] | Residential mortgages [member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 709 | 678 |
Financial assets individually assessed for credit losses [member] | Loans to consumers [member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2,111 | 2,109 |
Financial assets individually assessed for credit losses [member] | Credit Card [member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,212 | 1,213 |
Financial assets individually assessed for credit losses [member] | Business and government [member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 1,079 | $ 1,065 |
Loans, Impaired Loans and All_4
Loans, Impaired Loans and Allowance for Credit Losses - Impaired Loans (Detail) - CAD ($) $ in Millions | Jan. 31, 2019 | Oct. 31, 2018 |
Disclosure of detailed information about financial instruments [line items] | ||
Gross impaired loans | $ 571,216 | $ 556,899 |
Allowance for credit losses | 5,111 | 5,065 |
Net | 566,105 | 551,834 |
Residential mortgages [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gross impaired loans | 258,649 | 253,357 |
Allowance for credit losses | 709 | 678 |
Net | 257,940 | 252,679 |
Loans to consumers [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gross impaired loans | 96,650 | 96,019 |
Allowance for credit losses | 2,111 | 2,109 |
Net | 94,539 | 93,910 |
Business and government [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gross impaired loans | 198,793 | 191,038 |
Allowance for credit losses | 1,079 | 1,065 |
Net | 197,714 | 189,973 |
Financial instruments credit-impaired [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gross impaired loans | 5,287 | 5,130 |
Allowance for credit losses | 1,680 | 1,677 |
Net | 3,607 | 3,453 |
Financial instruments credit-impaired [member] | Canada [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gross impaired loans | 1,058 | 999 |
Allowance for credit losses | 367 | 381 |
Net | 691 | 618 |
Financial instruments credit-impaired [member] | United States [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gross impaired loans | 108 | 80 |
Allowance for credit losses | 24 | 25 |
Net | 84 | 55 |
Financial instruments credit-impaired [member] | Mexico [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gross impaired loans | 413 | 359 |
Allowance for credit losses | 172 | 164 |
Net | 241 | 195 |
Financial instruments credit-impaired [member] | Peru [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gross impaired loans | 615 | 581 |
Allowance for credit losses | 338 | 317 |
Net | 277 | 264 |
Financial instruments credit-impaired [member] | Chile [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gross impaired loans | 793 | 753 |
Allowance for credit losses | 158 | 158 |
Net | 635 | 595 |
Financial instruments credit-impaired [member] | Colombia [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gross impaired loans | 607 | 619 |
Allowance for credit losses | 162 | 159 |
Net | 445 | 460 |
Financial instruments credit-impaired [member] | Other International [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gross impaired loans | 1,693 | 1,739 |
Allowance for credit losses | 459 | 473 |
Net | 1,234 | 1,266 |
Financial instruments credit-impaired [member] | Residential mortgages [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gross impaired loans | 1,868 | 1,797 |
Allowance for credit losses | 362 | 360 |
Net | 1,506 | 1,437 |
Financial instruments credit-impaired [member] | Loans to consumers [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gross impaired loans | 1,108 | 1,069 |
Allowance for credit losses | 640 | 644 |
Net | 468 | 425 |
Financial instruments credit-impaired [member] | Business and government [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gross impaired loans | 2,311 | 2,264 |
Allowance for credit losses | 678 | 673 |
Net | $ 1,633 | $ 1,591 |
Loans, Impaired Loans and All_5
Loans, Impaired Loans and Allowance for Credit Losses - Impaired Loans (Parenthetical) (Detail) - CAD ($) $ in Millions | 3 Months Ended | 12 Months Ended |
Jan. 31, 2019 | Oct. 31, 2018 | |
Impaired loans [abstract] | ||
Interest income recognized on impaired loans | $ 14 | $ 12 |
Interest income, not classified as impaired loans | $ 94 | $ 93 |
Loans, Impaired Loans and All_6
Loans, Impaired Loans and Allowance for Credit Losses - Allowance For Credit Losses (Detail) - CAD ($) $ in Millions | 3 Months Ended | |
Jan. 31, 2019 | Jan. 31, 2018 | |
Disclosure of detailed information about financial instruments [line items] | ||
Balance at beginning of period | $ 5,147 | |
Provision for credit losses | ||
Provision for credit losses | 685 | |
Net write-offs | (732) | |
Other, including foreign currency adjustment | 89 | |
Balance at end of period | 5,189 | |
Allowance for credit losses [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Balance at beginning of period | 5,065 | |
Provision for credit losses | ||
Balance at end of period | 5,111 | |
Allowance for credit losses on acceptances [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Balance at beginning of period | 8 | |
Provision for credit losses | ||
Balance at end of period | 9 | |
Allowance for credit losses on off balance sheet exposures [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Balance at beginning of period | 74 | |
Provision for credit losses | ||
Balance at end of period | 69 | |
Residential mortgages [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Balance at beginning of period | 678 | $ 717 |
Provision for credit losses | ||
Remeasurement | 13 | 13 |
Newly originated or purchased financial assets | 23 | 8 |
Derecognition of financial assets and maturities | (4) | (1) |
Changes in models and methodologies | 0 | 0 |
Provision for credit losses | 32 | |
Gross write-offs | (20) | (26) |
Net write-offs | (18) | |
Recoveries | 2 | 8 |
Other, including foreign currency adjustment | 17 | |
Foreign exchange and other movements | 17 | (21) |
Balance at end of period | 709 | 698 |
Loans to consumers [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Balance at beginning of period | 2,109 | 1,879 |
Provision for credit losses | ||
Remeasurement | 292 | 274 |
Newly originated or purchased financial assets | 118 | 90 |
Derecognition of financial assets and maturities | (44) | (48) |
Changes in models and methodologies | 0 | 0 |
Provision for credit losses | 366 | |
Gross write-offs | (480) | (344) |
Net write-offs | (408) | |
Recoveries | 72 | 64 |
Other, including foreign currency adjustment | 44 | |
Foreign exchange and other movements | 44 | (12) |
Balance at end of period | 2,111 | 1,903 |
Credit Card [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Balance at beginning of period | 1,213 | 1,163 |
Provision for credit losses | ||
Remeasurement | 210 | 191 |
Newly originated or purchased financial assets | 46 | 95 |
Derecognition of financial assets and maturities | (31) | (102) |
Changes in models and methodologies | 0 | 0 |
Provision for credit losses | 225 | |
Gross write-offs | (312) | (260) |
Net write-offs | (257) | |
Recoveries | 55 | 56 |
Other, including foreign currency adjustment | 31 | |
Foreign exchange and other movements | 31 | (2) |
Balance at end of period | 1,212 | 1,141 |
Business and government [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Balance at beginning of period | 1,147 | |
Provision for credit losses | ||
Remeasurement | 65 | 44 |
Newly originated or purchased financial assets | 39 | 56 |
Derecognition of financial assets and maturities | (42) | (72) |
Changes in models and methodologies | 0 | 0 |
Provision for credit losses | 62 | |
Gross write-offs | (65) | (118) |
Net write-offs | (49) | |
Recoveries | 16 | 18 |
Other, including foreign currency adjustment | (3) | |
Foreign exchange and other movements | (4) | (23) |
Balance at end of period including off-balance sheet exposures | 1,148 | 1,150 |
Less: Allowance for credits losses on off-balance sheet exposures | (69) | (75) |
Balance at end of period | 1,157 | |
Business and government [member] | Gross carrying amount [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Balance at beginning of period | 1,139 | 1,245 |
Business and government [member] | Net amount [member] | ||
Provision for credit losses | ||
Balance at end of period | 1,079 | 1,075 |
Stage 1 [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Balance at beginning of period | 1,223 | |
Provision for credit losses | ||
Balance at end of period | 1,279 | |
Stage 1 [member] | Residential mortgages [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Balance at beginning of period | 112 | 103 |
Provision for credit losses | ||
Remeasurement | (24) | (22) |
Newly originated or purchased financial assets | 23 | 8 |
Derecognition of financial assets and maturities | (1) | |
Changes in models and methodologies | 0 | 0 |
Transfer to (from)stage 1 | 12 | 26 |
Transfer to (from)stage 2 | (5) | (8) |
Foreign exchange and other movements | 4 | (2) |
Balance at end of period | 121 | 105 |
Stage 1 [member] | Loans to consumers [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Balance at beginning of period | 578 | 477 |
Provision for credit losses | ||
Remeasurement | (152) | (110) |
Newly originated or purchased financial assets | 118 | 90 |
Derecognition of financial assets and maturities | (19) | (22) |
Changes in models and methodologies | 0 | 0 |
Transfer to (from)stage 1 | 108 | 117 |
Transfer to (from)stage 2 | (46) | (54) |
Transfer to (from)stage 3 | (1) | (1) |
Foreign exchange and other movements | 10 | (4) |
Balance at end of period | 596 | 493 |
Stage 1 [member] | Credit Card [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Balance at beginning of period | 401 | 364 |
Provision for credit losses | ||
Remeasurement | (68) | (52) |
Newly originated or purchased financial assets | 46 | 95 |
Derecognition of financial assets and maturities | (14) | (51) |
Changes in models and methodologies | 0 | 0 |
Transfer to (from)stage 1 | 69 | 61 |
Transfer to (from)stage 2 | (32) | (55) |
Transfer to (from)stage 3 | (1) | |
Foreign exchange and other movements | 8 | (5) |
Balance at end of period | 410 | 356 |
Stage 1 [member] | Business and government [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Balance at beginning of period | 132 | |
Provision for credit losses | ||
Remeasurement | (16) | (30) |
Newly originated or purchased financial assets | 39 | 56 |
Derecognition of financial assets and maturities | (27) | (29) |
Changes in models and methodologies | 0 | 0 |
Transfer to (from)stage 1 | 30 | 26 |
Transfer to (from)stage 2 | (5) | (37) |
Transfer to (from)stage 3 | (1) | |
Foreign exchange and other movements | 3 | (4) |
Balance at end of period including off-balance sheet exposures | 197 | 159 |
Less: Allowance for credits losses on off-balance sheet exposures | (45) | (40) |
Balance at end of period | 152 | |
Stage 1 [member] | Business and government [member] | Gross carrying amount [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Balance at beginning of period | 173 | 178 |
Stage 1 [member] | Business and government [member] | Net amount [member] | ||
Provision for credit losses | ||
Balance at end of period | 152 | 119 |
Stage 2 [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Balance at beginning of period | 2,165 | |
Provision for credit losses | ||
Balance at end of period | 2,152 | |
Stage 2 [member] | Residential mortgages [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Balance at beginning of period | 206 | 214 |
Provision for credit losses | ||
Remeasurement | 8 | 2 |
Derecognition of financial assets and maturities | (3) | (1) |
Changes in models and methodologies | 0 | 0 |
Transfer to (from)stage 1 | (11) | (23) |
Transfer to (from)stage 2 | 28 | 24 |
Transfer to (from)stage 3 | (9) | (10) |
Foreign exchange and other movements | 7 | (7) |
Balance at end of period | 226 | 199 |
Stage 2 [member] | Loans to consumers [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Balance at beginning of period | 887 | 802 |
Provision for credit losses | ||
Remeasurement | 140 | 145 |
Derecognition of financial assets and maturities | (25) | (26) |
Changes in models and methodologies | 0 | 0 |
Transfer to (from)stage 1 | (107) | (114) |
Transfer to (from)stage 2 | 66 | 79 |
Transfer to (from)stage 3 | (79) | (70) |
Foreign exchange and other movements | (7) | (4) |
Balance at end of period | 875 | 812 |
Stage 2 [member] | Credit Card [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Balance at beginning of period | 812 | 799 |
Provision for credit losses | ||
Remeasurement | 108 | 91 |
Derecognition of financial assets and maturities | (17) | (51) |
Changes in models and methodologies | 0 | 0 |
Transfer to (from)stage 1 | (69) | (61) |
Transfer to (from)stage 2 | 32 | 55 |
Transfer to (from)stage 3 | (70) | (53) |
Foreign exchange and other movements | 6 | 5 |
Balance at end of period | 802 | 785 |
Stage 2 [member] | Business and government [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Balance at beginning of period | 260 | |
Provision for credit losses | ||
Remeasurement | 12 | 20 |
Derecognition of financial assets and maturities | (8) | (36) |
Changes in models and methodologies | 0 | 0 |
Transfer to (from)stage 1 | (30) | (26) |
Transfer to (from)stage 2 | 7 | 37 |
Transfer to (from)stage 3 | (2) | (4) |
Foreign exchange and other movements | 2 | (9) |
Balance at end of period including off-balance sheet exposures | 272 | 289 |
Less: Allowance for credits losses on off-balance sheet exposures | (23) | (31) |
Balance at end of period | 249 | |
Stage 2 [member] | Business and government [member] | Gross carrying amount [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Balance at beginning of period | 291 | 307 |
Stage 2 [member] | Business and government [member] | Net amount [member] | ||
Provision for credit losses | ||
Balance at end of period | 249 | 258 |
Stage 3 [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Balance at beginning of period | 1,677 | |
Provision for credit losses | ||
Balance at end of period | 1,680 | |
Stage 3 [member] | Residential mortgages [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Balance at beginning of period | 360 | 400 |
Provision for credit losses | ||
Remeasurement | 29 | 33 |
Changes in models and methodologies | 0 | 0 |
Transfer to (from)stage 1 | (1) | (3) |
Transfer to (from)stage 2 | (23) | (16) |
Transfer to (from)stage 3 | 9 | 10 |
Gross write-offs | (20) | (26) |
Recoveries | 2 | 8 |
Foreign exchange and other movements | 6 | (12) |
Balance at end of period | 362 | 394 |
Stage 3 [member] | Loans to consumers [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Balance at beginning of period | 644 | 600 |
Provision for credit losses | ||
Remeasurement | 304 | 239 |
Changes in models and methodologies | 0 | 0 |
Transfer to (from)stage 1 | (1) | (3) |
Transfer to (from)stage 2 | (20) | (25) |
Transfer to (from)stage 3 | 80 | 71 |
Gross write-offs | (480) | (344) |
Recoveries | 72 | 64 |
Foreign exchange and other movements | 41 | (4) |
Balance at end of period | 640 | 598 |
Stage 3 [member] | Credit Card [member] | ||
Provision for credit losses | ||
Remeasurement | 170 | 152 |
Changes in models and methodologies | 0 | 0 |
Transfer to (from)stage 3 | 70 | 54 |
Gross write-offs | (312) | (260) |
Recoveries | 55 | 56 |
Foreign exchange and other movements | 17 | (2) |
Stage 3 [member] | Business and government [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Balance at beginning of period | 673 | |
Provision for credit losses | ||
Remeasurement | 69 | 54 |
Derecognition of financial assets and maturities | (7) | (7) |
Changes in models and methodologies | 0 | 0 |
Transfer to (from)stage 2 | (2) | |
Transfer to (from)stage 3 | 2 | 5 |
Gross write-offs | (65) | (118) |
Recoveries | 16 | 18 |
Foreign exchange and other movements | (9) | (10) |
Balance at end of period including off-balance sheet exposures | 679 | 702 |
Less: Allowance for credits losses on off-balance sheet exposures | (1) | (4) |
Balance at end of period | 678 | |
Stage 3 [member] | Business and government [member] | Gross carrying amount [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Balance at beginning of period | 675 | 760 |
Stage 3 [member] | Business and government [member] | Net amount [member] | ||
Provision for credit losses | ||
Balance at end of period | $ 678 | $ 698 |
Loans, Impaired Loans and All_7
Loans, Impaired Loans and Allowance for Credit Losses - Allowance For Credit Losses (Parenthetical) (Detail) - CAD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||||
Jan. 31, 2019 | Oct. 31, 2018 | Jan. 31, 2018 | Oct. 31, 2018 | |||
Disclosure of detailed information about financial instruments [line items] | ||||||
Allowance for credit losses for other financial assets | $ 88 | $ 89 | ||||
Interest income on impaired loans | [1] | 7,091 | [2] | $ 6,877 | $ 5,803 | |
Gross impaired loans [member] | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Interest income on impaired loans | $ 94 | $ 93 | ||||
[1] | Includes interest income on financial assets measured at amortized cost and FVOCI, calculated using the effective interest method, of $7,923 for the quarter ended January 31, 2019 (October 31, 2018 - $7,624; January 31, 2018 - $6,446). | |||||
[2] | The amounts for the period ended January 31, 2019, have been prepared in accordance with IFRS 15; prior period amounts have not been restated (refer to Notes 3 and 4). |
Loans, Impaired Loans and All_8
Loans, Impaired Loans and Allowance for Credit Losses - Summary of Carrying Value of Exposures by Risk Rating (Detail) - CAD ($) $ in Millions | Jan. 31, 2019 | Oct. 31, 2018 |
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | $ 571,216 | $ 556,899 |
Allowance for credit losses | 5,111 | 5,065 |
Carrying value of loans net of ACL | 566,105 | 551,834 |
Residential mortgages [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 258,649 | 253,357 |
Allowance for credit losses | 709 | 678 |
Carrying value of loans net of ACL | 257,940 | 252,679 |
Residential mortgages [member] | Very low probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 148,319 | 146,768 |
Residential mortgages [member] | Low probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 58,812 | 58,532 |
Residential mortgages [member] | Medium probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 14,054 | 12,661 |
Residential mortgages [member] | High probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 4,999 | 5,130 |
Residential mortgages [member] | Very High probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 1,969 | 1,804 |
Residential mortgages [member] | Loans not graded [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 28,628 | 26,665 |
Residential mortgages [member] | Default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 1,868 | 1,797 |
Loans to consumers [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 96,650 | 96,019 |
Allowance for credit losses | 2,111 | 2,109 |
Carrying value of loans net of ACL | 94,539 | 93,910 |
Loans to consumers [member] | Very low probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 30,419 | 30,726 |
Loans to consumers [member] | Low probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 26,116 | 26,190 |
Loans to consumers [member] | Medium probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 9,021 | 8,717 |
Loans to consumers [member] | High probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 10,457 | 10,333 |
Loans to consumers [member] | Very High probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 1,562 | 1,420 |
Loans to consumers [member] | Loans not graded [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 17,967 | 17,564 |
Loans to consumers [member] | Default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 1,108 | 1,069 |
Undrawn loan commitments retail [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of undrawn loan commitments net of ACL | 116,436 | 116,794 |
Undrawn loan commitments retail [member] | Very low probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of undrawn loan commitments before ACL | 73,395 | 72,321 |
Undrawn loan commitments retail [member] | Low probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of undrawn loan commitments before ACL | 16,855 | 16,533 |
Undrawn loan commitments retail [member] | Medium probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of undrawn loan commitments before ACL | 6,486 | 6,108 |
Undrawn loan commitments retail [member] | High probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of undrawn loan commitments before ACL | 3,525 | 3,301 |
Undrawn loan commitments retail [member] | Very High probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of undrawn loan commitments before ACL | 396 | 393 |
Undrawn loan commitments retail [member] | Loans not graded [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of undrawn loan commitments before ACL | 15,779 | 18,138 |
Business and government [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 198,793 | 191,038 |
Allowance for credit losses | 1,079 | 1,065 |
Carrying value of loans net of ACL | 197,714 | 189,973 |
Business and government [member] | Loans not graded [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 1,752 | 1,702 |
Business and government [member] | Default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 2,311 | 2,264 |
Business and government [member] | Investment grade [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 97,374 | 90,817 |
Business and government [member] | Non investment grade [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 94,674 | 93,436 |
Business and government [member] | Watch list [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 2,682 | 2,819 |
Undrawn loan commitments business and government [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of undrawn loan commitments before ACL | 235,113 | 224,257 |
Allowance for credit losses | 69 | 74 |
Carrying value of undrawn loan commitments net of ACL | 235,044 | 224,183 |
Undrawn loan commitments business and government [member] | Loans not graded [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of undrawn loan commitments before ACL | 2,339 | 2,206 |
Undrawn loan commitments business and government [member] | Default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of undrawn loan commitments before ACL | 4 | 4 |
Undrawn loan commitments business and government [member] | Investment grade [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of undrawn loan commitments before ACL | 167,315 | 161,543 |
Undrawn loan commitments business and government [member] | Non investment grade [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of undrawn loan commitments before ACL | 64,381 | 59,446 |
Undrawn loan commitments business and government [member] | Watch list [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of undrawn loan commitments before ACL | 1,074 | 1,058 |
Credit Card [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 17,124 | 16,485 |
Allowance for credit losses | 1,212 | 1,213 |
Carrying value of loans net of ACL | 15,912 | 15,272 |
Credit Card [member] | Very low probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 1,473 | 1,423 |
Credit Card [member] | Low probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 2,562 | 2,450 |
Credit Card [member] | Medium probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 3,596 | 3,429 |
Credit Card [member] | High probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 4,633 | 4,384 |
Credit Card [member] | Very High probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 759 | 734 |
Credit Card [member] | Loans not graded [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 4,101 | 4,065 |
Stage one exposure [member] | Residential mortgages [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 245,639 | 241,083 |
Allowance for credit losses | 121 | 112 |
Carrying value of loans net of ACL | 245,518 | 240,971 |
Stage one exposure [member] | Residential mortgages [member] | Very low probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 147,899 | 146,461 |
Stage one exposure [member] | Residential mortgages [member] | Low probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 58,299 | 58,154 |
Stage one exposure [member] | Residential mortgages [member] | Medium probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 13,008 | 11,689 |
Stage one exposure [member] | Residential mortgages [member] | High probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 1,556 | 1,615 |
Stage one exposure [member] | Residential mortgages [member] | Very High probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 14 | 25 |
Stage one exposure [member] | Residential mortgages [member] | Loans not graded [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 24,863 | 23,139 |
Stage one exposure [member] | Loans to consumers [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 87,572 | 87,210 |
Allowance for credit losses | 596 | 578 |
Carrying value of loans net of ACL | 86,976 | 86,632 |
Stage one exposure [member] | Loans to consumers [member] | Very low probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 30,351 | 30,660 |
Stage one exposure [member] | Loans to consumers [member] | Low probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 25,941 | 26,039 |
Stage one exposure [member] | Loans to consumers [member] | Medium probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 8,614 | 8,315 |
Stage one exposure [member] | Loans to consumers [member] | High probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 6,909 | 6,686 |
Stage one exposure [member] | Loans to consumers [member] | Very High probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 63 | 58 |
Stage one exposure [member] | Loans to consumers [member] | Loans not graded [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 15,694 | 15,452 |
Stage one exposure [member] | Undrawn loan commitments retail [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of undrawn loan commitments net of ACL | 112,561 | 112,312 |
Stage one exposure [member] | Undrawn loan commitments retail [member] | Very low probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of undrawn loan commitments before ACL | 73,395 | 72,321 |
Stage one exposure [member] | Undrawn loan commitments retail [member] | Low probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of undrawn loan commitments before ACL | 16,853 | 16,531 |
Stage one exposure [member] | Undrawn loan commitments retail [member] | Medium probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of undrawn loan commitments before ACL | 6,403 | 6,029 |
Stage one exposure [member] | Undrawn loan commitments retail [member] | High probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of undrawn loan commitments before ACL | 2,815 | 2,631 |
Stage one exposure [member] | Undrawn loan commitments retail [member] | Very High probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of undrawn loan commitments before ACL | 25 | 26 |
Stage one exposure [member] | Undrawn loan commitments retail [member] | Loans not graded [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of undrawn loan commitments before ACL | 13,070 | 14,774 |
Stage one exposure [member] | Business and government [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 179,616 | 171,957 |
Allowance for credit losses | 152 | 132 |
Carrying value of loans net of ACL | 179,464 | 171,825 |
Stage one exposure [member] | Business and government [member] | Loans not graded [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 1,522 | 1,050 |
Stage one exposure [member] | Business and government [member] | Investment grade [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 92,881 | 87,047 |
Stage one exposure [member] | Business and government [member] | Non investment grade [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 85,043 | 83,730 |
Stage one exposure [member] | Business and government [member] | Watch list [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 170 | 130 |
Stage one exposure [member] | Undrawn loan commitments business and government [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of undrawn loan commitments before ACL | 224,920 | 218,140 |
Allowance for credit losses | 45 | 41 |
Carrying value of undrawn loan commitments net of ACL | 224,875 | 218,099 |
Stage one exposure [member] | Undrawn loan commitments business and government [member] | Loans not graded [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of undrawn loan commitments before ACL | 2,106 | 2,178 |
Stage one exposure [member] | Undrawn loan commitments business and government [member] | Investment grade [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of undrawn loan commitments before ACL | 162,223 | 159,880 |
Stage one exposure [member] | Undrawn loan commitments business and government [member] | Non investment grade [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of undrawn loan commitments before ACL | 60,588 | 56,001 |
Stage one exposure [member] | Undrawn loan commitments business and government [member] | Watch list [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of undrawn loan commitments before ACL | 3 | 81 |
Stage one exposure [member] | Credit Card [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 13,659 | 13,084 |
Allowance for credit losses | 410 | 401 |
Carrying value of loans net of ACL | 13,249 | 12,683 |
Stage one exposure [member] | Credit Card [member] | Very low probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 1,468 | 1,418 |
Stage one exposure [member] | Credit Card [member] | Low probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 2,544 | 2,436 |
Stage one exposure [member] | Credit Card [member] | Medium probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 3,550 | 3,358 |
Stage one exposure [member] | Credit Card [member] | High probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 3,176 | 2,929 |
Stage one exposure [member] | Credit Card [member] | Very High probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 37 | 37 |
Stage one exposure [member] | Credit Card [member] | Loans not graded [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 2,884 | 2,906 |
Stage two exposure [member] | Residential mortgages [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 11,142 | 10,477 |
Allowance for credit losses | 226 | 206 |
Carrying value of loans net of ACL | 10,916 | 10,271 |
Stage two exposure [member] | Residential mortgages [member] | Very low probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 420 | 307 |
Stage two exposure [member] | Residential mortgages [member] | Low probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 513 | 378 |
Stage two exposure [member] | Residential mortgages [member] | Medium probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 1,046 | 972 |
Stage two exposure [member] | Residential mortgages [member] | High probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 3,443 | 3,515 |
Stage two exposure [member] | Residential mortgages [member] | Very High probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 1,955 | 1,779 |
Stage two exposure [member] | Residential mortgages [member] | Loans not graded [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 3,765 | 3,526 |
Stage two exposure [member] | Loans to consumers [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 7,970 | 7,740 |
Allowance for credit losses | 875 | 887 |
Carrying value of loans net of ACL | 7,095 | 6,853 |
Stage two exposure [member] | Loans to consumers [member] | Very low probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 68 | 66 |
Stage two exposure [member] | Loans to consumers [member] | Low probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 175 | 151 |
Stage two exposure [member] | Loans to consumers [member] | Medium probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 407 | 402 |
Stage two exposure [member] | Loans to consumers [member] | High probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 3,548 | 3,647 |
Stage two exposure [member] | Loans to consumers [member] | Very High probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 1,499 | 1,362 |
Stage two exposure [member] | Loans to consumers [member] | Loans not graded [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 2,273 | 2,112 |
Stage two exposure [member] | Undrawn loan commitments retail [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of undrawn loan commitments net of ACL | 3,875 | 4,482 |
Stage two exposure [member] | Undrawn loan commitments retail [member] | Low probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of undrawn loan commitments before ACL | 2 | 2 |
Stage two exposure [member] | Undrawn loan commitments retail [member] | Medium probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of undrawn loan commitments before ACL | 83 | 79 |
Stage two exposure [member] | Undrawn loan commitments retail [member] | High probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of undrawn loan commitments before ACL | 710 | 670 |
Stage two exposure [member] | Undrawn loan commitments retail [member] | Very High probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of undrawn loan commitments before ACL | 371 | 367 |
Stage two exposure [member] | Undrawn loan commitments retail [member] | Loans not graded [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of undrawn loan commitments before ACL | 2,709 | 3,364 |
Stage two exposure [member] | Business and government [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 16,866 | 16,817 |
Allowance for credit losses | 249 | 260 |
Carrying value of loans net of ACL | 16,617 | 16,557 |
Stage two exposure [member] | Business and government [member] | Loans not graded [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 230 | 652 |
Stage two exposure [member] | Business and government [member] | Investment grade [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 4,493 | 3,770 |
Stage two exposure [member] | Business and government [member] | Non investment grade [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 9,631 | 9,706 |
Stage two exposure [member] | Business and government [member] | Watch list [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 2,512 | 2,689 |
Stage two exposure [member] | Undrawn loan commitments business and government [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of undrawn loan commitments before ACL | 10,189 | 6,113 |
Allowance for credit losses | 23 | 31 |
Carrying value of undrawn loan commitments net of ACL | 10,166 | 6,082 |
Stage two exposure [member] | Undrawn loan commitments business and government [member] | Loans not graded [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of undrawn loan commitments before ACL | 233 | 28 |
Stage two exposure [member] | Undrawn loan commitments business and government [member] | Investment grade [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of undrawn loan commitments before ACL | 5,092 | 1,663 |
Stage two exposure [member] | Undrawn loan commitments business and government [member] | Non investment grade [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of undrawn loan commitments before ACL | 3,793 | 3,445 |
Stage two exposure [member] | Undrawn loan commitments business and government [member] | Watch list [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of undrawn loan commitments before ACL | 1,071 | 977 |
Stage two exposure [member] | Credit Card [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 3,465 | 3,401 |
Allowance for credit losses | 802 | 812 |
Carrying value of loans net of ACL | 2,663 | 2,589 |
Stage two exposure [member] | Credit Card [member] | Very low probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 5 | 5 |
Stage two exposure [member] | Credit Card [member] | Low probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 18 | 14 |
Stage two exposure [member] | Credit Card [member] | Medium probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 46 | 71 |
Stage two exposure [member] | Credit Card [member] | High probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 1,457 | 1,455 |
Stage two exposure [member] | Credit Card [member] | Very High probability of default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 722 | 697 |
Stage two exposure [member] | Credit Card [member] | Loans not graded [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 1,217 | 1,159 |
Stage three exposure [member] | Residential mortgages [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 1,868 | 1,797 |
Allowance for credit losses | 362 | 360 |
Carrying value of loans net of ACL | 1,506 | 1,437 |
Stage three exposure [member] | Residential mortgages [member] | Default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 1,868 | 1,797 |
Stage three exposure [member] | Loans to consumers [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 1,108 | 1,069 |
Allowance for credit losses | 640 | 644 |
Carrying value of loans net of ACL | 468 | 425 |
Stage three exposure [member] | Loans to consumers [member] | Default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 1,108 | 1,069 |
Stage three exposure [member] | Business and government [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 2,311 | 2,264 |
Allowance for credit losses | 678 | 673 |
Carrying value of loans net of ACL | 1,633 | 1,591 |
Stage three exposure [member] | Business and government [member] | Default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans before ACL | 2,311 | 2,264 |
Stage three exposure [member] | Undrawn loan commitments business and government [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of undrawn loan commitments before ACL | 4 | 4 |
Allowance for credit losses | 1 | 2 |
Carrying value of undrawn loan commitments net of ACL | 3 | 2 |
Stage three exposure [member] | Undrawn loan commitments business and government [member] | Default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of undrawn loan commitments before ACL | $ 4 | $ 4 |
Loans, Impaired Loans and All_9
Loans, Impaired Loans and Allowance for Credit Losses - Loans Past Due But Not Impaired (Detail) - CAD ($) $ in Millions | Jan. 31, 2019 | Oct. 31, 2018 |
Disclosure of detailed information about financial instruments [line items] | ||
Loans and receivables gross | $ 571,216 | $ 556,899 |
Residential mortgages [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans and receivables gross | 258,649 | 253,357 |
Loans to consumers [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans and receivables gross | 96,650 | 96,019 |
Credit Card [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans and receivables gross | 17,124 | 16,485 |
Business and government [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans and receivables gross | 198,793 | 191,038 |
Financial assets past due but not impaired [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans and receivables gross | 3,889 | 3,687 |
Financial assets past due but not impaired [member] | Residential mortgages [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans and receivables gross | 1,848 | 1,811 |
Financial assets past due but not impaired [member] | Loans to consumers [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans and receivables gross | 981 | 931 |
Financial assets past due but not impaired [member] | Credit Card [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans and receivables gross | 771 | 738 |
Financial assets past due but not impaired [member] | Business and government [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans and receivables gross | 289 | 207 |
31 - 60 days [member] | Financial assets past due but not impaired [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans and receivables gross | 2,320 | 2,297 |
31 - 60 days [member] | Financial assets past due but not impaired [member] | Residential mortgages [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans and receivables gross | 1,256 | 1,290 |
31 - 60 days [member] | Financial assets past due but not impaired [member] | Loans to consumers [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans and receivables gross | 614 | 609 |
31 - 60 days [member] | Financial assets past due but not impaired [member] | Credit Card [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans and receivables gross | 230 | 231 |
31 - 60 days [member] | Financial assets past due but not impaired [member] | Business and government [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans and receivables gross | 220 | 167 |
61 - 90 days [member] | Financial assets past due but not impaired [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans and receivables gross | 1,189 | 1,037 |
61 - 90 days [member] | Financial assets past due but not impaired [member] | Residential mortgages [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans and receivables gross | 592 | 521 |
61 - 90 days [member] | Financial assets past due but not impaired [member] | Loans to consumers [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans and receivables gross | 367 | 322 |
61 - 90 days [member] | Financial assets past due but not impaired [member] | Credit Card [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans and receivables gross | 161 | 154 |
61 - 90 days [member] | Financial assets past due but not impaired [member] | Business and government [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans and receivables gross | 69 | 40 |
91 days and greater [member] | Financial assets past due but not impaired [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans and receivables gross | 380 | 353 |
91 days and greater [member] | Financial assets past due but not impaired [member] | Credit Card [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans and receivables gross | $ 380 | $ 353 |
Loans, Impaired Loans and Al_10
Loans, Impaired Loans and Allowance for Credit Losses - Additional Information (Detail) - R-G Premier Bank [member] - CAD ($) $ in Billions | Jan. 31, 2019 | Oct. 31, 2018 |
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of guarantees net loan losses | 80.00% | |
Loans Acquired Under Guarantee [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying value of loans | $ 1.2 | $ 1.3 |
Loans, Impaired Loans and Al_11
Loans, Impaired Loans and Allowance for Credit Losses - Summary of Purchased Credit Impaired Loans (Detail) - CAD ($) $ in Millions | 3 Months Ended | 12 Months Ended |
Jan. 31, 2019 | Oct. 31, 2018 | |
Disclosure of detailed information about financial instruments [line items] | ||
Stage 3 allowance | $ (5,189) | $ (5,147) |
Stage 3 [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Stage 3 allowance | (1,680) | (1,677) |
Loans acquired in business combination [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Unpaid principal balance | 533 | 548 |
Credit related fair value adjustments | (156) | (168) |
Carrying value | 377 | 380 |
Carrying value net of related allowance | 377 | 380 |
Loans acquired in business combination [member] | Stage 3 [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Stage 3 allowance | $ 0 | $ 0 |
Derecognition of financial as_3
Derecognition of financial assets - Summary of Carrying Amount of Transferred Assets Do Not Qualify for Derecognition and Associated Liabilities (Detail) - Securitisations [member] - CAD ($) $ in Millions | Jan. 31, 2019 | Oct. 31, 2018 |
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | ||
Carrying value of associated liabilities | $ 21,173 | $ 21,459 |
Residential mortgage loans [member] | ||
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | ||
Carrying value of assets | 20,439 | 20,498 |
Other related assets [member] | ||
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | ||
Carrying value of assets | $ 2,963 | $ 2,679 |
Derecognition of financial as_4
Derecognition of financial assets - Summary of Carrying Amount of Transferred Assets Do Not Qualify for Derecognition and Associated Liabilities (Parenthetical) (Detail) - Securitisations [member] - CAD ($) $ in Millions | Jan. 31, 2019 | Oct. 31, 2018 |
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | ||
Fair value of transferred assets | $ 23,755 | $ 23,237 |
Fair value of associated liabilities | 22,560 | 22,468 |
Net position | $ 1,195 | $ 769 |
Derecognition of financial as_5
Derecognition of financial assets - Summary of Carrying Amount of Transferred Other Financial Assets Do Not Qualify for Derecognition and Associated Liabilities (Detail) - Other Financial Assets [member] - CAD ($) $ in Millions | Jan. 31, 2019 | Oct. 31, 2018 |
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | ||
Carrying value of assets | $ 148,007 | $ 132,534 |
Carrying value of associated liabilities | 116,527 | 101,257 |
Repurchase agreement [member] | ||
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | ||
Carrying value of assets | 91,557 | 82,816 |
Securities lending [member] | ||
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | ||
Carrying value of assets | $ 56,450 | $ 49,718 |
Derecognition of financial as_6
Derecognition of financial assets - Summary of Carrying Amount of Transferred Other Financial Assets Do Not Qualify for Derecognition and Associated Liabilities (Parenthetical) (Detail) - Other Financial Assets [member] - CAD ($) $ in Millions | Jan. 31, 2019 | Oct. 31, 2018 |
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | ||
Fair value of transferred assets | $ 148,007 | $ 132,534 |
Fair value of the associated liabilities | 116,527 | 101,257 |
Net position | $ 31,480 | $ 31,277 |
Investments in associates - Sum
Investments in associates - Summary of Significant Investments in Associates (Detail) - CAD ($) $ in Millions | 3 Months Ended | |
Jan. 31, 2019 | Oct. 31, 2018 | |
Thanachart bank public company limited [member] | ||
Disclosure of associates [line items] | ||
Country of incorporation | Thailand | |
Nature of business | Banking | |
Ownership percentage | 49.00% | |
Date of financial statements | Jan. 31, 2019 | |
Carrying value | $ 3,218 | $ 2,961 |
Canadian tires financial services business [member] | ||
Disclosure of associates [line items] | ||
Country of incorporation | Canada | |
Nature of business | Financial Services | |
Ownership percentage | 20.00% | |
Date of financial statements | Dec. 31, 2018 | |
Carrying value | $ 518 | 518 |
Bank of Xian Co Ltd [member] | ||
Disclosure of associates [line items] | ||
Country of incorporation | China | |
Nature of business | Banking | |
Ownership percentage | 19.90% | |
Date of financial statements | Dec. 31, 2018 | |
Carrying value | $ 822 | 772 |
Maduro and curiels bank NV [member] | ||
Disclosure of associates [line items] | ||
Country of incorporation | Curacao | |
Nature of business | Banking | |
Ownership percentage | 48.10% | |
Date of financial statements | Dec. 31, 2018 | |
Carrying value | $ 305 | $ 304 |
Investments in associates - S_2
Investments in associates - Summary of Significant Investments in Associates (Parenthetical) (Detail) - CAD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
Jan. 31, 2019 | Jan. 31, 2018 | Oct. 31, 2018 | |
Disclosure of associates [line items] | |||
Undistributed retained earnings | $ 62 | $ 58 | |
Canadian tires financial services business [member] | |||
Disclosure of associates [line items] | |||
Option to sell maximum additional equity interest within the next 10 years | 29.00% | ||
Period of option to sell back equity interest after ten years | 6 months | ||
Maduro and curiels bank NV [member] | |||
Disclosure of associates [line items] | |||
Undistributed retained earnings | $ 62 | $ 62 |
Deposits - Summary of Deposits
Deposits - Summary of Deposits (Detail) - CAD ($) $ in Millions | Jan. 31, 2019 | Oct. 31, 2018 |
Disclosure Of Deposits [line items] | ||
Payable after notice | $ 160,617 | |
Payable on a fixed date | 389,077 | |
Total | 690,879 | $ 676,534 |
Canada [member] | ||
Disclosure Of Deposits [line items] | ||
Payable after notice | 123,731 | |
Payable on a fixed date | 251,813 | |
Total | 471,509 | 472,798 |
United States [member] | ||
Disclosure Of Deposits [line items] | ||
Payable after notice | 7,758 | |
Payable on a fixed date | 45,766 | |
Total | 70,549 | 59,938 |
United Kingdom [member] | ||
Disclosure Of Deposits [line items] | ||
Payable after notice | 271 | |
Payable on a fixed date | 16,788 | |
Total | 17,059 | 16,847 |
Mexico [member] | ||
Disclosure Of Deposits [line items] | ||
Payable after notice | 6,067 | |
Payable on a fixed date | 12,348 | |
Total | 23,446 | 21,151 |
Peru [member] | ||
Disclosure Of Deposits [line items] | ||
Payable after notice | 4,206 | |
Payable on a fixed date | 7,406 | |
Total | 16,004 | 15,213 |
Chile [member] | ||
Disclosure Of Deposits [line items] | ||
Payable after notice | 153 | |
Payable on a fixed date | 18,780 | |
Total | 25,097 | 24,180 |
Colombia [member] | ||
Disclosure Of Deposits [line items] | ||
Payable after notice | 4,523 | |
Payable on a fixed date | 4,835 | |
Total | 10,194 | 9,543 |
Other International [member] | ||
Disclosure Of Deposits [line items] | ||
Payable after notice | 13,908 | |
Payable on a fixed date | 31,341 | |
Total | 57,021 | 56,864 |
Personal [member] | ||
Disclosure Of Deposits [line items] | ||
Payable after notice | 125,874 | |
Payable on a fixed date | 80,537 | |
Total | 221,921 | 214,545 |
Business and government [member] | ||
Disclosure Of Deposits [line items] | ||
Payable after notice | 33,137 | |
Payable on a fixed date | 282,354 | |
Total | 434,749 | 422,002 |
Financial institution [member] | ||
Disclosure Of Deposits [line items] | ||
Payable after notice | 1,606 | |
Payable on a fixed date | 26,186 | |
Total | 34,209 | $ 39,987 |
Interest bearing [member] | ||
Disclosure Of Deposits [line items] | ||
Payable on demand | 107,679 | |
Interest bearing [member] | Canada [member] | ||
Disclosure Of Deposits [line items] | ||
Payable on demand | 79,453 | |
Interest bearing [member] | United States [member] | ||
Disclosure Of Deposits [line items] | ||
Payable on demand | 16,895 | |
Interest bearing [member] | Mexico [member] | ||
Disclosure Of Deposits [line items] | ||
Payable on demand | 11 | |
Interest bearing [member] | Peru [member] | ||
Disclosure Of Deposits [line items] | ||
Payable on demand | 4,257 | |
Interest bearing [member] | Chile [member] | ||
Disclosure Of Deposits [line items] | ||
Payable on demand | 2,864 | |
Interest bearing [member] | Colombia [member] | ||
Disclosure Of Deposits [line items] | ||
Payable on demand | 40 | |
Interest bearing [member] | Other International [member] | ||
Disclosure Of Deposits [line items] | ||
Payable on demand | 4,159 | |
Interest bearing [member] | Personal [member] | ||
Disclosure Of Deposits [line items] | ||
Payable on demand | 7,163 | |
Interest bearing [member] | Business and government [member] | ||
Disclosure Of Deposits [line items] | ||
Payable on demand | 94,594 | |
Interest bearing [member] | Financial institution [member] | ||
Disclosure Of Deposits [line items] | ||
Payable on demand | 5,922 | |
Non- interest bearing [member] | ||
Disclosure Of Deposits [line items] | ||
Payable on demand | 33,506 | |
Non- interest bearing [member] | Canada [member] | ||
Disclosure Of Deposits [line items] | ||
Payable on demand | 16,512 | |
Non- interest bearing [member] | United States [member] | ||
Disclosure Of Deposits [line items] | ||
Payable on demand | 130 | |
Non- interest bearing [member] | Mexico [member] | ||
Disclosure Of Deposits [line items] | ||
Payable on demand | 5,020 | |
Non- interest bearing [member] | Peru [member] | ||
Disclosure Of Deposits [line items] | ||
Payable on demand | 135 | |
Non- interest bearing [member] | Chile [member] | ||
Disclosure Of Deposits [line items] | ||
Payable on demand | 3,300 | |
Non- interest bearing [member] | Colombia [member] | ||
Disclosure Of Deposits [line items] | ||
Payable on demand | 796 | |
Non- interest bearing [member] | Other International [member] | ||
Disclosure Of Deposits [line items] | ||
Payable on demand | 7,613 | |
Non- interest bearing [member] | Personal [member] | ||
Disclosure Of Deposits [line items] | ||
Payable on demand | 8,347 | |
Non- interest bearing [member] | Business and government [member] | ||
Disclosure Of Deposits [line items] | ||
Payable on demand | 24,664 | |
Non- interest bearing [member] | Financial institution [member] | ||
Disclosure Of Deposits [line items] | ||
Payable on demand | $ 495 |
Deposits - Summary of Deposit_2
Deposits - Summary of Deposits (Parenthetical) (Detail) - CAD ($) $ in Millions | Jan. 31, 2019 | Oct. 31, 2018 |
Disclosure Of Deposits [line items] | ||
Deposits | $ 160,617 | |
Deposits | 690,879 | $ 676,534 |
U.S. dollar [member] | ||
Disclosure Of Deposits [line items] | ||
Deposits | 224,829 | 219,195 |
Chile, Pesos | ||
Disclosure Of Deposits [line items] | ||
Deposits | 23,141 | 22,731 |
Mexico, Pesos [member] | ||
Disclosure Of Deposits [line items] | ||
Deposits | 20,240 | 18,341 |
Other Foreign Currencies [member] | ||
Disclosure Of Deposits [line items] | ||
Deposits | 84,400 | 79,582 |
Non interest bearing deposits [member] | ||
Disclosure Of Deposits [line items] | ||
Deposits | $ 128 | $ 141 |
Deposits - Summary of Maturity
Deposits - Summary of Maturity Schedule for Term Deposits (Detail) - Canada [member] - CAD ($) $ in Millions | Jan. 31, 2019 | Oct. 31, 2018 |
Disclosure Of Deposits [line items] | ||
Term deposit | $ 212,774 | $ 223,019 |
Within three months [member] | ||
Disclosure Of Deposits [line items] | ||
Term deposit | 41,841 | 36,670 |
Three to six months [member] | ||
Disclosure Of Deposits [line items] | ||
Term deposit | 24,422 | 23,913 |
Six to twelve months [member] | ||
Disclosure Of Deposits [line items] | ||
Term deposit | 35,521 | 42,830 |
One to 5 years [member] | ||
Disclosure Of Deposits [line items] | ||
Term deposit | 96,448 | 99,734 |
Over 5 years [member] | ||
Disclosure Of Deposits [line items] | ||
Term deposit | $ 14,542 | $ 19,872 |
Capital and Financing Transac_2
Capital and Financing Transactions - Additional Information (Detail) - CAD ($) $ in Millions | Jan. 28, 2019 | Jan. 11, 2019 | May 29, 2018 | Jan. 31, 2019 |
Non-cumulative preferred shares series 22 [member] | ||||
Disclosure of objectives, policies and processes for managing capital [line items] | ||||
Outstanding preferred shares redeemed at par value | $ 234 | |||
Non-cumulative preferred shares series 23 [member] | ||||
Disclosure of objectives, policies and processes for managing capital [line items] | ||||
Outstanding preferred shares redeemed at par value | $ 66 | |||
Subordinated debentures non viability contingent capital [member] | ||||
Disclosure of objectives, policies and processes for managing capital [line items] | ||||
Subordinated debentures issued or issuable | $ 1,750 | |||
Percentage offering of subordinated debentures | 3.89% | |||
Subordinated debentures maturity date | Jan. 18, 2029 | |||
Debentures quarterly coupon at rate | 1.58% | |||
Description of Borrowing | Interest will be payable semi-annually at a rate of 3.89% per annum until January 18, 2024 and thereafter payable quarterly until January 18, 2029 at the 90 day Bankers' Acceptance rate plus 1.58%. | |||
Common shares [member] | ||||
Disclosure of objectives, policies and processes for managing capital [line items] | ||||
Shares repurchased and cancelled, shares | 3,250,000 | |||
Shares repurchased and cancelled, per share | 71.93 | |||
Shares repurchased and cancelled, per share | $ 234 | |||
NCIB [member] | ||||
Disclosure of objectives, policies and processes for managing capital [line items] | ||||
Maximum number of shares approved for repurchase | 24,000,000 | |||
Shares repurchased and cancelled, shares | 9,230,000 | |||
Shares repurchased and cancelled, per share | 74.46 |
Capital Management - Summary of
Capital Management - Summary of Regulatory Capital and Leverage Position (Detail) - CAD ($) $ in Millions | Jan. 31, 2019 | Oct. 31, 2018 |
Capital | ||
Common Equity Tier 1 capital | $ 45,344 | $ 44,443 |
Net Tier 1 capital | 50,869 | 50,187 |
Total regulatory capital | 59,796 | 57,364 |
Risk-weighted assets/exposures used in calculation of capital ratios | ||
CET1 risk-weighted assets | 408,565 | 400,507 |
Tier 1 risk-weighted assets | 408,565 | 400,680 |
Total risk-weighted assets | 408,565 | 400,853 |
Leverage exposures | $ 1,167,691 | $ 1,119,099 |
Capital ratios | ||
Common Equity Tier 1 capital ratio | 11.10% | 11.10% |
Tier 1 capital ratio | 12.50% | 12.50% |
Total capital ratio | 14.60% | 14.30% |
Leverage ratio | 4.40% | 4.50% |
Capital Management - Summary _2
Capital Management - Summary of Regulatory Capital and Leverage Position (Parenthetical) (Detail) - CAD ($) | Jan. 31, 2019 | Oct. 31, 2018 |
Disclosure of regulatory capital and capital ratios [line items] | ||
Common Equity Tier 1 Capital percentage | 11.10% | 11.10% |
Tier 1 percentage | 12.50% | 12.50% |
Common Equity Tier 1 Capital Basel I floor adjustment | $ 0 | $ 0 |
Tier 1 Capital Basel I floor adjustment | 0 | 0 |
Regulatory capital Basel I floor adjustment | $ 0 | $ 0 |
Credit valuation adjustment [member] | ||
Disclosure of regulatory capital and capital ratios [line items] | ||
Common Equity Tier 1 Capital percentage | 0.80% | |
Tier 1 percentage | 0.83% | |
Risk-weighted assets total capital percentage | 0.86% |
Share-based Payment - Additiona
Share-based Payment - Additional Information (Detail) - Employee stock options [member] | 3 Months Ended | |
Jan. 31, 2019CAD ($)yr | Jan. 31, 2018CAD ($) | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Number of share options, Granted | 1,548,832 | |
Exercise price of options granted | $ 72.28 | |
Weighted average grant date fair value of options granted | 5.01 | |
Increase to equity | $ 4,000,000 | $ 4,000,000 |
Vesting Period Of Three Years [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Stock options vesting percentage | 50.00% | |
Vesting Period Of Four Years [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Stock options vesting percentage | 50.00% | |
Options granted prior to December 2014 [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Expected life of stock options (years) | yr | 4 |
Employee benefits - Summary of
Employee benefits - Summary of Expenses for Bank's Principal Plans (Detail) - CAD ($) $ in Millions | 3 Months Ended | ||
Jan. 31, 2019 | Oct. 31, 2018 | Jan. 31, 2018 | |
Disclosure of net defined benefit liability (asset) [line items] | |||
Increase (Decrease) in other comprehensive income related to employee benefits | $ (460) | $ 129 | $ 84 |
Pension plans [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit service cost | 76 | 79 | |
Interest on net defined benefit (asset) liability | (2) | ||
Other | 4 | 3 | |
Defined benefit expense | 78 | 82 | |
Defined contribution expense | 14 | 10 | |
Increase (Decrease) in other comprehensive income related to employee benefits | (395) | 50 | |
Other benefit plans [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit service cost | 7 | (193) | |
Interest on net defined benefit (asset) liability | 13 | 13 | |
Other | 1 | (2) | |
Defined benefit expense | 21 | (182) | |
Increase (Decrease) in other comprehensive income related to employee benefits | $ (65) | $ 34 |
Employee benefits - Summary o_2
Employee benefits - Summary of Expenses for Bank's Principal Plans (Parenthetical) (Detail) $ in Millions | 3 Months Ended |
Jan. 31, 2018CAD ($) | |
Changes in net defined benefit liability (asset) [abstract] | |
Defined benefit plan, modification | $ 203 |
Operating Segments - Additional
Operating Segments - Additional Information (Detail) | 3 Months Ended |
Jan. 31, 2019 | |
Disclosure of operating segments [abstract] | |
Description of reportable segments | Scotiabank is a diversified financial services institution that provides a wide range of financial products and services to retail, commercial and corporate customers around the world. The Bank’s businesses are grouped into three business lines: Canadian Banking, International Banking and Global Banking and Markets. The results of these business segments are based upon the internal financial reporting systems of the Bank. |
Operating Segments - Schedule o
Operating Segments - Schedule of Operating Segments (Detail) - CAD ($) $ in Millions | 3 Months Ended | |||
Jan. 31, 2019 | Oct. 31, 2018 | Jan. 31, 2018 | ||
Disclosure of operating segments [line items] | ||||
Net interest income | $ 4,274 | [1] | $ 4,220 | $ 3,936 |
Non-interest income | 3,330 | 3,228 | 3,152 | |
Total revenue | 7,604 | [1] | 7,448 | 7,088 |
Provision for credit losses | 688 | 590 | 544 | |
Non-interest expenses | 4,171 | [1] | 4,064 | 3,498 |
Provision for income taxes | 498 | [1] | 523 | 709 |
Net income | 2,247 | [1] | 2,271 | 2,337 |
Net income attributable to non-controlling interests in subsidiaries | 111 | [1] | 92 | 58 |
Net income attributable to equity holders of the Bank | 2,136 | [1] | 2,179 | 2,279 |
Average assets | 1,033,000 | 971,000 | 934,000 | |
Average liabilities | 964,000 | 904,000 | 873,000 | |
Operating segments [member] | Canadian banking [member] | ||||
Disclosure of operating segments [line items] | ||||
Net interest income | 2,036 | 2,029 | 1,939 | |
Non-interest income | 1,379 | 1,414 | 1,364 | |
Total revenue | 3,415 | 3,443 | 3,303 | |
Provision for credit losses | 233 | 198 | 210 | |
Non-interest expenses | 1,730 | 1,747 | 1,605 | |
Provision for income taxes | 379 | 383 | 386 | |
Net income | 1,073 | 1,115 | 1,102 | |
Net income attributable to equity holders of the Bank | 1,073 | 1,115 | 1,102 | |
Average assets | 356,000 | 349,000 | 335,000 | |
Average liabilities | 274,000 | 263,000 | 248,000 | |
Operating segments [member] | International banking [member] | ||||
Disclosure of operating segments [line items] | ||||
Net interest income | 2,080 | 2,030 | 1,707 | |
Non-interest income | 1,251 | 1,104 | 997 | |
Total revenue | 3,331 | 3,134 | 2,704 | |
Provision for credit losses | 470 | 412 | 344 | |
Non-interest expenses | 1,742 | 1,721 | 1,442 | |
Provision for income taxes | 226 | 197 | 193 | |
Net income | 893 | 804 | 725 | |
Net income attributable to non-controlling interests in subsidiaries | 111 | 92 | 58 | |
Net income attributable to equity holders of the Bank | 782 | 712 | 667 | |
Average assets | 197,000 | 193,000 | 153,000 | |
Average liabilities | 154,000 | 153,000 | 117,000 | |
Operating segments [member] | Global banking and markets [member] | ||||
Disclosure of operating segments [line items] | ||||
Net interest income | 372 | 337 | 390 | |
Non-interest income | 703 | 736 | 800 | |
Total revenue | 1,075 | 1,073 | 1,190 | |
Provision for credit losses | (16) | (20) | (9) | |
Non-interest expenses | 645 | 553 | 572 | |
Provision for income taxes | 111 | 124 | 173 | |
Net income | 335 | 416 | 454 | |
Net income attributable to equity holders of the Bank | 335 | 416 | 454 | |
Average assets | 364,000 | 318,000 | 334,000 | |
Average liabilities | 297,000 | 259,000 | 274,000 | |
Elimination of intersegment amounts [member] | Other smaller operating segments and corporate adjustments [member] | ||||
Disclosure of operating segments [line items] | ||||
Net interest income | (214) | (176) | (100) | |
Non-interest income | (3) | (26) | (9) | |
Total revenue | (217) | (202) | (109) | |
Provision for credit losses | 1 | (1) | ||
Non-interest expenses | 54 | 43 | (121) | |
Provision for income taxes | (218) | (181) | (43) | |
Net income | (54) | (64) | 56 | |
Net income attributable to equity holders of the Bank | (54) | (64) | 56 | |
Average assets | 116,000 | 111,000 | 112,000 | |
Average liabilities | $ 239,000 | $ 229,000 | $ 234,000 | |
[1] | The amounts for the period ended January 31, 2019, have been prepared in accordance with IFRS 15; prior period amounts have not been restated (refer to Notes 3 and 4). |
Operating Segments - Schedule_2
Operating Segments - Schedule of Operating Segments (Parenthetical) (Detail) - CAD ($) $ in Millions | 3 Months Ended | ||
Jan. 31, 2019 | Oct. 31, 2018 | Jan. 31, 2018 | |
Canadian banking [member] | |||
Disclosure of operating segments [line items] | |||
Net income from investments in associated corporations | $ 13 | $ 23 | $ 15 |
International banking [member] | |||
Disclosure of operating segments [line items] | |||
Net income from investments in associated corporations | 161 | 201 | 133 |
Other smaller operating segments and corporate adjustments [member] | |||
Disclosure of operating segments [line items] | |||
Tax-exempt income | 34 | 31 | 26 |
Net income from investments in associated corporations | $ (45) | $ (55) | $ (38) |
Interest Income and Expense - D
Interest Income and Expense - Details of Interest Income from Financial Assets (Detail) - CAD ($) $ in Millions | 3 Months Ended | ||||
Jan. 31, 2019 | Oct. 31, 2018 | Jan. 31, 2018 | |||
Revenue [abstract] | |||||
Loans at amortized cost | [1] | $ 7,091 | [2] | $ 6,877 | $ 5,803 |
Amortized cost | 95 | 82 | 90 | ||
FVOCI | 353 | 310 | 274 | ||
Other | 68 | 96 | 35 | ||
Securities purchased under resale agreements and securities borrowed not at FVTPL | [1] | 130 | [2] | 129 | 98 |
Deposits with financial institutions | [1] | 254 | [2] | 226 | 181 |
Interest income | [1] | $ 7,991 | [2] | $ 7,720 | $ 6,481 |
[1] | Includes interest income on financial assets measured at amortized cost and FVOCI, calculated using the effective interest method, of $7,923 for the quarter ended January 31, 2019 (October 31, 2018 - $7,624; January 31, 2018 - $6,446). | ||||
[2] | The amounts for the period ended January 31, 2019, have been prepared in accordance with IFRS 15; prior period amounts have not been restated (refer to Notes 3 and 4). |
Interest Income and Expense -_2
Interest Income and Expense - Details of Interest Expense from Financial Liabilities (Detail) - CAD ($) $ in Millions | 3 Months Ended | |||
Jan. 31, 2019 | Oct. 31, 2018 | Jan. 31, 2018 | ||
Disclosure Of Interest Expense [Line items] | ||||
Subordinated debentures | $ 61 | [1] | $ 55 | $ 52 |
Interest expense | 3,717 | [1] | 3,500 | 2,545 |
Deposits [member] | ||||
Disclosure Of Interest Expense [Line items] | ||||
Amortized cost | 3,335 | 3,042 | 2,246 | |
FVTPL | 21 | 10 | ||
Other liabilities [member] | ||||
Disclosure Of Interest Expense [Line items] | ||||
Amortized cost | 315 | 371 | 233 | |
FVTPL | $ 6 | $ 11 | $ 4 | |
[1] | The amounts for the period ended January 31, 2019, have been prepared in accordance with IFRS 15; prior period amounts have not been restated (refer to Notes 3 and 4). |
Trading Revenues - Summary of T
Trading Revenues - Summary of Trading Revenues (Detail) - CAD ($) $ in Millions | 3 Months Ended | |||
Jan. 31, 2019 | Oct. 31, 2018 | Jan. 31, 2018 | ||
Trading income (expense) [abstract] | ||||
Interest rate and credit | $ 7 | $ 40 | $ 100 | |
Equities | 123 | 131 | 95 | |
Commodities | 68 | 46 | 72 | |
Foreign exchange | 84 | 72 | 83 | |
Other | 47 | 81 | 37 | |
Total | $ 329 | [1] | $ 370 | $ 387 |
[1] | The amounts for the period ended January 31, 2019, have been prepared in accordance with IFRS 15; prior period amounts have not been restated (refer to Notes 3 and 4). |
Earnings Per Share - Summary of
Earnings Per Share - Summary of Earnings Per Share (Detail) - CAD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | |||
Jan. 31, 2019 | Oct. 31, 2018 | Jan. 31, 2018 | ||
Basic earnings per common share | ||||
Net income attributable to common shareholders | $ 2,107 | [1] | $ 2,114 | $ 2,249 |
Weighted average number of common shares outstanding | 1,226 | 1,230 | 1,199 | |
Basic earnings per common share | $ 1.72 | [1] | $ 1.72 | $ 1.88 |
Diluted earnings per common share | ||||
Net income attributable to common shareholders | $ 2,107 | [1] | $ 2,114 | $ 2,249 |
Dilutive impact of share-based payment options and others | 41 | 20 | 13 | |
Net income attributable to common shareholders (diluted) | $ 2,148 | $ 2,134 | $ 2,262 | |
Weighted average number of common shares outstanding | 1,226 | 1,230 | 1,199 | |
Dilutive impact of share-based payment options and others | 29 | 16 | 16 | |
Weighted average number of diluted common shares outstanding | 1,255 | 1,246 | 1,215 | |
Diluted earnings per common share | $ 1.71 | [1] | $ 1.71 | $ 1.86 |
[1] | The amounts for the period ended January 31, 2019, have been prepared in accordance with IFRS 15; prior period amounts have not been restated (refer to Notes 3 and 4). |
Financial Instruments - Summary
Financial Instruments - Summary of Credit Risk Exposures (Detail) - CAD ($) $ in Millions | Jan. 31, 2019 | Oct. 31, 2018 |
Disclosure of detailed information about financial instruments [line items] | ||
Total | $ 955,325 | $ 949,234 |
Non retail [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Drawn | 422,234 | 425,009 |
Undrawn commitments | 94,532 | 92,303 |
Other exposures | 104,160 | 105,232 |
Total | 620,926 | 622,544 |
Retail [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Drawn | 286,670 | 278,605 |
Undrawn commitments | 47,729 | 48,085 |
Total | 334,399 | 326,690 |
AIRB portfolio [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | 781,659 | |
AIRB portfolio [member] | Non retail [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Drawn | 356,655 | |
Undrawn commitments | 89,393 | |
Other exposures | 92,862 | |
Total | 538,910 | |
AIRB portfolio [member] | Retail [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Drawn | 195,020 | |
Undrawn commitments | 47,729 | |
Total | 242,749 | |
Standardized portfolio [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | 173,666 | |
Standardized portfolio [member] | Non retail [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Drawn | 65,579 | |
Undrawn commitments | 5,139 | |
Other exposures | 11,298 | |
Total | 82,016 | |
Standardized portfolio [member] | Retail [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Drawn | 91,650 | |
Total | $ 91,650 | $ 87,000 |
Financial Instruments - Additio
Financial Instruments - Additional Information (Detail) - CAD ($) | 3 Months Ended | ||
Jan. 31, 2019 | Oct. 31, 2018 | Jan. 31, 2018 | |
Disclosure of detailed information about financial instruments [line items] | |||
Credit risk exposure default amount | $ 955,325,000,000 | $ 949,234,000,000 | |
Decreases (increases) in the Bank's before-tax annual earnings | 66,000,000 | 65,000,000 | $ 59,000,000 |
The unrealized foreign currency translation gains | 391,000,000 | 384,000,000 | $ 334,000,000 |
Derivative asset transferred into Level 3 | 0 | 0 | |
Derivative asset transferred out of Level 3 | 0 | 0 | |
Derivative liabilities transferred out of Level 3 | 0 | 0 | |
Derivative liabilities transferred into Level 3 | 0 | 0 | |
AIRB portfolio [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Credit risk exposure default amount | 781,659,000,000 | ||
Standardized portfolio [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Credit risk exposure default amount | 173,666,000,000 | ||
Retail [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Credit risk exposure default amount | $ 334,399,000,000 | $ 326,690,000,000 | |
Retail [member] | AIRB portfolio [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Percentage of residential mortgage portfolio insured | 42.00% | 43.00% | |
Percentage of residential mortgage portfolio uninsured to average loan value | 55.00% | 54.00% | |
Credit risk exposure default amount | $ 242,749,000,000 | ||
Retail [member] | Standardized portfolio [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Credit risk exposure default amount | 91,650,000,000 | $ 87,000,000,000 | |
Retail [member] | Standardized portfolio [member] | Real estate secured [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Credit risk exposure default amount | $ 48,000,000,000 | $ 45,000,000,000 | |
Retail [member] | Top of range [member] | Standardized portfolio [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Secured mortgage loans to value ratio | 80.00% |
Financial Instruments - VaR by
Financial Instruments - VaR by Risk Factor (Detail) - CAD ($) $ in Millions | Jan. 31, 2019 | Oct. 31, 2018 | Jan. 31, 2018 |
Credit risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | $ 9.8 | $ 11 | $ 14.4 |
Credit spread [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 6.1 | 6.2 | 9 |
Interest rate risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 7 | 7.7 | 11.5 |
Equity price risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 4.2 | 5.8 | 2.4 |
Currency risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 2.5 | 2.8 | 2.7 |
Commodity price risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 2.5 | 1.7 | 1.9 |
Debt specific risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 4.3 | 3.6 | 2.9 |
Risk diversification effect [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | (12.3) | (11.7) | (10.1) |
Bank risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 11 | 13.2 | 14.2 |
Bank stressed risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 34.7 | $ 44.6 | $ 55.6 |
Weighted average [member] | Credit risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 11.3 | ||
Weighted average [member] | Credit spread [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 6.8 | ||
Weighted average [member] | Interest rate risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 8.4 | ||
Weighted average [member] | Equity price risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 4 | ||
Weighted average [member] | Currency risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 2.3 | ||
Weighted average [member] | Commodity price risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 2 | ||
Weighted average [member] | Debt specific risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 4.4 | ||
Weighted average [member] | Risk diversification effect [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | (11.4) | ||
Weighted average [member] | Bank risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 12.6 | ||
Weighted average [member] | Bank stressed risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 45.3 | ||
Top of range [member] | Credit risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 15.2 | ||
Top of range [member] | Credit spread [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 9.8 | ||
Top of range [member] | Interest rate risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 12.6 | ||
Top of range [member] | Equity price risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 8.1 | ||
Top of range [member] | Currency risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 3.2 | ||
Top of range [member] | Commodity price risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 4.7 | ||
Top of range [member] | Debt specific risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 5.9 | ||
Top of range [member] | Bank risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 16.2 | ||
Top of range [member] | Bank stressed risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 58.9 | ||
Bottom of range [member] | Credit risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 8.2 | ||
Bottom of range [member] | Credit spread [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 3.8 | ||
Bottom of range [member] | Interest rate risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 6.4 | ||
Bottom of range [member] | Equity price risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 2.1 | ||
Bottom of range [member] | Currency risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 1.5 | ||
Bottom of range [member] | Commodity price risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 1.4 | ||
Bottom of range [member] | Debt specific risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 3.2 | ||
Bottom of range [member] | Bank risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 10.3 | ||
Bottom of range [member] | Bank stressed risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | $ 31 |
Financial Instruments - Fair Va
Financial Instruments - Fair Value of Financial Assets and Liabilities Designated at Fair Value Through Profit or Loss and Changes in Fair Value (Detail) - CAD ($) $ in Millions | 3 Months Ended | |||
Jan. 31, 2019 | Oct. 31, 2018 | Jan. 31, 2018 | Oct. 31, 2019 | |
Disclosure of detailed information about financial instruments [line items] | ||||
Fair value | $ 14 | $ 12 | ||
Investment securities [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Fair value | 14 | 12 | ||
Change in Fair value | 0 | |||
Cumulative change in FV | 0 | $ 0 | $ 0 | |
Senior note liabilities [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Fair value | 9,907 | 8,188 | 5,045 | |
Change in Fair value | (176) | 684 | 59 | |
Cumulative change in FV | $ 602 | $ 778 | $ (32) |
Financial Instruments - Changes
Financial Instruments - Changes in Fair Value Attributable to Changes in Bank'S Own Credit Risk for Financial Liabilities Designated at Fair Value (Detail) - Senior note liabilities [member] - CAD ($) $ in Millions | 3 Months Ended | ||
Jan. 31, 2019 | Oct. 31, 2018 | Jan. 31, 2018 | |
Disclosure of detailed information about financial instruments [line items] | |||
Contractual maturity amount | $ 10,509 | $ 8,966 | $ 5,013 |
Carrying value | 9,907 | 8,188 | 5,045 |
Difference between carrying value and contractual maturity amount | 602 | 778 | (32) |
Changes in fair value for the period attributable to changes in own credit risk recorded in other comprehensive income | 30 | (46) | (7) |
Cumulative changes in fair value attributable to changes in own credit risk | $ (36) | $ (66) | $ (43) |
Financial Instruments - Summa_2
Financial Instruments - Summary of Fair Values of Financial Instruments of Bank Using Valuation Methods and Assumption (Detail) - CAD ($) $ in Millions | Jan. 31, 2019 | Oct. 31, 2018 |
Assets: | ||
Cash and deposits with financial institutions | $ 52,942 | $ 62,269 |
Trading assets | 106,956 | 100,262 |
Financial instruments designated at fair value through profit or loss | 14 | 12 |
Securities purchased under resale agreements and securities borrowed | 127,959 | 104,018 |
Derivative financial instruments | 32,161 | 37,558 |
Customers' liability under acceptances | 18,737 | 16,329 |
Liabilities: | ||
Deposits | 690,879 | 676,534 |
Financial instruments designated at fair value through profit or loss | 9,907 | 8,188 |
Acceptances | 18,746 | 16,338 |
Obligations related to securities sold short | 31,621 | 32,087 |
Derivative financial instruments | 35,970 | 37,967 |
Obligations related to securities sold under repurchase agreements and securities lent | 116,527 | 101,257 |
Subordinated debentures | 7,492 | 5,698 |
Gross carrying amount [member] | ||
Assets: | ||
Cash and deposits with financial institutions | 52,942 | 62,269 |
Trading assets | 106,956 | 100,262 |
Financial instruments designated at fair value through profit or loss | 14 | 12 |
Securities purchased under resale agreements and securities borrowed | 127,959 | 104,018 |
Derivative financial instruments | 32,161 | 37,558 |
Investment securities - other | 57,335 | 57,653 |
Investment securities - amortized cost | 20,651 | 20,743 |
Loans | 566,105 | 551,834 |
Customers' liability under acceptances | 18,737 | 16,329 |
Other financial assets | 13,079 | 10,913 |
Liabilities: | ||
Deposits | 690,879 | 676,534 |
Financial instruments designated at fair value through profit or loss | 9,907 | 8,188 |
Acceptances | 18,746 | 16,338 |
Obligations related to securities sold short | 31,621 | 32,087 |
Derivative financial instruments | 35,970 | 37,967 |
Obligations related to securities sold under repurchase agreements and securities lent | 116,527 | 101,257 |
Subordinated debentures | 7,492 | 5,698 |
Other financial liabilities | 36,231 | 34,805 |
At fair value [member] | ||
Assets: | ||
Cash and deposits with financial institutions | 52,942 | 62,269 |
Trading assets | 106,956 | 100,262 |
Financial instruments designated at fair value through profit or loss | 14 | 12 |
Securities purchased under resale agreements and securities borrowed | 127,959 | 104,018 |
Derivative financial instruments | 32,161 | 37,558 |
Investment securities - other | 57,335 | 57,653 |
Investment securities - amortized cost | 20,459 | 20,316 |
Loans | 568,656 | 553,758 |
Customers' liability under acceptances | 18,737 | 16,329 |
Other financial assets | 13,079 | 10,913 |
Liabilities: | ||
Deposits | 690,101 | 674,535 |
Financial instruments designated at fair value through profit or loss | 9,907 | 8,188 |
Acceptances | 18,746 | 16,338 |
Obligations related to securities sold short | 31,621 | 32,087 |
Derivative financial instruments | 35,970 | 37,967 |
Obligations related to securities sold under repurchase agreements and securities lent | 116,527 | 101,257 |
Subordinated debentures | 7,593 | 5,267 |
Other financial liabilities | $ 36,446 | $ 35,432 |
Financial Instruments - Summa_3
Financial Instruments - Summary of Fair Value Hierarchy of Instruments Carried at Fair Value on a Recurring Basis (Detail) - CAD ($) $ in Millions | Jan. 31, 2019 | Oct. 31, 2018 |
Assets: | ||
Precious metals | $ 3,622 | $ 3,191 |
Trading assets | ||
Loans | 13,161 | 14,334 |
Securities | 93,047 | 85,474 |
Other | 748 | 454 |
Derivative financial instruments | ||
Derivative Financial Assets | 32,161 | 37,558 |
Liabilities: | ||
Deposits | 690,879 | 676,534 |
Financial liabilities designated at fair value through profit or loss | 9,907 | 8,188 |
Obligations related to securities sold short | 31,621 | 32,087 |
Derivative financial instruments | ||
Derivative Financial Liabilities | 35,970 | 37,967 |
Recurring fair value measurement [member] | ||
Assets: | ||
Precious metals | 3,622 | 3,191 |
Trading assets | ||
Assets | 110,578 | 103,453 |
Financial assets designated at fair value through profit or loss | 14 | 12 |
Investment securities | ||
Investment securities | 57,335 | 57,653 |
Derivative financial instruments | ||
Derivative Financial Assets | 32,161 | 37,558 |
Liabilities: | ||
Deposits | (205) | (401) |
Financial liabilities designated at fair value through profit or loss | 9,907 | 8,188 |
Obligations related to securities sold short | 31,621 | 32,087 |
Derivative financial instruments | ||
Derivative Financial Liabilities | 35,970 | 37,967 |
Recurring fair value measurement [member] | Interest rate contracts [member] | ||
Derivative financial instruments | ||
Derivative Financial Liabilities | 10,793 | 11,086 |
Recurring fair value measurement [member] | Foreign exchange and gold contracts [member] | ||
Derivative financial instruments | ||
Derivative Financial Liabilities | 18,189 | 20,537 |
Recurring fair value measurement [member] | Equity contracts [member] | ||
Derivative financial instruments | ||
Derivative Financial Liabilities | 3,686 | 2,946 |
Recurring fair value measurement [member] | Credit contracts [member] | ||
Derivative financial instruments | ||
Derivative Financial Liabilities | 58 | 70 |
Recurring fair value measurement [member] | Commodity Contracts [member] | ||
Derivative financial instruments | ||
Derivative Financial Liabilities | 3,244 | 3,328 |
Recurring fair value measurement [member] | Trading loans [member] | ||
Trading assets | ||
Loans | 13,161 | 14,334 |
Recurring fair value measurement [member] | Canadian federal government and government guaranteed debt [member] | ||
Trading assets | ||
Securities | 14,340 | 13,003 |
Investment securities | ||
Investment securities | 7,832 | 8,891 |
Recurring fair value measurement [member] | Canadian provincial and municipal debt [member] | ||
Trading assets | ||
Securities | 10,043 | 10,159 |
Investment securities | ||
Investment securities | 3,528 | 4,352 |
Recurring fair value measurement [member] | U.S. treasury and other U.S. agency debt [member] | ||
Trading assets | ||
Securities | 9,070 | 7,164 |
Investment securities | ||
Investment securities | 20,691 | 19,141 |
Recurring fair value measurement [member] | Other foreign governments debt [member] | ||
Trading assets | ||
Securities | 5,229 | 6,443 |
Investment securities | ||
Investment securities | 19,688 | 19,990 |
Recurring fair value measurement [member] | Corporate and other debt [member] | ||
Trading assets | ||
Securities | 9,574 | 9,005 |
Investment securities | ||
Investment securities | 2,191 | 2,563 |
Recurring fair value measurement [member] | Income funds [member] | ||
Trading assets | ||
Securities | 31 | 29 |
Recurring fair value measurement [member] | Equity securities [member] | ||
Trading assets | ||
Securities | 44,760 | 39,671 |
Recurring fair value measurement [member] | Other trading assets [member] | ||
Trading assets | ||
Other | 748 | 454 |
Recurring fair value measurement [member] | Mortgage backed securities [member] | ||
Investment securities | ||
Investment securities | 1,600 | 906 |
Recurring fair value measurement [member] | Equity securities [member] | ||
Investment securities | ||
Investment securities | 1,805 | 1,810 |
Recurring fair value measurement [member] | Interest rate contracts [member] | ||
Derivative financial instruments | ||
Derivative Financial Assets | 9,980 | 9,039 |
Recurring fair value measurement [member] | Foreign exchange and gold contracts [member] | ||
Derivative financial instruments | ||
Derivative Financial Assets | 18,771 | 22,202 |
Recurring fair value measurement [member] | Equity contracts [member] | ||
Derivative financial instruments | ||
Derivative Financial Assets | 801 | 2,361 |
Recurring fair value measurement [member] | Credit contracts [member] | ||
Derivative financial instruments | ||
Derivative Financial Assets | 307 | 349 |
Recurring fair value measurement [member] | Commodity Contracts [member] | ||
Derivative financial instruments | ||
Derivative Financial Assets | 2,302 | 3,607 |
Level 1 [member] | Recurring fair value measurement [member] | ||
Trading assets | ||
Assets | 69,921 | 64,776 |
Financial assets designated at fair value through profit or loss | 14 | 12 |
Investment securities | ||
Investment securities | 36,531 | 37,238 |
Derivative financial instruments | ||
Derivative Financial Assets | 646 | 894 |
Liabilities: | ||
Obligations related to securities sold short | 26,434 | 24,563 |
Derivative financial instruments | ||
Derivative Financial Liabilities | 996 | 1,091 |
Level 1 [member] | Recurring fair value measurement [member] | Foreign exchange and gold contracts [member] | ||
Derivative financial instruments | ||
Derivative Financial Liabilities | 3 | |
Level 1 [member] | Recurring fair value measurement [member] | Equity contracts [member] | ||
Derivative financial instruments | ||
Derivative Financial Liabilities | 967 | 1,057 |
Level 1 [member] | Recurring fair value measurement [member] | Commodity Contracts [member] | ||
Derivative financial instruments | ||
Derivative Financial Liabilities | 26 | 34 |
Level 1 [member] | Recurring fair value measurement [member] | Canadian federal government and government guaranteed debt [member] | ||
Trading assets | ||
Securities | 12,497 | 13,003 |
Investment securities | ||
Investment securities | 5,186 | 6,373 |
Level 1 [member] | Recurring fair value measurement [member] | Canadian provincial and municipal debt [member] | ||
Investment securities | ||
Investment securities | 237 | 366 |
Level 1 [member] | Recurring fair value measurement [member] | U.S. treasury and other U.S. agency debt [member] | ||
Trading assets | ||
Securities | 9,070 | 7,164 |
Investment securities | ||
Investment securities | 20,218 | 18,472 |
Level 1 [member] | Recurring fair value measurement [member] | Other foreign governments debt [member] | ||
Trading assets | ||
Securities | 3,068 | 4,610 |
Investment securities | ||
Investment securities | 9,827 | 10,457 |
Level 1 [member] | Recurring fair value measurement [member] | Corporate and other debt [member] | ||
Trading assets | ||
Securities | 8 | 3 |
Investment securities | ||
Investment securities | 230 | 732 |
Level 1 [member] | Recurring fair value measurement [member] | Income funds [member] | ||
Trading assets | ||
Securities | 31 | 29 |
Level 1 [member] | Recurring fair value measurement [member] | Equity securities [member] | ||
Trading assets | ||
Securities | 44,499 | 39,513 |
Level 1 [member] | Recurring fair value measurement [member] | Other trading assets [member] | ||
Trading assets | ||
Other | 748 | 454 |
Level 1 [member] | Recurring fair value measurement [member] | Equity securities [member] | ||
Investment securities | ||
Investment securities | 833 | 838 |
Level 1 [member] | Recurring fair value measurement [member] | Foreign exchange and gold contracts [member] | ||
Derivative financial instruments | ||
Derivative Financial Assets | 5 | |
Level 1 [member] | Recurring fair value measurement [member] | Equity contracts [member] | ||
Derivative financial instruments | ||
Derivative Financial Assets | 578 | 797 |
Level 1 [member] | Recurring fair value measurement [member] | Commodity Contracts [member] | ||
Derivative financial instruments | ||
Derivative Financial Assets | 68 | 92 |
Level 2 [member] | Recurring fair value measurement [member] | ||
Assets: | ||
Precious metals | 3,608 | 3,175 |
Trading assets | ||
Assets | 40,625 | 38,643 |
Investment securities | ||
Investment securities | 20,055 | 19,645 |
Derivative financial instruments | ||
Derivative Financial Assets | 31,467 | 36,544 |
Liabilities: | ||
Deposits | (205) | (401) |
Financial liabilities designated at fair value through profit or loss | 9,907 | 8,188 |
Obligations related to securities sold short | 5,187 | 7,524 |
Derivative financial instruments | ||
Derivative Financial Liabilities | 34,935 | 36,797 |
Level 2 [member] | Recurring fair value measurement [member] | Interest rate contracts [member] | ||
Derivative financial instruments | ||
Derivative Financial Liabilities | 10,761 | 11,012 |
Level 2 [member] | Recurring fair value measurement [member] | Foreign exchange and gold contracts [member] | ||
Derivative financial instruments | ||
Derivative Financial Liabilities | 18,186 | 20,537 |
Level 2 [member] | Recurring fair value measurement [member] | Equity contracts [member] | ||
Derivative financial instruments | ||
Derivative Financial Liabilities | 2,712 | 1,884 |
Level 2 [member] | Recurring fair value measurement [member] | Credit contracts [member] | ||
Derivative financial instruments | ||
Derivative Financial Liabilities | 58 | 70 |
Level 2 [member] | Recurring fair value measurement [member] | Commodity Contracts [member] | ||
Derivative financial instruments | ||
Derivative Financial Liabilities | 3,218 | 3,294 |
Level 2 [member] | Recurring fair value measurement [member] | Trading loans [member] | ||
Trading assets | ||
Loans | 13,161 | 14,334 |
Level 2 [member] | Recurring fair value measurement [member] | Canadian federal government and government guaranteed debt [member] | ||
Trading assets | ||
Securities | 1,843 | |
Investment securities | ||
Investment securities | 2,646 | 2,518 |
Level 2 [member] | Recurring fair value measurement [member] | Canadian provincial and municipal debt [member] | ||
Trading assets | ||
Securities | 10,043 | 10,159 |
Investment securities | ||
Investment securities | 3,291 | 3,986 |
Level 2 [member] | Recurring fair value measurement [member] | U.S. treasury and other U.S. agency debt [member] | ||
Investment securities | ||
Investment securities | 473 | 669 |
Level 2 [member] | Recurring fair value measurement [member] | Other foreign governments debt [member] | ||
Trading assets | ||
Securities | 2,161 | 1,833 |
Investment securities | ||
Investment securities | 9,830 | 9,485 |
Level 2 [member] | Recurring fair value measurement [member] | Corporate and other debt [member] | ||
Trading assets | ||
Securities | 9,548 | 8,984 |
Investment securities | ||
Investment securities | 1,944 | 1,818 |
Level 2 [member] | Recurring fair value measurement [member] | Equity securities [member] | ||
Trading assets | ||
Securities | 261 | 158 |
Level 2 [member] | Recurring fair value measurement [member] | Mortgage backed securities [member] | ||
Investment securities | ||
Investment securities | 1,600 | 906 |
Level 2 [member] | Recurring fair value measurement [member] | Equity securities [member] | ||
Investment securities | ||
Investment securities | 271 | 263 |
Level 2 [member] | Recurring fair value measurement [member] | Interest rate contracts [member] | ||
Derivative financial instruments | ||
Derivative Financial Assets | 9,934 | 8,927 |
Level 2 [member] | Recurring fair value measurement [member] | Foreign exchange and gold contracts [member] | ||
Derivative financial instruments | ||
Derivative Financial Assets | 18,771 | 22,197 |
Level 2 [member] | Recurring fair value measurement [member] | Equity contracts [member] | ||
Derivative financial instruments | ||
Derivative Financial Assets | 221 | 1,556 |
Level 2 [member] | Recurring fair value measurement [member] | Credit contracts [member] | ||
Derivative financial instruments | ||
Derivative Financial Assets | 307 | 349 |
Level 2 [member] | Recurring fair value measurement [member] | Commodity Contracts [member] | ||
Derivative financial instruments | ||
Derivative Financial Assets | 2,234 | 3,515 |
Level 3 [member] | Recurring fair value measurement [member] | ||
Assets: | ||
Precious metals | 14 | 16 |
Trading assets | ||
Assets | 32 | 34 |
Investment securities | ||
Investment securities | 749 | 770 |
Derivative financial instruments | ||
Derivative Financial Assets | 48 | 120 |
Derivative financial instruments | ||
Derivative Financial Liabilities | 39 | 79 |
Level 3 [member] | Recurring fair value measurement [member] | Interest rate contracts [member] | ||
Derivative financial instruments | ||
Derivative Financial Liabilities | 32 | 74 |
Level 3 [member] | Recurring fair value measurement [member] | Equity contracts [member] | ||
Derivative financial instruments | ||
Derivative Financial Liabilities | 7 | 5 |
Level 3 [member] | Recurring fair value measurement [member] | Other foreign governments debt [member] | ||
Investment securities | ||
Investment securities | 31 | 48 |
Level 3 [member] | Recurring fair value measurement [member] | Corporate and other debt [member] | ||
Trading assets | ||
Securities | 18 | 18 |
Investment securities | ||
Investment securities | 17 | 13 |
Level 3 [member] | Recurring fair value measurement [member] | Equity securities [member] | ||
Investment securities | ||
Investment securities | 701 | 709 |
Level 3 [member] | Recurring fair value measurement [member] | Interest rate contracts [member] | ||
Derivative financial instruments | ||
Derivative Financial Assets | 46 | 112 |
Level 3 [member] | Recurring fair value measurement [member] | Equity contracts [member] | ||
Derivative financial instruments | ||
Derivative Financial Assets | $ 2 | $ 8 |
Financial Instruments - Summa_4
Financial Instruments - Summary of Fair Value Hierarchy of Instruments Carried at Fair Value on a Recurring Basis (Parenthetical) (Detail) - CAD ($) $ in Millions | Jan. 31, 2019 | Oct. 31, 2018 |
Gross carrying amount [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Investment securities measured at amortized cost | $ 20,651 | $ 20,743 |
Financial Instruments - Summa_5
Financial Instruments - Summary of Changes in Level 3 Instruments Carried at Fair Value (Detail) - Level 3 [member] - CAD ($) $ in Millions | 3 Months Ended | |
Jan. 31, 2019 | Oct. 31, 2018 | |
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | ||
Fair value, beginning balance | $ 845 | |
Gains/(losses) recorded in income | (15) | |
Gains/(losses) recorded in OCI | 11 | |
Purchases/ Issuances | (86) | |
Sales/ Settlements | (103) | |
Transfers into/out of Level 3 | (34) | |
Fair value, ending balance | 790 | $ 845 |
Change in unrealized gains/(losses)recorded in income for instruments still held | (15) | |
Precious metals [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | ||
Fair value, beginning balance | 16 | |
Sales/ Settlements | (2) | |
Fair value, ending balance | 14 | 16 |
Derivative financial instruments [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | ||
Fair value, beginning balance | 41 | 28 |
Gains/(losses) recorded in income | (27) | 2 |
Gains/(losses) recorded in OCI | 0 | 0 |
Purchases/ Issuances | 1 | |
Sales/ Settlements | (2) | |
Transfers into/out of Level 3 | (4) | 11 |
Fair value, ending balance | 9 | 41 |
Change in unrealized gains/(losses)recorded in income for instruments still held | (27) | |
Trading assets [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | ||
Fair value, beginning balance | 18 | 20 |
Sales/ Settlements | 2 | |
Fair value, ending balance | 18 | 18 |
Trading assets [member] | Corporate debt and other debt [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | ||
Fair value, beginning balance | 18 | |
Fair value, ending balance | 18 | 18 |
Investment securities [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | ||
Fair value, beginning balance | 770 | 750 |
Gains/(losses) recorded in income | 12 | 9 |
Gains/(losses) recorded in OCI | 11 | |
Purchases/ Issuances | 85 | 70 |
Sales/ Settlements | (99) | 39 |
Transfers into/out of Level 3 | (30) | (20) |
Fair value, ending balance | 749 | 770 |
Change in unrealized gains/(losses)recorded in income for instruments still held | 12 | |
Investment securities [member] | Other foreign governments debt [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | ||
Fair value, beginning balance | 48 | |
Gains/(losses) recorded in OCI | (1) | |
Sales/ Settlements | (9) | |
Transfers into/out of Level 3 | (7) | |
Fair value, ending balance | 31 | 48 |
Investment securities [member] | Corporate and other debt [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | ||
Fair value, beginning balance | 13 | |
Gains/(losses) recorded in OCI | 4 | |
Fair value, ending balance | 17 | 13 |
Investment securities [member] | Equity securities [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | ||
Fair value, beginning balance | 709 | |
Gains/(losses) recorded in income | 12 | |
Gains/(losses) recorded in OCI | 8 | |
Purchases/ Issuances | 85 | |
Sales/ Settlements | (90) | |
Transfers into/out of Level 3 | (23) | |
Fair value, ending balance | 701 | 709 |
Change in unrealized gains/(losses)recorded in income for instruments still held | 12 | |
Derivative Financial Assets [member] | Interest rate contracts [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | ||
Fair value, beginning balance | 112 | |
Gains/(losses) recorded in income | (54) | |
Purchases/ Issuances | 4 | |
Sales/ Settlements | (16) | |
Fair value, ending balance | 46 | 112 |
Change in unrealized gains/(losses)recorded in income for instruments still held | (54) | |
Derivative Financial Assets [member] | Equity contracts [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | ||
Fair value, beginning balance | 8 | |
Gains/(losses) recorded in income | (4) | |
Transfers into/out of Level 3 | (2) | |
Fair value, ending balance | 2 | 8 |
Change in unrealized gains/(losses)recorded in income for instruments still held | (4) | |
Precious metals [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | ||
Fair value, beginning balance | 16 | 11 |
Purchases/ Issuances | 5 | |
Fair value, ending balance | 16 | |
Interest rate contracts [member] | Derivative financial liabilities [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | ||
Fair value, beginning balance | (74) | |
Gains/(losses) recorded in income | 31 | |
Gains/(losses) recorded in OCI | 0 | |
Purchases/ Issuances | (3) | |
Sales/ Settlements | 14 | |
Fair value, ending balance | (32) | (74) |
Change in unrealized gains/(losses)recorded in income for instruments still held | 31 | |
Equity contracts [member] | Derivative financial liabilities [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | ||
Fair value, beginning balance | (5) | |
Gains/(losses) recorded in OCI | 0 | |
Transfers into/out of Level 3 | (2) | |
Fair value, ending balance | $ (7) | $ (5) |
Corporate Income Taxes- Additio
Corporate Income Taxes- Additional Information (Detail) - CAD ($) $ in Millions | Jun. 30, 2018 | Aug. 31, 2017 | Nov. 30, 2016 |
2011 taxation year [member] | |||
Disclosure Of Income Taxes [line items] | |||
Reassessed tax by Canada Revenue Agency | $ 179 | ||
2012 taxation year [member] | |||
Disclosure Of Income Taxes [line items] | |||
Reassessed tax by Canada Revenue Agency | $ 185 | ||
2013 taxation year [member] | |||
Disclosure Of Income Taxes [line items] | |||
Reassessed tax by Canada Revenue Agency | $ 211 |
Acquisitions and Divestitures -
Acquisitions and Divestitures - Additional Information (Detail) $ in Millions, $ in Billions | Dec. 20, 2018CAD ($) | Sep. 01, 2018USD ($) | Jul. 06, 2018CAD ($) | Jan. 31, 2019CAD ($) | Oct. 03, 2018CAD ($) | Sep. 01, 2018CAD ($) | Jul. 06, 2018USD ($) |
Scotia Crecer AFP and Scotia Seguros [member] | Dominican Republic [member] | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Gain on sale of subsidiary after tax | $ 400 | ||||||
Common equity tier one capital ratio | 0.20% | ||||||
Citibank's consumer and small and medium enterprise operations [member] | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Assets acquired | $ 2,000 | ||||||
Liabilities assumed | $ 1,400 | ||||||
BBVA Chile [member] | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Assets acquired | $ (2,272) | ||||||
Proportion of ownership interest | 75.50% | ||||||
Business acquisition, purchase price | $ 2,929 | $ 2.2 | |||||
Proportion of consolidated | 100.00% | ||||||
Non-controlling interest | 31.80% | ||||||
Payment made by minority shareholder to increase pro forma ownership | $ 0.4 | ||||||
Non-controlling interest | $ 677 | $ 700 | |||||
BBVA Chile [member] | Banco Bilbao Vizcaya Argentaria [member] | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Proportion of ownership interest | 68.20% | ||||||
BBVA Chile [member] | BBVA Seguros Vida S.A [member] | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Proportion of ownership interest | 100.00% | ||||||
BBVA Chile [member] | Servicios Corporativos S.A [member] | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Proportion of ownership interest | 100.00% | ||||||
BBVA Chile [member] | Inmobiliaria e Inversiones S.A.[member] | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Proportion of ownership interest | 68.10% | ||||||
BBVA Chile [member] | Inversiones DCV S.A.[member] | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Proportion of ownership interest | 4.10% | ||||||
MD Financial Management [member] | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Assets acquired | $ (97) | ||||||
Business acquisition, purchase price | $ 2,700 |
Acquisitions and Divestitures_2
Acquisitions and Divestitures - Summary of Fair Value of Identifiable Net Assets at Acquisition Date, BBVA Chile (Detail) - BBVA Chile [member] $ in Millions, $ in Billions | Sep. 01, 2018CAD ($) | Jul. 06, 2018CAD ($) | Jul. 06, 2018USD ($) |
Disclosure of detailed information about business combination [line items] | |||
Total identifiable net assets at fair value | $ 2,272 | ||
Deferred tax liability | (90) | ||
Goodwill arising on acquisition | 1,281 | ||
Non-controlling interest | $ (700) | (677) | |
Purchase consideration transferred | 2,929 | $ 2.2 | |
Finite life intangible assets [member] | |||
Disclosure of detailed information about business combination [line items] | |||
Intangible assets arising on acquisition | $ 143 |
Acquisitions and Divestitures_3
Acquisitions and Divestitures - Summary of Fair Value of Identifiable Net Assets at Acquisition Date, BBVA Chile (Parenthetical) (Detail) - BBVA Chile [member] $ in Millions | Jul. 06, 2018CAD ($) |
Disclosure of detailed information about business combination [line items] | |
Assets acquired | $ (2,272) |
Loans acquired in business combination [member] | |
Disclosure of detailed information about business combination [line items] | |
Assets acquired | 20,469 |
Deposits acquired in business combination [member] | |
Disclosure of detailed information about business combination [line items] | |
Liabilities assumed | $ 13,444 |
Acquisitions and Divestitures_4
Acquisitions and Divestitures - Summary of Fair Value of Identifiable Net Assets at Acquisition Date, MD Financial Management (Detail) - MD Financial Management [member] $ in Millions | Oct. 03, 2018CAD ($) |
Disclosure of detailed information about business combination [line items] | |
Total identifiable net assets at fair value | $ 97 |
Deferred tax liability | (501) |
Goodwill arising on acquisition | 1,154 |
Purchase consideration transferred | 2,700 |
Finite life intangible assets [member] | |
Disclosure of detailed information about business combination [line items] | |
Intangible assets arising on acquisition | 70 |
Indefinite life intangible assets [member] | |
Disclosure of detailed information about business combination [line items] | |
Intangible assets arising on acquisition | $ 1,880 |
Acquisitions and Divestitures_5
Acquisitions and Divestitures - Summary of Fair Value of Identifiable Net Assets at Acquisition Date, MD Financial Management (Parenthetical) (Detail) - MD Financial Management [member] $ in Millions | Oct. 03, 2018CAD ($) |
Fund management contracts [member] | |
Disclosure of detailed information about business combination [line items] | |
Intangible assets arising on acquisition | $ 1,800 |
Trademark [member] | |
Disclosure of detailed information about business combination [line items] | |
Intangible assets arising on acquisition | $ 80 |
Events After the Consolidated_2
Events After the Consolidated Statement of Financial Position Date - Additional Information (Detail) - CAD ($) $ in Millions | Feb. 26, 2019 | Feb. 08, 2019 |
Thanachart bank public company limited [member] | ||
Disclosure of non-adjusting events after reporting period [line items] | ||
Ownership interest, potential divestiture | 49.00% | |
Major ordinary share transactions [member] | ||
Disclosure of non-adjusting events after reporting period [line items] | ||
Expected after tax loss on sale of operations | $ 170 | |
Increase in Common Equity Tier 1 capital ratio | Six basis points |