Cover Page
Cover Page | 6 Months Ended |
Apr. 30, 2022 | |
Cover [Abstract] | |
Document Type | 6-K |
Amendment Flag | false |
Document Period End Date | Apr. 30, 2022 |
Document Fiscal Year Focus | 2022 |
Document Fiscal Period Focus | Q2 |
Entity Registrant Name | BANK OF NOVA SCOTIA |
Entity Central Index Key | 0000009631 |
Current Fiscal Year End Date | --10-31 |
Consolidated Statement of Finan
Consolidated Statement of Financial Position - CAD ($) $ in Millions | Apr. 30, 2022 | Jan. 31, 2022 | Oct. 31, 2021 | |
Assets | ||||
Cash and deposits with financial institutions | [1] | $ 85,910 | $ 99,053 | $ 86,323 |
Precious metals | 1,056 | 527 | 755 | |
Trading assets | ||||
Securities | 123,413 | 143,021 | 137,148 | |
Loans | 8,483 | 8,494 | 8,113 | |
Other | 1,748 | 1,432 | 1,051 | |
Total trading assets | 133,644 | 152,947 | 146,312 | |
Securities purchased under resale agreements and securities borrowed | 148,706 | 132,714 | 127,739 | |
Derivative financial instruments | 54,608 | 40,655 | 42,302 | |
Investment securities | 100,487 | 81,699 | 75,199 | |
Loans | ||||
Residential mortgages | 337,714 | 330,991 | 319,678 | |
Personal loans | 94,437 | 92,622 | 91,540 | |
Credit cards | 13,622 | 13,145 | 12,450 | |
Business and government | 249,223 | 236,072 | 218,944 | |
Loans and receivables gross | 694,996 | 672,830 | 642,612 | |
Allowance for credit losses | 5,294 | 5,492 | 5,626 | |
Loans and receivables | 689,702 | 667,338 | 636,986 | |
Other | ||||
Customers' liability under acceptances, net of allowance | 19,043 | 20,901 | 20,404 | |
Property and equipment | 5,571 | 5,582 | 5,621 | |
Investments in associates | 2,760 | 2,740 | 2,604 | |
Goodwill and other intangible assets | 16,712 | 16,752 | 16,604 | |
Deferred tax assets | 1,137 | 1,969 | 2,051 | |
Other assets | 29,170 | 22,597 | 21,944 | |
Other Assets | 74,393 | 70,541 | 69,228 | |
Total assets | 1,288,506 | 1,245,474 | 1,184,844 | |
Deposits | ||||
Personal | 252,847 | 247,067 | 243,551 | |
Business and government | 569,268 | 559,616 | 511,348 | |
Financial institutions | 54,439 | 44,362 | 42,360 | |
Deposits | 876,554 | 851,045 | 797,259 | |
Financial instruments designated at fair value through profit or loss | 21,927 | 23,979 | 22,493 | |
Other | ||||
Acceptances | 19,070 | 20,934 | 20,441 | |
Obligations related to securities sold short | 44,620 | 46,133 | 40,954 | |
Derivative financial instruments | 57,123 | 39,697 | 42,203 | |
Obligations related to securities sold under repurchase agreements and securities lent | 131,978 | 122,878 | 123,469 | |
Subordinated debentures | 8,447 | 6,338 | 6,334 | |
Other liabilities | 56,820 | 60,524 | 58,799 | |
Other Liabilities | 318,058 | 296,504 | 292,200 | |
Total liabilities | 1,216,539 | 1,171,528 | 1,111,952 | |
Equity | ||||
Retained earnings | 52,209 | 51,848 | 51,354 | |
Accumulated other comprehensive income (loss) | (6,034) | (4,324) | (5,333) | |
Other reserves | (141) | 227 | 222 | |
Total common equity | 64,833 | 66,172 | 64,750 | |
Total equity attributable to equity holders of the Bank | 70,385 | 71,724 | 70,802 | |
Non-controlling interests in subsidiaries | 1,582 | 2,222 | 2,090 | |
Total equity | 71,967 | 73,946 | 72,892 | |
Total liabilities and equity | 1,288,506 | 1,245,474 | 1,184,844 | |
Common shares [member] | ||||
Equity | ||||
Common shares | 18,799 | 18,421 | 18,507 | |
Preference shares [member] | ||||
Equity | ||||
Preferred shares and other equity instruments | $ 5,552 | $ 5,552 | $ 6,052 | |
[1] | Net of allowances of $0 (January 31, 2022 – $1; October 31, 2021 – $1). |
Consolidated Statement of Incom
Consolidated Statement of Income - CAD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Apr. 30, 2022 | Jan. 31, 2022 | Apr. 30, 2021 | Apr. 30, 2022 | Apr. 30, 2021 | ||
Interest income | ||||||
Loans | [1] | $ 6,418 | $ 5,994 | $ 5,712 | $ 12,412 | $ 11,760 |
Securities | [1] | 500 | 358 | 390 | 858 | 770 |
Securities purchased under resale agreements and securities borrowed | [1] | 71 | 47 | 41 | 118 | 84 |
Deposits with financial institutions | [1] | 103 | 64 | 44 | 167 | 85 |
Interest income | [1] | 7,092 | 6,463 | 6,187 | 13,555 | 12,699 |
Interest expense | ||||||
Deposits | 2,024 | 1,573 | 1,619 | 3,597 | 3,412 | |
Subordinated debentures | 55 | 45 | 44 | 100 | 91 | |
Other | 540 | 501 | 348 | 1,041 | 669 | |
Interest expenses | 2,619 | 2,119 | 2,011 | 4,738 | 4,172 | |
Net interest income | 4,473 | 4,344 | 4,176 | 8,817 | 8,527 | |
Non-interest income | ||||||
Card revenues | 207 | 190 | 181 | 397 | 385 | |
Banking services fees | 430 | 437 | 399 | 867 | 784 | |
Credit fees | 397 | 401 | 377 | 798 | 735 | |
Mutual funds | 575 | 628 | 548 | 1,203 | 1,209 | |
Brokerage fees | 287 | 298 | 259 | 585 | 511 | |
Investment management and trust | 254 | 256 | 245 | 510 | 491 | |
Underwriting and advisory fees | 137 | 172 | 216 | 309 | 382 | |
Non-trading foreign exchange | 216 | 225 | 210 | 441 | 414 | |
Trading revenues | 453 | 609 | 525 | 1,062 | 1,146 | |
Net gain on sale of investment securities | 1 | 2 | 137 | 3 | 256 | |
Net income from investments in associated corporations | 84 | 91 | 113 | 175 | 170 | |
Insurance underwriting income, net of claims | 105 | 101 | 100 | 206 | 213 | |
Other fees and commissions | 145 | 156 | 189 | 301 | 353 | |
Other | 178 | 139 | 61 | 317 | 232 | |
Total non-interest income | 3,469 | 3,705 | 3,560 | 7,174 | 7,281 | |
Total revenue | 7,942 | 8,049 | 7,736 | 15,991 | 15,808 | |
Provision for credit losses | 219 | 222 | 496 | 441 | 1,260 | |
Profit from operating activity | 7,723 | 7,827 | 7,240 | 15,550 | 14,548 | |
Non-interest expenses | ||||||
Salaries and employee benefits | 2,175 | 2,280 | 2,128 | 4,455 | 4,356 | |
Premises and technology | 590 | 586 | 581 | 1,176 | 1,156 | |
Depreciation and amortization | 381 | 375 | 375 | 756 | 755 | |
Communications | 93 | 90 | 94 | 183 | 190 | |
Advertising and business development | 108 | 109 | 94 | 217 | 185 | |
Professional | 195 | 192 | 179 | 387 | 336 | |
Business and capital taxes | 132 | 140 | 126 | 272 | 269 | |
Other | 485 | 451 | 465 | 936 | 1,003 | |
Total non-interest expenses | 4,159 | 4,223 | 4,042 | 8,382 | 8,250 | |
Income before taxes | 3,564 | 3,604 | 3,198 | 7,168 | 6,298 | |
Income tax expense | 817 | 864 | 742 | 1,681 | 1,444 | |
Net income | 2,747 | 2,740 | 2,456 | 5,487 | 4,854 | |
Net income attributable to non-controlling interests in subsidiaries | 78 | 88 | 90 | 166 | 180 | |
Net income attributable to equity holders of the Bank | 2,669 | 2,652 | 2,366 | 5,321 | 4,674 | |
Preferred shareholders and other equity instrument holders | 74 | 44 | 77 | 118 | 120 | |
Common shareholders | $ 2,595 | $ 2,608 | $ 2,289 | $ 5,203 | $ 4,554 | |
Earnings per common share (in dollars) | ||||||
Basic | [2] | $ 2.16 | $ 2.15 | $ 1.89 | $ 4.32 | $ 3.76 |
Diluted | 2.16 | 2.14 | 1.88 | 4.3 | 3.74 | |
Dividends paid per common share (in dollars) | $ 1 | $ 1 | $ 0.9 | $ 2 | $ 1.8 | |
[1] | Includes interest income on financial assets measured at amortized cost and FVOCI, calculated using the effective interest method, of $6,915 for the three months ended April 30, 2022 (January 31, 2022 – $6,331; April 30, 2021 – $6,078) and for the six months ended April 30, 2022 – $13,246 (April 30, 2021 – $12,478). | |||||
[2] | Earnings per share calculations are based on full dollar and share amounts. |
Consolidated Statement of Inc_2
Consolidated Statement of Income (Parenthetical) - CAD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Apr. 30, 2022 | Jan. 31, 2022 | Apr. 30, 2021 | Apr. 30, 2022 | Apr. 30, 2021 | |
Profit or loss [abstract] | |||||
Interest income calculated using effective interest method | $ 6,915 | $ 6,331 | $ 6,078 | $ 13,246 | $ 12,478 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - CAD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Apr. 30, 2022 | Jan. 31, 2022 | Apr. 30, 2021 | Apr. 30, 2022 | Apr. 30, 2021 | |
Statement of comprehensive income [abstract] | |||||
Net income | $ 2,747 | $ 2,740 | $ 2,456 | $ 5,487 | $ 4,854 |
Net change in unrealized foreign currency translation gains (losses): | |||||
Net unrealized foreign currency translation gains (losses) | 74 | 1,500 | (1,956) | 1,574 | (3,362) |
Net gains (losses) on hedges of net investments in foreign operations | (190) | (559) | 625 | (749) | 1,131 |
Income tax expense (benefit): | |||||
Net unrealized foreign currency translation gains (losses) | (4) | 12 | (17) | 8 | (24) |
Net gains (losses) on hedges of net investments in foreign operations | (50) | (147) | 164 | (197) | 297 |
Other comprehensive income on foreign currency translation and hedges of net investments net of tax | (62) | 1,076 | (1,478) | 1,014 | (2,504) |
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 | (1,794) | (321) | (617) | (2,115) | (676) |
Reclassification of net (gains) losses to net income | 1,154 | 117 | 250 | 1,271 | 356 |
Income tax expense (benefit): | |||||
Net gains (losses) in fair value | (465) | (80) | (151) | (545) | (168) |
Reclassification of net (gains) losses to net income | 320 | 35 | 61 | 355 | 85 |
Other comprehensive income net of tax available for sale financial assets net of tax | (495) | (159) | (277) | (654) | (237) |
Net change in gains (losses) on derivative instruments designated as cash flow hedges: | |||||
Net gains (losses) on derivative instruments designated as cash flow hedges | (5,692) | (976) | (881) | (6,668) | 257 |
Reclassification of net (gains) losses to net income | 2,528 | 669 | 666 | 3,197 | (726) |
Income tax expense (benefit): | |||||
Net gains (losses) on derivative instruments designated as cash flow hedges | (1,532) | (251) | (249) | (1,783) | 57 |
Reclassification of net (gains) losses to net income | 699 | 171 | 195 | 870 | (167) |
Other comprehensive income net of tax cash flow hedges | (2,331) | (227) | (161) | (2,558) | (359) |
Other comprehensive income (loss) from investments in associates | 17 | 4 | 15 | 21 | 27 |
Net change in remeasurement of employee benefit plan asset and liability: | |||||
Actuarial gains (losses) on employee benefit plans | 1,055 | 148 | 887 | 1,203 | 1,528 |
Income tax expense (benefit) | 279 | 69 | 235 | 348 | 406 |
Other comprehensive income net of tax actuarial gains (losses) on employee benefit plans | 776 | 79 | 652 | 855 | 1,122 |
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 | 35 | 194 | 183 | 229 | 352 |
Income tax expense (benefit) | (9) | 68 | 60 | 59 | 82 |
Other comprehensive income net of tax for equity instruments designated at fair value through other comprehensive income | 44 | 126 | 123 | 170 | 270 |
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 | 787 | 231 | (140) | 1,018 | (318) |
Income tax expense (benefit) | 206 | 61 | (36) | 267 | (83) |
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 | 581 | 170 | (104) | 751 | (235) |
Other comprehensive income (loss) from investments in associates | 1 | 1 | (14) | 2 | 5 |
Other comprehensive income (loss) | (1,469) | 1,070 | (1,244) | (399) | (1,911) |
Comprehensive income | 1,278 | 3,810 | 1,212 | 5,088 | 2,943 |
Comprehensive income attributable to non-controlling interests | 56 | 149 | 40 | 205 | 123 |
Comprehensive income attributable to equity holders of the Bank | 1,222 | 3,661 | 1,172 | 4,883 | 2,820 |
Preferred shareholders and other equity instrument holders | 74 | 44 | 77 | 118 | 120 |
Common shareholders | $ 1,148 | $ 3,617 | $ 1,095 | $ 4,765 | $ 2,700 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Equity - CAD ($) $ in Millions | Total | Common shares [member] | Retained earnings [member] | [1] | Other reserves [member] | Total common equity [member] | Preferred shares and other equity instruments [member] | Total common and preferred equity [member] | Non-controlling interests [member] | Foreign currency translation [member]Accumulated other comprehensive income (loss) [member] | Debt 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] | Cash flow hedging reserve [member]Accumulated other comprehensive income (loss) [member] | Other [member]Accumulated other comprehensive income (loss) [member] | [2] | |||
Beginning Balance at Oct. 31, 2020 | $ 70,503 | $ 18,239 | $ 46,345 | $ 360 | $ 62,819 | $ 5,308 | $ 68,127 | $ 2,376 | $ (1,328) | $ 330 | $ (163) | $ 639 | $ (1,603) | |||||
Statement [Line Items] | ||||||||||||||||||
Net income | 4,854 | 4,554 | 4,554 | 120 | 4,674 | 180 | ||||||||||||
Other comprehensive income (loss) | (1,911) | (1,854) | (1,854) | (57) | (2,412) | (237) | 287 | (398) | 906 | |||||||||
Total comprehensive income | 2,943 | 4,554 | 2,700 | 120 | 2,820 | 123 | (2,412) | (237) | 287 | (398) | 906 | |||||||
Shares issued | 121 | 138 | (17) | 121 | 121 | |||||||||||||
Shares repurchased/redeemed | (759) | (759) | (759) | |||||||||||||||
Dividends and distributions paid to equity holders | (2,388) | (2,183) | (2,183) | (120) | (2,303) | (85) | ||||||||||||
Share-based payments | [3] | 5 | 5 | 5 | 5 | |||||||||||||
Other | (3) | (3) | (3) | (3) | ||||||||||||||
Ending Balance at Apr. 30, 2021 | 70,422 | 18,377 | 48,713 | 348 | 63,459 | 4,549 | 68,008 | 2,414 | (3,740) | 93 | 124 | 241 | (697) | |||||
Beginning Balance at Oct. 31, 2021 | 72,892 | 18,507 | 51,354 | 222 | 64,750 | 6,052 | 70,802 | 2,090 | (4,709) | (270) | 291 | (214) | (431) | |||||
Statement [Line Items] | ||||||||||||||||||
Net income | 2,740 | |||||||||||||||||
Other comprehensive income (loss) | 1,070 | |||||||||||||||||
Total comprehensive income | 3,810 | |||||||||||||||||
Ending Balance at Jan. 31, 2022 | 73,946 | |||||||||||||||||
Beginning Balance at Oct. 31, 2021 | 72,892 | 18,507 | 51,354 | 222 | 64,750 | 6,052 | 70,802 | 2,090 | (4,709) | (270) | 291 | (214) | (431) | |||||
Statement [Line Items] | ||||||||||||||||||
Net income | 5,487 | 5,203 | 5,203 | 118 | 5,321 | 166 | ||||||||||||
Other comprehensive income (loss) | (399) | (438) | (438) | 39 | 940 | (654) | 190 | (2,540) | 1,626 | |||||||||
Total comprehensive income | 5,088 | 5,203 | 4,765 | 118 | 4,883 | 205 | 940 | (654) | 190 | (2,540) | 1,626 | |||||||
Shares issued | 677 | 694 | (17) | 677 | 677 | |||||||||||||
Shares repurchased/redeemed | (2,836) | (402) | (1,934) | (2,336) | (500) | (2,836) | ||||||||||||
Dividends and distributions paid to equity holders | (2,596) | (2,402) | (2,402) | (118) | (2,520) | (76) | ||||||||||||
Share-based payments | [3] | 8 | 8 | 8 | 8 | |||||||||||||
Other | (1,266) | (12) | (354) | [4] | (629) | (629) | (637) | [4],[5] | (174) | (39) | (50) | |||||||
Ending Balance at Apr. 30, 2022 | 71,967 | 18,799 | 52,209 | (141) | 64,833 | 5,552 | 70,385 | 1,582 | (3,943) | (924) | 442 | (2,804) | 1,195 | |||||
Beginning Balance at Jan. 31, 2022 | 73,946 | |||||||||||||||||
Statement [Line Items] | ||||||||||||||||||
Net income | 2,747 | |||||||||||||||||
Other comprehensive income (loss) | (1,469) | |||||||||||||||||
Total comprehensive income | 1,278 | |||||||||||||||||
Ending Balance at Apr. 30, 2022 | $ 71,967 | $ 18,799 | $ 52,209 | $ (141) | $ 64,833 | $ 5,552 | $ 70,385 | $ 1,582 | $ (3,943) | $ (924) | $ 442 | $ (2,804) | $ 1,195 | |||||
[1] | Includes undistributed retained earnings of $62 (April 30, 2021 – $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 13). | |||||||||||||||||
[4] | Includes changes to non-controlling interests arising from business combinations and related transactions (refer to Note 20). | |||||||||||||||||
[5] | Includes interest income on financial assets measured at amortized cost and FVOCI, calculated using the effective interest method, of $6,915 for the three months ended April 30, 2022 (January 31, 2022 – $6,331; April 30, 2021 – $6,078) and for the six months ended April 30, 2022 – $13,246 (April 30, 2021 – $12,478). |
Consolidated Statement of Cha_2
Consolidated Statement of Changes in Equity (Parenthetical) - CAD ($) $ in Millions | Apr. 30, 2022 | Jan. 31, 2022 | Oct. 31, 2021 | Apr. 30, 2021 |
Disclosure Of Restatement [abstract] | ||||
Undistributed retained earnings | $ 62 | $ 62 | $ 60 | $ 58 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - CAD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Apr. 30, 2022 | Apr. 30, 2021 | Apr. 30, 2022 | Apr. 30, 2021 | ||
Cash flows from operating activities | |||||
Net income | $ 2,747 | $ 2,456 | $ 5,487 | $ 4,854 | |
Adjustment for: | |||||
Net interest income | (4,473) | (4,176) | (8,817) | (8,527) | |
Depreciation and amortization | 381 | 375 | 756 | 755 | |
Provision for credit losses | 219 | 496 | 441 | 1,260 | |
Equity-settled share-based payment expense | 2 | 1 | 8 | 5 | |
Net gain on sale of investment securities | (1) | (137) | (3) | (256) | |
Net (gain)/loss on divestitures | 15 | 15 | |||
Net income from investments in associated corporations | (84) | (113) | (175) | (170) | |
Income tax expense | 817 | 742 | 1,681 | 1,444 | |
Changes in operating assets and liabilities: | |||||
Trading assets | 19,095 | (6,013) | 14,598 | (31,840) | |
Securities purchased under resale agreements and securities borrowed | (16,739) | (16,101) | (19,514) | (17,630) | |
Loans | (24,271) | (13,693) | (49,092) | (19,544) | |
Deposits | 26,137 | 3,189 | 72,635 | 32,174 | |
Obligations related to securities sold short | (1,280) | 2,451 | 3,563 | 10,877 | |
Obligations related to securities sold under repurchase agreements and securities lent | 10,007 | (21,006) | 7,555 | (15,456) | |
Net derivative financial instruments | (2,047) | 3,586 | (4,010) | 2,959 | |
Other, net | (4,938) | (1,167) | (2,786) | (7,054) | |
Dividends received | 289 | 238 | 573 | 455 | |
Interest received | 6,657 | 6,272 | 13,210 | 13,092 | |
Interest paid | (2,330) | (2,256) | (4,507) | (4,779) | |
Income tax paid | (914) | (662) | (2,372) | (1,504) | |
Net cash from/(used in) operating activities | 9,274 | (45,503) | 29,231 | (38,870) | |
Cash flows from investing activities | |||||
Interest-bearing deposits with financial institutions | 13,432 | 34,287 | 3,203 | 17,913 | |
Purchase of investment securities | (35,179) | (17,661) | (57,757) | (34,706) | |
Proceeds from sale and maturity of investment securities | 14,748 | 29,507 | 31,657 | 57,066 | |
Acquisition/divestiture of subsidiaries, associated corporations or business units, net of cash acquired | (652) | (186) | (652) | (186) | |
Property and equipment, net of disposals | (153) | (137) | (198) | (182) | |
Other, net | (153) | (17) | (380) | (120) | |
Net cash from/(used in) investing activities | (7,957) | 45,793 | (24,127) | 39,785 | |
Cash flows from financing activities | |||||
Proceeds from issue of subordinated debentures | 3,356 | 3,356 | |||
Redemption of subordinated debentures | (1,250) | (1,250) | (750) | ||
Redemption of preferred shares | (759) | (500) | (759) | ||
Proceeds from common shares issued | 21 | 80 | 125 | 138 | |
Common shares purchased for cancellation | (1,250) | (2,336) | |||
Cash dividends and distributions paid | (1,269) | (1,169) | (2,520) | (2,303) | |
Distributions to non-controlling interests | (59) | (68) | (76) | (85) | |
Payment of lease liabilities | (81) | (83) | (170) | (172) | |
Other, net | (706) | 500 | (930) | 313 | |
Net cash from/(used in) financing activities | (1,238) | (1,499) | (4,301) | (3,618) | |
Effect of exchange rate changes on cash and cash equivalents | 1 | (294) | 147 | (480) | |
Net change in cash and cash equivalents | 80 | (1,503) | 950 | (3,183) | |
Cash and cash equivalents at beginning of period | [1] | 10,563 | 9,443 | 9,693 | 11,123 |
Cash and cash equivalents at end of period | [1] | $ 10,643 | $ 7,940 | $ 10,643 | $ 7,940 |
[1] | Represents cash and non-interest-bearing deposits with financial institutions (refer to Note 5). |
Reporting entity
Reporting entity | 6 Months Ended |
Apr. 30, 2022 | |
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 | 6 Months Ended |
Apr. 30, 2022 | |
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 April 30, 2022 have been approved by the Board of Directors for issue on May 25, 2022. 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 | 6 Months Ended |
Apr. 30, 2022 | |
Text Block [Abstract] | |
Significant accounting policies | 3. 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, 2021. The significant accounting policies used in the preparation of the condensed interim consolidated financial statements are consistent with those used in the Bank’s audited consolidated financial statements for the year ended October 31, 2021 as described in Note 3 of the Bank’s 2021 annual consolidated financial statements. |
Future accounting developments
Future accounting developments | 6 Months Ended |
Apr. 30, 2022 | |
Text Block [Abstract] | |
Future accounting developments | 4. 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 2021 Annual Report. |
Cash and deposits with financia
Cash and deposits with financial institutions | 6 Months Ended |
Apr. 30, 2022 | |
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Cash and deposits with financial institutions | 5. Cash and deposits with financial institutions As at ($ millions) April 30 January 31 October 31 Cash and non-interest-bearing $ 10,643 $ 10,563 $ 9,693 Interest-bearing deposits with financial institutions 75,267 88,490 76,630 Total $ 85,910 (1) $ 99,053 (1) $ 86,323 (1) (1) Net of allowances of $2 (January 31, 2022 – $1; October 31, 2021 – $1). The Bank is required to maintain balances with central banks, other regulatory authorities and certain counterparties and these amounted to $5,634 million (January 31, 2022 – $5,162 million; October 31, 2021 – $5,719 million) and are included above. |
Investment securities
Investment securities | 6 Months Ended |
Apr. 30, 2022 | |
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Investment securities | 6. Investment securities The following table presents the carrying amounts of the Bank’s investment securities per measurement category. As at ($ millions) April 30 January 31 October 31 Debt investment securities measured at FVOCI $ 78,343 $ 59,249 $ 52,611 Debt investment securities measured at amortized cost 16,699 17,576 18,157 Equity investment securities designated at FVOCI 3,797 3,542 3,178 Equity investment securities measured at FVTPL 1,576 1,301 1,223 Debt investment securities measured at FVTPL 72 31 30 Total investment securities $ 100,487 $ 81,699 $ 75,199 (a) Debt investment securities measured at fair value through other comprehensive income (FVOCI) As at April 30, 2022 ($ millions) Cost Gross Gross Fair value Canadian federal government issued or guaranteed debt $ 9,913 $ 3 $ 205 $ 9,711 Canadian provincial and municipal debt 5,494 2 295 5,201 U.S. treasury and other U.S. agency debt 36,576 17 1,059 35,534 Other foreign government debt 27,329 31 911 26,449 Other debt 1,477 1 30 1,448 Total $ 80,789 $ 54 $ 2,500 $ 78,343 As at January 31, 2022 ($ millions) Cost Gross Gross Fair value Canadian federal government issued or guaranteed debt $ 8,355 $ 93 $ 44 $ 8,404 Canadian provincial and municipal debt 5,428 7 92 5,343 U.S. treasury and other U.S. agency debt 16,264 115 216 16,163 Other foreign government debt 28,667 48 565 28,150 Other debt 1,189 5 5 1,189 Total $ 59,903 $ 268 $ 922 $ 59,249 As at October 31, 2021 ($ millions) Cost Gross Gross Fair value Canadian federal government issued or guaranteed debt $ 5,694 $ 135 $ 25 $ 5,804 Canadian provincial and municipal debt 5,202 12 59 5,155 U.S. treasury and other U.S. agency debt 13,528 188 79 13,637 Other foreign government debt 27,126 60 515 26,671 Other debt 1,339 9 4 1,344 Total $ 52,889 $ 404 $ 682 $ 52,611 (b) Debt investment securities measured at amortized cost As at April 30, 2022 January 31, 2022 October 31, 2021 ($ millions) Fair value Carrying Fair value Carrying Fair value Carrying Canadian federal and provincial government issued or guaranteed debt $ 10,437 $ 10,713 $ 11,674 $ 11,770 $ 12,310 $ 12,372 U.S. treasury and other U.S. agency debt 4,536 4,863 4,651 4,694 4,712 4,687 Other foreign government debt 1,013 1,013 996 986 970 960 Corporate debt 121 110 132 126 141 138 Total $ 16,107 $ 16,699 $ 17,453 $ 17,576 $ 18,133 $ 18,157 (c) Equity investment securities designated at fair value through other comprehensive income (FVOCI) The Bank has designated certain instruments at FVOCI shown in the following table as these equity securities are held for strategic purposes. As at April 30, 2022 ($ millions) Cost Gross Gross Fair value Preferred equity instruments $ – $ – $ – $ – Common shares 3,209 676 88 3,797 Total $ 3,209 $ 676 $ 88 $ 3,797 As at January 31, 2022 ($ millions) Cost Gross Gross Fair value Preferred equity instruments $ 36 $ 5 $ 5 $ 36 Common shares 2,909 653 56 3,506 Total $ 2,945 $ 658 $ 61 $ 3,542 As at October 31, 2021 ($ millions) Cost Gross Gross Fair value Preferred equity instruments $ 27 $ 4 $ 3 $ 28 Common shares 2,710 528 88 3,150 Total $ 2,737 $ 532 $ 91 $ 3,178 Dividend income earned on equity securities designated at FVOCI of $42 million for the three months ended April 30, 2022 (January 31, 2022 – $38 million; April 30, 2021 – $26 million) and for the six months ended April 30, 2022 – $80 million (April 30, 2021 – $52 million) has been recognized in interest income. During the three months ended April 30, 2022, the Bank has disposed of certain equity securities designated at FVOCI with a fair value of $196 million (January 31, 2022 – $381 million; April 30, 2021 – $523 million) and for the six months ended April 30, 2022 – $577 million (April 30, 2021 – $704 million). This has resulted in a realized gain of $43 million in the three months ended April 30, 2022 (January 31, 2022 – $36 million; April 30, 2021 – $72 million) and for the six months ended a realized gain of $79 million (April 30, 2021 – $111 million). |
Loans, impaired loans and allow
Loans, impaired loans and allowance for credit losses | 6 Months Ended |
Apr. 30, 2022 | |
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Loans, impaired loans and allowance for credit losses | 7. Loans, impaired loans and allowance for credit losses (a) Loans at amortized cost As at April 30, 2022 ($ millions) Gross Allowance Net Residential mortgages $ 337,714 $ 834 $ 336,880 Personal loans 94,437 2,171 92,266 Credit cards 13,622 1,107 12,515 Business and government 249,223 1,182 248,041 Total $ 694,996 $ 5,294 $ 689,702 As at January 31, 2022 October 31, 2021 ($ millions) Gross Allowance Net Gross Allowance Net carrying Residential mortgages $ 330,991 $ 835 $ 330,156 $ 319,678 $ 802 $ 318,876 Personal loans 92,622 2,249 90,373 91,540 2,341 89,199 Credit cards 13,145 1,165 11,980 12,450 1,211 11,239 Business and government 236,072 1,243 234,829 218,944 1,272 217,672 Total $ 672,830 $ 5,492 $ 667,338 $ 642,612 $ 5,626 $ 636,986 (b) Impaired loans (1)(2) As at April 30, 2022 ($ millions) Gross Allowance Net Residential mortgages $ 1,273 $ 393 $ 880 Personal loans 767 566 201 Credit cards – – – Business and government 2,224 645 1,579 Total $ 4,264 $ 1,604 $ 2,660 By geography: Canada $ 968 $ 412 $ 556 United States – – – Mexico 795 289 506 Peru 676 353 323 Chile 543 189 354 Colombia 377 78 299 Other international 905 283 622 Total $ 4,264 $ 1,604 $ 2,660 As at January 31, 2022 October 31, 2021 ($ millions) Gross Allowance Net Gross Allowance Net Residential mortgages $ 1,320 $ 395 $ 925 $ 1,331 $ 374 $ 957 Personal loans 820 574 246 833 626 207 Credit cards – – – – – – Business and government 2,295 654 1,641 2,292 655 1,637 Total $ 4,435 $ 1,623 $ 2,812 $ 4,456 $ 1,655 $ 2,801 By geography: Canada $ 1,055 $ 426 $ 629 $ 1,090 $ 446 $ 644 United States 16 – 16 24 4 20 Mexico 775 281 494 758 269 489 Peru 716 350 366 699 350 349 Chile 540 194 346 512 180 332 Colombia 373 78 295 418 88 330 Other international 960 294 666 955 318 637 Total $ 4,435 $ 1,623 $ 2,812 $ 4,456 $ 1,655 $ 2,801 (1) Interest income recognized on impaired loans during the three months ended April 30, 2022 was $11 (January 31, 2022 – $13; October 31, 2021 – $12). (2) Additional interest income of approximately $ 63 (c) Allowance for credit losses (i) Key inputs and assumptions The Bank’s allowance for credit losses is measured using a three-stage approach based on the extent of credit deterioration since origination. The calculation of the Bank’s allowance for credit losses is an output of complex models with a number of underlying assumptions regarding the choice of variable inputs and their interdependencies. 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. The Bank determines its allowance for credit losses using four probability-weighted forward-looking scenarios (base case, optimistic, pessimistic and very pessimistic). The Bank considers both internal and external sources of information and data to achieve unbiased projections and forecasts in determining the allowance for credit losses. The Bank prepares the scenarios using forecasts generated by Scotiabank Economics (SE). The forecasts are generated using models whose outputs are modified by SE as necessary to formulate a ‘base case’ view of the most probable future direction of economic developments. The development of the baseline and alternative scenarios is overseen by a governance committee that consists of internal stakeholders from across the Bank. The final baseline and alternative scenarios reflect significant review and oversight, and incorporate judgment both in the determination of the scenarios’ forecasts and the probability weights that are assigned to them. (ii) Key macroeconomic variables The inputs and models used for calculating expected credit losses may not always capture all characteristics of the market at the date of the financial statements. Qualitative adjustments or overlays may be made for certain portfolios or geographies as temporary adjustments in circumstances where, in the Bank’s view, the inputs, assumptions, and/or modelling techniques do not capture all relevant risk factors, including the emergence of economic or geopolitical events. The Bank has applied expert credit judgement in the assessment of underlying credit deterioration and migration of balances to progressive stages. The Bank considered both quantitative and qualitative information in the assessment of significant increase in credit risk. The Bank’s models are calibrated to consider past performance and macroeconomic forward-looking variables as inputs. The Bank has generated a forward-looking base case scenario and three alternate forward-looking scenarios (one optimistic and two pessimistic) as key inputs into the expected credit loss provisioning models. Relative to the base case, the optimistic scenario features somewhat stronger economic activity. The two pessimistic scenarios were updated this quarter around the potential risk of stagflation and recession. In light of current economic uncertainty, the pessimistic scenarios feature a protracted period of high commodity prices, elevated financial market uncertainty and a further disruption to supply chains. All these elements lead to much higher inflation compared to the baseline scenario resulting in a rapid deceleration of growth. In the pessimistic scenario, stagflation is short-lived, while in the very pessimistic scenario, a recession persists for a longer period of time. The following table shows certain key macroeconomic variables used to estimate the allowance for credit losses. For the base case, optimistic and pessimistic scenarios, the projections are provided for the next 12 months and for the remaining forecast period, which represents a medium-term view. Base Case Scenario Alternative Scenario - Alternative Scenario - Alternative Scenario - Very As at April 30, 2022 Next 12 Remaining Next 12 Remaining Next 12 Remaining Next 12 Remaining Canada Real GDP growth, y/y % change 4.6 2.0 6.6 2.9 -0.8 3.8 -2.2 2.7 Unemployment rate, average % 5.0 6.1 4.2 4.5 9.1 6.9 9.6 8.5 Bank of Canada overnight rate target, average % 2.2 2.4 2.8 3.4 3.5 3.0 3.5 3.4 HPI - Housing Price Index, y/y % change 16.6 -0.7 19.5 0.9 11.4 0.5 9.8 -0.5 USD/CAD 1.21 1.23 1.20 1.22 1.21 1.22 1.21 1.22 US Real GDP growth, y/y % change 3.9 1.9 5.3 2.6 -1.9 3.6 -3.5 2.9 Unemployment rate, average % 3.8 4.2 3.5 3.8 7.4 4.8 7.8 6.2 Mexico Real GDP growth, y/y % change 1.7 1.8 2.9 2.5 -3.7 3.2 -4.7 1.8 Unemployment rate, average % 4.0 3.9 3.6 3.0 7.4 4.9 7.7 6.5 Chile Real GDP growth, y/y % change 1.8 2.1 3.6 3.5 -3.2 3.6 -4.1 2.9 Unemployment rate, average % 6.2 5.9 5.7 5.2 9.9 6.4 10.7 7.0 Peru Real GDP growth, y/y % change 2.6 3.0 4.5 4.7 -1.2 4.1 -2.7 1.1 Unemployment rate, average % 7.8 7.0 6.9 4.2 10.5 8.0 11.7 12.0 Colombia Real GDP growth, y/y % change 4.3 3.5 5.8 5.1 0.5 4.7 -0.2 2.9 Unemployment rate, average % 10.8 10.3 10.1 7.9 13.3 11.2 13.6 13.6 Caribbean Real GDP growth, y/y % change 4.6 4.0 5.7 4.8 0.8 5.2 -0.6 3.9 Global WTI oil price, average USD/bbl 96 77 102 95 129 81 140 117 Copper price, average USD/lb 4.18 4.20 4.33 4.75 4.63 4.23 4.77 4.57 Global GDP, y/y % change 3.91 2.72 5.27 3.61 -1.35 4.27 -2.78 3.76 Base Case Scenario Alternative Scenario - Alternative Scenario - Alternative Scenario - V As at January 31, 2022 Next 12 Remaining Next 12 Remaining Next 12 Remaining Next 12 Remaining Canada Real GDP growth, y/y % change 4.2 1.6 6.1 2.5 0.0 2.7 -4.6 3.5 Unemployment rate, average % 5.2 5.5 4.5 4.0 7.7 6.1 10.6 8.0 Bank of Canada overnight rate target, average % 0.9 2.4 1.5 3.7 0.3 1.9 0.3 1.2 HPI - Housing Price Index, y/y % change 9.9 1.9 12.5 3.1 3.0 3.1 -3.5 3.7 USD/CAD 1.21 1.20 1.20 1.19 1.25 1.20 1.27 1.23 US Real GDP growth, y/y % change 4.2 1.9 5.4 2.6 1.2 2.7 -2.2 3.6 Unemployment rate, average % 4.1 4.2 3.9 3.8 5.8 4.8 7.1 6.2 Mexico Real GDP growth, y/y % change 2.8 1.9 4.4 2.0 0.0 2.5 -2.6 2.8 Unemployment rate, average % 4.0 3.8 3.4 3.2 6.5 4.3 9.4 6.2 Chile Real GDP growth, y/y % change 4.6 3.0 6.8 4.0 2.0 3.4 -2.4 4.2 Unemployment rate, average % 6.6 6.3 6.0 5.5 9.1 6.9 12.0 8.8 Peru Real GDP growth, y/y % change 2.6 3.0 4.5 3.8 -0.6 3.8 -4.5 4.9 Unemployment rate, average % 8.7 7.4 5.8 5.1 11.2 8.0 14.1 9.9 Colombia Real GDP growth, y/y % change 4.5 3.5 6.5 4.8 1.2 4.4 -2.6 5.4 Unemployment rate, average % 10.8 10.4 10.0 7.7 13.3 10.9 16.2 12.8 Caribbean Real GDP growth, y/y % change 4.8 4.0 6.4 4.1 2.0 4.6 -0.6 4.9 Global WTI oil price, average USD/bbl 69 71 75 87 59 66 56 59 Copper price, average USD/lb 4.25 4.15 4.46 4.72 3.95 3.89 3.82 3.56 Global GDP, y/y % change 4.32 3.57 5.66 4.47 1.96 4.17 -0.55 4.85 Base Case Scenario Alternative Scenario - Alternative Scenario - Alternative Scenario - Very As at October 31, 2021 Next 12 Remaining Next 12 Remaining Next 12 Remaining Next 12 Remaining Canada Real GDP growth, y/y % change 3.4 1.9 5.3 2.8 -1.3 3.1 -7.4 4.3 Unemployment rate, average % 6.3 5.7 5.6 4.1 8.8 6.3 11.7 8.2 Bank of Canada overnight rate target, average % 0.3 2.0 0.9 3.6 0.3 1.2 0.3 0.5 HPI - Housing Price Index, y/y % change 11.1 2.1 13.2 3.9 3.9 3.3 -2.7 3.9 USD/CAD 1.24 1.21 1.23 1.20 1.28 1.21 1.30 1.24 US Real GDP growth, y/y % change 5.7 1.6 7.3 2.1 2.4 2.4 -1.4 3.5 Unemployment rate, average % 3.8 3.5 3.4 3.2 5.6 4.1 6.8 5.6 Mexico Real GDP growth, y/y % change 2.8 1.9 4.3 2.7 -0.4 2.7 -4.2 3.8 Unemployment rate, average % 4.0 4.0 3.6 3.1 6.5 4.5 9.4 6.4 Chile Real GDP growth, y/y % change 6.7 2.2 8.8 3.1 3.4 3.1 -0.5 4.2 Unemployment rate, average % 6.5 6.2 5.9 5.6 9.0 6.7 12.0 8.6 Peru Real GDP growth, y/y % change 5.0 3.2 7.7 4.3 3.6 3.7 0.0 4.7 Unemployment rate, average % 8.8 7.5 6.0 3.4 10.8 8.1 13.8 10.0 Colombia Real GDP growth, y/y % change 5.0 3.5 6.8 4.8 3.6 4.0 0.0 5.0 Unemployment rate, average % 13.7 11.2 12.0 8.2 15.6 11.8 18.6 13.7 Caribbean Real GDP growth, y/y % change 4.9 4.1 6.2 4.9 3.9 4.6 0.3 5.6 Global WTI oil price, average USD/bbl 69 70 75 86 61 67 57 57 Copper price, average USD/lb 4.20 4.20 4.36 4.78 3.93 4.05 3.81 3.62 Global GDP, y/y % change 5.07 3.02 6.54 3.90 2.44 3.68 -0.69 4.48 (iii) Sensitivity Relative to our base case scenario, the very Under our current probability-weighted scenarios, if all of our performing financial assets were in Stage 1, reflecting a 12 month expected loss period, the allowance for credit losses would be $391 million (January 31, 2022 – $381 million; October 31, 2021 – $407 million) lower than the reported allowance for credit losses on performing financial assets. (iv) Allowance for credit losses Allowance for credit losses ($ millions) Balance as at Provision for Net write-offs Other, including Balance as at Residential mortgages $ 802 $ 32 $ (23 ) $ 23 $ 834 Personal loans 2,341 235 (451 ) 46 2,171 Credit cards 1,211 159 (277 ) 14 1,107 Business and government 1,374 15 (128 ) (3 ) 1,258 $ 5,728 $ 441 $ (879 ) $ 80 $ 5,370 Presented as: Allowance for credit losses on loans $ 5,626 $ 5,294 Allowance for credit losses on acceptances (1) 37 27 Allowance for credit losses on off-balance (2) 65 49 (1) Allowance for credit losses on acceptances are recorded against the financial asset in the Consolidated Statement of Financial Position. (2) Allowance for credit losses on off-balance ($ millions) Balance as at Provision for Net write-offs Other, including Balance as at Residential mortgages $ 884 $ 51 $ (49 ) $ (45 ) $ 841 Personal loans 3,155 611 (826 ) (134 ) 2,806 Credit cards 1,886 504 (761 ) (84 ) 1,545 Business and government 1,892 94 (179 ) (110 ) 1,697 $ 7,817 $ 1,260 $ (1,815 ) $ (373 ) $ 6,889 Presented as: Allowance for credit losses on loans $ 7,639 $ 6,716 Allowance for credit losses on acceptances (1) 77 73 Allowance for credit losses on off-balance (2) 101 100 (1) Allowance for credit losses on acceptances are recorded against the financial asset in the Consolidated Statement of Financial Position. (2) Allowance for credit loss e off-balance Allowance for credit losses on loans As at April 30, 2022 ($ millions) Stage 1 Stage 2 Stage 3 Total Residential mortgages $ 168 $ 273 $ 393 $ 834 Personal loans 655 950 566 2,171 Credit cards 419 688 – 1,107 Business and government 202 335 645 1,182 Total (1) $ 1,444 $ 2,246 $ 1,604 $ 5,294 (1) Excludes allowance for credit losses of $81 for other financial assets including acceptances, investment securities, deposits with banks, off-balance As at October 31, 2021 ($ millions) Stage 1 Stage 2 Stage 3 Total Residential mortgages $ 152 $ 276 $ 374 $ 802 Personal loans 644 1,071 626 2,341 Credit cards 352 859 – 1,211 Business and government 186 431 655 1,272 Total (1) $ 1,334 $ 2,637 $ 1,655 $ 5,626 (1) Excludes allowance for credit losses of $105 for other financial assets including acceptances, investment securities, deposits with banks and off-balance As at April 30, 2021 ($ millions) Stage 1 Stage 2 Stage 3 Total Residential mortgages $ 151 $ 280 $ 410 $ 841 Personal loans 699 1,286 821 2,806 Credit cards 319 1,226 – 1,545 Business and government 303 514 707 1,524 Total (1) $ 1,472 $ 3,306 $ 1,938 $ 6,716 (1) Excludes allowance for credit losses of $177 for other financial assets including acceptances, investment securities, deposits with banks and off-balance The following table presents the changes to the allowance for credit losses on loans. As at and for the three months ended April 30, 2022 April 30, 2021 ($ millions) Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Retail loans: Residential mortgages Balance at beginning of period $ 161 $ 279 $ 395 $ 835 $ 161 $ 297 $ 406 $ 864 Provision for credit losses Remeasurement (1) (15 ) 7 9 1 (30 ) 7 48 25 Newly originated or purchased financial assets 10 – – 10 10 – – 10 Derecognition of financial assets and maturities (1 ) (4 ) – (5 ) (2 ) (7 ) – (9 ) Changes in models and methodologies – – – – – – – – Transfer to (from): Stage 1 14 (12 ) (2 ) – 19 (15 ) (4 ) – Stage 2 (2 ) 9 (7 ) – (3 ) 17 (14 ) – Stage 3 – (3 ) 3 – – (11 ) 11 – Gross write-offs – – (16 ) (16 ) – – (22 ) (22 ) Recoveries – – 7 7 – – 6 6 Foreign exchange and other movements 1 (3 ) 4 2 (4 ) (8 ) (21 ) (33 ) Balance at end of period (2) $ 168 $ 273 $ 393 $ 834 $ 151 $ 280 $ 410 $ 841 Personal loans Balance at beginning of period $ 655 $ 1,020 $ 574 $ 2,249 $ 787 $ 1,514 $ 849 $ 3,150 Provision for credit losses Remeasurement (1) (162 ) 94 161 93 (264 ) 176 327 239 Newly originated or purchased financial assets 75 – – 75 154 – – 154 Derecognition of financial assets and maturities (17 ) (27 ) – (44 ) (67 ) (82 ) – (149 ) Changes in models and methodologies – – – – – – – – Transfer to (from): Stage 1 127 (125 ) (2 ) – 204 (200 ) (4 ) – Stage 2 (26 ) 39 (13 ) – (85 ) 104 (19 ) – Stage 3 (1 ) (49 ) 50 – (8 ) (184 ) 192 – Gross write-offs – – (275 ) (275 ) – – (547 ) (547 ) Recoveries – – 64 64 – – 64 64 Foreign exchange and other movements 4 (2 ) 7 9 (22 ) (42 ) (41 ) (105 ) Balance at end of period (2) $ 655 $ 950 $ 566 $ 2,171 $ 699 $ 1,286 $ 821 $ 2,806 Credit cards Balance at beginning of period $ 399 $ 766 $ – $ 1,165 $ 448 $ 1,467 $ – $ 1,915 Provision for credit losses Remeasurement (1) (37 ) 3 106 72 (177 ) 119 323 265 Newly originated or purchased financial assets 32 – – 32 19 – – 19 Derecognition of financial assets and maturities (10 ) (8 ) – (18 ) (17 ) (24 ) – (41 ) Changes in models and methodologies – – – – – – – – Transfer to (from): Stage 1 52 (52 ) – – 91 (91 ) – – Stage 2 (13 ) 13 – – (32 ) 32 – – Stage 3 – (33 ) 33 – – (228 ) 228 – Gross write-offs – – (186 ) (186 ) – – (587 ) (587 ) Recoveries – – 48 48 – – 42 42 Foreign exchange and other movements (4 ) (1 ) (1 ) (6 ) (13 ) (49 ) (6 ) (68 ) Balance at end of period (2) $ 419 $ 688 $ – $ 1,107 $ 319 $ 1,226 $ – $ 1,545 Total retail loans Balance at beginning of period $ 1,215 $ 2,065 $ 969 $ 4,249 $ 1,396 $ 3,278 $ 1,255 $ 5,929 Provision for credit losses Remeasurement (1) (214 ) 104 276 166 (471 ) 302 698 529 Newly originated or purchased financial assets 117 – – 117 183 – – 183 Derecognition of financial assets and maturities (28 ) (39 ) – (67 ) (86 ) (113 ) – (199 ) Changes in models and methodologies – – – – – – – – Transfer to (from): Stage 1 193 (189 ) (4 ) – 314 (306 ) (8 ) – Stage 2 (41 ) 61 (20 ) – (120 ) 153 (33 ) – Stage 3 (1 ) (85 ) 86 – (8 ) (423 ) 431 – Gross write-offs – – (477 ) (477 ) – – (1,156 ) (1,156 ) Recoveries – – 119 119 – – 112 112 Foreign exchange and other movements 1 (6 ) 10 5 (39 ) (99 ) (68 ) (206 ) Balance at end of period (2) $ 1,242 $ 1,911 $ 959 $ 4,112 $ 1,169 $ 2,792 $ 1,231 $ 5,192 Non-retail Business and government Balance at beginning of period $ 233 $ 411 $ 654 $ 1,298 $ 459 $ 600 $ 739 $ 1,798 Provision for credit losses Remeasurement (1) (23 ) (9 ) 72 40 (79 ) – 103 24 Newly originated or purchased financial assets 65 – – 65 79 – – 79 Derecognition of financial assets and maturities (55 ) (36 ) (7 ) (98 ) (85 ) (12 ) (1 ) (98 ) Changes in models and methodologies (1 ) 2 – 1 (4 ) (11 ) – (15 ) Transfer to (from): Stage 1 19 (19 ) – – 10 (10 ) – – Stage 2 (4 ) 4 – – (18 ) 19 (1 ) – Stage 3 – (3 ) 3 – – (3 ) 3 – Gross write-offs – – (73 ) (73 ) – – (105 ) (105 ) Recoveries – – 9 9 – – 8 8 Foreign exchange and other movements – 2 (13 ) (11 ) (9 ) (19 ) (39 ) (67 ) Balance at end of period including off-balance (2) $ 234 $ 352 $ 645 $ 1,231 $ 353 $ 564 $ 707 $ 1,624 Less: Allowance for credit losses on off-balance (3) (32 ) (17 ) – (49 ) (50 ) (50 ) – (100 ) Balance at end of period (2) $ 202 $ 335 $ 645 $ 1,182 $ 303 $ 514 $ 707 $ 1,524 The following table presents the changes to the allowance for credit losses on loans. As at and for the six months ended April 30, 2022 April 30, 2021 ($ millions) Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Retail loans: Residential mortgages Balance at beginning of period $ 152 $ 276 $ 374 $ 802 $ 190 $ 302 $ 392 $ 884 Provision for credit losses Remeasurement (1) (34 ) 18 38 22 (95 ) 36 107 48 Newly originated or purchased financial assets 20 – – 20 21 – – 21 Derecognition of financial assets and maturities (3 ) (7 ) – (10 ) (5 ) (13 ) – (18 ) Changes in models and methodologies – – – – – – – – Transfer to (from): Stage 1 33 (29 ) (4 ) – 51 (42 ) (9 ) – Stage 2 (4 ) 16 (12 ) – (6 ) 37 (31 ) – Stage 3 – (6 ) 6 – – (23 ) 23 – Gross write-offs – – (37 ) (37 ) – – (59 ) (59 ) Recoveries – – 14 14 – – 10 10 Foreign exchange and other movements 4 5 14 23 (5 ) (17 ) (23 ) (45 ) Balance at end of period (2) $ 168 $ 273 $ 393 $ 834 $ 151 $ 280 $ 410 $ 841 Personal loans Balance at beginning of period $ 644 $ 1,071 $ 626 $ 2,341 $ 864 $ 1,471 $ 820 $ 3,155 Provision for credit losses Remeasurement (1) (318 ) 189 305 176 (686 ) 712 579 605 Newly originated or purchased financial assets 150 – – 150 253 – – 253 Derecognition of financial assets and maturities (35 ) (56 ) – (91 ) (95 ) (152 ) – (247 ) Changes in models and methodologies – – – – – – – – Transfer to (from): Stage 1 257 (252 ) (5 ) – 605 (598 ) (7 ) – Stage 2 (56 ) 83 (27 ) – (177 ) 215 (38 ) – Stage 3 (2 ) (99 ) 101 – (39 ) (310 ) 349 – Gross write-offs – – (582 ) (582 ) – – (953 ) (953 ) Recoveries – – 131 131 – – 127 127 Foreign exchange and other movements 15 14 17 46 (26 ) (52 ) (56 ) (134 ) Balance at end of period (2) $ 655 $ 950 $ 566 $ 2,171 $ 699 $ 1,286 $ 821 $ 2,806 Credit cards Balance at beginning of period $ 352 $ 859 $ – $ 1,211 $ 501 $ 1,385 $ – $ 1,886 Provision for credit losses Remeasurement (1) (89 ) 8 215 134 (310 ) 377 474 541 Newly originated or purchased financial assets 60 – – 60 48 – – 48 Derecognition of financial assets and maturities (20 ) (15 ) – (35 ) (32 ) (53 ) – (85 ) Changes in models and methodologies – – – – – – – – Transfer to (from): Stage 1 139 (139 ) – – 204 (204 ) – – Stage 2 (26 ) 26 – – (75 ) 75 – – Stage 3 – (61 ) 61 – – (298 ) 298 – Gross write-offs – – (378 ) (378 ) – – (847 ) (847 ) Recoveries – – 101 101 – – 86 86 Foreign exchange and other movements 3 10 1 14 (17 ) (56 ) (11 ) (84 ) Balance at end of period (2) $ 419 $ 688 $ – $ 1,107 $ 319 $ 1,226 $ – $ 1,545 Total retail loans Balance at beginning of period $ 1,148 $ 2,206 $ 1,000 $ 4,354 $ 1,555 $ 3,158 $ 1,212 $ 5,925 Provision for credit losses Remeasurement (1) (441 ) 215 558 332 (1,091 ) 1,125 1,160 1,194 Newly originated or purchased financial assets 230 – – 230 322 – – 322 Derecognition of financial assets and maturities (58 ) (78 ) – (136 ) (132 ) (218 ) – (350 ) Changes in models and methodologies – – – – – – – – Transfer to (from): Stage 1 429 (420 ) (9 ) – 860 (844 ) (16 ) – Stage 2 (86 ) 125 (39 ) – (258 ) 327 (69 ) – Stage 3 (2 ) (166 ) 168 – (39 ) (631 ) 670 – Gross write-offs – – (997 ) (997 ) – – (1,859 ) (1,859 ) Recoveries – – 246 246 – – 223 223 Foreign exchange and other movements 22 29 32 83 (48 ) (125 ) (90 ) (263 ) Balance at end of period (2) $ 1,242 $ 1,911 $ 959 $ 4,112 $ 1,169 $ 2,792 $ 1,231 $ 5,192 Non-retail Business and government Balance at beginning of period $ 212 $ 470 $ 655 $ 1,337 $ 478 $ 592 $ 745 $ 1,815 Provision for credit losses Remeasurement (1) (53 ) (23 ) 148 72 (89 ) 21 209 141 Newly originated or purchased financial assets 121 – – 121 168 – – 168 Derecognition of financial assets and maturities (96 ) (56 ) (18 ) (170 ) (168 ) (25 ) (3 ) (196 ) Changes in models and methodologies (1 ) 2 – 1 (4 ) (11 ) – (15 ) Transfer to (from): Stage 1 61 (61 ) – – 28 (28 ) – – Stage 2 (12 ) 12 – – (42 ) 43 (1 ) – Stage 3 – (3 ) 3 – – (4 ) 4 – Gross write-offs – – (146 ) (146 ) – – (192 ) (192 ) Recoveries – – 18 18 – – 13 13 Foreign exchange and other movements 2 11 (15 ) (2 ) (18 ) (24 ) (68 ) (110 ) Balance at end of period including off-balance (2) $ 234 $ 352 $ 645 $ 1,231 $ 353 $ 564 $ 707 $ 1,624 Less: Allowance for credit losses on off-balance (3) (32 ) (17 ) – (49 ) (50 ) (50 ) – (100 ) Balance at end of period (2) $ 202 $ 335 $ 645 $ 1,182 $ 303 $ 514 $ 707 $ 1,524 (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 for the three months ended April 30, 2022 total (April 30, 2021 - $73) and for the six months ended April 30, 2022 totaled (April 30, 2021 - $151). (3) Allowance for credit losses on off-balance sheet exposures is recorded in other liabilities in the Consolidated Statement of Financial Position. CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (d) Carrying value of exposures by risk rating Residential As at April 30, 2022 As at October 31, 2021 Category of PD grades ($ millions) Stage 1 Stage 2 Stage 3 (1) Total Stage 1 Stage 2 Stage 3 (1) Total Very low $ 198,894 $ 2,104 $ – $ 200,998 $ 187,163 $ 5,610 $ – $ 192,773 Low 79,199 644 – 79,843 69,306 1,768 – 71,074 Medium 17,222 959 – 18,181 9,170 3,690 – 12,860 High 2,503 1,155 – 3,658 904 2,284 – 3,188 Very high 57 1,197 – 1,254 16 643 – 659 Loans not graded (2) 29,967 2,540 – 32,507 34,122 3,671 – 37,793 Default – – 1,273 1,273 – – 1,331 1,331 Total $ 327,842 $ 8,599 $ 1,273 $ 337,714 $ 300,681 $ 17,666 $ 1,331 $ 319,678 Allowance for credit losses 168 273 393 834 152 276 374 802 Carrying value $ 327,674 $ 8,326 $ 880 $ 336,880 $ 300,529 $ 17,390 $ 957 $ 318,876 (1) Stage 3 includes purchased or originated credit-impaired loans. (2) Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category. Personal loans As at April 30, 2022 As at October 31, 2021 Category of PD grades ($ millions) Stage 1 Stage 2 Stage 3 (1) Total Stage 1 Stage 2 Stage 3 (1) Total Very low $ 29,855 $ 150 $ – $ 30,005 $ 30,085 $ 168 $ – $ 30,253 Low 26,809 322 – 27,131 25,719 574 – 26,293 Medium 8,407 1,028 – 9,435 8,290 1,127 – 9,417 High 6,937 1,804 – 8,741 5,686 2,307 – 7,993 Very high 74 1,511 – 1,585 82 1,157 – 1,239 Loans not graded (2) 15,543 1,230 – 16,773 14,159 1,353 – 15,512 Default – – 767 767 – – 833 833 Total $ 87,625 $ 6,045 $ 767 $ 94,437 $ 84,021 $ 6,686 $ 833 $ 91,540 Allowance for credit losses 655 950 566 2,171 644 1,071 626 2,341 Carrying value $ 86,970 $ 5,095 $ 201 $ 92,266 $ 83,377 $ 5,615 $ 207 $ 89,199 (1) Stage 3 includes purchased or originated credit-impaired loans. (2) Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category. Credit cards As at April 30, 2022 As at October 31, 2021 Category of PD grades ($ millions) Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Very low $ 1,559 $ 52 $ – $ 1,611 $ 1,517 $ 76 $ – $ 1,593 Low 2,672 108 – 2,780 2,288 135 – 2,423 Medium 3,357 67 – 3,424 2,666 166 – 2,832 High 3,087 803 – 3,890 2,237 1,225 – 3,462 Very high 44 522 – 566 21 509 – 530 Loans not graded (1) 973 378 – 1,351 1,158 452 – 1,610 Default – – – – – – – – Total $ 11,692 $ 1,930 $ – $ 13,622 $ 9,887 $ 2,563 $ – $ 12,450 Allowance for credit losses 419 688 – 1,107 352 859 – 1,211 Carrying value $ 11,273 $ 1,242 $ – $ 12,515 $ 9,535 $ 1,704 $ – $ 11,239 (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 As at April 30, 2022 As at October 31, 2021 Category of PD grades ($ millions) Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Very low $ 93,791 $ 11 $ – $ 93,802 $ 88,308 $ 14 $ – $ 88,322 Low 20,251 8 – 20,259 17,880 12 – 17,892 Medium 7,734 33 – 7,767 6,858 36 – 6,894 High 3,785 316 – 4,101 3,103 745 – 3,848 Very high 41 321 – 362 24 212 – 236 Loans not graded (1) 8,682 1,314 – 9,996 9,126 2,204 – 11,330 Default – – – – – – – – Carrying value $ 134,284 $ 2,003 $ – $ 136,287 $ 125,299 $ 3,223 $ – $ 128,522 (1) Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category. Total retail loans As at April 30, 2022 As at October 31, 2021 Category of PD grades ($ millions) Stage 1 Stage 2 Stage 3 (1) Total Stage 1 Stage 2 Stage 3 (1) Total Very low $ 324,099 $ 2,317 $ – $ 326,416 $ 307,073 $ 5,868 $ – $ 312,941 Low 128,931 1,082 – 130,013 115,193 2,489 – 117,682 Medium 36,720 2,087 – 38,807 26,984 5,019 – 32,003 High 16,312 4,078 – 20,390 11,930 6,561 – 18,491 Very high 216 3,551 – 3,767 143 2,521 – 2,664 Loans not graded (2) 55,165 5,462 – 60,627 58,565 7,680 – 66,245 Default – – 2,040 2,040 – – 2,164 2,164 Total $ 561,443 $ 18,577 $ 2,040 $ 582,060 $ 519,888 $ 30,138 $ 2,164 $ 552,190 Allowance for credit losses 1,242 1,911 959 4,112 1,148 2,206 1,000 4,354 Carrying value $ 560,201 $ 16,666 $ 1,081 $ 577,948 $ 518,740 $ 27,932 $ 1,164 $ 547,836 (1) Stage 3 includes purchased or originated credit impaired loans. (2) Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category. Business and As at April 30, 2022 As at October 31, 2021 Grade ($ millions) Stage 1 Stage 2 Stage 3 (1) Total Stage 1 Stage 2 Stage 3 (1) Total Investment grade $ 133,757 $ 714 $ – $ 134,471 $ 110,786 $ 892 $ – $ 111,678 Non-investment 98,055 9,453 – 107,508 91,945 7,570 – 99,515 Watch list 24 2,742 – 2,766 31 3,266 – 3,297 Loans not graded (2) 2,243 11 – 2,254 2,151 11 – 2,162 Default – – 2,224 2,224 – – 2,292 2,292 Total $ 234,079 $ 12,920 $ 2,224 $ 249,223 $ 204,913 $ 11,739 $ 2,292 $ 218,944 Allowance for credit losses 202 335 645 1,182 186 431 655 1,272 Carrying value $ 233,877 $ 12,585 $ 1,579 $ 248,041 $ 204,727 $ 11,308 $ 1,637 $ 217,672 (1) Stage 3 includes purchased or originated credit-impaired loans. (2) Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category. Undrawn loan As at April 30, 2022 As at October 31, 2021 Grade ($ millions) Stage 1 Stage 2 Stage 3 (1) Total Stage 1 Stage 2 Stage 3 (1) Total Investment grade $ 197,941 $ 1,434 $ – $ 199,375 $ 186,056 $ 1,266 $ – $ 187,322 Non-investment 61,413 4,183 – 65,596 66,009 3,786 – 69,795 Watch list 1 1,174 – 1,175 12 2,160 – 2,172 Loans not graded (2) 4,082 – – 4,082 4,155 – – 4,155 Default – – 118 118 – – 102 102 Total $ 263,437 $ 6,791 $ 118 $ 270,346 $ 256,232 $ 7,212 $ 102 $ 263,546 Allowance for credit losses 32 17 – 49 26 39 – 65 Carrying value $ 263,405 $ 6,774 $ 118 $ 270,297 $ 256,206 $ 7,173 $ 102 $ 263,481 (1) Stage 3 includes purchased or originated credit-impaired loans. (2) Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category. Total non-retail As at April 30, 2022 As at October 31, 2021 Grade ($ millions) Stage 1 Stage 2 Stage 3 (1) Total Stage 1 Stage 2 Stage 3 (1) Total Investment grade $ 331,698 $ 2,148 $ – $ 333,846 $ 296,842 $ 2,158 $ – $ 299,000 Non-investment 159,468 13,636 – 173,104 157,954 11,356 – 169,310 Watch list 25 3,916 – 3,941 43 5,426 – 5,469 Loans not graded (2) 6,325 11 – 6,336 6,306 11 – 6,317 Default – – 2,342 2,342 – – 2,394 2,394 Total $ 497,516 $ 19,711 $ 2,342 $ 519,569 $ 461,145 $ 18,951 $ 2,394 $ 482,490 Allowance for credit losses 234 352 645 1,231 212 470 655 1,337 Carrying value $ 497,282 $ 19,359 $ 1,697 $ 518,338 $ 460,933 $ 18,481 $ 1,739 $ 481,153 (1) Stage 3 includes purchased or originated credit-impaired loans. (2) Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category. (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 April 30, 2022 (2) ($ millions) 31-60 61-90 91 days (3) Total Residential mortgages $ 797 $ 360 $ – $ 1,157 Personal loans 387 218 – 605 Credit cards 133 91 184 408 Business and government 111 87 – 198 Total $ 1,428 $ 756 $ 184 $ 2,368 As at January 31, 2022 (2) ($ millions) 31-60 61-90 91 days (3) Total Residential mortgages $ 791 $ 386 $ – $ 1,177 Personal loans 424 226 – 650 Credit cards 130 84 184 398 Business and government 71 30 – 101 Total $ 1,416 $ 726 $ 184 $ 2,326 As at October 31, 2021 (2) ($ millions) 31-60 61-90 91 days (3) Total Residential mortgages $ 732 $ 327 $ – $ 1,059 Personal loans 411 210 – 621 Credit cards 125 83 201 409 Business and government 124 24 – 148 Total $ 1,392 $ 644 $ 201 $ 2,237 (1) Loans past due 30 days or less are not presented in this analysis as they are not administratively considered past due. (2) For loans where payment deferrals were granted, deferred payments are not considered past due and such loans are not aged further during the deferral period. Regular ageing of the loans resumes, after the end of the deferral period. (3) 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) Purchased credit-impaired loans Certain financial assets including loans are credit-impaired on initial recognition. The following table provides details of such assets: As at ($ millions) April 30 January 31 October 31 Unpaid principal balance (1) $ 308 $ 310 $ 303 Credit related fair value adjustments (69 ) (69 ) (68 ) Carrying value 239 241 235 Stage 3 allowance (1 ) (1 ) (1 ) Carrying value net related allowance $ 238 $ 240 $ 234 (1) Represents principal amount owed net of write-offs. |
Derecognition of financial asse
Derecognition of financial assets | 6 Months Ended |
Apr. 30, 2022 | |
Text Block [Abstract] | |
Derecognition of financial assets | 8. 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 and 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. The Trust issues securities to third-party investors. The CMHC also purchased insured mortgage pools from the Bank under the Insured Mortgage Purchase Program (IMPP). The sale of mortgages under the above programs do not meet the derecognition requirements, where the Bank retains the pre-payment and interest rate risks associated with the mortgages, which represent substantially all the risks and rewards associated with the transferred assets. The following table provides the carrying amount of transferred assets that do not qualify for derecognition and the associated liabilities: As at ($ millions) April 30 (1) January 31 (1) October 31 (1) Assets Carrying value of residential mortgage loans $ 15,880 $ 16,565 $ 17,145 Other related assets (2) 9,225 9,690 9,787 Liabilities Carrying value of associated liabilities $ 24,510 $ 25,446 $ 25,833 (1) The fair value of the transferred assets is $23,769 (January 31, 2022 – $25,123; October 31, 2021 – $25,761) and the fair value of the associated liabilities is $23,882 (January 31, 2022 – $25,515; October 31, 2021 – $26,021) for a net position of $(113) (January 31, 2022 – $(392); October 31, 2021 – $(260)). (2) These include cash held in trust and trust permitted investment assets acquired as part of the principal reinvestment account that the Bank is required to maintain in order to participate in the programs. Securitization of personal lines of credit, credit cards and auto loans The Bank securitizes a portion of its credit card and auto loan receivables through consolidated structured entities. These receivables continue to be recognized on the Consolidated Statement of Financial Position as personal loans and credit card loans. During the quarter, the Bank did not enter into any new securitization arrangements. Securities sold under repurchase agreements and securities lent The Bank enters into transactions, such as repurchase agreements and securities lending agreements, where the Bank transfers assets under agreements to repurchase them on a future date and retains all the substantial risks and rewards associated with the assets. The transferred securities remain on the Consolidated Statement of Financial Position. The following table provides the carrying amount of the transferred assets and the associated liabilities: As at ($ millions) April 30 (1) January 31 (1) October 31 (1) Carrying value of securities associated with: Repurchase agreements (2) $ 106,452 $ 96,628 $ 100,083 Securities lending agreements 59,667 63,756 59,506 Total 166,119 160,384 159,589 Carrying value of associated liabilities (3) $ 131,978 $ 122,878 $ 123,469 (1) The fair value of transferred assets is $166,119 (January 31, 2022 – $160,384; October 31, 2021 – $159,589) and the fair value of the associated liabilities is $131,978 (January 31, 2022 – $122,878; October 31, 2021 – $123,469) for a net position of $34,141 (January 31, 2022 – $37,506; October 31, 2021 – $36,120). (2) Does not include over-collateralization of assets pledged. (3) Liabilities for securities lending arrangements only include amounts related to cash collateral received. In most cases, securities are received as collateral. |
Investments in associates
Investments in associates | 6 Months Ended |
Apr. 30, 2022 | |
Investments accounted for using equity method [abstract] | |
Investments in associates | 9. Investments in associates The Bank had significant investments in the following associates: As at April 30 January 31 October 31 ($ millions) Country of Nature of Ownership Date of financial (1) Carrying Carrying Carrying Canadian Tire Financial Services business (CTFS) (2) Canada Financial Services 20.00 % March 31, 2022 $ 546 $ 558 $ 549 Bank of Xi’an Co. Ltd. (3) China Banking 18.11 % March 31, 2022 1,033 1,034 968 Maduro & Curiel’s Bank N.V. (4) Curacao Banking 48.10 % March 31, 2022 402 388 366 (1) Represents the date of the most recent financial statements made available to the Bank by the associates’ management. (2) Canadian Tire has an option to sell to the Bank up to an additional 29% equity interest until the end of the 10th anniversary (October 1, 2024) at the then fair value, that can be settled, at the Bank’s discretion, by issuance of common shares or cash. After October 1, 2024 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) Based on the quoted price on the Shanghai Stock Exchange, the Bank’s Investment in Bank of Xi’an Co. Ltd. was $579 (January 31, 2022 – $675; October 31, 2021 – $671 ). The ownership percentage for Bank of Xi’an Co. was 18.11% as at January 31, 2022 and % as at October 31, 2021. (4) 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 April 30, 2022, these reserves amounted to $62 (January 31, 2022 – $ ; October 31, 2021 - $ ). |
Deposits
Deposits | 6 Months Ended |
Apr. 30, 2022 | |
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Deposits | 10. Deposits As at April 30, 2022 January 31 January 31 Payable on demand (1) Payable after (2) ($ millions) Interest- Non-interest- Payable on a (3) Total Total Total Personal $ 9,045 $ 10,512 $ 165,185 $ 68,105 $ 252,847 $ 247,067 $ 243,551 Business and government 166,454 36,886 42,316 323,612 569,268 559,616 511,348 Financial institutions 13,244 902 1,846 38,447 54,439 44,362 42,360 $ 188,743 $ 48,300 $ 209,347 (4) $ 430,164 $ 876,554 $ 851,045 $ 797,259 Recorded in: Canada $ 135,265 $ 28,383 $ 177,321 $ 281,918 $ 622,887 $ 603,352 $ 571,254 United States 41,340 143 924 52,404 94,811 100,715 87,626 United Kingdom – – 369 22,403 22,772 18,255 17,232 Mexico – 6,193 7,528 13,239 26,960 26,173 24,259 Peru 5,693 191 5,576 4,170 15,630 15,513 14,520 Chile 1,792 5,947 167 12,796 20,702 22,229 20,631 Colombia 37 637 4,996 4,216 9,886 9,578 9,184 Other International 4,616 6,806 12,466 39,018 62,906 55,230 52,553 Total (5) $ 188,743 $ 48,300 $ 209,347 $ 430,164 $ 876,554 $ 851,045 $ 797,259 (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 $157 (January 31, 2022 – (5) Deposits denominated in U.S. dollars amount to $306,726 (January 31, 2022 – (January 31, 2022 (January 31, 2022 – (January 31, 2022 – $ The following table presents the maturity schedule for term deposits in Canada greater than $100,000 (1) ($ millions) Within Three to Six to One to Over Total As at April 30, 2022 $ 46,662 $ 23,001 $ 50,159 $ 112,031 $ 22,406 $ 254,259 As at January 31, 2022 $ 46,763 $ 22,653 $ 36,392 $ 102,386 $ 21,922 $ 230,116 As at October 31, 2021 $ 34,829 $ 24,372 $ 30,918 $ 90,433 $ 20,688 $ 201,240 (1) The majority of foreign term deposits are in excess of $ 100,000 |
Capital and financing transacti
Capital and financing transactions | 6 Months Ended |
Apr. 30, 2022 | |
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Capital and financing transactions | 11. Capital and financing transactions Subordinated debentures Redemption On March 30, 2022, the Bank redeemed all outstanding $1,250 million 2.58% Subordinated Debentures (Non-Viability Contingent Capital (NVCC)) due March 30, 2027, at 100% of their principal amount plus accrued interest. Issuance On April 12, 2022, the Bank issued US Fixed Rate Resetting Subordinated Debentures due May 4, 2037 (Non-Viability Contingent Capital (NVCC)). The debentures are subject to optional redemption by the Bank during the period from April 12, 2027, to May 4, 2032, and following the occurrence of certain defined events. Interest will be payable semi-annually at a rate of 4.588% per annum from and including the issue date to, but excluding, May 4, 2032, and thereafter to, but excluding, May 4, 2037, at the then prevailing 5-Year U.S. Treasury Rate plus 2.050%. The debentures contain NVCC provisions necessary to qualify as Tier 2 regulatory capital under Basel III. On March 21, 2022, the Bank issued $1.75 billion 3.934% Subordinated Debentures due May 3, 2032 (Non-Viability Contingent Capital (NVCC)). The debentures are subject to optional redemption by the Bank on or after May 3, 2027, and following the occurrence of certain defined events. Interest will be payable semi-annually at a rate of 3.934% per annum from and including the issue date to, but excluding, May 3, 2027, and thereafter payable quarterly to, but excluding, May 3, 2032, at the Three-month Bankers’ Acceptance rate plus 1.52%. The debentures contain NVCC provisions necessary to qualify as Tier 2 regulatory capital under Basel III. Common shares Normal Course Issuer Bid On November 30, 2021, the Bank announced that OSFI and the Toronto Stock Exchange (TSX) approved its normal course issuer bid (the “2022 NCIB”) pursuant to which it may repurchase for cancellation up to 24 million of the Bank’s common shares. On March 28, 2022, the Bank announced that OSFI and the Toronto Stock Exchange (TSX) approved an amendment to the 2022 NCIB (the “2022 NCIB Amendment”) to increase the number of common shares that the Bank may repurchase for cancellation from 24 million to 36 million. Purchases under the 2022 NCIB commenced on December 2, 2021, and will terminate upon earlier of: (i) the Bank purchasing the maximum number of common shares under the 2022 NCIB Amendment, (ii) the Bank providing a notice of termination, or (iii) December 1, 2022. On a quarterly basis, the Bank will notify OSFI prior to making purchases. During the six months ended April 30, 2022, the Bank repurchased and cancelled approximately 26.3 million common shares at an average price of $88.76 per share for a total amount of $2,336 million. No repurchases of common shares were made during the six months ended April 30, 2021. |
Capital management
Capital management | 6 Months Ended |
Apr. 30, 2022 | |
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Capital management | 12. Capital management The Bank’s regulatory capital, total loss absorbing capacity and leverage measures were as follows: As at ($ millions) April 30 January 31 October 31 Capital (1) Common Equity Tier 1 capital $ 51,547 $ 52,150 $ 51,010 Net Tier 1 capital 57,201 57,911 57,915 Total regulatory capital 66,628 65,527 66,101 Total loss absorbing capacity (2) 133,841 122,613 115,681 Risk-weighted assets/exposures used in calculation of capital ratios Risk-weighted assets (1)(3) $ 445,273 $ 433,682 $ 416,105 Leverage exposures (4) 1,360,184 1,308,247 1,201,766 Regulatory ratios (1) Common Equity Tier 1 capital ratio 11.6 % 12.0 % 12.3 % Tier 1 capital ratio 12.8 % 13.4 % 13.9 % Total capital ratio 15.0 % 15.1 % 15.9 % Total loss absorbing capacity ratio (2) 30.1 % 28.3 % 27.8 % Leverage ratio (4) 4.2 % 4.4 % 4.8 % Total loss absorbing capacity leverage ratio (2) 9.8 % 9.4 % 9.6 % (1) This measure has been disclosed in this document in accordance with OSFI Guideline – Capital Adequacy Requirements (November 2018). (2) This measure has been disclosed in this document in accordance with OSFI Guideline – Total Loss Absorbing Capacity (September 2018). Results for October 31, 2021 are shown for comparative purposes and were not a regulatory requirement. (3) As at April 30, 2022, January 31, 2022 and October 31, 2021, the Bank did not have a regulatory capital floor add-on for CET1, Tier 1, Total capital and TLAC RWA. (4) This measure has been disclosed in this document in accordance with OSFI Guideline – Leverage Requirements (November 2018). The Bank substantially exceeded the OSFI minimum regulatory capital and total loss absorbing capacity (TLAC) ratios as at April 30, 2022, including the Domestic Stability Buffer requirement. In addition, the Bank substantially exceeded OSFI minimum leverage and TLAC leverage ratios as at April 30, 2022. |
Share-based payments
Share-based payments | 6 Months Ended |
Apr. 30, 2022 | |
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Share-based payments | 13. Share-based payments During the first quarter, the Bank granted 1,716,536 options with an exercise price of $85.46 per option and a weighted average fair value of $7.54 to select 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 $2 million and $8 million for the three months and six months ended April 30, 2022 (April 30, 2021 – $1 million and $5 million), respectively, as a result of equity-classified share-based payment expense. |
Employee benefits
Employee benefits | 6 Months Ended |
Apr. 30, 2022 | |
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Employee benefits | 14. Employee benefits Employee benefits include pensions, other post-retirement benefits, and post-employment benefits. The following table summarizes the expenses for the Bank’s principal plans (1) For the three months ended Pension plans Other benefit plans ($ millions) April 30 January 31 April 30 April 30 January 31 April 30 Defined benefit service cost $ 78 $ 79 $ 95 $ 6 $ 5 $ 6 Interest on net defined benefit (asset) liability (2 ) (1 ) 10 11 12 11 Other 4 4 3 (5 ) (2 ) (4 ) Defined benefit expense $ 80 $ 82 $ 108 $ 12 $ 15 $ 13 Defined contribution expense $ 31 $ 30 $ 26 $ – $ – $ – Increase (decrease) in other comprehensive income related to employee benefits (2) $ 936 $ 109 $ 814 $ 119 $ 39 $ 73 For the six months ended Pension plans Other benefit plans ($ millions) April 30 April 30 April 30 April 30 Defined benefit service cost $ 157 $ 190 $ 11 $ 12 Interest on net defined benefit (asset) liability (3 ) 19 23 22 Other 8 6 (7 ) (4 ) Defined benefit expense $ 162 $ 215 $ 27 $ 30 Defined contribution expense $ 61 $ 49 $ – $ – Increase (decrease) in other comprehensive income related to employee benefits (2) $ 1,045 $ 1,451 $ 158 $ 77 (1) Other plans operated by certain subsidiaries of the Bank are not considered material and are not included in this note. (2) 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 | 6 Months Ended |
Apr. 30, 2022 | |
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Operating segments | 15. 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 four business lines: Canadian Banking, International Banking, Global Banking and Markets, and Global Wealth Management. Other smaller business segments are included in the Other segment. 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 2021 Annual Report. Notable accounting measurement differences are: • tax normalization adjustments related to the gross-up of income from associated corporations. This adjustment normalizes the effective tax rate in the divisions to better present the contribution of the associated companies to the divisional results. • the grossing up of tax-exempt net interest income and non-interest income to an equivalent before-tax basis for those affected segments. This change in measurement enables comparison of net interest income and non-interest income arising from taxable and tax-exempt sources. For the three months ended April 30, 2022 Taxable equivalent basis ($ millions) Canadian International Global Global Other (1) Total Net interest income (2) $ 2,144 $ 1,687 $ 184 $ 360 $ 98 $ 4,473 Non-interest income (3)(4) 759 720 1,174 902 (86 ) 3,469 Total revenues 2,903 2,407 1,358 1,262 12 7,942 Provision for credit losses (12 ) 276 1 (46 ) – 219 Non-interest expenses 1,324 1,268 803 653 111 4,159 Provision for income taxes 412 182 145 167 (89 ) 817 Net income $ 1,179 $ 681 $ 409 $ 488 $ (10 ) $ 2,747 Net income attributable to non-controlling interests in $ – $ 76 $ 2 $ – $ – $ 78 Net income attributable to equity holders of the Bank $ 1,179 $ 605 $ 407 $ 488 $ (10 ) $ 2,669 Average assets ($ billions) $ 423 $ 204 $ 32 $ 431 $ 174 $ 1,264 Average liabilities ($ billions) $ 326 $ 149 $ 48 $ 400 $ 269 $ 1,192 (1) Includes all other smaller operating segments and corporate adjustments, such as the elimination of the tax-exempt income gross-up reported in net interest income and non-interest income and provision for income taxes of $92 to arrive at the amounts reported in the Consolidated Statement of Income, differences in the actual amount of costs incurred and charged to the operating segments. (2) Interest income is reported net of interest expense as management relies primarily on net interest income as a performance measure. (3) Card revenues and Banking services fees are mainly earned in Canadian and International Banking. Mutual fund, Brokerage fees and Investment management and trust fees are primarily earned in Global Wealth Management. 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 – $18, International Banking – $77, Global Wealth Management – $5, and Other – $(16). For the three months ended January 31, 2022 Taxable equivalent basis ($ millions) Canadian International Global Global Other (1) Total Net interest income (2) $ 2,133 $ 1,648 $ 174 $ 373 $ 16 $ 4,344 Non-interest income (3)(4) 741 749 1,248 1,031 (64 ) 3,705 Total revenues 2,874 2,397 1,422 1,404 (48 ) 8,049 Provision for credit losses (35 ) 274 (1 ) (16 ) – 222 Non-interest expenses 1,282 1,285 862 670 124 4,223 Provision for income taxes 426 208 146 189 (105 ) 864 Net income $ 1,201 $ 630 $ 415 $ 561 $ (67 ) $ 2,740 Net income attributable to non-controlling interests in subsidiaries $ – $ 85 $ 3 $ – $ – $ 88 Net income attributable to equity holders of the Bank $ 1,201 $ 545 $ 412 $ 561 $ (67 ) $ 2,652 Average assets ($ billions) $ 412 $ 196 $ 31 $ 444 $ 156 $ 1,239 Average liabilities ($ billions) $ 320 $ 144 $ 47 $ 407 $ 247 $ 1,165 (1) Includes all other smaller operating segments and corporate adjustments, such as the elimination of the tax-exempt income gross-up reported in net interest income and non-interest income and provision for income taxes of $92 to arrive at the amounts reported in the Consolidated Statement of Income, differences in the actual amount of costs incurred and charged to the operating segments. (2) Interest income is reported net of interest expense as management relies primarily on net interest income as a performance measure. (3) Card revenues and Banking services fees are mainly earned in Canadian and International Banking. Mutual fund, Brokerage fees and Investment management and trust fees are primarily earned in Global Wealth Management. 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 – $8, International Banking – $68, Global Wealth Management – $1, and Other – $14. For the three months ended April 30, 2021 Taxable equivalent basis ($ millions) Canadian International Global Global Other (1) Total Net interest income (2) $ 1,934 $ 1,662 $ 152 $ 350 $ 78 $ 4,176 Non-interest income (3)(4) 690 716 1,156 907 91 3,560 Total revenues 2,624 2,378 1,308 1,257 169 7,736 Provision for credit losses 145 396 (2 ) (43 ) – 496 Non-interest expenses 1,229 1,294 802 633 84 4,042 Provision for income taxes 323 181 134 150 (46 ) 742 Net income $ 927 $ 507 $ 374 $ 517 $ 131 $ 2,456 Net income attributable to non-controlling interests in subsidiaries $ – $ 87 $ 2 $ – $ 1 $ 90 Net income attributable to equity holders of the Bank $ 927 $ 420 $ 372 $ 517 $ 130 $ 2,366 Average assets ($ billions) $ 372 $ 194 $ 28 $ 399 $ 158 $ 1,151 Average liabilities ($ billions) $ 311 $ 149 $ 45 $ 398 $ 177 $ 1,080 (1) Includes all other smaller operating segments and corporate adjustments, such as the elimination of the tax-exempt income gross-up reported in net interest income and non-interest income and provision for income taxes of $76 to arrive at the amounts reported in the Consolidated Statement of Income, differences in the actual amount of costs incurred and charged to the operating segments. (2) Interest income is reported net of interest expense as management relies primarily on net interest income as a performance measure. (3) Card revenues and Banking services fees are mainly earned in Canadian and International Banking. Mutual fund, Brokerage fees and Investment management and trust fees are primarily earned in Global Wealth Management. 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 – $26, International Banking – $53, Global Wealth Management – $4, and Other – $30. For the six months ended April 30, 2022 Taxable equivalent basis ($ millions) Canadian International Global Global Other (1) Total Net interest income (2) $ 4,277 $ 3,335 $ 358 $ 733 $ 114 $ 8,817 Non-interest income (3)(4) 1,500 1,469 2,422 1,933 (150 ) 7,174 Total revenues 5,777 4,804 2,780 2,666 (36 ) 15,991 Provision for credit losses (47 ) 550 – (62 ) – 441 Non-interest expenses 2,606 2,553 1,665 1,323 235 8,382 Provision for income taxes 838 390 291 356 (194 ) 1,681 Net income $ 2,380 $ 1,311 $ 824 $ 1,049 $ (77 ) $ 5,487 Net income attributable to non-controlling interests in subsidiaries $ – $ 161 $ 5 $ – $ – $ 166 Net income attributable to equity holders of the Bank $ 2,380 $ 1,150 $ 819 $ 1,049 $ (77 ) $ 5,321 Average assets ($ billions) $ 417 $ 200 $ 32 $ 438 $ 164 $ 1,251 Average liabilities ($ billions) $ 323 $ 146 $ 48 $ 403 $ 258 $ 1,178 (1) Includes all other smaller operating segments and corporate adjustments, such as the elimination of the tax-exempt income gross-up reported in net interest income and non-interest income and provision for income taxes of $184 to arrive at the amounts reported in the Consolidated Statement of Income, differences in the actual amount of costs incurred and charged to the operating segments. (2) Interest income is reported net of interest expense as management relies primarily on net interest income as a performance measure. (3) Card revenues and Banking services fees are mainly earned in Canadian and International Banking. Mutual fund, Brokerage fees and Investment management and trust fees are primarily earned in Global Wealth Management. 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 – $26, International Banking – $145, Global Wealth Management – $6, and Other – $ ( ) For the six months ended April 30, 2021 Taxable equivalent basis ($ millions) Canadian International Global Wealth Global Other (1) Total Net interest income (2) $ 3,918 $ 3,450 $ 307 $ 708 $ 144 $ 8,527 Non-interest income (3)(4) 1,354 1,489 2,391 1,885 162 7,281 Total revenues 5,272 4,939 2,698 2,593 306 15,808 Provision for credit losses 360 921 2 (23 ) – 1,260 Non-interest expenses 2,433 2,696 1,619 1,247 255 8,250 Provision for income taxes 641 338 282 309 (126 ) 1,444 Net income $ 1,838 $ 984 $ 795 $ 1,060 $ 177 $ 4,854 Net income attributable to non-controlling interests in subsidiaries $ – $ 175 $ 5 $ – $ – $ 180 Net income attributable to equity holders of the Bank $ 1,838 $ 809 $ 790 $ 1,060 $ 177 $ 4,674 Average assets ($ billions) $ 370 $ 197 $ 28 $ 397 $ 162 $ 1,154 Average liabilities ($ billions) $ 308 $ 151 $ 43 $ 393 $ 188 $ 1,083 (1) Includes all other smaller operating segments and corporate adjustments, such as the elimination of the tax-exempt income gross-up reported in net interest income and non-interest income and provision for income taxes of $145 to arrive at the amounts reported in the Consolidated Statement of Income, differences in the actual amount of costs incurred and charged to the operating segments. (2) Interest income is reported net of interest expense as management relies primarily on net interest income as a performance measure. (3) Card revenues and Banking services fees are mainly earned in Canadian and International Banking. Mutual fund, Brokerage fees and Investment management and trust fees are primarily earned in Global Wealth Management. 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 – $46, International Banking – $102, Global Wealth Management – $7, and Other – $15. |
Interest income and expense
Interest income and expense | 6 Months Ended |
Apr. 30, 2022 | |
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Interest income and expense | 16. Interest income and expense For the three months ended For the six months ended April 30, 2022 January 31, 2022 April 30, 2021 April 30, 2022 April 30, 2021 ($ millions) Interest Interest Interest Interest Interest Interest Interest income Interest Interest Interest Measured at amortized cost (1) $ 6,654 $ 2,581 $ 6,150 $ 2,069 $ 5,897 $ 1,962 $ 12,804 $ 4,650 $ 12,109 $ 4,088 Measured at FVOCI (1) 261 – 181 – 181 – 442 – 369 – 6,915 2,581 6,331 2,069 6,078 1,962 13,246 4,650 12,478 4,088 Other 177 (2) 38 (3) 132 (2) 50 (3) 109 (2) 49 (3) 309 (2) 88 (3) 221 (2) 84 (3) Total $ 7,092 $ 2,619 $ 6,463 $ 2,119 $ 6,187 $ 2,011 $ 13,555 $ 4,738 $ 12,699 $ 4,172 (1) The interest income/expense on financial assets/liabilities are calculated using the effective interest method. (2) Includes dividend income on equity securities. (3) Includes interest on lease liabilities for the three months ended April 30, 2022 – $26 (January 31, 2022 – $27; April 30, 2021 – $27) and for the six months ended April 30, 2022 – $53 (April 30, 2021 – $54). |
Earnings per share
Earnings per share | 6 Months Ended |
Apr. 30, 2022 | |
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Earnings per share | 17. Earnings per share For the three months ended For the six months ended ($ millions) April 30 January 31 April 30 April 30 April 30 Basic earnings per common share Net income attributable to common shareholders $ 2,595 $ 2,608 $ 2,289 $ 5,203 $ 4,554 Weighted average number of common shares outstanding (millions) 1,199 1,211 1,213 1,205 1,213 Basic earnings per common share (1) (in dollars) $ 2.16 $ 2.15 $ 1.89 $ 4.32 $ 3.76 Diluted earnings per common share Net income attributable to common shareholders $ 2,595 $ 2,608 $ 2,289 $ 5,203 $ 4,554 Dilutive impact of share-based payment options and others (2) – 24 13 67 116 Net income attributable to common shareholders (diluted) $ 2,595 $ 2,632 $ 2,302 $ 5,270 $ 4,670 Weighted average number of common shares outstanding (millions) 1,199 1,211 1,213 1,205 1,213 Dilutive impact of share-based payment options and others (2) (millions) 2 19 10 20 35 Weighted average number of diluted common shares outstanding (millions) 1,201 1,230 1,223 1,225 1,248 Diluted earnings per common share (1) (in dollars) $ 2.16 $ 2.14 $ 1.88 $ 4.30 $ 3.74 (1) Earnings per share calculations are based on full dollar and share amounts. (2) Certain 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 | 6 Months Ended |
Apr. 30, 2022 | |
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Financial instruments | 18. 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, 2021. (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 exposures and product type for retail exposures. Exposure at default (1) As at April 30, 2022 January 31 October 31 ($ millions) AIRB Standardized Total Total Total By exposure sub-type Non-retail Drawn (2)(3) $ 446,169 $ 66,748 $ 512,917 $ 493,548 $ 459,902 Undrawn commitments 116,895 3,806 120,701 118,970 117,213 Other exposures (4) 110,511 7,771 118,282 121,331 119,923 Total non-retail $ 673,575 $ 78,325 $ 751,900 $ 733,849 $ 697,038 Retail Drawn (5) $ 271,657 $ 99,421 $ 371,078 $ 360,789 $ 345,947 Undrawn commitments 54,321 – 54,321 52,994 51,020 Total retail $ 325,978 $ 99,421 $ 425,399 $ 413,783 $ 396,967 Total $ 999,553 $ 177,746 $ 1,177,299 $ 1,147,632 $ 1,094,005 (1) After credit risk mitigation and excludes equity securities and other assets. (2) Non-retail AIRB drawn exposures include government guaranteed and privately insured mortgages. (3) Non-retail drawn includes loans, bankers’ acceptances, deposits with financial institutions and FVOCI debt securities. (4) Includes off-balance sheet lending instruments such as letters of credit, letters of guarantee, securitizations, over-the-counter derivatives and repo-style transactions net of related collateral. (5) Retail drawn includes residential mortgages, credit cards, lines of credit and other personal loans. Credit quality of non-retail exposures The Bank’s non-retail portfolio is well diversified by industry. A significant portion of the authorized corporate and commercial lending portfolio was internally assessed at a grade that would generally equate to an investment grade rating by external rating agencies. There has not been a significant change in concentrations of credit risk since October 31, 2021. 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 April 30, 2022, 28 % (January 31, 2022 – %; October 31, 2021 – %) of the Canadian residential mortgage portfolio is insured. The average loan-to-value ratio of the uninsured portion of the Canadian residential mortgage portfolio is 47% (January 31, 2022 – 49%; October 31, 2021 – 49%). Retail standardized portfolio The retail standardized portfolio of $99 billion as at April 30, 2022 (January 31, 2022 – $97 billion; October 31, 2021 – $91 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, $60 billion (January 31, 2022 – $59 billion; October 31, 2021 – $55 billion) was represented by mortgages and loans secured by residential real estate, mostly with a loan-to-value ratio of below 80%. (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. Scotiabank Second Quarter Report 2022 81 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 changes in customers’ preferences (e.g. mortgage prepayment rates). Non-trading foreign currency risk Foreign currency risk is the risk of loss due to changes in spot and forward rates. As at April 30, 2022, 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 annual earnings by approximately $39 million due primarily from exposure to U.S. dollars and Chilean Pesos (January 31, 2022 – $ million; April 30, 2021 – $ million) and the effect of which is not hedged. A similar change in the Canadian dollar as at April 30, 2022, would increase (decrease) the unrealized foreign currency translation losses in the accumulated other comprehensive income section of shareholders’ equity by approximately $331 million (January 31, 2022 – $329 million; April 30, 2021 – $336 million), net of hedging. Non-trading equity risk Equity risk is the risk of loss due to adverse movements in equity prices. The Bank is exposed to equity risk through its investment equity portfolios. The fair value of investment equity securities is shown in Note 6. Trading portfolio risk management The table below shows the Bank’s VaR by risk factor along with Stressed VaR: For the three months ended As at As at April 30, 2022 April 30 January 31 April 30 ($ millions) Average High Low 2022 2022 2021 Credit spread plus interest rate $ 10.4 $ 13.7 $ 7.2 $ 10.2 $ 14.0 $ 10.8 Credit spread 5.7 8.6 4.0 5.5 5.9 4.8 Interest rate 9.6 14.6 7.8 9.6 14.1 13.9 Equities 4.0 6.8 1.7 5.1 2.2 9.4 Foreign exchange 2.0 3.7 1.3 1.8 1.4 3.0 Commodities 2.8 5.6 1.3 5.6 1.7 4.1 Debt specific 2.1 2.6 1.7 2.0 2.0 2.3 Diversification effect (9.4 ) – – (12.0 ) (7.4 ) (13.0 ) Total VaR $ 11.9 $ 15.6 $ 7.8 $ 12.7 $ 13.9 $ 16.6 Total Stressed VaR $ 26.4 $ 41.0 $ 16.8 $ 25.7 $ 24.7 $ 37.6 (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 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 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) April 30 January 31 April 30 April 30 January 31 April 30 April 30 January 31 April 30 Liabilities Senior note liabilities (2) $ 21,927 $ 23,979 $ 20,406 $ 3,913 $ 902 $ 197 $ 4,108 $ 195 $ (350 ) (1) The cumulative change in fair value is measured from the instruments’ date of initial recognition. (2) 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 income – trading revenues. The offsetting fair value changes from associated derivatives is also recorded in non-interest income – trading revenues. 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 Carrying value Difference Changes in fair value Cumulative changes (1) As at April 30, 2022 $ 26,035 $ 21,927 $ 4,108 $ 787 $ 289 As at January 31, 2022 $ 24,174 $ 23,979 $ 195 $ 231 $ (498 ) As at April 30, 2021 $ 20,056 $ 20,406 $ (350 ) $ (140 ) $ (777 ) (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 audited consolidated financial statements in the 2021 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 assets, such as property and equipment, investments in associates, precious metals, goodwill and other intangible assets. As at April 30, 2022 January 31, 2022 October 31, 2021 ($ millions) Total fair Total Total fair Total Total fair Total Assets: Cash and deposits with financial institutions $ 85,910 $ 85,910 $ 99,053 $ 99,053 $ 86,323 $ 86,323 Trading assets 133,644 133,644 152,947 152,947 146,312 146,312 Securities purchased under resale agreements and securities borrowed 148,706 148,706 132,714 132,714 127,739 127,739 Derivative financial instruments 54,608 54,608 40,655 40,655 42,302 42,302 Investment securities – fair value 83,788 83,788 64,123 64,123 57,042 57,042 Investment securities – amortized cost 16,107 16,699 17,453 17,576 18,133 18,157 Loans 684,215 689,702 666,622 667,338 641,964 636,986 Customers’ liability under acceptances 19,043 19,043 20,901 20,901 20,404 20,404 Other financial assets 19,349 19,349 14,625 14,625 14,256 14,256 Liabilities: Deposits 869,308 876,554 848,941 851,045 798,335 797,259 Financial instruments designated at fair value through profit or loss 21,927 21,927 23,979 23,979 22,493 22,493 Acceptances 19,070 19,070 20,934 20,934 20,441 20,441 Obligations related to securities sold short 44,620 44,620 46,133 46,133 40,954 40,954 Derivative financial instruments 57,123 57,123 39,697 39,697 42,203 42,203 Obligations related to securities sold under repurchase agreements and securities lent 131,978 131,978 122,878 122,878 123,469 123,469 Subordinated debentures 8,360 8,447 6,666 6,338 6,733 6,334 Other financial liabilities 41,679 41,949 44,078 44,348 39,802 40,254 (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 transactions, as well as transactions in inactive or illiquid markets. In these instances, internal models that maximize the use of observable inputs are used to estimate fair value. The chosen valuation technique incorporates all the factors that market participants would take into account in pricing a transaction. When all significant inputs to models are observable, the valuation is classified as Level 2. Financial instruments traded in a less active market are valued using indicative market prices or other valuation techniques. Fair value estimates do not consider forced or liquidation sales. Where financial instruments trade in inactive markets, illiquid 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 classified as Level 3. The following table outlines the fair value hierarchy and instruments carried at fair value on a recurring basis. As at April 30, 2022 January 31, 2022 ($ 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) $ – $ 1,056 $ – $ 1,056 $ – $ 527 $ – $ 527 Trading assets Loans – 8,483 – 8,483 – 8,494 – 8,494 Canadian federal government and government guaranteed debt 7,630 3,716 – 11,346 6,228 3,626 – 9,854 Canadian provincial and municipal debt 4,000 4,608 – 8,608 3,935 5,039 – 8,974 US treasury and other US agencies’ debt 7,552 100 – 7,652 9,601 48 – 9,649 Other foreign governments’ debt 76 9,106 – 9,182 159 8,059 – 8,218 Corporate and other debt 2,667 9,070 1 11,738 2,529 9,191 2 11,722 Equity securities 74,813 71 3 74,887 94,478 123 3 94,604 Other – 1,748 – 1,748 – 1,432 – 1,432 $ 96,738 $ 36,902 $ 4 $ 133,644 $ 116,930 $ 36,012 $ 5 $ 152,947 Investment securities (2) Canadian federal government and government guaranteed debt $ 5,011 $ 4,700 $ – $ 9,711 $ 3,992 $ 4,412 $ – $ 8,404 Canadian provincial and municipal debt 1,711 3,490 – 5,201 1,336 4,007 – 5,343 US treasury and other US agencies’ debt 33,515 2,019 – 35,534 13,925 2,238 – 16,163 Other foreign governments’ debt 189 26,261 17 26,467 153 27,998 18 28,169 Corporate and other debt 36 1,406 60 1,502 69 1,108 24 1,201 Equity securities 3,659 233 1,481 5,373 3,157 233 1,453 4,843 $ 44,121 $ 38,109 $ 1,558 $ 83,788 $ 22,632 $ 39,996 $ 1,495 $ 64,123 Derivative financial instruments Interest rate contracts $ – $ 9,923 $ 8 $ 9,931 $ – $ 12,568 $ 2 $ 12,570 Foreign exchange and gold contracts – 26,027 – 26,027 – 16,833 – 16,833 Equity contracts 251 8,273 26 8,550 334 3,964 20 4,318 Credit contracts – 487 – 487 – 342 – 342 Commodity contracts – 9,602 11 9,613 – 6,585 7 6,592 $ 251 $ 54,312 $ 45 $ 54,608 $ 334 $ 40,292 $ 29 $ 40,655 Liabilities: Deposits $ – $ 106 $ – $ 106 $ – $ 174 $ – $ 174 Financial liabilities designated at fair value through profit or loss – 21,840 87 21,927 – 23,842 137 23,979 Obligations related to securities sold short 38,131 6,487 2 44,620 38,114 8,017 2 46,133 Derivative financial instruments Interest rate contracts – 17,835 7 17,842 – 13,494 17 13,511 Foreign exchange and gold contracts – 27,261 – 27,261 – 17,374 – 17,374 Equity contracts 524 2,904 6 3,434 364 3,069 4 3,437 Credit contracts – 27 – 27 – 26 – 26 Commodity contracts – 8,553 6 8,559 – 5,341 8 5,349 $ 524 $ 56,580 $ 19 $ 57,123 $ 364 $ 39,304 $ 29 $ 39,697 (1) The fair value of precious metals is determined based on quoted market prices and forward spot prices, where applicable. (2) Excludes debt investment securities measured at amortized cost of $16,699 (January 31, 2022 – $17,576). As at October 31, 2021 ($ millions) Level 1 Level 2 Level 3 Total Instruments carried at fair value on a recurring basis: Assets: Precious metals (1) $ – $ 755 $ – $ 755 Trading assets Loans – 8,113 – 8,113 Canadian federal government and government guaranteed debt 9,272 3,842 – 13,114 Canadian provincial and municipal debt 5,556 4,298 – 9,854 US treasury and other US agencies’ debt 6,760 63 – 6,823 Other foreign governments’ debt 129 9,559 – 9,688 Corporate and other debt 2,595 9,185 40 11,820 Equity securities 85,688 160 1 85,849 Other – 1,051 – 1,051 $ 110,000 $ 36,271 $ 41 $ 146,312 Investment securities (2) Canadian federal government and government guaranteed debt $ 1,125 $ 4,679 $ – $ 5,804 Canadian provincial and municipal debt 1,937 3,218 – 5,155 US treasury and other US agencies’ debt 11,462 2,175 – 13,637 Other foreign governments’ debt 67 26,605 17 26,689 Corporate and other debt 10 1,319 27 1,356 Equity securities 2,879 218 1,304 4,401 $ 17,480 $ 38,214 $ 1,348 $ 57,042 Derivative financial instruments Interest rate contracts $ – $ 13,124 $ 1 $ 13,125 Foreign exchange and gold contracts – 18,293 – 18,293 Equity contracts 184 3,513 21 3,718 Credit contracts – 245 – 245 Commodity contracts – 6,921 – 6,921 $ 184 $ 42,096 $ 22 $ 42,302 Liabilities: Deposits $ – $ 175 $ – $ 175 Financial liabilities designated at fair value through profit or loss – 22,354 139 22,493 Obligations related to securities sold short 35,487 5,467 – 40,954 Derivative financial instruments Interest rate contracts – 13,148 15 13,163 Foreign exchange and gold contracts – 18,171 – 18,171 Equity contracts 307 4,737 6 5,050 Credit contracts – 30 – 30 Commodity contracts – 5,789 – 5,789 $ 307 $ 41,875 $ 21 $ 42,203 (1) The fair value of precious metals is determined based on quoted market prices and forward spot prices, where applicable. (2) Excludes debt investment securities measured at amortized cost of $18,157. Level 3 instrument fair value changes Financial instruments categorized as Level 3 as at April 30, 2022, in the fair value hierarchy comprise certain foreign government bonds, structured corporate bonds, equity securities, complex derivatives, financial liabilities designated at fair value through profit or loss and obligations related to securities sold short. The following table summarizes the changes in Level 3 instruments carried at fair value for the three months ended April 30, 2022. All positive balances represent assets and negative balances represent liabilities. Consequently, positive amounts indicate purchases of assets or settlements of liabilities and negative amounts indicate sales of assets or issuances of liabilities. As at April 30, 2022 ($ millions) Fair Gains/ Gains/ Purchases/ Sales/ Transfers Fair Changes in (1) Trading assets Corporate and other debt $ 2 $ (2 ) $ – $ – $ – $ 1 $ 1 $ (2 ) Equity securities 3 – – 2 – (2 ) 3 – 5 (2 ) – 2 – (1 ) 4 (2 ) Investment securities Other foreign governments’ debt 18 – (1 ) – – – 17 n/a Corporate and other debt 24 – (6 ) 42 – – 60 – Equity securities 1,453 58 4 74 (103 ) (5 ) 1,481 58 1,495 58 (3 ) 116 (103 ) (5 ) 1,558 58 Derivative financial instruments – assets Interest rate contracts 2 6 – – – – 8 6 Equity contracts 20 4 – 1 – 1 26 4 (2) Commodity contracts 7 4 – – – – 11 4 Derivative financial instruments – liabilities Interest rate contracts (17 ) (5 ) – – – 15 (7 ) (5 ) (3) Equity contracts (4 ) (1 ) – (1 ) – – (6 ) (1 ) (2) Commodity contracts (8 ) 2 – – – – (6 ) 2 – 10 – – – 16 26 10 Financial liabilities designated at fair value through profit or loss (137 ) 25 – (22 ) – 47 (87 ) 7 Obligations related to securities sold short (2 ) – – – – – (2 ) – Total $ 1,361 $ 91 $ (3) $ 96 $ (103) $ 57 $ 1,499 $ 73 (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 changes on other instruments included in trading revenues in the Consolidated Statement of Income, since these instruments act as an economic hedge to certain derivative assets and liabilities. (3) Certain unrealized losses on interest rate derivative contracts are largely offset by mark-to-market changes on embedded derivatives on certain deposit liabilities in the Consolidated Statement of Income. The following tables summarize the changes in Level 3 instruments carried at fair value for the three months ended January 31, 2022 and October 31, 2021. As at January 31, 2022 ($ millions) Fair value, Gains/ (1) Gains/ Purchases/ Sales/ Transfers Fair value, Trading assets $ 41 $ – $ – $ – $ (31 ) $ (5 ) $ 5 Investment securities 1,348 66 5 102 (30 ) 4 1,495 Derivative financial instruments 1 (3 ) – – – 2 – Financial liabilities designated at fair value through profit or loss (139 ) 2 – – – – (137 ) Obligations related to securities sold short – – – – – (2) (2 ) (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. As at October 31, 2021 ($ millions) Fair value, Gains/ (losses) recorded (1) Gains/ Purchases/ Sales/ Transfers Fair value, Trading assets $ 4 $ (1 ) $ – $ 28 $ – $ 10 $ 41 Investment securities 1,190 83 28 78 (32 ) 1 1,348 Derivative financial instruments (35 ) 4 – (12) 51 (7 ) 1 Financial liabilities designated at fair value through profit or loss (119 ) – – (20 ) – – (139 ) (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 at the end of the reporting period during which the change has occurred. The following significant transfers made between Level 1 and 2, were based on whether the fair value was determined using quoted market prices from an active market. During the three months ended April 30, 2022: • Trading assets of $1,191 million, investment securities of $475 million and obligations related to securities sold short of $624 million were transferred out of Level 2 into Level 1. • Trading assets of $1,306 million, investment securities of $463 million and obligations related to securities sold short of $361 million were transferred out of Level 1 into Level 2. During the three months ended January 31, 2022: • Trading assets of $629 million, investment securities of $1,484 million and obligations related to securities sold short of $43 million were transferred out of Level 2 into Level 1. • Trading assets of $2,034 million, investment securities of $754 million and obligations related to securities sold short of $1,171 million were transferred out of Level 1 into Level 2. During the three months ended October 31, 2021: • Trading assets of $9,455 million, investment securities of $3,407 million and obligations related to securities sold short of $2,550 million were transferred out of Level 2 into Level 1. • Trading assets of $9,972 million, investment securities of $13,474 million and obligations related to securities sold short of $2,235 million were transferred out of Level 1 into Level 2. There were no significant transfers into and out of Level 3 during the three months ended April 30, 2022, January 31, 2022 and October 31, 2021. 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, 2021 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 | 6 Months Ended |
Apr. 30, 2022 | |
Text Block [Abstract] | |
Corporate income taxes | 19. Corporate income taxes Tax Assessments Prior to 2022, the Bank received reassessments totalin g $1,201 million of tax and interest as a result of the Canada Revenue Agency (the “CRA”) and the Quebec and Alberta tax authorities denying the tax deductibility of certain Canadian dividends received during the 2011-2016 taxation years. In the second quarter of 2022, the Bank received a reassessment o f $5 million of tax and interest from the Alberta Tax and Revenue Administration in respect of the same matter for the 2016 taxation year. The circumstances of the dividends subject to these reassessments are similar to those prospectively addressed by rules introduced in 2015 and 2018. In 2021, a subsidiary of the Bank received withholding tax assessments from the CRA in respect of certain of its securities lending transactions for its 2014 and 2015 taxation years totaling $173 million of tax, penalties and interest. In the first quarter of 2022, assessments totaling $297 million were received in respect of similar securities lending transactions in 2016 and 2017. In respect of both matters, 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. 2022 Federal Budget Tax Measures On April 7, 2022, the Canadian Minister of Finance released the Federal Budget (“Budget”) which, among other proposals, included certain tax measures affecting large banks and other financial institutions. The Budget proposes a Canada Recovery Dividend (“CRD”), under which the Bank will pay a one-time tax on taxable income in excess of billion based on the 2021 taxation year, as well as an increase of to the Bank’s corporate income tax rate on its future earnings. Once enacted, the proposed tax measures will be effective as of the 2022 taxation year, with the CRD to be payable in equal amounts over The impact of these proposed tax measures has not been recognized in the Bank’s financial results as they are not substantively enacted as at April 30, 2022. Furthermore, their impact cannot be accurately assessed at this time due to uncertainties around how the rules will be finalized. |
Acquisition
Acquisition | 6 Months Ended |
Apr. 30, 2022 | |
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Acquisition | 20. Acquisitions Acquisition impacting the current period Scotiabank Chile During the quarter, the Bank completed the acquisition of an additional 16.8 % stake in Scotiabank Chile for $ billion from the non-controlling interest shareholder, increasing its ownership to %. The purchase consideration was comprised of cash of $650 million and the issuance of 7 million common shares valued at $569 million. The increase in ownership was effective February 27, 2022. This transaction was accounted for as a capital transaction through shareholders’ equity and did not result in a change to the carrying value of the assets and liabilities of the subsidiary, or the Bank’s associated goodwill. The transaction negatively impacted the Bank’s Common Equity Tier 1 (CET1) ratio by 11 basis points. Scotiabank Chile forms part of the International Banking business segment. |
Cash and deposits with financ_2
Cash and deposits with financial institutions (Tables) | 6 Months Ended |
Apr. 30, 2022 | |
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Summary of Cash and Deposits with Financial Institutions | As at ($ millions) April 30 January 31 October 31 Cash and non-interest-bearing $ 10,643 $ 10,563 $ 9,693 Interest-bearing deposits with financial institutions 75,267 88,490 76,630 Total $ 85,910 (1) $ 99,053 (1) $ 86,323 (1) (1) Net of allowances of $2 (January 31, 2022 – $1; October 31, 2021 – $1). |
Investment securities (Tables)
Investment securities (Tables) | 6 Months Ended |
Apr. 30, 2022 | |
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Disclosure of Carrying Value Of Banks Investment Securities Per Measurement Category | The following table presents the carrying amounts of the Bank’s investment securities per measurement category. As at ($ millions) April 30 January 31 October 31 Debt investment securities measured at FVOCI $ 78,343 $ 59,249 $ 52,611 Debt investment securities measured at amortized cost 16,699 17,576 18,157 Equity investment securities designated at FVOCI 3,797 3,542 3,178 Equity investment securities measured at FVTPL 1,576 1,301 1,223 Debt investment securities measured at FVTPL 72 31 30 Total investment securities $ 100,487 $ 81,699 $ 75,199 |
Disclosure of Unrealized Gains and Losses on Fair Value through Other Comprehensive Income Securities | As at April 30, 2022 ($ millions) Cost Gross Gross Fair value Canadian federal government issued or guaranteed debt $ 9,913 $ 3 $ 205 $ 9,711 Canadian provincial and municipal debt 5,494 2 295 5,201 U.S. treasury and other U.S. agency debt 36,576 17 1,059 35,534 Other foreign government debt 27,329 31 911 26,449 Other debt 1,477 1 30 1,448 Total $ 80,789 $ 54 $ 2,500 $ 78,343 As at January 31, 2022 ($ millions) Cost Gross Gross Fair value Canadian federal government issued or guaranteed debt $ 8,355 $ 93 $ 44 $ 8,404 Canadian provincial and municipal debt 5,428 7 92 5,343 U.S. treasury and other U.S. agency debt 16,264 115 216 16,163 Other foreign government debt 28,667 48 565 28,150 Other debt 1,189 5 5 1,189 Total $ 59,903 $ 268 $ 922 $ 59,249 As at October 31, 2021 ($ millions) Cost Gross Gross Fair value Canadian federal government issued or guaranteed debt $ 5,694 $ 135 $ 25 $ 5,804 Canadian provincial and municipal debt 5,202 12 59 5,155 U.S. treasury and other U.S. agency debt 13,528 188 79 13,637 Other foreign government debt 27,126 60 515 26,671 Other debt 1,339 9 4 1,344 Total $ 52,889 $ 404 $ 682 $ 52,611 |
Summary of Analysis of Fair Value and Carrying Value of Investment Securities Measured at Amortized Cost | As at April 30, 2022 January 31, 2022 October 31, 2021 ($ millions) Fair value Carrying Fair value Carrying Fair value Carrying Canadian federal and provincial government issued or guaranteed debt $ 10,437 $ 10,713 $ 11,674 $ 11,770 $ 12,310 $ 12,372 U.S. treasury and other U.S. agency debt 4,536 4,863 4,651 4,694 4,712 4,687 Other foreign government debt 1,013 1,013 996 986 970 960 Corporate debt 121 110 132 126 141 138 Total $ 16,107 $ 16,699 $ 17,453 $ 17,576 $ 18,133 $ 18,157 |
Summary of Equity Investment Securities Designated as at Fair Value Through Other Comprehensive Income | As at April 30, 2022 ($ millions) Cost Gross Gross Fair value Preferred equity instruments $ – $ – $ – $ – Common shares 3,209 676 88 3,797 Total $ 3,209 $ 676 $ 88 $ 3,797 As at January 31, 2022 ($ millions) Cost Gross Gross Fair value Preferred equity instruments $ 36 $ 5 $ 5 $ 36 Common shares 2,909 653 56 3,506 Total $ 2,945 $ 658 $ 61 $ 3,542 As at October 31, 2021 ($ millions) Cost Gross Gross Fair value Preferred equity instruments $ 27 $ 4 $ 3 $ 28 Common shares 2,710 528 88 3,150 Total $ 2,737 $ 532 $ 91 $ 3,178 |
Loans, impaired loans and all_2
Loans, impaired loans and allowance for credit losses (Tables) | 6 Months Ended |
Apr. 30, 2022 | |
Text Block [Abstract] | |
Disclosure of loans at amortized cost | (a) Loans at amortized cost As at April 30, 2022 ($ millions) Gross Allowance Net Residential mortgages $ 337,714 $ 834 $ 336,880 Personal loans 94,437 2,171 92,266 Credit cards 13,622 1,107 12,515 Business and government 249,223 1,182 248,041 Total $ 694,996 $ 5,294 $ 689,702 As at January 31, 2022 October 31, 2021 ($ millions) Gross Allowance Net Gross Allowance Net carrying Residential mortgages $ 330,991 $ 835 $ 330,156 $ 319,678 $ 802 $ 318,876 Personal loans 92,622 2,249 90,373 91,540 2,341 89,199 Credit cards 13,145 1,165 11,980 12,450 1,211 11,239 Business and government 236,072 1,243 234,829 218,944 1,272 217,672 Total $ 672,830 $ 5,492 $ 667,338 $ 642,612 $ 5,626 $ 636,986 |
Schedule of Impaired Loans | (b) Impaired loans (1)(2) As at April 30, 2022 ($ millions) Gross Allowance Net Residential mortgages $ 1,273 $ 393 $ 880 Personal loans 767 566 201 Credit cards – – – Business and government 2,224 645 1,579 Total $ 4,264 $ 1,604 $ 2,660 By geography: Canada $ 968 $ 412 $ 556 United States – – – Mexico 795 289 506 Peru 676 353 323 Chile 543 189 354 Colombia 377 78 299 Other international 905 283 622 Total $ 4,264 $ 1,604 $ 2,660 As at January 31, 2022 October 31, 2021 ($ millions) Gross Allowance Net Gross Allowance Net Residential mortgages $ 1,320 $ 395 $ 925 $ 1,331 $ 374 $ 957 Personal loans 820 574 246 833 626 207 Credit cards – – – – – – Business and government 2,295 654 1,641 2,292 655 1,637 Total $ 4,435 $ 1,623 $ 2,812 $ 4,456 $ 1,655 $ 2,801 By geography: Canada $ 1,055 $ 426 $ 629 $ 1,090 $ 446 $ 644 United States 16 – 16 24 4 20 Mexico 775 281 494 758 269 489 Peru 716 350 366 699 350 349 Chile 540 194 346 512 180 332 Colombia 373 78 295 418 88 330 Other international 960 294 666 955 318 637 Total $ 4,435 $ 1,623 $ 2,812 $ 4,456 $ 1,655 $ 2,801 (1) Interest income recognized on impaired loans during the three months ended April 30, 2022 was $11 (January 31, 2022 – $13; October 31, 2021 – $12). (2) Additional interest income of approximately $ 63 |
Summary of Key Macroeconomic Variables Used for Allowance for Credit Losses Calculations | The following table shows certain key macroeconomic variables used to estimate the allowance for credit losses. For the base case, optimistic and pessimistic scenarios, the projections are provided for the next 12 months and for the remaining forecast period, which represents a medium-term view. Base Case Scenario Alternative Scenario - Alternative Scenario - Alternative Scenario - Very As at April 30, 2022 Next 12 Remaining Next 12 Remaining Next 12 Remaining Next 12 Remaining Canada Real GDP growth, y/y % change 4.6 2.0 6.6 2.9 -0.8 3.8 -2.2 2.7 Unemployment rate, average % 5.0 6.1 4.2 4.5 9.1 6.9 9.6 8.5 Bank of Canada overnight rate target, average % 2.2 2.4 2.8 3.4 3.5 3.0 3.5 3.4 HPI - Housing Price Index, y/y % change 16.6 -0.7 19.5 0.9 11.4 0.5 9.8 -0.5 USD/CAD 1.21 1.23 1.20 1.22 1.21 1.22 1.21 1.22 US Real GDP growth, y/y % change 3.9 1.9 5.3 2.6 -1.9 3.6 -3.5 2.9 Unemployment rate, average % 3.8 4.2 3.5 3.8 7.4 4.8 7.8 6.2 Mexico Real GDP growth, y/y % change 1.7 1.8 2.9 2.5 -3.7 3.2 -4.7 1.8 Unemployment rate, average % 4.0 3.9 3.6 3.0 7.4 4.9 7.7 6.5 Chile Real GDP growth, y/y % change 1.8 2.1 3.6 3.5 -3.2 3.6 -4.1 2.9 Unemployment rate, average % 6.2 5.9 5.7 5.2 9.9 6.4 10.7 7.0 Peru Real GDP growth, y/y % change 2.6 3.0 4.5 4.7 -1.2 4.1 -2.7 1.1 Unemployment rate, average % 7.8 7.0 6.9 4.2 10.5 8.0 11.7 12.0 Colombia Real GDP growth, y/y % change 4.3 3.5 5.8 5.1 0.5 4.7 -0.2 2.9 Unemployment rate, average % 10.8 10.3 10.1 7.9 13.3 11.2 13.6 13.6 Caribbean Real GDP growth, y/y % change 4.6 4.0 5.7 4.8 0.8 5.2 -0.6 3.9 Global WTI oil price, average USD/bbl 96 77 102 95 129 81 140 117 Copper price, average USD/lb 4.18 4.20 4.33 4.75 4.63 4.23 4.77 4.57 Global GDP, y/y % change 3.91 2.72 5.27 3.61 -1.35 4.27 -2.78 3.76 Base Case Scenario Alternative Scenario - Alternative Scenario - Alternative Scenario - V As at January 31, 2022 Next 12 Remaining Next 12 Remaining Next 12 Remaining Next 12 Remaining Canada Real GDP growth, y/y % change 4.2 1.6 6.1 2.5 0.0 2.7 -4.6 3.5 Unemployment rate, average % 5.2 5.5 4.5 4.0 7.7 6.1 10.6 8.0 Bank of Canada overnight rate target, average % 0.9 2.4 1.5 3.7 0.3 1.9 0.3 1.2 HPI - Housing Price Index, y/y % change 9.9 1.9 12.5 3.1 3.0 3.1 -3.5 3.7 USD/CAD 1.21 1.20 1.20 1.19 1.25 1.20 1.27 1.23 US Real GDP growth, y/y % change 4.2 1.9 5.4 2.6 1.2 2.7 -2.2 3.6 Unemployment rate, average % 4.1 4.2 3.9 3.8 5.8 4.8 7.1 6.2 Mexico Real GDP growth, y/y % change 2.8 1.9 4.4 2.0 0.0 2.5 -2.6 2.8 Unemployment rate, average % 4.0 3.8 3.4 3.2 6.5 4.3 9.4 6.2 Chile Real GDP growth, y/y % change 4.6 3.0 6.8 4.0 2.0 3.4 -2.4 4.2 Unemployment rate, average % 6.6 6.3 6.0 5.5 9.1 6.9 12.0 8.8 Peru Real GDP growth, y/y % change 2.6 3.0 4.5 3.8 -0.6 3.8 -4.5 4.9 Unemployment rate, average % 8.7 7.4 5.8 5.1 11.2 8.0 14.1 9.9 Colombia Real GDP growth, y/y % change 4.5 3.5 6.5 4.8 1.2 4.4 -2.6 5.4 Unemployment rate, average % 10.8 10.4 10.0 7.7 13.3 10.9 16.2 12.8 Caribbean Real GDP growth, y/y % change 4.8 4.0 6.4 4.1 2.0 4.6 -0.6 4.9 Global WTI oil price, average USD/bbl 69 71 75 87 59 66 56 59 Copper price, average USD/lb 4.25 4.15 4.46 4.72 3.95 3.89 3.82 3.56 Global GDP, y/y % change 4.32 3.57 5.66 4.47 1.96 4.17 -0.55 4.85 Base Case Scenario Alternative Scenario - Alternative Scenario - Alternative Scenario - Very As at October 31, 2021 Next 12 Remaining Next 12 Remaining Next 12 Remaining Next 12 Remaining Canada Real GDP growth, y/y % change 3.4 1.9 5.3 2.8 -1.3 3.1 -7.4 4.3 Unemployment rate, average % 6.3 5.7 5.6 4.1 8.8 6.3 11.7 8.2 Bank of Canada overnight rate target, average % 0.3 2.0 0.9 3.6 0.3 1.2 0.3 0.5 HPI - Housing Price Index, y/y % change 11.1 2.1 13.2 3.9 3.9 3.3 -2.7 3.9 USD/CAD 1.24 1.21 1.23 1.20 1.28 1.21 1.30 1.24 US Real GDP growth, y/y % change 5.7 1.6 7.3 2.1 2.4 2.4 -1.4 3.5 Unemployment rate, average % 3.8 3.5 3.4 3.2 5.6 4.1 6.8 5.6 Mexico Real GDP growth, y/y % change 2.8 1.9 4.3 2.7 -0.4 2.7 -4.2 3.8 Unemployment rate, average % 4.0 4.0 3.6 3.1 6.5 4.5 9.4 6.4 Chile Real GDP growth, y/y % change 6.7 2.2 8.8 3.1 3.4 3.1 -0.5 4.2 Unemployment rate, average % 6.5 6.2 5.9 5.6 9.0 6.7 12.0 8.6 Peru Real GDP growth, y/y % change 5.0 3.2 7.7 4.3 3.6 3.7 0.0 4.7 Unemployment rate, average % 8.8 7.5 6.0 3.4 10.8 8.1 13.8 10.0 Colombia Real GDP growth, y/y % change 5.0 3.5 6.8 4.8 3.6 4.0 0.0 5.0 Unemployment rate, average % 13.7 11.2 12.0 8.2 15.6 11.8 18.6 13.7 Caribbean Real GDP growth, y/y % change 4.9 4.1 6.2 4.9 3.9 4.6 0.3 5.6 Global WTI oil price, average USD/bbl 69 70 75 86 61 67 57 57 Copper price, average USD/lb 4.20 4.20 4.36 4.78 3.93 4.05 3.81 3.62 Global GDP, y/y % change 5.07 3.02 6.54 3.90 2.44 3.68 -0.69 4.48 |
Schedule of Allowance for Credit Losses | (iv) Allowance for credit losses Allowance for credit losses ($ millions) Balance as at Provision for Net write-offs Other, including Balance as at Residential mortgages $ 802 $ 32 $ (23 ) $ 23 $ 834 Personal loans 2,341 235 (451 ) 46 2,171 Credit cards 1,211 159 (277 ) 14 1,107 Business and government 1,374 15 (128 ) (3 ) 1,258 $ 5,728 $ 441 $ (879 ) $ 80 $ 5,370 Presented as: Allowance for credit losses on loans $ 5,626 $ 5,294 Allowance for credit losses on acceptances (1) 37 27 Allowance for credit losses on off-balance (2) 65 49 (1) Allowance for credit losses on acceptances are recorded against the financial asset in the Consolidated Statement of Financial Position. (2) Allowance for credit losses on off-balance ($ millions) Balance as at Provision for Net write-offs Other, including Balance as at Residential mortgages $ 884 $ 51 $ (49 ) $ (45 ) $ 841 Personal loans 3,155 611 (826 ) (134 ) 2,806 Credit cards 1,886 504 (761 ) (84 ) 1,545 Business and government 1,892 94 (179 ) (110 ) 1,697 $ 7,817 $ 1,260 $ (1,815 ) $ (373 ) $ 6,889 Presented as: Allowance for credit losses on loans $ 7,639 $ 6,716 Allowance for credit losses on acceptances (1) 77 73 Allowance for credit losses on off-balance (2) 101 100 (1) Allowance for credit losses on acceptances are recorded against the financial asset in the Consolidated Statement of Financial Position. (2) Allowance for credit loss e off-balance Allowance for credit losses on loans As at April 30, 2022 ($ millions) Stage 1 Stage 2 Stage 3 Total Residential mortgages $ 168 $ 273 $ 393 $ 834 Personal loans 655 950 566 2,171 Credit cards 419 688 – 1,107 Business and government 202 335 645 1,182 Total (1) $ 1,444 $ 2,246 $ 1,604 $ 5,294 (1) Excludes allowance for credit losses of $81 for other financial assets including acceptances, investment securities, deposits with banks, off-balance As at October 31, 2021 ($ millions) Stage 1 Stage 2 Stage 3 Total Residential mortgages $ 152 $ 276 $ 374 $ 802 Personal loans 644 1,071 626 2,341 Credit cards 352 859 – 1,211 Business and government 186 431 655 1,272 Total (1) $ 1,334 $ 2,637 $ 1,655 $ 5,626 (1) Excludes allowance for credit losses of $105 for other financial assets including acceptances, investment securities, deposits with banks and off-balance As at April 30, 2021 ($ millions) Stage 1 Stage 2 Stage 3 Total Residential mortgages $ 151 $ 280 $ 410 $ 841 Personal loans 699 1,286 821 2,806 Credit cards 319 1,226 – 1,545 Business and government 303 514 707 1,524 Total (1) $ 1,472 $ 3,306 $ 1,938 $ 6,716 (1) Excludes allowance for credit losses of $177 for other financial assets including acceptances, investment securities, deposits with banks and off-balance The following table presents the changes to the allowance for credit losses on loans. As at and for the three months ended April 30, 2022 April 30, 2021 ($ millions) Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Retail loans: Residential mortgages Balance at beginning of period $ 161 $ 279 $ 395 $ 835 $ 161 $ 297 $ 406 $ 864 Provision for credit losses Remeasurement (1) (15 ) 7 9 1 (30 ) 7 48 25 Newly originated or purchased financial assets 10 – – 10 10 – – 10 Derecognition of financial assets and maturities (1 ) (4 ) – (5 ) (2 ) (7 ) – (9 ) Changes in models and methodologies – – – – – – – – Transfer to (from): Stage 1 14 (12 ) (2 ) – 19 (15 ) (4 ) – Stage 2 (2 ) 9 (7 ) – (3 ) 17 (14 ) – Stage 3 – (3 ) 3 – – (11 ) 11 – Gross write-offs – – (16 ) (16 ) – – (22 ) (22 ) Recoveries – – 7 7 – – 6 6 Foreign exchange and other movements 1 (3 ) 4 2 (4 ) (8 ) (21 ) (33 ) Balance at end of period (2) $ 168 $ 273 $ 393 $ 834 $ 151 $ 280 $ 410 $ 841 Personal loans Balance at beginning of period $ 655 $ 1,020 $ 574 $ 2,249 $ 787 $ 1,514 $ 849 $ 3,150 Provision for credit losses Remeasurement (1) (162 ) 94 161 93 (264 ) 176 327 239 Newly originated or purchased financial assets 75 – – 75 154 – – 154 Derecognition of financial assets and maturities (17 ) (27 ) – (44 ) (67 ) (82 ) – (149 ) Changes in models and methodologies – – – – – – – – Transfer to (from): Stage 1 127 (125 ) (2 ) – 204 (200 ) (4 ) – Stage 2 (26 ) 39 (13 ) – (85 ) 104 (19 ) – Stage 3 (1 ) (49 ) 50 – (8 ) (184 ) 192 – Gross write-offs – – (275 ) (275 ) – – (547 ) (547 ) Recoveries – – 64 64 – – 64 64 Foreign exchange and other movements 4 (2 ) 7 9 (22 ) (42 ) (41 ) (105 ) Balance at end of period (2) $ 655 $ 950 $ 566 $ 2,171 $ 699 $ 1,286 $ 821 $ 2,806 Credit cards Balance at beginning of period $ 399 $ 766 $ – $ 1,165 $ 448 $ 1,467 $ – $ 1,915 Provision for credit losses Remeasurement (1) (37 ) 3 106 72 (177 ) 119 323 265 Newly originated or purchased financial assets 32 – – 32 19 – – 19 Derecognition of financial assets and maturities (10 ) (8 ) – (18 ) (17 ) (24 ) – (41 ) Changes in models and methodologies – – – – – – – – Transfer to (from): Stage 1 52 (52 ) – – 91 (91 ) – – Stage 2 (13 ) 13 – – (32 ) 32 – – Stage 3 – (33 ) 33 – – (228 ) 228 – Gross write-offs – – (186 ) (186 ) – – (587 ) (587 ) Recoveries – – 48 48 – – 42 42 Foreign exchange and other movements (4 ) (1 ) (1 ) (6 ) (13 ) (49 ) (6 ) (68 ) Balance at end of period (2) $ 419 $ 688 $ – $ 1,107 $ 319 $ 1,226 $ – $ 1,545 Total retail loans Balance at beginning of period $ 1,215 $ 2,065 $ 969 $ 4,249 $ 1,396 $ 3,278 $ 1,255 $ 5,929 Provision for credit losses Remeasurement (1) (214 ) 104 276 166 (471 ) 302 698 529 Newly originated or purchased financial assets 117 – – 117 183 – – 183 Derecognition of financial assets and maturities (28 ) (39 ) – (67 ) (86 ) (113 ) – (199 ) Changes in models and methodologies – – – – – – – – Transfer to (from): Stage 1 193 (189 ) (4 ) – 314 (306 ) (8 ) – Stage 2 (41 ) 61 (20 ) – (120 ) 153 (33 ) – Stage 3 (1 ) (85 ) 86 – (8 ) (423 ) 431 – Gross write-offs – – (477 ) (477 ) – – (1,156 ) (1,156 ) Recoveries – – 119 119 – – 112 112 Foreign exchange and other movements 1 (6 ) 10 5 (39 ) (99 ) (68 ) (206 ) Balance at end of period (2) $ 1,242 $ 1,911 $ 959 $ 4,112 $ 1,169 $ 2,792 $ 1,231 $ 5,192 Non-retail Business and government Balance at beginning of period $ 233 $ 411 $ 654 $ 1,298 $ 459 $ 600 $ 739 $ 1,798 Provision for credit losses Remeasurement (1) (23 ) (9 ) 72 40 (79 ) – 103 24 Newly originated or purchased financial assets 65 – – 65 79 – – 79 Derecognition of financial assets and maturities (55 ) (36 ) (7 ) (98 ) (85 ) (12 ) (1 ) (98 ) Changes in models and methodologies (1 ) 2 – 1 (4 ) (11 ) – (15 ) Transfer to (from): Stage 1 19 (19 ) – – 10 (10 ) – – Stage 2 (4 ) 4 – – (18 ) 19 (1 ) – Stage 3 – (3 ) 3 – – (3 ) 3 – Gross write-offs – – (73 ) (73 ) – – (105 ) (105 ) Recoveries – – 9 9 – – 8 8 Foreign exchange and other movements – 2 (13 ) (11 ) (9 ) (19 ) (39 ) (67 ) Balance at end of period including off-balance (2) $ 234 $ 352 $ 645 $ 1,231 $ 353 $ 564 $ 707 $ 1,624 Less: Allowance for credit losses on off-balance (3) (32 ) (17 ) – (49 ) (50 ) (50 ) – (100 ) Balance at end of period (2) $ 202 $ 335 $ 645 $ 1,182 $ 303 $ 514 $ 707 $ 1,524 The following table presents the changes to the allowance for credit losses on loans. As at and for the six months ended April 30, 2022 April 30, 2021 ($ millions) Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Retail loans: Residential mortgages Balance at beginning of period $ 152 $ 276 $ 374 $ 802 $ 190 $ 302 $ 392 $ 884 Provision for credit losses Remeasurement (1) (34 ) 18 38 22 (95 ) 36 107 48 Newly originated or purchased financial assets 20 – – 20 21 – – 21 Derecognition of financial assets and maturities (3 ) (7 ) – (10 ) (5 ) (13 ) – (18 ) Changes in models and methodologies – – – – – – – – Transfer to (from): Stage 1 33 (29 ) (4 ) – 51 (42 ) (9 ) – Stage 2 (4 ) 16 (12 ) – (6 ) 37 (31 ) – Stage 3 – (6 ) 6 – – (23 ) 23 – Gross write-offs – – (37 ) (37 ) – – (59 ) (59 ) Recoveries – – 14 14 – – 10 10 Foreign exchange and other movements 4 5 14 23 (5 ) (17 ) (23 ) (45 ) Balance at end of period (2) $ 168 $ 273 $ 393 $ 834 $ 151 $ 280 $ 410 $ 841 Personal loans Balance at beginning of period $ 644 $ 1,071 $ 626 $ 2,341 $ 864 $ 1,471 $ 820 $ 3,155 Provision for credit losses Remeasurement (1) (318 ) 189 305 176 (686 ) 712 579 605 Newly originated or purchased financial assets 150 – – 150 253 – – 253 Derecognition of financial assets and maturities (35 ) (56 ) – (91 ) (95 ) (152 ) – (247 ) Changes in models and methodologies – – – – – – – – Transfer to (from): Stage 1 257 (252 ) (5 ) – 605 (598 ) (7 ) – Stage 2 (56 ) 83 (27 ) – (177 ) 215 (38 ) – Stage 3 (2 ) (99 ) 101 – (39 ) (310 ) 349 – Gross write-offs – – (582 ) (582 ) – – (953 ) (953 ) Recoveries – – 131 131 – – 127 127 Foreign exchange and other movements 15 14 17 46 (26 ) (52 ) (56 ) (134 ) Balance at end of period (2) $ 655 $ 950 $ 566 $ 2,171 $ 699 $ 1,286 $ 821 $ 2,806 Credit cards Balance at beginning of period $ 352 $ 859 $ – $ 1,211 $ 501 $ 1,385 $ – $ 1,886 Provision for credit losses Remeasurement (1) (89 ) 8 215 134 (310 ) 377 474 541 Newly originated or purchased financial assets 60 – – 60 48 – – 48 Derecognition of financial assets and maturities (20 ) (15 ) – (35 ) (32 ) (53 ) – (85 ) Changes in models and methodologies – – – – – – – – Transfer to (from): Stage 1 139 (139 ) – – 204 (204 ) – – Stage 2 (26 ) 26 – – (75 ) 75 – – Stage 3 – (61 ) 61 – – (298 ) 298 – Gross write-offs – – (378 ) (378 ) – – (847 ) (847 ) Recoveries – – 101 101 – – 86 86 Foreign exchange and other movements 3 10 1 14 (17 ) (56 ) (11 ) (84 ) Balance at end of period (2) $ 419 $ 688 $ – $ 1,107 $ 319 $ 1,226 $ – $ 1,545 Total retail loans Balance at beginning of period $ 1,148 $ 2,206 $ 1,000 $ 4,354 $ 1,555 $ 3,158 $ 1,212 $ 5,925 Provision for credit losses Remeasurement (1) (441 ) 215 558 332 (1,091 ) 1,125 1,160 1,194 Newly originated or purchased financial assets 230 – – 230 322 – – 322 Derecognition of financial assets and maturities (58 ) (78 ) – (136 ) (132 ) (218 ) – (350 ) Changes in models and methodologies – – – – – – – – Transfer to (from): Stage 1 429 (420 ) (9 ) – 860 (844 ) (16 ) – Stage 2 (86 ) 125 (39 ) – (258 ) 327 (69 ) – Stage 3 (2 ) (166 ) 168 – (39 ) (631 ) 670 – Gross write-offs – – (997 ) (997 ) – – (1,859 ) (1,859 ) Recoveries – – 246 246 – – 223 223 Foreign exchange and other movements 22 29 32 83 (48 ) (125 ) (90 ) (263 ) Balance at end of period (2) $ 1,242 $ 1,911 $ 959 $ 4,112 $ 1,169 $ 2,792 $ 1,231 $ 5,192 Non-retail Business and government Balance at beginning of period $ 212 $ 470 $ 655 $ 1,337 $ 478 $ 592 $ 745 $ 1,815 Provision for credit losses Remeasurement (1) (53 ) (23 ) 148 72 (89 ) 21 209 141 Newly originated or purchased financial assets 121 – – 121 168 – – 168 Derecognition of financial assets and maturities (96 ) (56 ) (18 ) (170 ) (168 ) (25 ) (3 ) (196 ) Changes in models and methodologies (1 ) 2 – 1 (4 ) (11 ) – (15 ) Transfer to (from): Stage 1 61 (61 ) – – 28 (28 ) – – Stage 2 (12 ) 12 – – (42 ) 43 (1 ) – Stage 3 – (3 ) 3 – – (4 ) 4 – Gross write-offs – – (146 ) (146 ) – – (192 ) (192 ) Recoveries – – 18 18 – – 13 13 Foreign exchange and other movements 2 11 (15 ) (2 ) (18 ) (24 ) (68 ) (110 ) Balance at end of period including off-balance (2) $ 234 $ 352 $ 645 $ 1,231 $ 353 $ 564 $ 707 $ 1,624 Less: Allowance for credit losses on off-balance (3) (32 ) (17 ) – (49 ) (50 ) (50 ) – (100 ) Balance at end of period (2) $ 202 $ 335 $ 645 $ 1,182 $ 303 $ 514 $ 707 $ 1,524 (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 for the three months ended April 30, 2022 total (April 30, 2021 - $73) and for the six months ended April 30, 2022 totaled (April 30, 2021 - $151). (3) Allowance for credit losses on off-balance sheet exposures is recorded in other liabilities in the Consolidated Statement of Financial Position. |
Summary of Carrying Value of Exposures by Risk Rating | CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (d) Carrying value of exposures by risk rating Residential As at April 30, 2022 As at October 31, 2021 Category of PD grades ($ millions) Stage 1 Stage 2 Stage 3 (1) Total Stage 1 Stage 2 Stage 3 (1) Total Very low $ 198,894 $ 2,104 $ – $ 200,998 $ 187,163 $ 5,610 $ – $ 192,773 Low 79,199 644 – 79,843 69,306 1,768 – 71,074 Medium 17,222 959 – 18,181 9,170 3,690 – 12,860 High 2,503 1,155 – 3,658 904 2,284 – 3,188 Very high 57 1,197 – 1,254 16 643 – 659 Loans not graded (2) 29,967 2,540 – 32,507 34,122 3,671 – 37,793 Default – – 1,273 1,273 – – 1,331 1,331 Total $ 327,842 $ 8,599 $ 1,273 $ 337,714 $ 300,681 $ 17,666 $ 1,331 $ 319,678 Allowance for credit losses 168 273 393 834 152 276 374 802 Carrying value $ 327,674 $ 8,326 $ 880 $ 336,880 $ 300,529 $ 17,390 $ 957 $ 318,876 (1) Stage 3 includes purchased or originated credit-impaired loans. (2) Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category. Personal loans As at April 30, 2022 As at October 31, 2021 Category of PD grades ($ millions) Stage 1 Stage 2 Stage 3 (1) Total Stage 1 Stage 2 Stage 3 (1) Total Very low $ 29,855 $ 150 $ – $ 30,005 $ 30,085 $ 168 $ – $ 30,253 Low 26,809 322 – 27,131 25,719 574 – 26,293 Medium 8,407 1,028 – 9,435 8,290 1,127 – 9,417 High 6,937 1,804 – 8,741 5,686 2,307 – 7,993 Very high 74 1,511 – 1,585 82 1,157 – 1,239 Loans not graded (2) 15,543 1,230 – 16,773 14,159 1,353 – 15,512 Default – – 767 767 – – 833 833 Total $ 87,625 $ 6,045 $ 767 $ 94,437 $ 84,021 $ 6,686 $ 833 $ 91,540 Allowance for credit losses 655 950 566 2,171 644 1,071 626 2,341 Carrying value $ 86,970 $ 5,095 $ 201 $ 92,266 $ 83,377 $ 5,615 $ 207 $ 89,199 (1) Stage 3 includes purchased or originated credit-impaired loans. (2) Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category. Credit cards As at April 30, 2022 As at October 31, 2021 Category of PD grades ($ millions) Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Very low $ 1,559 $ 52 $ – $ 1,611 $ 1,517 $ 76 $ – $ 1,593 Low 2,672 108 – 2,780 2,288 135 – 2,423 Medium 3,357 67 – 3,424 2,666 166 – 2,832 High 3,087 803 – 3,890 2,237 1,225 – 3,462 Very high 44 522 – 566 21 509 – 530 Loans not graded (1) 973 378 – 1,351 1,158 452 – 1,610 Default – – – – – – – – Total $ 11,692 $ 1,930 $ – $ 13,622 $ 9,887 $ 2,563 $ – $ 12,450 Allowance for credit losses 419 688 – 1,107 352 859 – 1,211 Carrying value $ 11,273 $ 1,242 $ – $ 12,515 $ 9,535 $ 1,704 $ – $ 11,239 (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 As at April 30, 2022 As at October 31, 2021 Category of PD grades ($ millions) Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Very low $ 93,791 $ 11 $ – $ 93,802 $ 88,308 $ 14 $ – $ 88,322 Low 20,251 8 – 20,259 17,880 12 – 17,892 Medium 7,734 33 – 7,767 6,858 36 – 6,894 High 3,785 316 – 4,101 3,103 745 – 3,848 Very high 41 321 – 362 24 212 – 236 Loans not graded (1) 8,682 1,314 – 9,996 9,126 2,204 – 11,330 Default – – – – – – – – Carrying value $ 134,284 $ 2,003 $ – $ 136,287 $ 125,299 $ 3,223 $ – $ 128,522 (1) Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category. Total retail loans As at April 30, 2022 As at October 31, 2021 Category of PD grades ($ millions) Stage 1 Stage 2 Stage 3 (1) Total Stage 1 Stage 2 Stage 3 (1) Total Very low $ 324,099 $ 2,317 $ – $ 326,416 $ 307,073 $ 5,868 $ – $ 312,941 Low 128,931 1,082 – 130,013 115,193 2,489 – 117,682 Medium 36,720 2,087 – 38,807 26,984 5,019 – 32,003 High 16,312 4,078 – 20,390 11,930 6,561 – 18,491 Very high 216 3,551 – 3,767 143 2,521 – 2,664 Loans not graded (2) 55,165 5,462 – 60,627 58,565 7,680 – 66,245 Default – – 2,040 2,040 – – 2,164 2,164 Total $ 561,443 $ 18,577 $ 2,040 $ 582,060 $ 519,888 $ 30,138 $ 2,164 $ 552,190 Allowance for credit losses 1,242 1,911 959 4,112 1,148 2,206 1,000 4,354 Carrying value $ 560,201 $ 16,666 $ 1,081 $ 577,948 $ 518,740 $ 27,932 $ 1,164 $ 547,836 (1) Stage 3 includes purchased or originated credit impaired loans. (2) Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category. Business and As at April 30, 2022 As at October 31, 2021 Grade ($ millions) Stage 1 Stage 2 Stage 3 (1) Total Stage 1 Stage 2 Stage 3 (1) Total Investment grade $ 133,757 $ 714 $ – $ 134,471 $ 110,786 $ 892 $ – $ 111,678 Non-investment 98,055 9,453 – 107,508 91,945 7,570 – 99,515 Watch list 24 2,742 – 2,766 31 3,266 – 3,297 Loans not graded (2) 2,243 11 – 2,254 2,151 11 – 2,162 Default – – 2,224 2,224 – – 2,292 2,292 Total $ 234,079 $ 12,920 $ 2,224 $ 249,223 $ 204,913 $ 11,739 $ 2,292 $ 218,944 Allowance for credit losses 202 335 645 1,182 186 431 655 1,272 Carrying value $ 233,877 $ 12,585 $ 1,579 $ 248,041 $ 204,727 $ 11,308 $ 1,637 $ 217,672 (1) Stage 3 includes purchased or originated credit-impaired loans. (2) Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category. Undrawn loan As at April 30, 2022 As at October 31, 2021 Grade ($ millions) Stage 1 Stage 2 Stage 3 (1) Total Stage 1 Stage 2 Stage 3 (1) Total Investment grade $ 197,941 $ 1,434 $ – $ 199,375 $ 186,056 $ 1,266 $ – $ 187,322 Non-investment 61,413 4,183 – 65,596 66,009 3,786 – 69,795 Watch list 1 1,174 – 1,175 12 2,160 – 2,172 Loans not graded (2) 4,082 – – 4,082 4,155 – – 4,155 Default – – 118 118 – – 102 102 Total $ 263,437 $ 6,791 $ 118 $ 270,346 $ 256,232 $ 7,212 $ 102 $ 263,546 Allowance for credit losses 32 17 – 49 26 39 – 65 Carrying value $ 263,405 $ 6,774 $ 118 $ 270,297 $ 256,206 $ 7,173 $ 102 $ 263,481 (1) Stage 3 includes purchased or originated credit-impaired loans. (2) Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category. Total non-retail As at April 30, 2022 As at October 31, 2021 Grade ($ millions) Stage 1 Stage 2 Stage 3 (1) Total Stage 1 Stage 2 Stage 3 (1) Total Investment grade $ 331,698 $ 2,148 $ – $ 333,846 $ 296,842 $ 2,158 $ – $ 299,000 Non-investment 159,468 13,636 – 173,104 157,954 11,356 – 169,310 Watch list 25 3,916 – 3,941 43 5,426 – 5,469 Loans not graded (2) 6,325 11 – 6,336 6,306 11 – 6,317 Default – – 2,342 2,342 – – 2,394 2,394 Total $ 497,516 $ 19,711 $ 2,342 $ 519,569 $ 461,145 $ 18,951 $ 2,394 $ 482,490 Allowance for credit losses 234 352 645 1,231 212 470 655 1,337 Carrying value $ 497,282 $ 19,359 $ 1,697 $ 518,338 $ 460,933 $ 18,481 $ 1,739 $ 481,153 (1) Stage 3 includes purchased or originated credit-impaired loans. (2) Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category. |
Schedule of Loans Past Due But Not Impaired | As at April 30, 2022 (2) ($ millions) 31-60 61-90 91 days (3) Total Residential mortgages $ 797 $ 360 $ – $ 1,157 Personal loans 387 218 – 605 Credit cards 133 91 184 408 Business and government 111 87 – 198 Total $ 1,428 $ 756 $ 184 $ 2,368 As at January 31, 2022 (2) ($ millions) 31-60 61-90 91 days (3) Total Residential mortgages $ 791 $ 386 $ – $ 1,177 Personal loans 424 226 – 650 Credit cards 130 84 184 398 Business and government 71 30 – 101 Total $ 1,416 $ 726 $ 184 $ 2,326 As at October 31, 2021 (2) ($ millions) 31-60 61-90 91 days (3) Total Residential mortgages $ 732 $ 327 $ – $ 1,059 Personal loans 411 210 – 621 Credit cards 125 83 201 409 Business and government 124 24 – 148 Total $ 1,392 $ 644 $ 201 $ 2,237 (1) Loans past due 30 days or less are not presented in this analysis as they are not administratively considered past due. (2) For loans where payment deferrals were granted, deferred payments are not considered past due and such loans are not aged further during the deferral period. Regular ageing of the loans resumes, after the end of the deferral period. (3) 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 | (f) Purchased credit-impaired loans Certain financial assets including loans are credit-impaired on initial recognition. The following table provides details of such assets: As at ($ millions) April 30 January 31 October 31 Unpaid principal balance (1) $ 308 $ 310 $ 303 Credit related fair value adjustments (69 ) (69 ) (68 ) Carrying value 239 241 235 Stage 3 allowance (1 ) (1 ) (1 ) Carrying value net related allowance $ 238 $ 240 $ 234 (1) Represents principal amount owed net of write-offs. |
Derecognition of financial as_2
Derecognition of financial assets (Tables) | 6 Months Ended |
Apr. 30, 2022 | |
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) April 30 (1) January 31 (1) October 31 (1) Assets Carrying value of residential mortgage loans $ 15,880 $ 16,565 $ 17,145 Other related assets (2) 9,225 9,690 9,787 Liabilities Carrying value of associated liabilities $ 24,510 $ 25,446 $ 25,833 (1) The fair value of the transferred assets is $23,769 (January 31, 2022 – $25,123; October 31, 2021 – $25,761) and the fair value of the associated liabilities is $23,882 (January 31, 2022 – $25,515; October 31, 2021 – $26,021) for a net position of $(113) (January 31, 2022 – $(392); October 31, 2021 – $(260)). (2) These include cash held in trust and trust permitted investment assets acquired as part of the principal reinvestment account that the Bank is required to maintain in order to participate in the programs. The following table provides the carrying amount of the transferred assets and the associated liabilities: As at ($ millions) April 30 (1) January 31 (1) October 31 (1) Carrying value of securities associated with: Repurchase agreements (2) $ 106,452 $ 96,628 $ 100,083 Securities lending agreements 59,667 63,756 59,506 Total 166,119 160,384 159,589 Carrying value of associated liabilities (3) $ 131,978 $ 122,878 $ 123,469 (1) The fair value of transferred assets is $166,119 (January 31, 2022 – $160,384; October 31, 2021 – $159,589) and the fair value of the associated liabilities is $131,978 (January 31, 2022 – $122,878; October 31, 2021 – $123,469) for a net position of $34,141 (January 31, 2022 – $37,506; October 31, 2021 – $36,120). (2) Does not include over-collateralization of assets pledged. (3) Liabilities for securities lending arrangements only include amounts related to cash collateral received. In most cases, securities are received as collateral. |
Investments in associates (Tabl
Investments in associates (Tables) | 6 Months Ended |
Apr. 30, 2022 | |
Investments accounted for using equity method [abstract] | |
Significant Investments in Associates | The Bank had significant investments in the following associates: As at April 30 January 31 October 31 ($ millions) Country of Nature of Ownership Date of financial (1) Carrying Carrying Carrying Canadian Tire Financial Services business (CTFS) (2) Canada Financial Services 20.00 % March 31, 2022 $ 546 $ 558 $ 549 Bank of Xi’an Co. Ltd. (3) China Banking 18.11 % March 31, 2022 1,033 1,034 968 Maduro & Curiel’s Bank N.V. (4) Curacao Banking 48.10 % March 31, 2022 402 388 366 (1) Represents the date of the most recent financial statements made available to the Bank by the associates’ management. (2) Canadian Tire has an option to sell to the Bank up to an additional 29% equity interest until the end of the 10th anniversary (October 1, 2024) at the then fair value, that can be settled, at the Bank’s discretion, by issuance of common shares or cash. After October 1, 2024 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) Based on the quoted price on the Shanghai Stock Exchange, the Bank’s Investment in Bank of Xi’an Co. Ltd. was $579 (January 31, 2022 – $675; October 31, 2021 – $671 ). The ownership percentage for Bank of Xi’an Co. was 18.11% as at January 31, 2022 and % as at October 31, 2021. (4) 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 April 30, 2022, these reserves amounted to $62 (January 31, 2022 – $ ; October 31, 2021 - $ ). |
Deposits (Tables)
Deposits (Tables) | 6 Months Ended |
Apr. 30, 2022 | |
Text Block [Abstract] | |
Summary of Deposits | As at April 30, 2022 January 31 January 31 Payable on demand (1) Payable after (2) ($ millions) Interest- Non-interest- Payable on a (3) Total Total Total Personal $ 9,045 $ 10,512 $ 165,185 $ 68,105 $ 252,847 $ 247,067 $ 243,551 Business and government 166,454 36,886 42,316 323,612 569,268 559,616 511,348 Financial institutions 13,244 902 1,846 38,447 54,439 44,362 42,360 $ 188,743 $ 48,300 $ 209,347 (4) $ 430,164 $ 876,554 $ 851,045 $ 797,259 Recorded in: Canada $ 135,265 $ 28,383 $ 177,321 $ 281,918 $ 622,887 $ 603,352 $ 571,254 United States 41,340 143 924 52,404 94,811 100,715 87,626 United Kingdom – – 369 22,403 22,772 18,255 17,232 Mexico – 6,193 7,528 13,239 26,960 26,173 24,259 Peru 5,693 191 5,576 4,170 15,630 15,513 14,520 Chile 1,792 5,947 167 12,796 20,702 22,229 20,631 Colombia 37 637 4,996 4,216 9,886 9,578 9,184 Other International 4,616 6,806 12,466 39,018 62,906 55,230 52,553 Total (5) $ 188,743 $ 48,300 $ 209,347 $ 430,164 $ 876,554 $ 851,045 $ 797,259 (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 $157 (January 31, 2022 – (5) Deposits denominated in U.S. dollars amount to $306,726 (January 31, 2022 – (January 31, 2022 (January 31, 2022 – (January 31, 2022 – $ |
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 to Six to One to Over Total As at April 30, 2022 $ 46,662 $ 23,001 $ 50,159 $ 112,031 $ 22,406 $ 254,259 As at January 31, 2022 $ 46,763 $ 22,653 $ 36,392 $ 102,386 $ 21,922 $ 230,116 As at October 31, 2021 $ 34,829 $ 24,372 $ 30,918 $ 90,433 $ 20,688 $ 201,240 (1) The majority of foreign term deposits are in excess of $ 100,000 |
Capital management (Tables)
Capital management (Tables) | 6 Months Ended |
Apr. 30, 2022 | |
Text Block [Abstract] | |
Summary of Regulatory Capital and Capital Ratios | The Bank’s regulatory capital, total loss absorbing capacity and leverage measures were as follows: As at ($ millions) April 30 January 31 October 31 Capital (1) Common Equity Tier 1 capital $ 51,547 $ 52,150 $ 51,010 Net Tier 1 capital 57,201 57,911 57,915 Total regulatory capital 66,628 65,527 66,101 Total loss absorbing capacity (2) 133,841 122,613 115,681 Risk-weighted assets/exposures used in calculation of capital ratios Risk-weighted assets (1)(3) $ 445,273 $ 433,682 $ 416,105 Leverage exposures (4) 1,360,184 1,308,247 1,201,766 Regulatory ratios (1) Common Equity Tier 1 capital ratio 11.6 % 12.0 % 12.3 % Tier 1 capital ratio 12.8 % 13.4 % 13.9 % Total capital ratio 15.0 % 15.1 % 15.9 % Total loss absorbing capacity ratio (2) 30.1 % 28.3 % 27.8 % Leverage ratio (4) 4.2 % 4.4 % 4.8 % Total loss absorbing capacity leverage ratio (2) 9.8 % 9.4 % 9.6 % (1) This measure has been disclosed in this document in accordance with OSFI Guideline – Capital Adequacy Requirements (November 2018). (2) This measure has been disclosed in this document in accordance with OSFI Guideline – Total Loss Absorbing Capacity (September 2018). Results for October 31, 2021 are shown for comparative purposes and were not a regulatory requirement. (3) As at April 30, 2022, January 31, 2022 and October 31, 2021, the Bank did not have a regulatory capital floor add-on for CET1, Tier 1, Total capital and TLAC RWA. (4) This measure has been disclosed in this document in accordance with OSFI Guideline – Leverage Requirements (November 2018). |
Employee benefits (Tables)
Employee benefits (Tables) | 6 Months Ended |
Apr. 30, 2022 | |
Text Block [Abstract] | |
Summary of Expenses for Bank's Principal Plans | 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) April 30 January 31 April 30 April 30 January 31 April 30 Defined benefit service cost $ 78 $ 79 $ 95 $ 6 $ 5 $ 6 Interest on net defined benefit (asset) liability (2 ) (1 ) 10 11 12 11 Other 4 4 3 (5 ) (2 ) (4 ) Defined benefit expense $ 80 $ 82 $ 108 $ 12 $ 15 $ 13 Defined contribution expense $ 31 $ 30 $ 26 $ – $ – $ – Increase (decrease) in other comprehensive income related to employee benefits (2) $ 936 $ 109 $ 814 $ 119 $ 39 $ 73 For the six months ended Pension plans Other benefit plans ($ millions) April 30 April 30 April 30 April 30 Defined benefit service cost $ 157 $ 190 $ 11 $ 12 Interest on net defined benefit (asset) liability (3 ) 19 23 22 Other 8 6 (7 ) (4 ) Defined benefit expense $ 162 $ 215 $ 27 $ 30 Defined contribution expense $ 61 $ 49 $ – $ – Increase (decrease) in other comprehensive income related to employee benefits (2) $ 1,045 $ 1,451 $ 158 $ 77 (1) Other plans operated by certain subsidiaries of the Bank are not considered material and are not included in this note. (2) 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) | 6 Months Ended |
Apr. 30, 2022 | |
Text Block [Abstract] | |
Schedule of Operating Segments | For the three months ended April 30, 2022 Taxable equivalent basis ($ millions) Canadian International Global Global Other (1) Total Net interest income (2) $ 2,144 $ 1,687 $ 184 $ 360 $ 98 $ 4,473 Non-interest income (3)(4) 759 720 1,174 902 (86 ) 3,469 Total revenues 2,903 2,407 1,358 1,262 12 7,942 Provision for credit losses (12 ) 276 1 (46 ) – 219 Non-interest expenses 1,324 1,268 803 653 111 4,159 Provision for income taxes 412 182 145 167 (89 ) 817 Net income $ 1,179 $ 681 $ 409 $ 488 $ (10 ) $ 2,747 Net income attributable to non-controlling interests in $ – $ 76 $ 2 $ – $ – $ 78 Net income attributable to equity holders of the Bank $ 1,179 $ 605 $ 407 $ 488 $ (10 ) $ 2,669 Average assets ($ billions) $ 423 $ 204 $ 32 $ 431 $ 174 $ 1,264 Average liabilities ($ billions) $ 326 $ 149 $ 48 $ 400 $ 269 $ 1,192 (1) Includes all other smaller operating segments and corporate adjustments, such as the elimination of the tax-exempt income gross-up reported in net interest income and non-interest income and provision for income taxes of $92 to arrive at the amounts reported in the Consolidated Statement of Income, differences in the actual amount of costs incurred and charged to the operating segments. (2) Interest income is reported net of interest expense as management relies primarily on net interest income as a performance measure. (3) Card revenues and Banking services fees are mainly earned in Canadian and International Banking. Mutual fund, Brokerage fees and Investment management and trust fees are primarily earned in Global Wealth Management. 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 – $18, International Banking – $77, Global Wealth Management – $5, and Other – $(16). For the three months ended January 31, 2022 Taxable equivalent basis ($ millions) Canadian International Global Global Other (1) Total Net interest income (2) $ 2,133 $ 1,648 $ 174 $ 373 $ 16 $ 4,344 Non-interest income (3)(4) 741 749 1,248 1,031 (64 ) 3,705 Total revenues 2,874 2,397 1,422 1,404 (48 ) 8,049 Provision for credit losses (35 ) 274 (1 ) (16 ) – 222 Non-interest expenses 1,282 1,285 862 670 124 4,223 Provision for income taxes 426 208 146 189 (105 ) 864 Net income $ 1,201 $ 630 $ 415 $ 561 $ (67 ) $ 2,740 Net income attributable to non-controlling interests in subsidiaries $ – $ 85 $ 3 $ – $ – $ 88 Net income attributable to equity holders of the Bank $ 1,201 $ 545 $ 412 $ 561 $ (67 ) $ 2,652 Average assets ($ billions) $ 412 $ 196 $ 31 $ 444 $ 156 $ 1,239 Average liabilities ($ billions) $ 320 $ 144 $ 47 $ 407 $ 247 $ 1,165 (1) Includes all other smaller operating segments and corporate adjustments, such as the elimination of the tax-exempt income gross-up reported in net interest income and non-interest income and provision for income taxes of $92 to arrive at the amounts reported in the Consolidated Statement of Income, differences in the actual amount of costs incurred and charged to the operating segments. (2) Interest income is reported net of interest expense as management relies primarily on net interest income as a performance measure. (3) Card revenues and Banking services fees are mainly earned in Canadian and International Banking. Mutual fund, Brokerage fees and Investment management and trust fees are primarily earned in Global Wealth Management. 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 – $8, International Banking – $68, Global Wealth Management – $1, and Other – $14. For the three months ended April 30, 2021 Taxable equivalent basis ($ millions) Canadian International Global Global Other (1) Total Net interest income (2) $ 1,934 $ 1,662 $ 152 $ 350 $ 78 $ 4,176 Non-interest income (3)(4) 690 716 1,156 907 91 3,560 Total revenues 2,624 2,378 1,308 1,257 169 7,736 Provision for credit losses 145 396 (2 ) (43 ) – 496 Non-interest expenses 1,229 1,294 802 633 84 4,042 Provision for income taxes 323 181 134 150 (46 ) 742 Net income $ 927 $ 507 $ 374 $ 517 $ 131 $ 2,456 Net income attributable to non-controlling interests in subsidiaries $ – $ 87 $ 2 $ – $ 1 $ 90 Net income attributable to equity holders of the Bank $ 927 $ 420 $ 372 $ 517 $ 130 $ 2,366 Average assets ($ billions) $ 372 $ 194 $ 28 $ 399 $ 158 $ 1,151 Average liabilities ($ billions) $ 311 $ 149 $ 45 $ 398 $ 177 $ 1,080 (1) Includes all other smaller operating segments and corporate adjustments, such as the elimination of the tax-exempt income gross-up reported in net interest income and non-interest income and provision for income taxes of $76 to arrive at the amounts reported in the Consolidated Statement of Income, differences in the actual amount of costs incurred and charged to the operating segments. (2) Interest income is reported net of interest expense as management relies primarily on net interest income as a performance measure. (3) Card revenues and Banking services fees are mainly earned in Canadian and International Banking. Mutual fund, Brokerage fees and Investment management and trust fees are primarily earned in Global Wealth Management. 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 – $26, International Banking – $53, Global Wealth Management – $4, and Other – $30. For the six months ended April 30, 2022 Taxable equivalent basis ($ millions) Canadian International Global Global Other (1) Total Net interest income (2) $ 4,277 $ 3,335 $ 358 $ 733 $ 114 $ 8,817 Non-interest income (3)(4) 1,500 1,469 2,422 1,933 (150 ) 7,174 Total revenues 5,777 4,804 2,780 2,666 (36 ) 15,991 Provision for credit losses (47 ) 550 – (62 ) – 441 Non-interest expenses 2,606 2,553 1,665 1,323 235 8,382 Provision for income taxes 838 390 291 356 (194 ) 1,681 Net income $ 2,380 $ 1,311 $ 824 $ 1,049 $ (77 ) $ 5,487 Net income attributable to non-controlling interests in subsidiaries $ – $ 161 $ 5 $ – $ – $ 166 Net income attributable to equity holders of the Bank $ 2,380 $ 1,150 $ 819 $ 1,049 $ (77 ) $ 5,321 Average assets ($ billions) $ 417 $ 200 $ 32 $ 438 $ 164 $ 1,251 Average liabilities ($ billions) $ 323 $ 146 $ 48 $ 403 $ 258 $ 1,178 (1) Includes all other smaller operating segments and corporate adjustments, such as the elimination of the tax-exempt income gross-up reported in net interest income and non-interest income and provision for income taxes of $184 to arrive at the amounts reported in the Consolidated Statement of Income, differences in the actual amount of costs incurred and charged to the operating segments. (2) Interest income is reported net of interest expense as management relies primarily on net interest income as a performance measure. (3) Card revenues and Banking services fees are mainly earned in Canadian and International Banking. Mutual fund, Brokerage fees and Investment management and trust fees are primarily earned in Global Wealth Management. 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 – $26, International Banking – $145, Global Wealth Management – $6, and Other – $ ( ) For the six months ended April 30, 2021 Taxable equivalent basis ($ millions) Canadian International Global Wealth Global Other (1) Total Net interest income (2) $ 3,918 $ 3,450 $ 307 $ 708 $ 144 $ 8,527 Non-interest income (3)(4) 1,354 1,489 2,391 1,885 162 7,281 Total revenues 5,272 4,939 2,698 2,593 306 15,808 Provision for credit losses 360 921 2 (23 ) – 1,260 Non-interest expenses 2,433 2,696 1,619 1,247 255 8,250 Provision for income taxes 641 338 282 309 (126 ) 1,444 Net income $ 1,838 $ 984 $ 795 $ 1,060 $ 177 $ 4,854 Net income attributable to non-controlling interests in subsidiaries $ – $ 175 $ 5 $ – $ – $ 180 Net income attributable to equity holders of the Bank $ 1,838 $ 809 $ 790 $ 1,060 $ 177 $ 4,674 Average assets ($ billions) $ 370 $ 197 $ 28 $ 397 $ 162 $ 1,154 Average liabilities ($ billions) $ 308 $ 151 $ 43 $ 393 $ 188 $ 1,083 (1) Includes all other smaller operating segments and corporate adjustments, such as the elimination of the tax-exempt income gross-up reported in net interest income and non-interest income and provision for income taxes of $145 to arrive at the amounts reported in the Consolidated Statement of Income, differences in the actual amount of costs incurred and charged to the operating segments. (2) Interest income is reported net of interest expense as management relies primarily on net interest income as a performance measure. (3) Card revenues and Banking services fees are mainly earned in Canadian and International Banking. Mutual fund, Brokerage fees and Investment management and trust fees are primarily earned in Global Wealth Management. 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 – $46, International Banking – $102, Global Wealth Management – $7, and Other – $15. |
Interest income and expense (Ta
Interest income and expense (Tables) | 6 Months Ended |
Apr. 30, 2022 | |
Text Block [Abstract] | |
Details of Interest Income and Interest Expense from Financial Instruments | For the three months ended For the six months ended April 30, 2022 January 31, 2022 April 30, 2021 April 30, 2022 April 30, 2021 ($ millions) Interest Interest Interest Interest Interest Interest Interest income Interest Interest Interest Measured at amortized cost (1) $ 6,654 $ 2,581 $ 6,150 $ 2,069 $ 5,897 $ 1,962 $ 12,804 $ 4,650 $ 12,109 $ 4,088 Measured at FVOCI (1) 261 – 181 – 181 – 442 – 369 – 6,915 2,581 6,331 2,069 6,078 1,962 13,246 4,650 12,478 4,088 Other 177 (2) 38 (3) 132 (2) 50 (3) 109 (2) 49 (3) 309 (2) 88 (3) 221 (2) 84 (3) Total $ 7,092 $ 2,619 $ 6,463 $ 2,119 $ 6,187 $ 2,011 $ 13,555 $ 4,738 $ 12,699 $ 4,172 (1) The interest income/expense on financial assets/liabilities are calculated using the effective interest method. (2) Includes dividend income on equity securities. (3) Includes interest on lease liabilities for the three months ended April 30, 2022 – $26 (January 31, 2022 – $27; April 30, 2021 – $27) and for the six months ended April 30, 2022 – $53 (April 30, 2021 – $54). |
Earnings per share (Tables)
Earnings per share (Tables) | 6 Months Ended |
Apr. 30, 2022 | |
Text Block [Abstract] | |
Summary of Earnings Per Share | For the three months ended For the six months ended ($ millions) April 30 January 31 April 30 April 30 April 30 Basic earnings per common share Net income attributable to common shareholders $ 2,595 $ 2,608 $ 2,289 $ 5,203 $ 4,554 Weighted average number of common shares outstanding (millions) 1,199 1,211 1,213 1,205 1,213 Basic earnings per common share (1) (in dollars) $ 2.16 $ 2.15 $ 1.89 $ 4.32 $ 3.76 Diluted earnings per common share Net income attributable to common shareholders $ 2,595 $ 2,608 $ 2,289 $ 5,203 $ 4,554 Dilutive impact of share-based payment options and others (2) – 24 13 67 116 Net income attributable to common shareholders (diluted) $ 2,595 $ 2,632 $ 2,302 $ 5,270 $ 4,670 Weighted average number of common shares outstanding (millions) 1,199 1,211 1,213 1,205 1,213 Dilutive impact of share-based payment options and others (2) (millions) 2 19 10 20 35 Weighted average number of diluted common shares outstanding (millions) 1,201 1,230 1,223 1,225 1,248 Diluted earnings per common share (1) (in dollars) $ 2.16 $ 2.14 $ 1.88 $ 4.30 $ 3.74 (1) Earnings per share calculations are based on full dollar and share amounts. (2) Certain 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) | 6 Months Ended |
Apr. 30, 2022 | |
Statement [Line Items] | |
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 exposures and product type for retail exposures. Exposure at default (1) As at April 30, 2022 January 31 October 31 ($ millions) AIRB Standardized Total Total Total By exposure sub-type Non-retail Drawn (2)(3) $ 446,169 $ 66,748 $ 512,917 $ 493,548 $ 459,902 Undrawn commitments 116,895 3,806 120,701 118,970 117,213 Other exposures (4) 110,511 7,771 118,282 121,331 119,923 Total non-retail $ 673,575 $ 78,325 $ 751,900 $ 733,849 $ 697,038 Retail Drawn (5) $ 271,657 $ 99,421 $ 371,078 $ 360,789 $ 345,947 Undrawn commitments 54,321 – 54,321 52,994 51,020 Total retail $ 325,978 $ 99,421 $ 425,399 $ 413,783 $ 396,967 Total $ 999,553 $ 177,746 $ 1,177,299 $ 1,147,632 $ 1,094,005 (1) After credit risk mitigation and excludes equity securities and other assets. (2) Non-retail AIRB drawn exposures include government guaranteed and privately insured mortgages. (3) Non-retail drawn includes loans, bankers’ acceptances, deposits with financial institutions and FVOCI debt securities. (4) Includes off-balance sheet lending instruments such as letters of credit, letters of guarantee, securitizations, over-the-counter derivatives and repo-style transactions net of related collateral. (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 April 30, 2022 April 30 January 31 April 30 ($ millions) Average High Low 2022 2022 2021 Credit spread plus interest rate $ 10.4 $ 13.7 $ 7.2 $ 10.2 $ 14.0 $ 10.8 Credit spread 5.7 8.6 4.0 5.5 5.9 4.8 Interest rate 9.6 14.6 7.8 9.6 14.1 13.9 Equities 4.0 6.8 1.7 5.1 2.2 9.4 Foreign exchange 2.0 3.7 1.3 1.8 1.4 3.0 Commodities 2.8 5.6 1.3 5.6 1.7 4.1 Debt specific 2.1 2.6 1.7 2.0 2.0 2.3 Diversification effect (9.4 ) – – (12.0 ) (7.4 ) (13.0 ) Total VaR $ 11.9 $ 15.6 $ 7.8 $ 12.7 $ 13.9 $ 16.6 Total Stressed VaR $ 26.4 $ 41.0 $ 16.8 $ 25.7 $ 24.7 $ 37.6 |
Fair Value of Financial Liabilities Designated at Fair Value Through Profit or Loss and Changes in Fair Value | The following table presents the fair value of 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) April 30 January 31 April 30 April 30 January 31 April 30 April 30 January 31 April 30 Liabilities Senior note liabilities (2) $ 21,927 $ 23,979 $ 20,406 $ 3,913 $ 902 $ 197 $ 4,108 $ 195 $ (350 ) (1) The cumulative change in fair value is measured from the instruments’ date of initial recognition. (2) 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 income – trading revenues. The offsetting fair value changes from associated derivatives is also recorded in non-interest income – trading revenues. |
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 Carrying value Difference Changes in fair value Cumulative changes (1) As at April 30, 2022 $ 26,035 $ 21,927 $ 4,108 $ 787 $ 289 As at January 31, 2022 $ 24,174 $ 23,979 $ 195 $ 231 $ (498 ) As at April 30, 2021 $ 20,056 $ 20,406 $ (350 ) $ (140 ) $ (777 ) (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 assets, such as property and equipment, investments in associates, precious metals, goodwill and other intangible assets. As at April 30, 2022 January 31, 2022 October 31, 2021 ($ millions) Total fair Total Total fair Total Total fair Total Assets: Cash and deposits with financial institutions $ 85,910 $ 85,910 $ 99,053 $ 99,053 $ 86,323 $ 86,323 Trading assets 133,644 133,644 152,947 152,947 146,312 146,312 Securities purchased under resale agreements and securities borrowed 148,706 148,706 132,714 132,714 127,739 127,739 Derivative financial instruments 54,608 54,608 40,655 40,655 42,302 42,302 Investment securities – fair value 83,788 83,788 64,123 64,123 57,042 57,042 Investment securities – amortized cost 16,107 16,699 17,453 17,576 18,133 18,157 Loans 684,215 689,702 666,622 667,338 641,964 636,986 Customers’ liability under acceptances 19,043 19,043 20,901 20,901 20,404 20,404 Other financial assets 19,349 19,349 14,625 14,625 14,256 14,256 Liabilities: Deposits 869,308 876,554 848,941 851,045 798,335 797,259 Financial instruments designated at fair value through profit or loss 21,927 21,927 23,979 23,979 22,493 22,493 Acceptances 19,070 19,070 20,934 20,934 20,441 20,441 Obligations related to securities sold short 44,620 44,620 46,133 46,133 40,954 40,954 Derivative financial instruments 57,123 57,123 39,697 39,697 42,203 42,203 Obligations related to securities sold under repurchase agreements and securities lent 131,978 131,978 122,878 122,878 123,469 123,469 Subordinated debentures 8,360 8,447 6,666 6,338 6,733 6,334 Other financial liabilities 41,679 41,949 44,078 44,348 39,802 40,254 |
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 April 30, 2022 January 31, 2022 ($ 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) $ – $ 1,056 $ – $ 1,056 $ – $ 527 $ – $ 527 Trading assets Loans – 8,483 – 8,483 – 8,494 – 8,494 Canadian federal government and government guaranteed debt 7,630 3,716 – 11,346 6,228 3,626 – 9,854 Canadian provincial and municipal debt 4,000 4,608 – 8,608 3,935 5,039 – 8,974 US treasury and other US agencies’ debt 7,552 100 – 7,652 9,601 48 – 9,649 Other foreign governments’ debt 76 9,106 – 9,182 159 8,059 – 8,218 Corporate and other debt 2,667 9,070 1 11,738 2,529 9,191 2 11,722 Equity securities 74,813 71 3 74,887 94,478 123 3 94,604 Other – 1,748 – 1,748 – 1,432 – 1,432 $ 96,738 $ 36,902 $ 4 $ 133,644 $ 116,930 $ 36,012 $ 5 $ 152,947 Investment securities (2) Canadian federal government and government guaranteed debt $ 5,011 $ 4,700 $ – $ 9,711 $ 3,992 $ 4,412 $ – $ 8,404 Canadian provincial and municipal debt 1,711 3,490 – 5,201 1,336 4,007 – 5,343 US treasury and other US agencies’ debt 33,515 2,019 – 35,534 13,925 2,238 – 16,163 Other foreign governments’ debt 189 26,261 17 26,467 153 27,998 18 28,169 Corporate and other debt 36 1,406 60 1,502 69 1,108 24 1,201 Equity securities 3,659 233 1,481 5,373 3,157 233 1,453 4,843 $ 44,121 $ 38,109 $ 1,558 $ 83,788 $ 22,632 $ 39,996 $ 1,495 $ 64,123 Derivative financial instruments Interest rate contracts $ – $ 9,923 $ 8 $ 9,931 $ – $ 12,568 $ 2 $ 12,570 Foreign exchange and gold contracts – 26,027 – 26,027 – 16,833 – 16,833 Equity contracts 251 8,273 26 8,550 334 3,964 20 4,318 Credit contracts – 487 – 487 – 342 – 342 Commodity contracts – 9,602 11 9,613 – 6,585 7 6,592 $ 251 $ 54,312 $ 45 $ 54,608 $ 334 $ 40,292 $ 29 $ 40,655 Liabilities: Deposits $ – $ 106 $ – $ 106 $ – $ 174 $ – $ 174 Financial liabilities designated at fair value through profit or loss – 21,840 87 21,927 – 23,842 137 23,979 Obligations related to securities sold short 38,131 6,487 2 44,620 38,114 8,017 2 46,133 Derivative financial instruments Interest rate contracts – 17,835 7 17,842 – 13,494 17 13,511 Foreign exchange and gold contracts – 27,261 – 27,261 – 17,374 – 17,374 Equity contracts 524 2,904 6 3,434 364 3,069 4 3,437 Credit contracts – 27 – 27 – 26 – 26 Commodity contracts – 8,553 6 8,559 – 5,341 8 5,349 $ 524 $ 56,580 $ 19 $ 57,123 $ 364 $ 39,304 $ 29 $ 39,697 (1) The fair value of precious metals is determined based on quoted market prices and forward spot prices, where applicable. (2) Excludes debt investment securities measured at amortized cost of $16,699 (January 31, 2022 – $17,576). As at October 31, 2021 ($ millions) Level 1 Level 2 Level 3 Total Instruments carried at fair value on a recurring basis: Assets: Precious metals (1) $ – $ 755 $ – $ 755 Trading assets Loans – 8,113 – 8,113 Canadian federal government and government guaranteed debt 9,272 3,842 – 13,114 Canadian provincial and municipal debt 5,556 4,298 – 9,854 US treasury and other US agencies’ debt 6,760 63 – 6,823 Other foreign governments’ debt 129 9,559 – 9,688 Corporate and other debt 2,595 9,185 40 11,820 Equity securities 85,688 160 1 85,849 Other – 1,051 – 1,051 $ 110,000 $ 36,271 $ 41 $ 146,312 Investment securities (2) Canadian federal government and government guaranteed debt $ 1,125 $ 4,679 $ – $ 5,804 Canadian provincial and municipal debt 1,937 3,218 – 5,155 US treasury and other US agencies’ debt 11,462 2,175 – 13,637 Other foreign governments’ debt 67 26,605 17 26,689 Corporate and other debt 10 1,319 27 1,356 Equity securities 2,879 218 1,304 4,401 $ 17,480 $ 38,214 $ 1,348 $ 57,042 Derivative financial instruments Interest rate contracts $ – $ 13,124 $ 1 $ 13,125 Foreign exchange and gold contracts – 18,293 – 18,293 Equity contracts 184 3,513 21 3,718 Credit contracts – 245 – 245 Commodity contracts – 6,921 – 6,921 $ 184 $ 42,096 $ 22 $ 42,302 Liabilities: Deposits $ – $ 175 $ – $ 175 Financial liabilities designated at fair value through profit or loss – 22,354 139 22,493 Obligations related to securities sold short 35,487 5,467 – 40,954 Derivative financial instruments Interest rate contracts – 13,148 15 13,163 Foreign exchange and gold contracts – 18,171 – 18,171 Equity contracts 307 4,737 6 5,050 Credit contracts – 30 – 30 Commodity contracts – 5,789 – 5,789 $ 307 $ 41,875 $ 21 $ 42,203 (1) The fair value of precious metals is determined based on quoted market prices and forward spot prices, where applicable. (2) Excludes debt investment securities measured at amortized cost of $18,157. |
Summary of Changes in Level 3 Instruments Carried at Fair Value | The following table summarizes the changes in Level 3 instruments carried at fair value for the three months ended April 30, 2022. All positive balances represent assets and negative balances represent liabilities. Consequently, positive amounts indicate purchases of assets or settlements of liabilities and negative amounts indicate sales of assets or issuances of liabilities. As at April 30, 2022 ($ millions) Fair Gains/ Gains/ Purchases/ Sales/ Transfers Fair Changes in (1) Trading assets Corporate and other debt $ 2 $ (2 ) $ – $ – $ – $ 1 $ 1 $ (2 ) Equity securities 3 – – 2 – (2 ) 3 – 5 (2 ) – 2 – (1 ) 4 (2 ) Investment securities Other foreign governments’ debt 18 – (1 ) – – – 17 n/a Corporate and other debt 24 – (6 ) 42 – – 60 – Equity securities 1,453 58 4 74 (103 ) (5 ) 1,481 58 1,495 58 (3 ) 116 (103 ) (5 ) 1,558 58 Derivative financial instruments – assets Interest rate contracts 2 6 – – – – 8 6 Equity contracts 20 4 – 1 – 1 26 4 (2) Commodity contracts 7 4 – – – – 11 4 Derivative financial instruments – liabilities Interest rate contracts (17 ) (5 ) – – – 15 (7 ) (5 ) (3) Equity contracts (4 ) (1 ) – (1 ) – – (6 ) (1 ) (2) Commodity contracts (8 ) 2 – – – – (6 ) 2 – 10 – – – 16 26 10 Financial liabilities designated at fair value through profit or loss (137 ) 25 – (22 ) – 47 (87 ) 7 Obligations related to securities sold short (2 ) – – – – – (2 ) – Total $ 1,361 $ 91 $ (3) $ 96 $ (103) $ 57 $ 1,499 $ 73 (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 changes on other instruments included in trading revenues in the Consolidated Statement of Income, since these instruments act as an economic hedge to certain derivative assets and liabilities. (3) Certain unrealized losses on interest rate derivative contracts are largely offset by mark-to-market changes on embedded derivatives on certain deposit liabilities in the Consolidated Statement of Income. The following tables summarize the changes in Level 3 instruments carried at fair value for the three months ended January 31, 2022 and October 31, 2021. As at January 31, 2022 ($ millions) Fair value, Gains/ (1) Gains/ Purchases/ Sales/ Transfers Fair value, Trading assets $ 41 $ – $ – $ – $ (31 ) $ (5 ) $ 5 Investment securities 1,348 66 5 102 (30 ) 4 1,495 Derivative financial instruments 1 (3 ) – – – 2 – Financial liabilities designated at fair value through profit or loss (139 ) 2 – – – – (137 ) Obligations related to securities sold short – – – – – (2) (2 ) (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. As at October 31, 2021 ($ millions) Fair value, Gains/ (losses) recorded (1) Gains/ Purchases/ Sales/ Transfers Fair value, Trading assets $ 4 $ (1 ) $ – $ 28 $ – $ 10 $ 41 Investment securities 1,190 83 28 78 (32 ) 1 1,348 Derivative financial instruments (35 ) 4 – (12) 51 (7 ) 1 Financial liabilities designated at fair value through profit or loss (119 ) – – (20 ) – – (139 ) (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. |
Cash and Deposits with Financ_3
Cash and Deposits with Financial Institutions - Summary of Cash and Deposits with Financial Institutions (Detail) - CAD ($) $ in Millions | Apr. 30, 2022 | Jan. 31, 2022 | Oct. 31, 2021 | Apr. 30, 2021 | Jan. 31, 2021 | Oct. 31, 2020 | |
Disclosure Of Cash And Cash Equivalents [abstract] | |||||||
Cash and non-interest-bearing deposits with financial institutions | [1] | $ 10,643 | $ 10,563 | $ 9,693 | $ 7,940 | $ 9,443 | $ 11,123 |
Interest-bearing deposits with financial institutions | 75,267 | 88,490 | 76,630 | ||||
Total | [2] | $ 85,910 | $ 99,053 | $ 86,323 | |||
[1] | Represents cash and non-interest-bearing deposits with financial institutions (refer to Note 5). | ||||||
[2] | Net of allowances of $0 (January 31, 2022 – $1; October 31, 2021 – $1). |
Cash and Deposits with Financ_4
Cash and Deposits with Financial Institutions - Summary of Cash and Deposits with Financial Institutions (Parenthetical) (Detail) - CAD ($) $ in Millions | Apr. 30, 2022 | Jan. 31, 2022 | Oct. 31, 2021 |
Cash And Deposits With Financial Institutions [member] | |||
Cash And Cash Equivalents And Short-term Deposits [line items] | |||
Net of allowances | $ 2 | $ 1 | $ 1 |
Cash and Deposits with Financ_5
Cash and Deposits with Financial Institutions - Additional Information (Detail) - CAD ($) $ in Millions | Apr. 30, 2022 | Jan. 31, 2022 | Oct. 31, 2021 |
Mandatory Reserve Deposits At Central Banks [abstract] | |||
Cash balances required to maintain with central banks, other regulatory authorities and certain counterparties | $ 5,634 | $ 5,162 | $ 5,719 |
Investment Securities - Disclos
Investment Securities - Disclosure of Carrying Value of Banks Investment Securities Per Measurement Category (Detail) - CAD ($) $ in Millions | Apr. 30, 2022 | Jan. 31, 2022 | Oct. 31, 2021 |
Disclosure of financial assets [line items] | |||
Investment securities | $ 100,487 | $ 81,699 | $ 75,199 |
Debt Investments [member] | Financial assets measured at fair value through other comprehensive income, category [member] | |||
Disclosure of financial assets [line items] | |||
Investment securities | 78,343 | 59,249 | 52,611 |
Debt Investments [member] | Financial assets at amortised cost, category [member] | |||
Disclosure of financial assets [line items] | |||
Investment securities | 16,699 | 17,576 | 18,157 |
Debt Investments [member] | Financial assets at fair value through profit or loss, category [member] | |||
Disclosure of financial assets [line items] | |||
Investment securities | 72 | 31 | 30 |
Equity securities [member] | Investments in equity instruments designated at fair value through other comprehensive income [member] | |||
Disclosure of financial assets [line items] | |||
Investment securities | 3,797 | 3,542 | 3,178 |
Equity securities [member] | Financial assets at fair value through profit or loss, category [member] | |||
Disclosure of financial assets [line items] | |||
Investment securities | $ 1,576 | $ 1,301 | $ 1,223 |
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 | Apr. 30, 2022 | Jan. 31, 2022 | Oct. 31, 2021 |
Disclosure of financial assets [line items] | |||
Cost | $ 80,789 | $ 59,903 | $ 52,889 |
Gross unrealized gains | 54 | 268 | 404 |
Gross unrealized losses | 2,500 | 922 | 682 |
Fair value | 78,343 | 59,249 | 52,611 |
Canadian federal government issued or guaranteed debt [member] | |||
Disclosure of financial assets [line items] | |||
Cost | 9,913 | 8,355 | 5,694 |
Gross unrealized gains | 3 | 93 | 135 |
Gross unrealized losses | 205 | 44 | 25 |
Fair value | 9,711 | 8,404 | 5,804 |
Canadian provincial and municipal debt [member] | |||
Disclosure of financial assets [line items] | |||
Cost | 5,494 | 5,428 | 5,202 |
Gross unrealized gains | 2 | 7 | 12 |
Gross unrealized losses | 295 | 92 | 59 |
Fair value | 5,201 | 5,343 | 5,155 |
U.S. treasury and other U.S. agency debt [member] | |||
Disclosure of financial assets [line items] | |||
Cost | 36,576 | 16,264 | 13,528 |
Gross unrealized gains | 17 | 115 | 188 |
Gross unrealized losses | 1,059 | 216 | 79 |
Fair value | 35,534 | 16,163 | 13,637 |
Other foreign government debt [member] | |||
Disclosure of financial assets [line items] | |||
Cost | 27,329 | 28,667 | 27,126 |
Gross unrealized gains | 31 | 48 | 60 |
Gross unrealized losses | 911 | 565 | 515 |
Fair value | 26,449 | 28,150 | 26,671 |
Other debt [member] | |||
Disclosure of financial assets [line items] | |||
Cost | 1,477 | 1,189 | 1,339 |
Gross unrealized gains | 1 | 5 | 9 |
Gross unrealized losses | 30 | 5 | 4 |
Fair value | $ 1,448 | $ 1,189 | $ 1,344 |
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 | Apr. 30, 2022 | Jan. 31, 2022 | Oct. 31, 2021 |
Financial assets at fair value, investment securities [member] | |||
Disclosure of financial assets [line items] | |||
Cost | $ 16,107 | $ 17,453 | $ 18,133 |
Financial assets at fair value, investment securities [member] | Canadian federal government issued or guaranteed debt [member] | |||
Disclosure of financial assets [line items] | |||
Cost | 10,437 | 11,674 | 12,310 |
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 | 4,536 | 4,651 | 4,712 |
Financial assets at fair value, investment securities [member] | Other foreign government debt [member] | |||
Disclosure of financial assets [line items] | |||
Cost | 1,013 | 996 | 970 |
Financial assets at fair value, investment securities [member] | Corporate debt [member] | |||
Disclosure of financial assets [line items] | |||
Cost | 121 | 132 | 141 |
Financial assets at carrying value, investment securities [member] | |||
Disclosure of financial assets [line items] | |||
Cost | 16,699 | 17,576 | 18,157 |
Financial assets at carrying value, investment securities [member] | Canadian federal government issued or guaranteed debt [member] | |||
Disclosure of financial assets [line items] | |||
Cost | 10,713 | 11,770 | 12,372 |
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 | 4,863 | 4,694 | 4,687 |
Financial assets at carrying value, investment securities [member] | Other foreign government debt [member] | |||
Disclosure of financial assets [line items] | |||
Cost | 1,013 | 986 | 960 |
Financial assets at carrying value, investment securities [member] | Corporate debt [member] | |||
Disclosure of financial assets [line items] | |||
Cost | $ 110 | $ 126 | $ 138 |
Investment Securities - Summa_2
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 | Apr. 30, 2022 | Jan. 31, 2022 | Oct. 31, 2021 |
Disclosure of financial assets [line items] | |||
Cost | $ 3,209 | $ 2,945 | $ 2,737 |
Gross unrealized gains | 676 | 658 | 532 |
Gross unrealized losses | 88 | 61 | 91 |
Fair value | 3,797 | 3,542 | 3,178 |
Preferred equity instruments [member] | |||
Disclosure of financial assets [line items] | |||
Cost | 36 | 27 | |
Gross unrealized gains | 5 | 4 | |
Gross unrealized losses | 5 | 3 | |
Fair value | 36 | 28 | |
Common shares [member] | |||
Disclosure of financial assets [line items] | |||
Cost | 3,209 | 2,909 | 2,710 |
Gross unrealized gains | 676 | 653 | 528 |
Gross unrealized losses | 88 | 56 | 88 |
Fair value | $ 3,797 | $ 3,506 | $ 3,150 |
Investment Securities - Additio
Investment Securities - Additional Information (Detail) - CAD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Apr. 30, 2022 | Jan. 31, 2022 | Apr. 30, 2021 | Apr. 30, 2022 | Apr. 30, 2021 | |
Disclosure of detailed information about financial instruments [line items] | |||||
Fair value of disposed equity securities | $ 196 | $ 381 | $ 523 | $ 577 | $ 704 |
Cumulative after-tax gain on equity securities designated at FVOCI | 43 | 36 | 72 | 79 | 111 |
Dividend income | $ 42 | $ 38 | $ 26 | $ 80 | $ 52 |
Loans, Impaired Loans and All_3
Loans, Impaired Loans and Allowance for Credit Losses - Schedule of Loans at Amortized Cost (Detail) - CAD ($) $ in Millions | Apr. 30, 2022 | Jan. 31, 2022 | Oct. 31, 2021 |
Gross carrying amount [member] | |||
Disclosure of fair value financial assets amortised cost [line Items] | |||
Financial assets | $ 694,996 | $ 672,830 | $ 642,612 |
Gross carrying amount [member] | Residential mortgages [member] | |||
Disclosure of fair value financial assets amortised cost [line Items] | |||
Financial assets | 337,714 | 330,991 | 319,678 |
Gross carrying amount [member] | Loans to consumers [member] | |||
Disclosure of fair value financial assets amortised cost [line Items] | |||
Financial assets | 94,437 | 92,622 | 91,540 |
Gross carrying amount [member] | Credit Card [member] | |||
Disclosure of fair value financial assets amortised cost [line Items] | |||
Financial assets | 13,622 | 13,145 | 12,450 |
Gross carrying amount [member] | Business and government [member] | |||
Disclosure of fair value financial assets amortised cost [line Items] | |||
Financial assets | 249,223 | 236,072 | 218,944 |
Net Carrying Amount [member] | |||
Disclosure of fair value financial assets amortised cost [line Items] | |||
Financial assets | 689,702 | 667,338 | 636,986 |
Net Carrying Amount [member] | Residential mortgages [member] | |||
Disclosure of fair value financial assets amortised cost [line Items] | |||
Financial assets | 336,880 | 330,156 | 318,876 |
Net Carrying Amount [member] | Loans to consumers [member] | |||
Disclosure of fair value financial assets amortised cost [line Items] | |||
Financial assets | 92,266 | 90,373 | 89,199 |
Net Carrying Amount [member] | Credit Card [member] | |||
Disclosure of fair value financial assets amortised cost [line Items] | |||
Financial assets | 12,515 | 11,980 | 11,239 |
Net Carrying Amount [member] | Business and government [member] | |||
Disclosure of fair value financial assets amortised cost [line Items] | |||
Financial assets | 248,041 | 234,829 | 217,672 |
Financial assets individually assessed for credit losses [member] | |||
Disclosure of fair value financial assets amortised cost [line Items] | |||
Financial assets | 5,294 | 5,492 | 5,626 |
Financial assets individually assessed for credit losses [member] | Residential mortgages [member] | |||
Disclosure of fair value financial assets amortised cost [line Items] | |||
Financial assets | 834 | 835 | 802 |
Financial assets individually assessed for credit losses [member] | Loans to consumers [member] | |||
Disclosure of fair value financial assets amortised cost [line Items] | |||
Financial assets | 2,171 | 2,249 | 2,341 |
Financial assets individually assessed for credit losses [member] | Credit Card [member] | |||
Disclosure of fair value financial assets amortised cost [line Items] | |||
Financial assets | 1,107 | 1,165 | 1,211 |
Financial assets individually assessed for credit losses [member] | Business and government [member] | |||
Disclosure of fair value financial assets amortised cost [line Items] | |||
Financial assets | $ 1,182 | $ 1,243 | $ 1,272 |
Loans, Impaired Loans and All_4
Loans, Impaired Loans and Allowance for Credit Losses - Impaired Loans (Detail) - CAD ($) $ in Millions | Apr. 30, 2022 | Jan. 31, 2022 | Oct. 31, 2021 |
Disclosure of detailed information about financial instruments [line items] | |||
Gross impaired loans | $ 694,996 | $ 672,830 | $ 642,612 |
Allowance for credit losses | 5,294 | 5,492 | 5,626 |
Net | 689,702 | 667,338 | 636,986 |
Residential mortgages [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gross impaired loans | 337,714 | 319,678 | |
Allowance for credit losses | 834 | 802 | |
Net | 336,880 | 318,876 | |
Loans to consumers [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gross impaired loans | 94,437 | 91,540 | |
Allowance for credit losses | 2,171 | 2,341 | |
Net | 92,266 | 89,199 | |
Business and government [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gross impaired loans | 249,223 | 218,944 | |
Allowance for credit losses | 1,182 | 1,272 | |
Net | 248,041 | 217,672 | |
Financial instruments credit-impaired [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gross impaired loans | 4,264 | 4,435 | 4,456 |
Allowance for credit losses | 1,604 | 1,623 | 1,655 |
Net | 2,660 | 2,812 | 2,801 |
Financial instruments credit-impaired [member] | Canada [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gross impaired loans | 968 | 1,055 | 1,090 |
Allowance for credit losses | 412 | 426 | 446 |
Net | 556 | 629 | 644 |
Financial instruments credit-impaired [member] | United States [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gross impaired loans | 16 | 24 | |
Allowance for credit losses | 4 | ||
Net | 16 | 20 | |
Financial instruments credit-impaired [member] | Mexico [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gross impaired loans | 795 | 775 | 758 |
Allowance for credit losses | 289 | 281 | 269 |
Net | 506 | 494 | 489 |
Financial instruments credit-impaired [member] | Peru [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gross impaired loans | 676 | 716 | 699 |
Allowance for credit losses | 353 | 350 | 350 |
Net | 323 | 366 | 349 |
Financial instruments credit-impaired [member] | Chile [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gross impaired loans | 543 | 540 | 512 |
Allowance for credit losses | 189 | 194 | 180 |
Net | 354 | 346 | 332 |
Financial instruments credit-impaired [member] | Colombia [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gross impaired loans | 377 | 373 | 418 |
Allowance for credit losses | 78 | 78 | 88 |
Net | 299 | 295 | 330 |
Financial instruments credit-impaired [member] | Other International [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gross impaired loans | 905 | 960 | 955 |
Allowance for credit losses | 283 | 294 | 318 |
Net | 622 | 666 | 637 |
Financial instruments credit-impaired [member] | Residential mortgages [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gross impaired loans | 1,273 | 1,320 | 1,331 |
Allowance for credit losses | 393 | 395 | 374 |
Net | 880 | 925 | 957 |
Financial instruments credit-impaired [member] | Loans to consumers [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gross impaired loans | 767 | 820 | 833 |
Allowance for credit losses | 566 | 574 | 626 |
Net | 201 | 246 | 207 |
Financial instruments credit-impaired [member] | Business and government [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gross impaired loans | 2,224 | 2,295 | 2,292 |
Allowance for credit losses | 645 | 654 | 655 |
Net | $ 1,579 | $ 1,641 | $ 1,637 |
Loans, Impaired Loans and All_5
Loans, Impaired Loans and Allowance for Credit Losses - Impaired Loans (Parenthetical) (Detail) - CAD ($) $ in Millions | 3 Months Ended | ||
Apr. 30, 2022 | Jan. 31, 2022 | Oct. 31, 2021 | |
Impaired loans [abstract] | |||
Interest income recognized on impaired loans | $ 11 | $ 13 | $ 12 |
Interest income, not classified as impaired loans | $ 63 | $ 61 | $ 58 |
Loans, Impaired Loans and All_6
Loans, Impaired Loans and Allowance for Credit Losses - Summary of Key Macroeconomic Variables Used for Allowance for Credit Losses Calculations (Detail) | 3 Months Ended | ||
Apr. 30, 2022$ / bbl$ / lb | Jan. 31, 2022$ / bbl$ / lb | Oct. 31, 2021$ / bbl$ / lb | |
Base case scenario [member] | Canada [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 4.60% | 4.20% | 3.40% |
Unemployment rate, average % | 5.00% | 5.20% | 6.30% |
Bank of Canada overnight rate target, average % | 2.20% | 0.90% | 0.30% |
HPI - Housing Price Index, y/y % change | 16.60% | 9.90% | 11.10% |
USD/CAD exchange rate, average | 1.21 | 1.21 | 1.24 |
Base case scenario [member] | Canada [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 2.00% | 1.60% | 1.90% |
Unemployment rate, average % | 6.10% | 5.50% | 5.70% |
Bank of Canada overnight rate target, average % | 2.40% | 2.40% | 2.00% |
HPI - Housing Price Index, y/y % change | (0.70%) | 1.90% | 2.10% |
USD/CAD exchange rate, average | 1.23 | 1.2 | 1.21 |
Base case scenario [member] | United States [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 3.90% | 4.20% | 5.70% |
Unemployment rate, average % | 3.80% | 4.10% | 3.80% |
Base case scenario [member] | United States [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 1.90% | 1.90% | 1.60% |
Unemployment rate, average % | 4.20% | 4.20% | 3.50% |
Base case scenario [member] | Mexico [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 1.70% | 2.80% | 2.80% |
Unemployment rate, average % | 4.00% | 4.00% | 4.00% |
Base case scenario [member] | Mexico [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 1.80% | 1.90% | 1.90% |
Unemployment rate, average % | 3.90% | 3.80% | 4.00% |
Base case scenario [member] | Chile [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 1.80% | 4.60% | 6.70% |
Unemployment rate, average % | 6.20% | 6.60% | 6.50% |
Base case scenario [member] | Chile [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 2.10% | 3.00% | 2.20% |
Unemployment rate, average % | 5.90% | 6.30% | 6.20% |
Base case scenario [member] | Peru [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 2.60% | 2.60% | 5.00% |
Unemployment rate, average % | 7.80% | 8.70% | 8.80% |
Base case scenario [member] | Peru [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 3.00% | 3.00% | 3.20% |
Unemployment rate, average % | 7.00% | 7.40% | 7.50% |
Base case scenario [member] | Colombia [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 4.30% | 4.50% | 5.00% |
Unemployment rate, average % | 10.80% | 10.80% | 13.70% |
Base case scenario [member] | Colombia [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 3.50% | 3.50% | 3.50% |
Unemployment rate, average % | 10.30% | 10.40% | 11.20% |
Base case scenario [member] | Caribbean [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 4.60% | 4.80% | 4.90% |
Base case scenario [member] | Caribbean [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 4.00% | 4.00% | 4.10% |
Base case scenario [member] | Global WTI oil price [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Average price of hedging instrument | $ / bbl | 96 | 69 | 69 |
Base case scenario [member] | Global WTI oil price [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Average price of hedging instrument | $ / bbl | 77 | 71 | 70 |
Base case scenario [member] | Global Copper price [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Average price of hedging instrument | $ / lb | 4.18 | 4.25 | 4.2 |
Base case scenario [member] | Global Copper price [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Average price of hedging instrument | $ / lb | 4.2 | 4.15 | 4.2 |
Base case scenario [member] | Global GDP and PPP [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Global GDP, PPP-weighted, y/y % change | 3.91% | 4.32% | 5.07% |
Base case scenario [member] | Global GDP and PPP [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Global GDP, PPP-weighted, y/y % change | 2.72% | 3.57% | 3.02% |
Optimistic scenario [member] | Canada [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 6.60% | 6.10% | 5.30% |
Unemployment rate, average % | 4.20% | 4.50% | 5.60% |
Bank of Canada overnight rate target, average % | 2.80% | 1.50% | 0.90% |
HPI - Housing Price Index, y/y % change | 19.50% | 12.50% | 13.20% |
USD/CAD exchange rate, average | 1.2 | 1.2 | 1.23 |
Optimistic scenario [member] | Canada [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 2.90% | 2.50% | 2.80% |
Unemployment rate, average % | 4.50% | 4.00% | 4.10% |
Bank of Canada overnight rate target, average % | 3.40% | 3.70% | 3.60% |
HPI - Housing Price Index, y/y % change | 0.90% | 3.10% | 3.90% |
USD/CAD exchange rate, average | 1.22 | 1.19 | 1.2 |
Optimistic scenario [member] | United States [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 5.30% | 5.40% | 7.30% |
Unemployment rate, average % | 3.50% | 3.90% | 3.40% |
Optimistic scenario [member] | United States [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 2.60% | 2.60% | 2.10% |
Unemployment rate, average % | 3.80% | 3.80% | 3.20% |
Optimistic scenario [member] | Mexico [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 2.90% | 4.40% | 4.30% |
Unemployment rate, average % | 3.60% | 3.40% | 3.60% |
Optimistic scenario [member] | Mexico [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 2.50% | 2.00% | 2.70% |
Unemployment rate, average % | 3.00% | 3.20% | 3.10% |
Optimistic scenario [member] | Chile [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 3.60% | 6.80% | 8.80% |
Unemployment rate, average % | 5.70% | 6.00% | 5.90% |
Optimistic scenario [member] | Chile [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 3.50% | 4.00% | 3.10% |
Unemployment rate, average % | 5.20% | 5.50% | 5.60% |
Optimistic scenario [member] | Peru [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 4.50% | 4.50% | 7.70% |
Unemployment rate, average % | 6.90% | 5.80% | 6.00% |
Optimistic scenario [member] | Peru [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 4.70% | 3.80% | 4.30% |
Unemployment rate, average % | 4.20% | 5.10% | 3.40% |
Optimistic scenario [member] | Colombia [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 5.80% | 6.50% | 6.80% |
Unemployment rate, average % | 10.10% | 10.00% | 12.00% |
Optimistic scenario [member] | Colombia [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 5.10% | 4.80% | 4.80% |
Unemployment rate, average % | 7.90% | 7.70% | 8.20% |
Optimistic scenario [member] | Caribbean [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 5.70% | 6.40% | 6.20% |
Optimistic scenario [member] | Caribbean [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 4.80% | 4.10% | 4.90% |
Optimistic scenario [member] | Global WTI oil price [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Average price of hedging instrument | $ / bbl | 102 | 75 | 75 |
Optimistic scenario [member] | Global WTI oil price [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Average price of hedging instrument | $ / bbl | 95 | 87 | 86 |
Optimistic scenario [member] | Global Copper price [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Average price of hedging instrument | $ / lb | 4.33 | 4.46 | 4.36 |
Optimistic scenario [member] | Global Copper price [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Average price of hedging instrument | $ / lb | 4.75 | 4.72 | 4.78 |
Optimistic scenario [member] | Global GDP and PPP [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Global GDP, PPP-weighted, y/y % change | 5.27% | 5.66% | 6.54% |
Optimistic scenario [member] | Global GDP and PPP [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Global GDP, PPP-weighted, y/y % change | 3.61% | 4.47% | 3.90% |
Pessimistic scenario [member] | Canada [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | (0.80%) | 0.00% | (1.30%) |
Unemployment rate, average % | 9.10% | 7.70% | 8.80% |
Bank of Canada overnight rate target, average % | 3.50% | 0.30% | 0.30% |
HPI - Housing Price Index, y/y % change | 11.40% | 3.00% | 3.90% |
USD/CAD exchange rate, average | 1.21 | 1.25 | 1.28 |
Pessimistic scenario [member] | Canada [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 3.80% | 2.70% | 3.10% |
Unemployment rate, average % | 6.90% | 6.10% | 6.30% |
Bank of Canada overnight rate target, average % | 3.00% | 1.90% | 1.20% |
HPI - Housing Price Index, y/y % change | 0.50% | 3.10% | 3.30% |
USD/CAD exchange rate, average | 1.22 | 1.2 | 1.21 |
Pessimistic scenario [member] | United States [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | (1.90%) | 1.20% | 2.40% |
Unemployment rate, average % | 7.40% | 5.80% | 5.60% |
Pessimistic scenario [member] | United States [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 3.60% | 2.70% | 2.40% |
Unemployment rate, average % | 4.80% | 4.80% | 4.10% |
Pessimistic scenario [member] | Mexico [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | (3.70%) | 0.00% | (0.40%) |
Unemployment rate, average % | 7.40% | 6.50% | 6.50% |
Pessimistic scenario [member] | Mexico [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 3.20% | 2.50% | 2.70% |
Unemployment rate, average % | 4.90% | 4.30% | 4.50% |
Pessimistic scenario [member] | Chile [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | (3.20%) | 2.00% | 3.40% |
Unemployment rate, average % | 9.90% | 9.10% | 9.00% |
Pessimistic scenario [member] | Chile [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 3.60% | 3.40% | 3.10% |
Unemployment rate, average % | 6.40% | 6.90% | 6.70% |
Pessimistic scenario [member] | Peru [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | (1.20%) | (0.60%) | 3.60% |
Unemployment rate, average % | 10.50% | 11.20% | 10.80% |
Pessimistic scenario [member] | Peru [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 4.10% | 3.80% | 3.70% |
Unemployment rate, average % | 8.00% | 8.00% | 8.10% |
Pessimistic scenario [member] | Colombia [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 0.50% | 1.20% | 3.60% |
Unemployment rate, average % | 13.30% | 13.30% | 15.60% |
Pessimistic scenario [member] | Colombia [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 4.70% | 4.40% | 4.00% |
Unemployment rate, average % | 11.20% | 10.90% | 11.80% |
Pessimistic scenario [member] | Caribbean [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 0.80% | 2.00% | 3.90% |
Pessimistic scenario [member] | Caribbean [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 5.20% | 4.60% | 4.60% |
Pessimistic scenario [member] | Global WTI oil price [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Average price of hedging instrument | $ / bbl | 129 | 59 | 61 |
Pessimistic scenario [member] | Global WTI oil price [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Average price of hedging instrument | $ / bbl | 81 | 66 | 67 |
Pessimistic scenario [member] | Global Copper price [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Average price of hedging instrument | $ / lb | 4.63 | 3.95 | 3.93 |
Pessimistic scenario [member] | Global Copper price [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Average price of hedging instrument | $ / lb | 4.23 | 3.89 | 4.05 |
Pessimistic scenario [member] | Global GDP and PPP [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Global GDP, PPP-weighted, y/y % change | (1.35%) | 1.96% | 2.44% |
Pessimistic scenario [member] | Global GDP and PPP [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Global GDP, PPP-weighted, y/y % change | 4.27% | 4.17% | 3.68% |
Severe Pessimistic [Member] | Canada [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | (2.20%) | (4.60%) | (7.40%) |
Unemployment rate, average % | 9.60% | 10.60% | 11.70% |
Bank of Canada overnight rate target, average % | 3.50% | 0.30% | 0.30% |
HPI - Housing Price Index, y/y % change | 9.80% | (3.50%) | (2.70%) |
USD/CAD exchange rate, average | 1.21 | 1.27 | 1.3 |
Severe Pessimistic [Member] | Canada [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 2.70% | 3.50% | 4.30% |
Unemployment rate, average % | 8.50% | 8.00% | 8.20% |
Bank of Canada overnight rate target, average % | 3.40% | 1.20% | 0.50% |
HPI - Housing Price Index, y/y % change | (0.50%) | 3.70% | 3.90% |
USD/CAD exchange rate, average | 1.22 | 1.23 | 1.24 |
Severe Pessimistic [Member] | United States [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | (3.50%) | (2.20%) | (1.40%) |
Unemployment rate, average % | 7.80% | 7.10% | 6.80% |
Severe Pessimistic [Member] | United States [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 2.90% | 3.60% | 3.50% |
Unemployment rate, average % | 6.20% | 6.20% | 5.60% |
Severe Pessimistic [Member] | Mexico [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | (4.70%) | (2.60%) | (4.20%) |
Unemployment rate, average % | 7.70% | 9.40% | 9.40% |
Severe Pessimistic [Member] | Mexico [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 1.80% | 2.80% | 3.80% |
Unemployment rate, average % | 6.50% | 6.20% | 6.40% |
Severe Pessimistic [Member] | Chile [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | (4.10%) | (2.40%) | (0.50%) |
Unemployment rate, average % | 10.70% | 12.00% | 12.00% |
Severe Pessimistic [Member] | Chile [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 2.90% | 4.20% | 4.20% |
Unemployment rate, average % | 7.00% | 8.80% | 8.60% |
Severe Pessimistic [Member] | Peru [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | (2.70%) | (4.50%) | 0.00% |
Unemployment rate, average % | 11.70% | 14.10% | 13.80% |
Severe Pessimistic [Member] | Peru [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 1.10% | 4.90% | 4.70% |
Unemployment rate, average % | 12.00% | 9.90% | 10.00% |
Severe Pessimistic [Member] | Colombia [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | (0.20%) | (2.60%) | 0.00% |
Unemployment rate, average % | 13.60% | 16.20% | 18.60% |
Severe Pessimistic [Member] | Colombia [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 2.90% | 5.40% | 5.00% |
Unemployment rate, average % | 13.60% | 12.80% | 13.70% |
Severe Pessimistic [Member] | Caribbean [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | (0.60%) | (0.60%) | 0.30% |
Severe Pessimistic [Member] | Caribbean [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Real GDP growth, y/y % change | 3.90% | 4.90% | 5.60% |
Severe Pessimistic [Member] | Global WTI oil price [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Average price of hedging instrument | $ / bbl | 140 | 56 | 57 |
Severe Pessimistic [Member] | Global WTI oil price [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Average price of hedging instrument | $ / bbl | 117 | 59 | 57 |
Severe Pessimistic [Member] | Global Copper price [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Average price of hedging instrument | $ / lb | 4.77 | 3.82 | 3.81 |
Severe Pessimistic [Member] | Global Copper price [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Average price of hedging instrument | $ / lb | 4.57 | 3.56 | 3.62 |
Severe Pessimistic [Member] | Global GDP and PPP [member] | Next 12 Months [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Global GDP, PPP-weighted, y/y % change | (2.78%) | (0.55%) | (0.69%) |
Severe Pessimistic [Member] | Global GDP and PPP [member] | Remaining forecast period [member] | |||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [Line Items] | |||
Global GDP, PPP-weighted, y/y % change | 3.76% | 4.85% | 4.48% |
Loans, Impaired Loans and All_7
Loans, Impaired Loans and Allowance for Credit Losses - Allowance For Credit Losses (Detail) - CAD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||||
Apr. 30, 2022 | Apr. 30, 2021 | Apr. 30, 2022 | Apr. 30, 2021 | |||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | $ 4,249 | $ 5,728 | $ 7,817 | |||||
Provision for credit losses | 441 | 1,260 | ||||||
Net write-offs | (879) | (1,815) | ||||||
Other, including foreign currency adjustment | 80 | (373) | ||||||
Provision for credit losses | ||||||||
Balance at end of period | 5,370 | $ 6,889 | 5,370 | 6,889 | ||||
Allowance for credit losses [member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | 5,626 | 7,639 | ||||||
Provision for credit losses | ||||||||
Balance at end of period | 5,294 | 6,716 | [1] | 5,294 | 6,716 | [1] | ||
Allowance for credit losses on acceptances [member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | [2] | 37 | 77 | |||||
Provision for credit losses | ||||||||
Balance at end of period | [2] | 27 | 73 | 27 | 73 | |||
Allowance for credit losses on off balance sheet exposures [member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | [3] | 65 | 101 | |||||
Provision for credit losses | ||||||||
Balance at end of period | [3] | 49 | 100 | 49 | 100 | |||
Allowance for credit losses on loans [member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | [4] | 5,626 | ||||||
Residential mortgages [member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | 835 | 864 | 802 | 884 | ||||
Provision for credit losses | 32 | 51 | ||||||
Net write-offs | (23) | (49) | ||||||
Other, including foreign currency adjustment | 23 | (45) | ||||||
Provision for credit losses | ||||||||
Remeasurement | 1 | 25 | 22 | [5] | 48 | [5] | ||
Newly originated or purchased financial assets | 10 | 10 | 20 | 21 | ||||
Derecognition of financial assets and maturities | (5) | (9) | (10) | (18) | ||||
Gross write-offs | (16) | (22) | (37) | (59) | ||||
Recoveries | 7 | 6 | 14 | 10 | ||||
Foreign exchange and other movements | 2 | (33) | 23 | (45) | ||||
Balance at end of period | [6] | 834 | 841 | 834 | 841 | |||
Residential mortgages [member] | Allowance for credit losses [member] | ||||||||
Provision for credit losses | ||||||||
Balance at end of period | 834 | 841 | 834 | 841 | ||||
Residential mortgages [member] | Allowance for credit losses on loans [member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | 802 | |||||||
Loans to consumers [member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | 2,249 | 3,150 | 2,341 | 3,155 | ||||
Provision for credit losses | 235 | 611 | ||||||
Net write-offs | (451) | (826) | ||||||
Other, including foreign currency adjustment | 46 | (134) | ||||||
Provision for credit losses | ||||||||
Remeasurement | 93 | 239 | 176 | [5] | 605 | [5] | ||
Newly originated or purchased financial assets | 75 | 154 | 150 | 253 | ||||
Derecognition of financial assets and maturities | (44) | (149) | (91) | (247) | ||||
Gross write-offs | (275) | (547) | (582) | (953) | ||||
Recoveries | 64 | 64 | 131 | 127 | ||||
Foreign exchange and other movements | 9 | (105) | 46 | (134) | ||||
Balance at end of period | [6] | 2,171 | 2,806 | 2,171 | 2,806 | |||
Loans to consumers [member] | Allowance for credit losses [member] | ||||||||
Provision for credit losses | ||||||||
Balance at end of period | 2,171 | 2,806 | 2,171 | 2,806 | ||||
Loans to consumers [member] | Allowance for credit losses on loans [member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | 2,341 | |||||||
Credit Card [member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | 1,165 | 1,915 | 1,211 | 1,886 | ||||
Provision for credit losses | 159 | 504 | ||||||
Net write-offs | (277) | (761) | ||||||
Other, including foreign currency adjustment | 14 | (84) | ||||||
Provision for credit losses | ||||||||
Remeasurement | 72 | 265 | 134 | [5] | 541 | [5] | ||
Newly originated or purchased financial assets | 32 | 19 | 60 | 48 | ||||
Derecognition of financial assets and maturities | (18) | (41) | (35) | (85) | ||||
Gross write-offs | (186) | (587) | (378) | (847) | ||||
Recoveries | 48 | 42 | 101 | 86 | ||||
Foreign exchange and other movements | (6) | (68) | 14 | (84) | ||||
Balance at end of period | [6] | 1,107 | 1,545 | 1,107 | 1,545 | |||
Credit Card [member] | Allowance for credit losses [member] | ||||||||
Provision for credit losses | ||||||||
Balance at end of period | 1,107 | 1,545 | 1,107 | 1,545 | ||||
Credit Card [member] | Allowance for credit losses on loans [member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | 1,211 | |||||||
Total Retail Loans [Member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | 5,929 | 4,354 | 5,925 | |||||
Provision for credit losses | ||||||||
Remeasurement | 166 | 529 | 332 | [5] | 1,194 | [5] | ||
Newly originated or purchased financial assets | 117 | 183 | 230 | 322 | ||||
Derecognition of financial assets and maturities | (67) | (199) | (136) | (350) | ||||
Gross write-offs | (477) | (1,156) | (997) | (1,859) | ||||
Recoveries | 119 | 112 | 246 | 223 | ||||
Foreign exchange and other movements | 5 | (206) | 83 | (263) | ||||
Balance at end of period | [6] | 4,112 | 5,192 | 4,112 | 5,192 | |||
Business and government [member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | 1,374 | 1,892 | ||||||
Provision for credit losses | 15 | 94 | ||||||
Net write-offs | (128) | (179) | ||||||
Other, including foreign currency adjustment | (3) | (110) | ||||||
Provision for credit losses | ||||||||
Remeasurement | 40 | 24 | 72 | [5] | 141 | [5] | ||
Newly originated or purchased financial assets | 65 | 79 | 121 | 168 | ||||
Derecognition of financial assets and maturities | (98) | (98) | (170) | (196) | ||||
Changes in models and methodologies | 1 | (15) | 1 | (15) | ||||
Gross write-offs | (73) | (105) | (146) | (192) | ||||
Recoveries | 9 | 8 | 18 | 13 | ||||
Foreign exchange and other movements | (11) | (67) | (2) | (110) | ||||
Balance at end of period including off-balance sheet exposures | 1,231 | 1,624 | 1,231 | 1,624 | ||||
Less: Allowance for credits losses on off-balance sheet exposures | [3] | (49) | (100) | (49) | (100) | |||
Balance at end of period | 1,258 | 1,697 | 1,258 | 1,697 | ||||
Business and government [member] | Gross carrying amount [member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | 1,298 | 1,798 | 1,337 | 1,815 | ||||
Business and government [member] | Net Amount [member] | ||||||||
Provision for credit losses | ||||||||
Balance at end of period | [6] | 1,182 | 1,524 | 1,182 | 1,524 | |||
Business and government [member] | Allowance for credit losses [member] | ||||||||
Provision for credit losses | ||||||||
Balance at end of period | 1,182 | 1,524 | 1,182 | 1,524 | ||||
Business and government [member] | Allowance for credit losses on loans [member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | 1,272 | |||||||
Total Non Retail Loans [Member] | ||||||||
Provision for credit losses | ||||||||
Balance at end of period | 4,112 | 4,112 | ||||||
Stage 1 [member] | Allowance for credit losses [member] | ||||||||
Provision for credit losses | ||||||||
Balance at end of period | 1,444 | 1,472 | [1] | 1,444 | 1,472 | [1] | ||
Stage 1 [member] | Allowance for credit losses on loans [member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | [4] | 1,334 | ||||||
Stage 1 [member] | Residential mortgages [member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | 161 | 161 | 152 | 190 | ||||
Provision for credit losses | ||||||||
Remeasurement | (15) | (30) | (34) | [5] | (95) | [5] | ||
Newly originated or purchased financial assets | 10 | 10 | 20 | 21 | ||||
Derecognition of financial assets and maturities | (1) | (2) | (3) | (5) | ||||
Transfer to (from)stage 1 | 14 | 19 | 33 | 51 | ||||
Transfer to (from)stage 2 | (2) | (3) | (4) | (6) | ||||
Foreign exchange and other movements | 1 | (4) | 4 | (5) | ||||
Balance at end of period | [6] | 168 | 151 | 168 | 151 | |||
Stage 1 [member] | Residential mortgages [member] | Allowance for credit losses [member] | ||||||||
Provision for credit losses | ||||||||
Balance at end of period | 168 | 151 | 168 | 151 | ||||
Stage 1 [member] | Residential mortgages [member] | Allowance for credit losses on loans [member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | 152 | |||||||
Stage 1 [member] | Loans to consumers [member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | 655 | 787 | 644 | 864 | ||||
Provision for credit losses | ||||||||
Remeasurement | (162) | (264) | (318) | [5] | (686) | [5] | ||
Newly originated or purchased financial assets | 75 | 154 | 150 | 253 | ||||
Derecognition of financial assets and maturities | (17) | (67) | (35) | (95) | ||||
Transfer to (from)stage 1 | 127 | 204 | 257 | 605 | ||||
Transfer to (from)stage 2 | (26) | (85) | (56) | (177) | ||||
Transfer to (from)stage 3 | (1) | (8) | (2) | (39) | ||||
Foreign exchange and other movements | 4 | (22) | 15 | (26) | ||||
Balance at end of period | [6] | 655 | 699 | 655 | 699 | |||
Stage 1 [member] | Loans to consumers [member] | Allowance for credit losses [member] | ||||||||
Provision for credit losses | ||||||||
Balance at end of period | 655 | 699 | 655 | 699 | ||||
Stage 1 [member] | Loans to consumers [member] | Allowance for credit losses on loans [member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | 644 | |||||||
Stage 1 [member] | Credit Card [member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | 399 | 448 | 352 | 501 | ||||
Provision for credit losses | ||||||||
Remeasurement | (37) | (177) | (89) | [5] | (310) | [5] | ||
Newly originated or purchased financial assets | 32 | 19 | 60 | 48 | ||||
Derecognition of financial assets and maturities | (10) | (17) | (20) | (32) | ||||
Transfer to (from)stage 1 | 52 | 91 | 139 | 204 | ||||
Transfer to (from)stage 2 | (13) | (32) | (26) | (75) | ||||
Foreign exchange and other movements | (4) | (13) | 3 | (17) | ||||
Balance at end of period | [6] | 419 | 319 | 419 | 319 | |||
Stage 1 [member] | Credit Card [member] | Allowance for credit losses [member] | ||||||||
Provision for credit losses | ||||||||
Balance at end of period | 419 | 319 | 419 | 319 | ||||
Stage 1 [member] | Credit Card [member] | Allowance for credit losses on loans [member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | 352 | |||||||
Stage 1 [member] | Total Retail Loans [Member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | 1,215 | 1,396 | 1,148 | 1,555 | ||||
Provision for credit losses | ||||||||
Remeasurement | (214) | (471) | (441) | [5] | (1,091) | [5] | ||
Newly originated or purchased financial assets | 117 | 183 | 230 | 322 | ||||
Derecognition of financial assets and maturities | (28) | (86) | (58) | (132) | ||||
Transfer to (from)stage 1 | 193 | 314 | 429 | 860 | ||||
Transfer to (from)stage 2 | (41) | (120) | (86) | (258) | ||||
Transfer to (from)stage 3 | (1) | (8) | (2) | (39) | ||||
Foreign exchange and other movements | 1 | (39) | 22 | (48) | ||||
Balance at end of period | [6] | 1,242 | 1,169 | 1,242 | 1,169 | |||
Stage 1 [member] | Business and government [member] | ||||||||
Provision for credit losses | ||||||||
Remeasurement | (23) | (79) | (89) | [5] | ||||
Newly originated or purchased financial assets | 65 | 79 | 121 | 168 | ||||
Derecognition of financial assets and maturities | (55) | (85) | (96) | (168) | ||||
Changes in models and methodologies | (1) | (4) | (1) | (4) | ||||
Transfer to (from)stage 1 | 19 | 10 | 61 | 28 | ||||
Transfer to (from)stage 2 | (4) | (18) | (12) | (42) | ||||
Foreign exchange and other movements | (9) | 2 | (18) | |||||
Balance at end of period including off-balance sheet exposures | 234 | 353 | 234 | 353 | ||||
Less: Allowance for credits losses on off-balance sheet exposures | [3] | (32) | (50) | (32) | (50) | |||
Balance at end of period | [6] | 202 | 303 | 202 | 303 | |||
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 | 233 | 459 | 212 | 478 | ||||
Stage 1 [member] | Business and government [member] | Net Amount [member] | ||||||||
Provision for credit losses | ||||||||
Balance at end of period | 202 | 303 | 202 | 303 | ||||
Stage 1 [member] | Business and government [member] | Allowance for credit losses [member] | ||||||||
Provision for credit losses | ||||||||
Balance at end of period | 202 | 303 | 202 | 303 | ||||
Stage 1 [member] | Business and government [member] | Allowance for credit losses on loans [member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | 186 | |||||||
Stage 1 [member] | Total Non Retail Loans [Member] | ||||||||
Provision for credit losses | ||||||||
Remeasurement | [5] | (53) | ||||||
Stage 2 [member] | Allowance for credit losses [member] | ||||||||
Provision for credit losses | ||||||||
Balance at end of period | 2,246 | 3,306 | [1] | 2,246 | 3,306 | [1] | ||
Stage 2 [member] | Allowance for credit losses on loans [member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | [4] | 2,637 | ||||||
Stage 2 [member] | Residential mortgages [member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | 279 | 297 | 276 | 302 | ||||
Provision for credit losses | ||||||||
Remeasurement | 7 | 7 | 18 | [5] | 36 | [5] | ||
Derecognition of financial assets and maturities | (4) | (7) | (7) | (13) | ||||
Transfer to (from)stage 1 | (12) | (15) | (29) | (42) | ||||
Transfer to (from)stage 2 | 9 | 17 | 16 | 37 | ||||
Transfer to (from)stage 3 | (3) | (11) | (6) | (23) | ||||
Foreign exchange and other movements | (3) | (8) | 5 | (17) | ||||
Balance at end of period | [6] | 273 | 280 | 273 | 280 | |||
Stage 2 [member] | Residential mortgages [member] | Allowance for credit losses [member] | ||||||||
Provision for credit losses | ||||||||
Balance at end of period | 273 | 280 | 273 | 280 | ||||
Stage 2 [member] | Residential mortgages [member] | Allowance for credit losses on loans [member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | 276 | |||||||
Stage 2 [member] | Loans to consumers [member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | 1,020 | 1,514 | 1,071 | 1,471 | ||||
Provision for credit losses | ||||||||
Remeasurement | 94 | 176 | 189 | [5] | 712 | [5] | ||
Derecognition of financial assets and maturities | (27) | (82) | (56) | (152) | ||||
Transfer to (from)stage 1 | (125) | (200) | (252) | (598) | ||||
Transfer to (from)stage 2 | 39 | 104 | 83 | 215 | ||||
Transfer to (from)stage 3 | (49) | (184) | (99) | (310) | ||||
Foreign exchange and other movements | (2) | (42) | 14 | (52) | ||||
Balance at end of period | [6] | 950 | 1,286 | 950 | 1,286 | |||
Stage 2 [member] | Loans to consumers [member] | Allowance for credit losses [member] | ||||||||
Provision for credit losses | ||||||||
Balance at end of period | 950 | 1,286 | 950 | 1,286 | ||||
Stage 2 [member] | Loans to consumers [member] | Allowance for credit losses on loans [member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | 1,071 | |||||||
Stage 2 [member] | Credit Card [member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | 766 | 1,467 | 859 | 1,385 | ||||
Provision for credit losses | ||||||||
Remeasurement | 3 | 119 | 8 | [5] | 377 | [5] | ||
Derecognition of financial assets and maturities | (8) | (24) | (15) | (53) | ||||
Transfer to (from)stage 1 | (52) | (91) | (139) | (204) | ||||
Transfer to (from)stage 2 | 13 | 32 | 26 | 75 | ||||
Transfer to (from)stage 3 | (33) | (228) | (61) | (298) | ||||
Foreign exchange and other movements | (1) | (49) | 10 | (56) | ||||
Balance at end of period | [6] | 688 | 1,226 | 688 | 1,226 | |||
Stage 2 [member] | Credit Card [member] | Allowance for credit losses [member] | ||||||||
Provision for credit losses | ||||||||
Balance at end of period | 688 | 1,226 | 688 | 1,226 | ||||
Stage 2 [member] | Credit Card [member] | Allowance for credit losses on loans [member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | 859 | |||||||
Stage 2 [member] | Total Retail Loans [Member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | 2,065 | 3,278 | 2,206 | 3,158 | ||||
Provision for credit losses | ||||||||
Remeasurement | 104 | 302 | 215 | [5] | 1,125 | [5] | ||
Derecognition of financial assets and maturities | (39) | (113) | (78) | (218) | ||||
Transfer to (from)stage 1 | (189) | (306) | (420) | (844) | ||||
Transfer to (from)stage 2 | 61 | 153 | 125 | 327 | ||||
Transfer to (from)stage 3 | (85) | (423) | (166) | (631) | ||||
Foreign exchange and other movements | (6) | (99) | 29 | (125) | ||||
Balance at end of period | [6] | 1,911 | 2,792 | 1,911 | 2,792 | |||
Stage 2 [member] | Business and government [member] | ||||||||
Provision for credit losses | ||||||||
Remeasurement | (9) | (23) | [5] | 21 | [5] | |||
Derecognition of financial assets and maturities | (36) | (12) | (56) | (25) | ||||
Changes in models and methodologies | 2 | (11) | 2 | (11) | ||||
Transfer to (from)stage 1 | (19) | (10) | (61) | (28) | ||||
Transfer to (from)stage 2 | 4 | 19 | 12 | 43 | ||||
Transfer to (from)stage 3 | (3) | (3) | (3) | (4) | ||||
Foreign exchange and other movements | 2 | (19) | 11 | (24) | ||||
Balance at end of period including off-balance sheet exposures | 352 | 564 | 352 | 564 | ||||
Less: Allowance for credits losses on off-balance sheet exposures | [3] | (17) | (50) | (17) | (50) | |||
Balance at end of period | [6] | 335 | 514 | 335 | 514 | |||
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 | 411 | 600 | 470 | 592 | ||||
Stage 2 [member] | Business and government [member] | Net Amount [member] | ||||||||
Provision for credit losses | ||||||||
Balance at end of period | 335 | 514 | 335 | 514 | ||||
Stage 2 [member] | Business and government [member] | Allowance for credit losses [member] | ||||||||
Provision for credit losses | ||||||||
Balance at end of period | 335 | 514 | 335 | 514 | ||||
Stage 2 [member] | Business and government [member] | Allowance for credit losses on loans [member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | 431 | |||||||
Stage 3 [member] | Allowance for credit losses [member] | ||||||||
Provision for credit losses | ||||||||
Balance at end of period | 1,604 | 1,938 | [1] | 1,604 | 1,938 | [1] | ||
Stage 3 [member] | Allowance for credit losses on loans [member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | [4] | 1,655 | ||||||
Stage 3 [member] | Residential mortgages [member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | 395 | 406 | 374 | 392 | ||||
Provision for credit losses | ||||||||
Remeasurement | 9 | 48 | 38 | [5] | 107 | [5] | ||
Transfer to (from)stage 1 | (2) | (4) | (4) | (9) | ||||
Transfer to (from)stage 2 | (7) | (14) | (12) | (31) | ||||
Transfer to (from)stage 3 | 3 | 11 | 6 | 23 | ||||
Gross write-offs | (16) | (22) | (37) | (59) | ||||
Recoveries | 7 | 6 | 14 | 10 | ||||
Foreign exchange and other movements | 4 | (21) | 14 | (23) | ||||
Balance at end of period | [6] | 393 | 410 | 393 | 410 | |||
Stage 3 [member] | Residential mortgages [member] | Allowance for credit losses [member] | ||||||||
Provision for credit losses | ||||||||
Balance at end of period | 393 | 410 | 393 | 410 | ||||
Stage 3 [member] | Residential mortgages [member] | Allowance for credit losses on loans [member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | 374 | |||||||
Stage 3 [member] | Loans to consumers [member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | 574 | 849 | 626 | 820 | ||||
Provision for credit losses | ||||||||
Remeasurement | 161 | 327 | 305 | [5] | 579 | [5] | ||
Transfer to (from)stage 1 | (2) | (4) | (5) | (7) | ||||
Transfer to (from)stage 2 | (13) | (19) | (27) | (38) | ||||
Transfer to (from)stage 3 | 50 | 192 | 101 | 349 | ||||
Gross write-offs | (275) | (547) | (582) | (953) | ||||
Recoveries | 64 | 64 | 131 | 127 | ||||
Foreign exchange and other movements | 7 | (41) | 17 | (56) | ||||
Balance at end of period | [6] | 566 | 821 | 566 | 821 | |||
Stage 3 [member] | Loans to consumers [member] | Allowance for credit losses [member] | ||||||||
Provision for credit losses | ||||||||
Balance at end of period | 566 | 821 | 566 | 821 | ||||
Stage 3 [member] | Loans to consumers [member] | Allowance for credit losses on loans [member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | 626 | |||||||
Stage 3 [member] | Credit Card [member] | ||||||||
Provision for credit losses | ||||||||
Remeasurement | 106 | 323 | 215 | [5] | 474 | [5] | ||
Transfer to (from)stage 3 | 33 | 228 | 61 | 298 | ||||
Gross write-offs | (186) | (587) | (378) | (847) | ||||
Recoveries | 48 | 42 | 101 | 86 | ||||
Foreign exchange and other movements | (1) | (6) | 1 | (11) | ||||
Stage 3 [member] | Credit Card [member] | Allowance for credit losses [member] | ||||||||
Provision for credit losses | ||||||||
Balance at end of period | 0 | 0 | ||||||
Stage 3 [member] | Total Retail Loans [Member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | 969 | 1,255 | 1,000 | 1,212 | ||||
Provision for credit losses | ||||||||
Remeasurement | 276 | 698 | 558 | [5] | 1,160 | [5] | ||
Transfer to (from)stage 1 | (4) | (8) | (9) | (16) | ||||
Transfer to (from)stage 2 | (20) | (33) | (39) | (69) | ||||
Transfer to (from)stage 3 | 86 | 431 | 168 | 670 | ||||
Gross write-offs | (477) | (1,156) | (997) | (1,859) | ||||
Recoveries | 119 | 112 | 246 | 223 | ||||
Foreign exchange and other movements | 10 | (68) | 32 | (90) | ||||
Balance at end of period | [6] | 959 | 1,231 | 959 | 1,231 | |||
Stage 3 [member] | Business and government [member] | ||||||||
Provision for credit losses | ||||||||
Remeasurement | 72 | 103 | 148 | [5] | 209 | [5] | ||
Derecognition of financial assets and maturities | (7) | (1) | (18) | (3) | ||||
Transfer to (from)stage 2 | (1) | (1) | ||||||
Transfer to (from)stage 3 | 3 | 3 | 3 | 4 | ||||
Gross write-offs | (73) | (105) | (146) | (192) | ||||
Recoveries | 9 | 8 | 18 | 13 | ||||
Foreign exchange and other movements | (13) | (39) | (15) | (68) | ||||
Balance at end of period including off-balance sheet exposures | 645 | 707 | 645 | 707 | ||||
Balance at end of period | [6] | 645 | 707 | 645 | 707 | |||
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 | 654 | 739 | 655 | 745 | ||||
Stage 3 [member] | Business and government [member] | Net Amount [member] | ||||||||
Provision for credit losses | ||||||||
Balance at end of period | 645 | 707 | 645 | 707 | ||||
Stage 3 [member] | Business and government [member] | Allowance for credit losses [member] | ||||||||
Provision for credit losses | ||||||||
Balance at end of period | $ 645 | $ 707 | 645 | $ 707 | ||||
Stage 3 [member] | Business and government [member] | Allowance for credit losses on loans [member] | ||||||||
Disclosure of detailed information about financial instruments [line items] | ||||||||
Balance at beginning of period | $ 655 | |||||||
[1] | Excludes allowance for credit losses of $177 for other financial assets including acceptances, investment securities, deposits with banks and off-balance sheet credit risks. | |||||||
[2] | Allowance for credit losses on acceptances are recorded against the financial asset in the Consolidated Statement of Financial Position. | |||||||
[3] | Allowance for credit losses on off-balance sheet exposures is recorded in other liabilities in the Consolidated Statement of Financial Position. | |||||||
[4] | Excludes allowance for credit losses of $105 for other financial assets including acceptances, investment securities, deposits with banks and off-balance sheet credit risks. | |||||||
[5] | 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. | |||||||
[6] | Interest income on impaired loans for residential mortgages, personal and credit cards, and business and government loans totaled $63 (January 31, 2022 – $61). |
Loans, Impaired Loans and All_8
Loans, Impaired Loans and Allowance for Credit Losses - Allowance For Credit Losses (Parenthetical) (Detail) - CAD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||||
Apr. 30, 2022 | Jan. 31, 2022 | Apr. 30, 2021 | Apr. 30, 2022 | Apr. 30, 2021 | Oct. 31, 2021 | ||
Disclosure of detailed information about financial instruments [line items] | |||||||
Allowance for credit losses for other financial assets | $ 81 | $ 177 | $ 81 | $ 177 | $ 105 | ||
Interest income on impaired loans | [1] | 6,418 | $ 5,994 | 5,712 | $ 12,412 | 11,760 | |
Gross impaired loans [member] | |||||||
Disclosure of detailed information about financial instruments [line items] | |||||||
Interest income on impaired loans | $ 63 | $ 124 | $ 73 | $ 151 | |||
[1] | Includes interest income on financial assets measured at amortized cost and FVOCI, calculated using the effective interest method, of $6,915 for the three months ended April 30, 2022 (January 31, 2022 – $6,331; April 30, 2021 – $6,078) and for the six months ended April 30, 2022 – $13,246 (April 30, 2021 – $12,478). |
Loans, Impaired Loans and All_9
Loans, Impaired Loans and Allowance for Credit Losses -Summary of Carrying Value of Exposures by Risk Rating (Detail) - CAD ($) $ in Millions | Apr. 30, 2022 | Jan. 31, 2022 | Oct. 31, 2021 | |
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | $ 694,996 | $ 672,830 | $ 642,612 | |
Allowance for credit losses | 5,294 | 5,492 | 5,626 | |
Carrying value of loans net of ACL | 689,702 | $ 667,338 | 636,986 | |
Residential mortgages [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 337,714 | 319,678 | ||
Allowance for credit losses | 834 | 802 | ||
Carrying value of loans net of ACL | 336,880 | 318,876 | ||
Residential mortgages [member] | Very low probability of default [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 200,998 | 192,773 | ||
Residential mortgages [member] | Low probability of default [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 79,843 | 71,074 | ||
Residential mortgages [member] | Medium probability of default [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 18,181 | 12,860 | ||
Residential mortgages [member] | High probability of default [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 3,658 | 3,188 | ||
Residential mortgages [member] | Very High probability of default [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 1,254 | 659 | ||
Residential mortgages [member] | Loans not graded [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | [1] | 32,507 | 37,793 | |
Residential mortgages [member] | Default [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 1,273 | 1,331 | ||
Loans to consumers [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 94,437 | 91,540 | ||
Allowance for credit losses | 2,171 | 2,341 | ||
Carrying value of loans net of ACL | 92,266 | 89,199 | ||
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 | 30,005 | 30,253 | ||
Loans to consumers [member] | Low probability of default [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 27,131 | 26,293 | ||
Loans to consumers [member] | Medium probability of default [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 9,435 | 9,417 | ||
Loans to consumers [member] | High probability of default [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 8,741 | 7,993 | ||
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 | 1,585 | 1,239 | ||
Loans to consumers [member] | Loans not graded [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | [1] | 16,773 | 15,512 | |
Loans to consumers [member] | Default [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 767 | 833 | ||
Undrawn loan commitments retail [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of undrawn loan commitments net of ACL | 136,287 | 128,522 | ||
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 | 93,802 | 88,322 | ||
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 | 20,259 | 17,892 | ||
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 | 7,767 | 6,894 | ||
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 | 4,101 | 3,848 | ||
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 | 362 | 236 | ||
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 | [1] | 9,996 | 11,330 | |
Total Retail Loans [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 582,060 | 552,190 | ||
Allowance for credit losses | 4,112 | 4,354 | ||
Carrying value of loans net of ACL | 577,948 | 547,836 | ||
Total Retail Loans [Member] | Very low probability of default [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 326,416 | 312,941 | ||
Total Retail Loans [Member] | Low probability of default [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 130,013 | 117,682 | ||
Total Retail Loans [Member] | Medium probability of default [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 38,807 | 32,003 | ||
Total Retail Loans [Member] | High probability of default [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 20,390 | 18,491 | ||
Total Retail Loans [Member] | Very High probability of default [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 3,767 | 2,664 | ||
Total Retail Loans [Member] | Loans not graded [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | [1] | 60,627 | 66,245 | |
Total Retail Loans [Member] | Default [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 2,040 | 2,164 | ||
Business and government [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 249,223 | 218,944 | ||
Allowance for credit losses | 1,182 | 1,272 | ||
Carrying value of loans net of ACL | 248,041 | 217,672 | ||
Business and government [member] | Loans not graded [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | [1] | 2,254 | 2,162 | |
Business and government [member] | Default [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 2,224 | 2,292 | ||
Business and government [member] | Investment grade [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 134,471 | 111,678 | ||
Business and government [member] | Non investment grade [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 107,508 | 99,515 | ||
Business and government [member] | Watch list [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 2,766 | 3,297 | ||
Undrawn loan commitments business and government [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of undrawn loan commitments before ACL | 270,346 | 263,546 | ||
Allowance for credit losses | 49 | 65 | ||
Carrying value of undrawn loan commitments net of ACL | 270,297 | 263,481 | ||
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 | [1] | 4,082 | 4,155 | |
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 | 118 | 102 | ||
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 | 199,375 | 187,322 | ||
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 | 65,596 | 69,795 | ||
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 | 1,175 | 2,172 | ||
Credit Card [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 13,622 | 12,450 | ||
Allowance for credit losses | 1,107 | 1,211 | ||
Carrying value of loans net of ACL | 12,515 | 11,239 | ||
Credit Card [member] | Very low probability of default [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 1,611 | 1,593 | ||
Credit Card [member] | Low probability of default [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 2,780 | 2,423 | ||
Credit Card [member] | Medium probability of default [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 3,424 | 2,832 | ||
Credit Card [member] | High probability of default [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 3,890 | 3,462 | ||
Credit Card [member] | Very High probability of default [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 566 | 530 | ||
Credit Card [member] | Loans not graded [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | [1] | 1,351 | 1,610 | |
Credit Card [member] | Default [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 0 | |||
Total Non Retail Loans [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 519,569 | 482,490 | ||
Allowance for credit losses | 1,231 | 1,337 | ||
Carrying value of loans net of ACL | 518,338 | 481,153 | ||
Total Non Retail Loans [Member] | Loans not graded [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | [1] | 6,336 | 6,317 | |
Total Non Retail Loans [Member] | Default [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 2,342 | 2,394 | ||
Total Non Retail Loans [Member] | Investment grade [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 333,846 | 299,000 | ||
Total Non Retail Loans [Member] | Non investment grade [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 173,104 | 169,310 | ||
Total Non Retail Loans [Member] | Watch list [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 3,941 | 5,469 | ||
Stage one exposure [Member] | Residential mortgages [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 327,842 | 300,681 | ||
Allowance for credit losses | 168 | 152 | ||
Carrying value of loans net of ACL | 327,674 | 300,529 | ||
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 | 198,894 | 187,163 | ||
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 | 79,199 | 69,306 | ||
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 | 17,222 | 9,170 | ||
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 | 2,503 | 904 | ||
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 | 57 | 16 | ||
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 | [1] | 29,967 | 34,122 | |
Stage one exposure [Member] | Loans to consumers [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 87,625 | 84,021 | ||
Allowance for credit losses | 655 | 644 | ||
Carrying value of loans net of ACL | 86,970 | 83,377 | ||
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 | 29,855 | 30,085 | ||
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 | 26,809 | 25,719 | ||
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 | 8,407 | 8,290 | ||
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 | 6,937 | 5,686 | ||
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 | 74 | 82 | ||
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 | [1] | 15,543 | 14,159 | |
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 | 134,284 | 125,299 | ||
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 | 93,791 | 88,308 | ||
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 | 20,251 | 17,880 | ||
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 | 7,734 | 6,858 | ||
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 | 3,785 | 3,103 | ||
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 | 41 | 24 | ||
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 | [1] | 8,682 | 9,126 | |
Stage one exposure [Member] | Total Retail Loans [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 561,443 | 519,888 | ||
Allowance for credit losses | 1,242 | 1,148 | ||
Carrying value of loans net of ACL | 560,201 | 518,740 | ||
Stage one exposure [Member] | Total Retail Loans [Member] | Very low probability of default [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 324,099 | 307,073 | ||
Stage one exposure [Member] | Total Retail Loans [Member] | Low probability of default [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 128,931 | 115,193 | ||
Stage one exposure [Member] | Total Retail Loans [Member] | Medium probability of default [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 36,720 | 26,984 | ||
Stage one exposure [Member] | Total Retail Loans [Member] | High probability of default [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 16,312 | 11,930 | ||
Stage one exposure [Member] | Total Retail Loans [Member] | Very High probability of default [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 216 | 143 | ||
Stage one exposure [Member] | Total Retail Loans [Member] | Loans not graded [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | [1] | 55,165 | 58,565 | |
Stage one exposure [Member] | Business and government [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 234,079 | 204,913 | ||
Allowance for credit losses | 202 | 186 | ||
Carrying value of loans net of ACL | 233,877 | 204,727 | ||
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] | 2,243 | 2,151 | |
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 | 133,757 | 110,786 | ||
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 | 98,055 | 91,945 | ||
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 | 24 | 31 | ||
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 | 263,437 | 256,232 | ||
Allowance for credit losses | 32 | 26 | ||
Carrying value of undrawn loan commitments net of ACL | 263,405 | 256,206 | ||
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 | [1] | 4,082 | 4,155 | |
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 | 197,941 | 186,056 | ||
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 | 61,413 | 66,009 | ||
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 | 1 | 12 | ||
Stage one exposure [Member] | Credit Card [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 11,692 | 9,887 | ||
Allowance for credit losses | 419 | 352 | ||
Carrying value of loans net of ACL | 11,273 | 9,535 | ||
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 | 1,559 | 1,517 | ||
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 | 2,672 | 2,288 | ||
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 | 3,357 | 2,666 | ||
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 | 3,087 | 2,237 | ||
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 | 44 | 21 | ||
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 | [1] | 973 | 1,158 | |
Stage one exposure [Member] | Total Non Retail Loans [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 497,516 | 461,145 | ||
Allowance for credit losses | 234 | 212 | ||
Carrying value of loans net of ACL | 497,282 | 460,933 | ||
Stage one exposure [Member] | Total Non Retail Loans [Member] | Loans not graded [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | [1] | 6,325 | 6,306 | |
Stage one exposure [Member] | Total Non Retail Loans [Member] | Investment grade [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 331,698 | 296,842 | ||
Stage one exposure [Member] | Total Non Retail Loans [Member] | Non investment grade [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 159,468 | 157,954 | ||
Stage one exposure [Member] | Total Non Retail Loans [Member] | Watch list [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 25 | 43 | ||
Stage two exposure [Member] | Residential mortgages [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 8,599 | 17,666 | ||
Allowance for credit losses | 273 | 276 | ||
Carrying value of loans net of ACL | 8,326 | 17,390 | ||
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 | 2,104 | 5,610 | ||
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 | 644 | 1,768 | ||
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 | 959 | 3,690 | ||
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 | 1,155 | 2,284 | ||
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 | 1,197 | 643 | ||
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 | [1] | 2,540 | 3,671 | |
Stage two exposure [Member] | Loans to consumers [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 6,045 | 6,686 | ||
Allowance for credit losses | 950 | 1,071 | ||
Carrying value of loans net of ACL | 5,095 | 5,615 | ||
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 | 150 | 168 | ||
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 | 322 | 574 | ||
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 | 1,028 | 1,127 | ||
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 | 1,804 | 2,307 | ||
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 | 1,511 | 1,157 | ||
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 | [1] | 1,230 | 1,353 | |
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 | 2,003 | 3,223 | ||
Stage two 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 | 11 | 14 | ||
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 | 8 | 12 | ||
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 | 33 | 36 | ||
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 | 316 | 745 | ||
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 | 321 | 212 | ||
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 | [1] | 1,314 | 2,204 | |
Stage two exposure [Member] | Total Retail Loans [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 18,577 | 30,138 | ||
Allowance for credit losses | 1,911 | 2,206 | ||
Carrying value of loans net of ACL | 16,666 | 27,932 | ||
Stage two exposure [Member] | Total Retail Loans [Member] | Very low probability of default [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 2,317 | 5,868 | ||
Stage two exposure [Member] | Total Retail Loans [Member] | Low probability of default [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 1,082 | 2,489 | ||
Stage two exposure [Member] | Total Retail Loans [Member] | Medium probability of default [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 2,087 | 5,019 | ||
Stage two exposure [Member] | Total Retail Loans [Member] | High probability of default [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 4,078 | 6,561 | ||
Stage two exposure [Member] | Total Retail Loans [Member] | Very High probability of default [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 3,551 | 2,521 | ||
Stage two exposure [Member] | Total Retail Loans [Member] | Loans not graded [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | [1] | 5,462 | 7,680 | |
Stage two exposure [Member] | Business and government [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 12,920 | 11,739 | ||
Allowance for credit losses | 335 | 431 | ||
Carrying value of loans net of ACL | 12,585 | 11,308 | ||
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 | [1] | 11 | 11 | |
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 | 714 | 892 | ||
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 | 9,453 | 7,570 | ||
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 | 2,742 | 3,266 | ||
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 | 6,791 | 7,212 | ||
Allowance for credit losses | 17 | 39 | ||
Carrying value of undrawn loan commitments net of ACL | 6,774 | 7,173 | ||
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 | 1,434 | 1,266 | ||
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 | 4,183 | 3,786 | ||
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 | 1,174 | 2,160 | ||
Stage two exposure [Member] | Credit Card [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 1,930 | 2,563 | ||
Allowance for credit losses | 688 | 859 | ||
Carrying value of loans net of ACL | 1,242 | 1,704 | ||
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 | 52 | 76 | ||
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 | 108 | 135 | ||
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 | 67 | 166 | ||
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 | 803 | 1,225 | ||
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 | 522 | 509 | ||
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] | 378 | 452 | |
Stage two exposure [Member] | Total Non Retail Loans [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 19,711 | 18,951 | ||
Allowance for credit losses | 352 | 470 | ||
Carrying value of loans net of ACL | 19,359 | 18,481 | ||
Stage two exposure [Member] | Total Non Retail Loans [Member] | Loans not graded [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | [1] | 11 | 11 | |
Stage two exposure [Member] | Total Non Retail Loans [Member] | Investment grade [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 2,148 | 2,158 | ||
Stage two exposure [Member] | Total Non Retail Loans [Member] | Non investment grade [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 13,636 | 11,356 | ||
Stage two exposure [Member] | Total Non Retail Loans [Member] | Watch list [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | 3,916 | 5,426 | ||
Stage three exposure [Member] | Residential mortgages [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | [2] | 1,273 | 1,331 | |
Allowance for credit losses | [2] | 393 | 374 | |
Carrying value of loans net of ACL | [2] | 880 | 957 | |
Stage three exposure [Member] | Residential mortgages [member] | Default [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | [2] | 1,273 | 1,331 | |
Stage three exposure [Member] | Loans to consumers [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | [2] | 767 | 833 | |
Allowance for credit losses | [2] | 566 | 626 | |
Carrying value of loans net of ACL | [2] | 201 | 207 | |
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 | [2] | 767 | 833 | |
Stage three exposure [Member] | Total Retail Loans [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | [2] | 2,040 | 2,164 | |
Allowance for credit losses | [2] | 959 | 1,000 | |
Carrying value of loans net of ACL | [2] | 1,081 | 1,164 | |
Stage three exposure [Member] | Total Retail Loans [Member] | Default [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | [2] | 2,040 | 2,164 | |
Stage three exposure [Member] | Business and government [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | [2] | 2,224 | 2,292 | |
Allowance for credit losses | [2] | 645 | 655 | |
Carrying value of loans net of ACL | [2] | 1,579 | 1,637 | |
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] | 2,224 | 2,292 | |
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 | [2] | 118 | 102 | |
Carrying value of undrawn loan commitments net of ACL | [2] | 118 | 102 | |
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 | [2] | 118 | 102 | |
Stage three exposure [Member] | Total Non Retail Loans [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | [2] | 2,342 | 2,394 | |
Allowance for credit losses | [2] | 645 | 655 | |
Carrying value of loans net of ACL | [2] | 1,697 | 1,739 | |
Stage three exposure [Member] | Total Non Retail Loans [Member] | Default [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Carrying value of loans before ACL | [2] | $ 2,342 | $ 2,394 | |
[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. |
Loans, Impaired Loans and Al_10
Loans, Impaired Loans and Allowance for Credit Losses - Additional Information (Detail) - CAD ($) $ in Millions | 3 Months Ended | ||
Apr. 30, 2022 | Jan. 31, 2022 | Oct. 31, 2021 | |
Base case scenario [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
ACL (Stage 1 and Stage 2) | $ 3,771 | $ 3,960 | $ 4,076 |
Base case scenario [member] | Previously stated [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
ACL (Stage 1 and Stage 2) | 3,698 | 3,900 | 3,998 |
Pessimistic scenario [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
ACL (Stage 1 and Stage 2) | 679 | 675 | 866 |
Probability Weighted Scenarios [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
ACL (Stage 1 and Stage 2) | $ 391 | $ 381 | $ 407 |
Loans, Impaired Loans and Al_11
Loans, Impaired Loans and Allowance for Credit Losses - Loans Past Due But Not Impaired (Detail) - CAD ($) $ in Millions | Apr. 30, 2022 | Jan. 31, 2022 | Oct. 31, 2021 | |
Disclosure of detailed information about financial instruments [line items] | ||||
Loans and receivables gross | $ 694,996 | $ 672,830 | $ 642,612 | |
Residential mortgages [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Loans and receivables gross | 337,714 | 319,678 | ||
Loans to consumers [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Loans and receivables gross | 94,437 | 91,540 | ||
Credit Card [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Loans and receivables gross | 13,622 | 12,450 | ||
Business and government [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Loans and receivables gross | 249,223 | 218,944 | ||
Financial assets past due but not impaired [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Loans and receivables gross | [1] | 2,368 | 2,326 | 2,237 |
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] | 1,157 | 1,177 | 1,059 |
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 | [1] | 605 | 650 | 621 |
Financial assets past due but not impaired [member] | Credit Card [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Loans and receivables gross | [1] | 408 | 398 | 409 |
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 | [1] | 198 | 101 | 148 |
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 | [1] | 1,428 | 1,416 | 1,392 |
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] | 797 | 791 | 732 |
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 | [1] | 387 | 424 | 411 |
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 | [1] | 133 | 130 | 125 |
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 | [1] | 111 | 71 | 124 |
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] | 756 | 726 | 644 |
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 | [1] | 360 | 386 | 327 |
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 | [1] | 218 | 226 | 210 |
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 | [1] | 91 | 84 | 83 |
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 | [1] | 87 | 30 | 24 |
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 | [1],[2] | 184 | 184 | 201 |
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 | [1],[2] | $ 184 | $ 184 | $ 201 |
[1] | For loans where payment deferrals were granted, deferred payments are not considered past due and such loans are not aged further during the deferral period. Regular ageing of the loans resumes, after the end of the deferral period. | |||
[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. |
Loans, Impaired Loans and Al_12
Loans, Impaired Loans and Allowance for Credit Losses - Summary of Purchased Credit Impaired Loans (Detail) - CAD ($) $ in Millions | Apr. 30, 2022 | Jan. 31, 2022 | Oct. 31, 2021 | Apr. 30, 2021 | Oct. 31, 2020 | |
Disclosure of detailed information about financial instruments [line items] | ||||||
Stage 3 allowance | $ (5,370) | $ (4,249) | $ (5,728) | $ (6,889) | $ (7,817) | |
Loans acquired in business combination [member] | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Unpaid principal balance | [1] | 308 | 310 | 303 | ||
Credit related fair value adjustments | (69) | (69) | (68) | |||
Carrying value | 239 | 241 | 235 | |||
Carrying value net related allowance | 238 | 240 | 234 | |||
Loans acquired in business combination [member] | Stage 3 [member] | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Stage 3 allowance | $ (1) | $ (1) | $ (1) | |||
[1] | Represents principal amount owed net of write-offs. |
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 | Apr. 30, 2022 | Jan. 31, 2022 | Oct. 31, 2021 |
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | |||
Carrying value of associated liabilities | $ 24,510 | $ 25,446 | $ 25,833 |
Residential mortgage loans [member] | |||
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | |||
Carrying value of assets | 15,880 | 16,565 | 17,145 |
Other related assets [member] | |||
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | |||
Carrying value of assets | $ 9,225 | $ 9,690 | $ 9,787 |
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 | Apr. 30, 2022 | Jan. 31, 2022 | Oct. 31, 2021 |
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | |||
Fair value of transferred assets | $ 23,769 | $ 25,123 | $ 25,761 |
Fair value of associated liabilities | 23,882 | 25,515 | 26,021 |
Net position | $ (113) | $ (392) | $ (260) |
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 | Apr. 30, 2022 | Jan. 31, 2022 | Oct. 31, 2021 |
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | |||
Carrying value of assets | $ 166,119 | $ 160,384 | $ 159,589 |
Carrying value of associated liabilities | 131,978 | 122,878 | 123,469 |
Repurchase agreement [member] | |||
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | |||
Carrying value of assets | 106,452 | 96,628 | 100,083 |
Securities lending [member] | |||
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | |||
Carrying value of assets | $ 59,667 | $ 63,756 | $ 59,506 |
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 | Apr. 30, 2022 | Jan. 31, 2022 | Oct. 31, 2021 |
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | |||
Fair value of transferred assets | $ 166,119 | $ 160,384 | $ 159,589 |
Fair value of the associated liabilities | 131,978 | 122,878 | 123,469 |
Net position | $ 34,141 | $ 37,506 | $ 36,120 |
Investments in Associates - Sum
Investments in Associates - Summary of Significant Investments in Associates (Detail) - CAD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |
Jan. 31, 2022 | Oct. 31, 2021 | Apr. 30, 2022 | |
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 | Mar. 31, 2022 | ||
Carrying value | $ 558 | $ 549 | $ 546 |
Bank of Xian Co Ltd [member] | |||
Disclosure of associates [line items] | |||
Country of incorporation | China | ||
Nature of business | Banking | ||
Ownership percentage | 18.11% | 17.99% | 18.11% |
Date of financial statements | Mar. 31, 2022 | ||
Carrying value | $ 1,034 | $ 968 | $ 1,033 |
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 | Mar. 31, 2022 | ||
Carrying value | $ 388 | $ 366 | $ 402 |
Investments in Associates - S_2
Investments in Associates - Summary of Significant Investments in Associates (Parenthetical) (Detail) - CAD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jan. 31, 2022 | Oct. 31, 2021 | Apr. 30, 2022 | Apr. 30, 2021 | |
Disclosure of associates [line items] | ||||
Undistributed retained earnings | $ 62 | $ 60 | $ 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 | |||
Ownership percentage | 20.00% | |||
Bank of Xian Co Ltd [member] | ||||
Disclosure of associates [line items] | ||||
Investments in associates based on quoted Stock Exchange price on Shanghai | $ 675 | $ 671 | $ 579 | |
Ownership percentage | 18.11% | 17.99% | 18.11% |
Deposits - Summary of Deposits
Deposits - Summary of Deposits (Detail) - CAD ($) $ in Millions | Apr. 30, 2022 | Jan. 31, 2022 | Oct. 31, 2021 | Jan. 31, 2021 |
Disclosure Of Deposits [line items] | ||||
Payable after notice | $ 209,347 | |||
Payable on a fixed date | 430,164 | |||
Total | 876,554 | $ 851,045 | $ 797,259 | $ 797,259 |
Canada [member] | ||||
Disclosure Of Deposits [line items] | ||||
Payable after notice | 177,321 | |||
Payable on a fixed date | 281,918 | |||
Total | 622,887 | 603,352 | 571,254 | |
United States [member] | ||||
Disclosure Of Deposits [line items] | ||||
Payable after notice | 924 | |||
Payable on a fixed date | 52,404 | |||
Total | 94,811 | 100,715 | 87,626 | |
United Kingdom [member] | ||||
Disclosure Of Deposits [line items] | ||||
Payable after notice | 369 | |||
Payable on a fixed date | 22,403 | |||
Total | 22,772 | 18,255 | 17,232 | |
Mexico [member] | ||||
Disclosure Of Deposits [line items] | ||||
Payable after notice | 7,528 | |||
Payable on a fixed date | 13,239 | |||
Total | 26,960 | 26,173 | 24,259 | |
Peru [member] | ||||
Disclosure Of Deposits [line items] | ||||
Payable after notice | 5,576 | |||
Payable on a fixed date | 4,170 | |||
Total | 15,630 | 15,513 | 14,520 | |
Chile [member] | ||||
Disclosure Of Deposits [line items] | ||||
Payable after notice | 167 | |||
Payable on a fixed date | 12,796 | |||
Total | 20,702 | 22,229 | 20,631 | |
Colombia [member] | ||||
Disclosure Of Deposits [line items] | ||||
Payable after notice | 4,996 | |||
Payable on a fixed date | 4,216 | |||
Total | 9,886 | 9,578 | 9,184 | |
Other International [member] | ||||
Disclosure Of Deposits [line items] | ||||
Payable after notice | 12,466 | |||
Payable on a fixed date | 39,018 | |||
Total | 62,906 | 55,230 | 52,553 | |
Personal [member] | ||||
Disclosure Of Deposits [line items] | ||||
Payable after notice | 165,185 | |||
Payable on a fixed date | 68,105 | |||
Total | 252,847 | 247,067 | 243,551 | |
Business and government [member] | ||||
Disclosure Of Deposits [line items] | ||||
Payable after notice | 42,316 | |||
Payable on a fixed date | 323,612 | |||
Total | 569,268 | 559,616 | 511,348 | |
Financial institution [member] | ||||
Disclosure Of Deposits [line items] | ||||
Payable after notice | 1,846 | |||
Payable on a fixed date | 38,447 | |||
Total | 54,439 | $ 44,362 | $ 42,360 | |
Interest bearing [member] | ||||
Disclosure Of Deposits [line items] | ||||
Payable on demand | 188,743 | |||
Interest bearing [member] | Canada [member] | ||||
Disclosure Of Deposits [line items] | ||||
Payable on demand | 135,265 | |||
Interest bearing [member] | United States [member] | ||||
Disclosure Of Deposits [line items] | ||||
Payable on demand | 41,340 | |||
Interest bearing [member] | Peru [member] | ||||
Disclosure Of Deposits [line items] | ||||
Payable on demand | 5,693 | |||
Interest bearing [member] | Chile [member] | ||||
Disclosure Of Deposits [line items] | ||||
Payable on demand | 1,792 | |||
Interest bearing [member] | Colombia [member] | ||||
Disclosure Of Deposits [line items] | ||||
Payable on demand | 37 | |||
Interest bearing [member] | Other International [member] | ||||
Disclosure Of Deposits [line items] | ||||
Payable on demand | 4,616 | |||
Interest bearing [member] | Personal [member] | ||||
Disclosure Of Deposits [line items] | ||||
Payable on demand | 9,045 | |||
Interest bearing [member] | Business and government [member] | ||||
Disclosure Of Deposits [line items] | ||||
Payable on demand | 166,454 | |||
Interest bearing [member] | Financial institution [member] | ||||
Disclosure Of Deposits [line items] | ||||
Payable on demand | 13,244 | |||
Non- interest bearing [member] | ||||
Disclosure Of Deposits [line items] | ||||
Payable on demand | 48,300 | |||
Non- interest bearing [member] | Canada [member] | ||||
Disclosure Of Deposits [line items] | ||||
Payable on demand | 28,383 | |||
Non- interest bearing [member] | United States [member] | ||||
Disclosure Of Deposits [line items] | ||||
Payable on demand | 143 | |||
Non- interest bearing [member] | Mexico [member] | ||||
Disclosure Of Deposits [line items] | ||||
Payable on demand | 6,193 | |||
Non- interest bearing [member] | Peru [member] | ||||
Disclosure Of Deposits [line items] | ||||
Payable on demand | 191 | |||
Non- interest bearing [member] | Chile [member] | ||||
Disclosure Of Deposits [line items] | ||||
Payable on demand | 5,947 | |||
Non- interest bearing [member] | Colombia [member] | ||||
Disclosure Of Deposits [line items] | ||||
Payable on demand | 637 | |||
Non- interest bearing [member] | Other International [member] | ||||
Disclosure Of Deposits [line items] | ||||
Payable on demand | 6,806 | |||
Non- interest bearing [member] | Personal [member] | ||||
Disclosure Of Deposits [line items] | ||||
Payable on demand | 10,512 | |||
Non- interest bearing [member] | Business and government [member] | ||||
Disclosure Of Deposits [line items] | ||||
Payable on demand | 36,886 | |||
Non- interest bearing [member] | Financial institution [member] | ||||
Disclosure Of Deposits [line items] | ||||
Payable on demand | $ 902 |
Deposits - Summary of Deposit_2
Deposits - Summary of Deposits (Parenthetical) (Detail) - CAD ($) $ in Millions | Apr. 30, 2022 | Jan. 31, 2022 | Oct. 31, 2021 | Jan. 31, 2021 |
Disclosure Of Deposits [line Items] | ||||
Payable after notice | $ 209,347 | |||
Deposits | 876,554 | $ 851,045 | $ 797,259 | $ 797,259 |
U.S. dollar [member] | ||||
Disclosure Of Deposits [line Items] | ||||
Deposits | 306,726 | 295,809 | 259,027 | |
Chile, Pesos [member] | ||||
Disclosure Of Deposits [line Items] | ||||
Deposits | 17,298 | 19,027 | 17,841 | |
Mexico, Pesos [member] | ||||
Disclosure Of Deposits [line Items] | ||||
Deposits | 24,912 | 23,696 | 22,032 | |
Other Foreign Currencies [member] | ||||
Disclosure Of Deposits [line Items] | ||||
Deposits | 104,324 | 95,595 | 82,871 | |
Non interest bearing deposits [member] | ||||
Disclosure Of Deposits [line Items] | ||||
Payable after notice | $ 157 | $ 160 | $ 193 |
Deposits - Summary of Maturity
Deposits - Summary of Maturity Schedule for Term Deposits (Detail) - Canada [member] - CAD ($) $ in Millions | Apr. 30, 2022 | Jan. 31, 2022 | Oct. 31, 2021 |
Disclosure Of Deposits [line items] | |||
Term deposit | $ 254,259 | $ 230,116 | $ 201,240 |
Within three months [member] | |||
Disclosure Of Deposits [line items] | |||
Term deposit | 46,662 | 46,763 | 34,829 |
Three to six months [member] | |||
Disclosure Of Deposits [line items] | |||
Term deposit | 23,001 | 22,653 | 24,372 |
Six to twelve months [member] | |||
Disclosure Of Deposits [line items] | |||
Term deposit | 50,159 | 36,392 | 30,918 |
One to 5 years [member] | |||
Disclosure Of Deposits [line items] | |||
Term deposit | 112,031 | 102,386 | 90,433 |
Over 5 years [member] | |||
Disclosure Of Deposits [line items] | |||
Term deposit | $ 22,406 | $ 21,922 | $ 20,688 |
Capital and Financing Transac_2
Capital and Financing Transactions - Additional Information (Detail) $ / shares in Units, $ in Millions, $ in Millions | Apr. 12, 2022USD ($) | Mar. 30, 2022CAD ($) | Mar. 28, 2022shares | Mar. 21, 2022CAD ($) | Nov. 30, 2021shares | Apr. 30, 2022CAD ($) | Apr. 30, 2022CAD ($)$ / sharesshares | Apr. 30, 2021CAD ($)shares |
Disclosure of objectives, policies and processes for managing capital [line items] | ||||||||
Interest rate | 2.58% | |||||||
Common shares purchased for cancellation | $ | $ 1,250 | $ 2,336 | ||||||
Shares repurchased/redeemed | $ | $ 1,250 | $ 2,836 | $ 759 | |||||
Percentage of the principal amount of subordinated debt redeemable | 100.00% | |||||||
Subordinated debentures redemption date | Mar. 30, 2027 | |||||||
Fixed interest rate [member] | Subordinated Debt [Member] | ||||||||
Disclosure of objectives, policies and processes for managing capital [line items] | ||||||||
Interest rate | 4.588% | 3.934% | ||||||
Subordinated debentures redemption date | May 4, 2037 | May 3, 2032 | ||||||
Notional amount | $ 1,250 | $ 1,750 | ||||||
Subordinated debt description of variable rate basis | The debentures are subject to optional redemption by the Bank during the period from April 12, 2027, to May 4, 2032, and following the occurrence of certain defined events. Interest will be payable semi-annually at a rate of 4.588% per annum from and including the issue date to, but excluding, May 4, 2032, and thereafter to, but excluding, May 4, 2037, at the then prevailing 5-Year U.S. Treasury Rate plus 2.050%. | The debentures are subject to optional redemption by the Bank on or after May 3, 2027, and following the occurrence of certain defined events. Interest will be payable semi-annually at a rate of 3.934% per annum from and including the issue date to, but excluding, May 3, 2027, and thereafter payable quarterly to, but excluding, May 3, 2032, at the Three-month Bankers’ Acceptance rate plus 1.52%. | ||||||
NCIB [member] | ||||||||
Disclosure of objectives, policies and processes for managing capital [line items] | ||||||||
Shares repurchased and cancelled, shares | 26,300,000 | |||||||
Shares repurchased and cancelled, per share | $ / shares | $ 88.76 | |||||||
Common shares purchased for cancellation | $ | $ 2,336 | |||||||
Number of common shares repurchased | 0 | |||||||
NCIB 2022 [Member] | ||||||||
Disclosure of objectives, policies and processes for managing capital [line items] | ||||||||
Shares intended to repurchase for cancellation,Shares | 24,000,000 | |||||||
NCIB 2022 Amendment [Member] | ||||||||
Disclosure of objectives, policies and processes for managing capital [line items] | ||||||||
Shares intended to repurchase for cancellation,Shares | 24,000,000 | |||||||
Description Of Purchases And Termination Of Shares As Per Normal Course Issuer Bid | Purchases under the 2022 NCIB commenced on December 2, 2021, and will terminate upon earlier of: (i) the Bank purchasing the maximum number of common shares under the 2022 NCIB Amendment, (ii) the Bank providing a notice of termination, or (iii) December 1, 2022. On a quarterly basis, the Bank will notify OSFI prior to making purchases. | |||||||
Increase decrease in number of shares repurchased subject to cancellation | 36,000,000 |
Capital Management - Summary of
Capital Management - Summary of Regulatory Capital and Capital Ratios (Detail) - CAD ($) $ in Millions | Apr. 30, 2022 | Jan. 31, 2022 | Oct. 31, 2021 | |
Capital | ||||
Common Equity Tier 1 Capital | $ 51,547 | $ 52,150 | $ 51,010 | |
Net Tier 1 Capital | 57,201 | 57,911 | 57,915 | |
Total regulatory capital | 66,628 | 65,527 | 66,101 | |
Total loss absorbing capacity | [1],[2] | 133,841 | 122,613 | 115,681 |
Risk-weighted assets/exposures used in calculation of capital ratios | ||||
Risk-weighted assets | [1],[3] | 445,273 | 433,682 | 416,105 |
Leverage exposures | [4] | $ 1,360,184 | $ 1,308,247 | $ 1,201,766 |
Regulatory ratios | ||||
Common Equity Tier 1 Capital ratio | 11.60% | 12.00% | 12.30% | |
Tier 1 capital ratio | 12.80% | 13.40% | 13.90% | |
Total capital ratio | 15.00% | 15.10% | 15.90% | |
Total loss absorbing capacity ratio | [2] | 30.10% | 28.30% | 27.80% |
Leverage ratio | [4] | 4.20% | 4.40% | 4.80% |
Total loss absorbing capacity leverage ratio | [2] | 9.80% | 9.40% | 9.60% |
[1] | This measure has been disclosed in this document in accordance with OSFI Guideline – Capital Adequacy Requirements (November 2018). | |||
[2] | This measure has been disclosed in this document in accordance with OSFI Guideline – Total Loss Absorbing Capacity (September 2018). Results for October 31, 2021 are shown for comparative purposes and were not a regulatory requirement. | |||
[3] | As at April 30, 2022, January 31, 2022 and October 31, 2021, the Bank did not have a regulatory capital floor add-on for CET1, Tier 1, Total capital and TLAC RWA. | |||
[4] | This measure has been disclosed in this document in accordance with OSFI Guideline – Leverage Requirements (November 2018). |
Capital Management - Summary _2
Capital Management - Summary of Regulatory Capital and Capital Ratios (Parenthetical) (Detail) - CAD ($) $ in Millions | Apr. 30, 2022 | Jan. 31, 2022 | Oct. 31, 2021 |
Disclosure of regulatory capital and capital ratios [Line Items] | |||
Common Equity Tier 1 Capital Basel I floor adjustment | $ 0 | $ 0 | $ 0 |
Tier 1 Capital Basel I floor adjustment | $ 0 | $ 0 | $ 0 |
Share-based Payments - Addition
Share-based Payments - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | |||
Apr. 30, 2022CAD ($) | Jan. 31, 2022CAD ($)$ / shares | Apr. 30, 2021CAD ($) | Apr. 30, 2022CAD ($) | Apr. 30, 2021CAD ($) | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Stock options, exercisable period | 4 years | ||||
Employee stock options [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Number of share options, granted | 1,716,536 | ||||
Exercise price of options granted | $ / shares | $ 85.46 | ||||
Weighted average grant date fair value of options granted | $ 7.54 | ||||
Increase to equity | $ 2,000,000 | $ 1,000,000 | $ 8,000,000 | $ 5,000,000 | |
Employee stock options [member] | Vesting period of 3 Years [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Stock options vesting percentage | 50.00% | ||||
Employee stock options [member] | Vesting period of 4 Years [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Stock options vesting percentage | 50.00% |
Employee Benefits - Summary of
Employee Benefits - Summary of Financial Information related to Principal Plans (Detail) - CAD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||||
Apr. 30, 2022 | Jan. 31, 2022 | Apr. 30, 2021 | Apr. 30, 2022 | Apr. 30, 2021 | ||||
Disclosure of net defined benefit liability (asset) [line items] | ||||||||
Increase (Decrease) in other comprehensive income related to employee benefits | $ 1,055 | $ 148 | $ 887 | $ 1,203 | $ 1,528 | |||
Pension plans [member] | ||||||||
Disclosure of net defined benefit liability (asset) [line items] | ||||||||
Defined benefit service cost | 78 | 79 | 95 | 157 | 190 | |||
Interest on net defined benefit (asset) liability | (2) | (1) | 10 | (3) | 19 | |||
Other | 4 | 4 | 3 | 8 | 6 | |||
Defined benefit expense | 80 | 82 | 108 | 162 | 215 | |||
Defined contribution expense | 31 | 30 | 26 | 61 | 49 | |||
Increase (Decrease) in other comprehensive income related to employee benefits | 936 | 109 | 814 | 1,045 | [1] | 1,451 | [1] | |
Other benefit plans [member] | ||||||||
Disclosure of net defined benefit liability (asset) [line items] | ||||||||
Defined benefit service cost | 6 | 5 | 6 | 11 | 12 | |||
Interest on net defined benefit (asset) liability | 11 | 12 | 11 | 23 | 22 | |||
Other | (5) | (2) | (4) | (7) | (4) | |||
Defined benefit expense | 12 | 15 | 13 | 27 | 30 | |||
Increase (Decrease) in other comprehensive income related to employee benefits | $ 119 | $ 39 | $ 73 | [1] | $ 158 | [1] | $ 77 | [1] |
[1] | This measure has been disclosed in this document in accordance with OSFI Guideline – Leverage Requirements (November 2018). |
Operating Segments - Additional
Operating Segments - Additional Information (Detail) | 3 Months Ended |
Jan. 31, 2022 | |
Disclosure of operating segments [line items] | |
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 four business lines: Canadian Banking, International Banking, Global Banking and Markets, and Global Wealth Management. Other smaller business segments are included in the Other segment. 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 | 6 Months Ended | |||
Apr. 30, 2022 | Jan. 31, 2022 | Apr. 30, 2021 | Apr. 30, 2022 | Apr. 30, 2021 | |
Disclosure of operating segments [line items] | |||||
Net interest income | $ 4,473 | $ 4,344 | $ 4,176 | $ 8,817 | $ 8,527 |
Non-interest income | 3,469 | 3,705 | 3,560 | 7,174 | 7,281 |
Total revenue | 7,942 | 8,049 | 7,736 | 15,991 | 15,808 |
Provision for credit losses | 219 | 222 | 496 | 441 | 1,260 |
Non-interest expenses | 4,159 | 4,223 | 4,042 | 8,382 | 8,250 |
Provision for income taxes | 817 | 864 | 742 | 1,681 | 1,444 |
Net income | 2,747 | 2,740 | 2,456 | 5,487 | 4,854 |
Net income attributable to non-controlling interests in subsidiaries | 78 | 88 | 90 | 166 | 180 |
Net income attributable to equity holders of the Bank | 2,669 | 2,652 | 2,366 | 5,321 | 4,674 |
Average assets | 1,264,000 | 1,239,000 | 1,151,000 | 1,251,000 | 1,154,000 |
Average liabilities | 1,192,000 | 1,165,000 | 1,080,000 | 1,178,000 | 1,083,000 |
Operating segments [member] | Canadian banking [member] | |||||
Disclosure of operating segments [line items] | |||||
Net interest income | 2,144 | 2,133 | 1,934 | 4,277 | 3,918 |
Non-interest income | 759 | 741 | 690 | 1,500 | 1,354 |
Total revenue | 2,903 | 2,874 | 2,624 | 5,777 | 5,272 |
Provision for credit losses | (12) | (35) | 145 | (47) | 360 |
Non-interest expenses | 1,324 | 1,282 | 1,229 | 2,606 | 2,433 |
Provision for income taxes | 412 | 426 | 323 | 838 | 641 |
Net income | 1,179 | 1,201 | 927 | 2,380 | 1,838 |
Net income attributable to equity holders of the Bank | 1,179 | 1,201 | 927 | 2,380 | 1,838 |
Average assets | 423,000 | 412,000 | 372,000 | 417,000 | 370,000 |
Average liabilities | 326,000 | 320,000 | 311,000 | 323,000 | 308,000 |
Operating segments [member] | International banking [member] | |||||
Disclosure of operating segments [line items] | |||||
Net interest income | 1,687 | 1,648 | 1,662 | 3,335 | 3,450 |
Non-interest income | 720 | 749 | 716 | 1,469 | 1,489 |
Total revenue | 2,407 | 2,397 | 2,378 | 4,804 | 4,939 |
Provision for credit losses | 276 | 274 | 396 | 550 | 921 |
Non-interest expenses | 1,268 | 1,285 | 1,294 | 2,553 | 2,696 |
Provision for income taxes | 182 | 208 | 181 | 390 | 338 |
Net income | 681 | 630 | 507 | 1,311 | 984 |
Net income attributable to non-controlling interests in subsidiaries | 76 | 85 | 87 | 161 | 175 |
Net income attributable to equity holders of the Bank | 605 | 545 | 420 | 1,150 | 809 |
Average assets | 204,000 | 196,000 | 194,000 | 200,000 | 197,000 |
Average liabilities | 149,000 | 144,000 | 149,000 | 146,000 | 151,000 |
Operating segments [member] | Global Wealth Management [member] | |||||
Disclosure of operating segments [line items] | |||||
Net interest income | 184 | 174 | 152 | 358 | 307 |
Non-interest income | 1,174 | 1,248 | 1,156 | 2,422 | 2,391 |
Total revenue | 1,358 | 1,422 | 1,308 | 2,780 | 2,698 |
Provision for credit losses | 1 | (1) | (2) | 2 | |
Non-interest expenses | 803 | 862 | 802 | 1,665 | 1,619 |
Provision for income taxes | 145 | 146 | 134 | 291 | 282 |
Net income | 409 | 415 | 374 | 824 | 795 |
Net income attributable to non-controlling interests in subsidiaries | 2 | 3 | 2 | 5 | 5 |
Net income attributable to equity holders of the Bank | 407 | 412 | 372 | 819 | 790 |
Average assets | 32,000 | 31,000 | 28,000 | 32,000 | 28,000 |
Average liabilities | 48,000 | 47,000 | 45,000 | 48,000 | 43,000 |
Operating segments [member] | Global banking and markets [member] | |||||
Disclosure of operating segments [line items] | |||||
Net interest income | 360 | 373 | 350 | 733 | 708 |
Non-interest income | 902 | 1,031 | 907 | 1,933 | 1,885 |
Total revenue | 1,262 | 1,404 | 1,257 | 2,666 | 2,593 |
Provision for credit losses | (46) | (16) | (43) | (62) | (23) |
Non-interest expenses | 653 | 670 | 633 | 1,323 | 1,247 |
Provision for income taxes | 167 | 189 | 150 | 356 | 309 |
Net income | 488 | 561 | 517 | 1,049 | 1,060 |
Net income attributable to equity holders of the Bank | 488 | 561 | 517 | 1,049 | 1,060 |
Average assets | 431,000 | 444,000 | 399,000 | 438,000 | 397,000 |
Average liabilities | 400,000 | 407,000 | 398,000 | 403,000 | 393,000 |
Operating segments [member] | Other smaller operating segments and corporate adjustments [member] | |||||
Disclosure of operating segments [line items] | |||||
Net interest income | 98 | 16 | 78 | 114 | 144 |
Non-interest income | (86) | (64) | 91 | (150) | 162 |
Total revenue | 12 | (48) | 169 | (36) | 306 |
Non-interest expenses | 111 | 124 | 84 | 235 | 255 |
Provision for income taxes | (89) | (105) | (46) | (194) | (126) |
Net income | (10) | (67) | 131 | (77) | 177 |
Net income attributable to non-controlling interests in subsidiaries | 1 | ||||
Net income attributable to equity holders of the Bank | (10) | (67) | 130 | (77) | 177 |
Average assets | 174,000 | 156,000 | 158,000 | 164,000 | 162,000 |
Average liabilities | $ 269,000 | $ 247,000 | $ 177,000 | $ 258,000 | $ 188,000 |
Operating Segments - Schedule_2
Operating Segments - Schedule of Operating Segments (Parenthetical) (Detail) - CAD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Apr. 30, 2022 | Jan. 31, 2022 | Apr. 30, 2021 | Apr. 30, 2022 | Apr. 30, 2021 | |
Other smaller operating segments and corporate adjustments [member] | |||||
Disclosure of operating segments [line items] | |||||
Tax-exempt income | $ 92 | $ 92 | $ 76 | $ 184 | $ 145 |
Net income (loss) from investments in associated corporations | (16) | 14 | 30 | (2) | 15 |
Canadian banking [member] | |||||
Disclosure of operating segments [line items] | |||||
Net income (loss) from investments in associated corporations | 18 | 8 | 26 | 26 | 46 |
International banking [member] | |||||
Disclosure of operating segments [line items] | |||||
Net income (loss) from investments in associated corporations | 77 | 68 | 53 | 145 | 102 |
Global Wealth Management [member] | |||||
Disclosure of operating segments [line items] | |||||
Net income (loss) from investments in associated corporations | $ 5 | $ 1 | $ 4 | $ 6 | $ 7 |
Interest Income and Expense - D
Interest Income and Expense - Details of Interest Income from Financial Assets (Detail) - CAD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Apr. 30, 2022 | Jan. 31, 2022 | Apr. 30, 2021 | Apr. 30, 2022 | Apr. 30, 2021 | ||
Disclosure of Interest Income Expense [line items] | ||||||
Measured at amortized cost | [1] | $ 6,654 | $ 6,150 | $ 5,897 | $ 12,804 | $ 12,109 |
Measured at FVOCI | [1] | 261 | 181 | 181 | 442 | 369 |
Interest income calculated using effective interest method | 6,915 | 6,331 | 6,078 | 13,246 | 12,478 | |
Other | [2] | 177 | 132 | 109 | 309 | 221 |
Interest income | [3] | 7,092 | 6,463 | 6,187 | 13,555 | 12,699 |
Measured at amortized cost | [1] | 2,581 | 2,069 | 1,962 | 4,650 | 4,088 |
Interest expense calculated using effective interest method | 2,581 | 2,069 | 1,962 | 4,650 | 4,088 | |
Other | [4] | 38 | 50 | 49 | 88 | 84 |
Interest expenses | $ 2,619 | $ 2,119 | $ 2,011 | $ 4,738 | $ 4,172 | |
[1] | The interest income/expense on financial assets/liabilities are calculated using the effective interest method. | |||||
[2] | Includes dividend income on equity securities. | |||||
[3] | Includes interest income on financial assets measured at amortized cost and FVOCI, calculated using the effective interest method, of $6,915 for the three months ended April 30, 2022 (January 31, 2022 – $6,331; April 30, 2021 – $6,078) and for the six months ended April 30, 2022 – $13,246 (April 30, 2021 – $12,478). | |||||
[4] | Includes interest on lease liabilities for the three months ended Apri; 30 , 2022 $0 (January 31, 2022 – $27; Apri; 30 , 2021 – $27) and for the six months ended April 30, 2022 - $0(April30,2021 - $54). |
Interest Income and Expense -_2
Interest Income and Expense - Details of Interest Income from Financial Assets (Parenthetical) (Detail) - CAD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Apr. 30, 2022 | Jan. 31, 2022 | Apr. 30, 2021 | Apr. 30, 2022 | Apr. 30, 2021 | |
Expenses by nature [abstract] | |||||
Interest expense on lease liabilities | $ 26 | $ 27 | $ 27 | $ 53 | $ 54 |
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 | 6 Months Ended | ||||
Apr. 30, 2022 | Jan. 31, 2022 | Apr. 30, 2021 | Apr. 30, 2022 | Apr. 30, 2021 | ||
Basic earnings per common share | ||||||
Net income attributable to common shareholders | $ 2,595 | $ 2,608 | $ 2,289 | $ 5,203 | $ 4,554 | |
Weighted average number of common shares outstanding | 1,199 | 1,211 | 1,213 | 1,205 | 1,213 | |
Basic earnings per common share | [1] | $ 2.16 | $ 2.15 | $ 1.89 | $ 4.32 | $ 3.76 |
Diluted earnings per common share | ||||||
Net income attributable to common shareholders | $ 2,595 | $ 2,608 | $ 2,289 | $ 5,203 | $ 4,554 | |
Dilutive impact of share-based payment options and others | [2] | 24 | 13 | 67 | 116 | |
Net income attributable to common shareholders (diluted) | $ 2,595 | $ 2,632 | $ 2,302 | $ 5,270 | $ 4,670 | |
Weighted average number of common shares outstanding | 1,199 | 1,211 | 1,213 | 1,205 | 1,213 | |
Dilutive impact of share-based payment options and others | [2] | 2 | 19 | 10 | 20 | 35 |
Weighted average number of diluted common shares outstanding | 1,201 | 1,230 | 1,223 | 1,225 | 1,248 | |
Diluted earnings per common share | $ 2.16 | $ 2.14 | $ 1.88 | $ 4.3 | $ 3.74 | |
[1] | Earnings per share calculations are based on full dollar and share amounts. | |||||
[2] | Certain 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 - Summary
Financial Instruments - Summary of Credit Risk Exposures (Detail) - CAD ($) $ in Millions | Apr. 30, 2022 | Jan. 31, 2022 | Oct. 31, 2021 |
Disclosure of detailed information about financial instruments [line items] | |||
Total | $ 1,177,299 | $ 1,147,632 | $ 1,094,005 |
Non retail [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Drawn | 512,917 | 493,548 | 459,902 |
Undrawn commitments | 120,701 | 118,970 | 117,213 |
Other exposures | 118,282 | 121,331 | 119,923 |
Total | 751,900 | 733,849 | 697,038 |
Retail [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Drawn | 371,078 | 360,789 | 345,947 |
Undrawn commitments | 54,321 | 52,994 | 51,020 |
Total | 425,399 | 413,783 | 396,967 |
AIRB portfolio [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Total | 999,553 | ||
AIRB portfolio [member] | Non retail [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Drawn | 446,169 | ||
Undrawn commitments | 116,895 | ||
Other exposures | 110,511 | ||
Total | 673,575 | ||
AIRB portfolio [member] | Retail [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Drawn | 271,657 | ||
Undrawn commitments | 54,321 | ||
Total | 325,978 | ||
Standardized portfolio [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Total | 177,746 | ||
Standardized portfolio [member] | Non retail [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Drawn | 66,748 | ||
Undrawn commitments | 3,806 | ||
Other exposures | 7,771 | ||
Total | 78,325 | ||
Standardized portfolio [member] | Retail [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Drawn | 99,421 | ||
Total | $ 99,421 | $ 97,000 | $ 91,000 |
Financial Instruments - Additio
Financial Instruments - Additional Information (Detail) - CAD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Apr. 30, 2022 | Jan. 31, 2022 | Oct. 31, 2021 | Apr. 30, 2021 | Apr. 30, 2022 | |
Disclosure of detailed information about financial instruments [line items] | |||||
Credit risk exposure default amount | $ 1,177,299 | $ 1,147,632 | $ 1,094,005 | $ 1,177,299 | |
Decreases (increases) in the Bank's before-tax annual earnings | 39 | 44 | $ 51 | ||
The unrealized foreign currency translation gains | 331 | 329 | $ 336 | ||
Derivative liabilities transferred into Level 3 | 0 | 0 | 0 | ||
Obligations Relating To Short Selling Of Securities [Member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Liabilities transferredout of level two into level one | 624 | 43 | 2,550 | ||
Liabilities transferred out of level one into level two | 361 | 1,171 | 2,235 | ||
Trading assets [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Assets transferred out of level two into level one | 1,191 | 629 | 9,455 | ||
Assets transferred out of level one into level two | 1,306 | 2,034 | 9,972 | ||
Investment Securities [Member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Assets transferred out of level two into level one | 475 | 1,484 | 3,407 | ||
Assets transferred out of level one into level two | 463 | 754 | 13,474 | ||
Standardized portfolio [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Credit risk exposure default amount | 177,746 | 177,746 | |||
AIRB portfolio [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Credit risk exposure default amount | 999,553 | 999,553 | |||
Retail [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Credit risk exposure default amount | 425,399 | 413,783 | 396,967 | 425,399 | |
Retail [member] | Standardized portfolio [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Credit risk exposure default amount | 99,421 | 97,000 | 91,000 | 99,421 | |
Retail [member] | Standardized portfolio [member] | Real estate secured [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Credit risk exposure default amount | 60,000 | $ 59,000 | $ 55,000 | 60,000 | |
Retail [member] | AIRB portfolio [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Credit risk exposure default amount | $ 325,978 | $ 325,978 | |||
Percentage of residential mortgage portfolio insured | 29.00% | 31.00% | 28.00% | ||
Percentage of residential mortgage portfolio uninsured to average loan value | 47.00% | 49.00% | 49.00% | 47.00% | |
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 | Apr. 30, 2022 | Jan. 31, 2022 | Apr. 30, 2021 |
Credit risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | $ 10.2 | $ 14 | $ 10.8 |
Credit spread [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 5.5 | 5.9 | 4.8 |
Interest rate risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 9.6 | 14.1 | 13.9 |
Equity price risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 5.1 | 2.2 | 9.4 |
Currency risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 1.8 | 1.4 | 3 |
Commodity price risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 5.6 | 1.7 | 4.1 |
Debt specific risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 2 | 2 | 2.3 |
Risk diversification effect [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | (12) | (7.4) | (13) |
Bank risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 12.7 | 13.9 | 16.6 |
Bank stressed risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 25.7 | $ 24.7 | $ 37.6 |
Weighted average [member] | Credit risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 10.4 | ||
Weighted average [member] | Credit spread [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 5.7 | ||
Weighted average [member] | Interest rate risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 9.6 | ||
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 | ||
Weighted average [member] | Commodity price risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 2.8 | ||
Weighted average [member] | Debt specific risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 2.1 | ||
Weighted average [member] | Risk diversification effect [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | (9.4) | ||
Weighted average [member] | Bank risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 11.9 | ||
Weighted average [member] | Bank stressed risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 26.4 | ||
Top of range [member] | Credit risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 13.7 | ||
Top of range [member] | Credit spread [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 8.6 | ||
Top of range [member] | Interest rate risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 14.6 | ||
Top of range [member] | Equity price risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 6.8 | ||
Top of range [member] | Currency risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 3.7 | ||
Top of range [member] | Commodity price risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 5.6 | ||
Top of range [member] | Debt specific risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 2.6 | ||
Top of range [member] | Bank risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 15.6 | ||
Top of range [member] | Bank stressed risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 41 | ||
Bottom of range [member] | Credit risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 7.2 | ||
Bottom of range [member] | Credit spread [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 4 | ||
Bottom of range [member] | Interest rate risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 7.8 | ||
Bottom of range [member] | Equity price risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 1.7 | ||
Bottom of range [member] | Currency risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 1.3 | ||
Bottom of range [member] | Commodity price risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 1.3 | ||
Bottom of range [member] | Debt specific risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 1.7 | ||
Bottom of range [member] | Bank risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 7.8 | ||
Bottom of range [member] | Bank stressed risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | $ 16.8 |
Financial Instruments - Fair Va
Financial Instruments - Fair Value of Financial Liabilities Designated at Fair Value Through Profit or Loss and Changes in Fair Value (Detail) - Senior note liabilities [member] - CAD ($) $ in Millions | 3 Months Ended | ||
Apr. 30, 2022 | Jan. 31, 2022 | Apr. 30, 2021 | |
Disclosure of detailed information about financial instruments [line items] | |||
Fair value | $ 21,927 | $ 23,979 | $ 20,406 |
Change in Fair value | 3,913 | 902 | 197 |
Cumulative change in FV | $ 4,108 | $ 195 | $ (350) |
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 | ||
Apr. 30, 2022 | Jan. 31, 2022 | Apr. 30, 2021 | |
Disclosure of detailed information about financial instruments [line items] | |||
Contractual maturity amount | $ 26,035 | $ 24,174 | $ 20,056 |
Carrying value | 21,927 | 23,979 | 20,406 |
Difference between carrying value and contractual maturity amount | 4,108 | 195 | (350) |
Changes in fair value for the period attributable to changes in own credit risk recorded in other comprehensive income | 787 | 231 | (140) |
Cumulative changes in fair value due to changes in own credit risk | $ 289 | $ (498) | $ (777) |
Financial Instruments - Summa_2
Financial Instruments - Summary of Fair Values of Financial Instruments of Bank Using Valuation Methods and Assumption (Detail) - CAD ($) $ in Millions | Apr. 30, 2022 | Jan. 31, 2022 | Oct. 31, 2021 | Jan. 31, 2021 | |
Assets: | |||||
Cash and deposits with financial institutions | [1] | $ 85,910 | $ 99,053 | $ 86,323 | |
Trading assets | 133,644 | 152,947 | 146,312 | ||
Securities purchased under resale agreements and securities borrowed | 148,706 | 132,714 | 127,739 | ||
Derivative financial instruments | 54,608 | 40,655 | 42,302 | ||
Customers' liability under acceptances | 19,043 | 20,901 | 20,404 | ||
Liabilities: | |||||
Deposits | 876,554 | 851,045 | 797,259 | $ 797,259 | |
Financial instruments designated at fair value through profit or loss | 21,927 | 23,979 | 22,493 | ||
Acceptances | 19,070 | 20,934 | 20,441 | ||
Obligations related to securities sold short | 44,620 | 46,133 | 40,954 | ||
Derivative financial instruments | 57,123 | 39,697 | 42,203 | ||
Obligations related to securities sold under repurchase agreements and securities lent | 131,978 | 122,878 | 123,469 | ||
Subordinated debentures | 8,447 | 6,338 | 6,334 | ||
Gross carrying amount [member] | |||||
Assets: | |||||
Cash and deposits with financial institutions | 85,910 | 99,053 | 86,323 | ||
Trading assets | 133,644 | 152,947 | 146,312 | ||
Securities purchased under resale agreements and securities borrowed | 148,706 | 132,714 | 127,739 | ||
Derivative financial instruments | 54,608 | 40,655 | 42,302 | ||
Investment securities - fair value | 83,788 | 64,123 | 57,042 | ||
Investment securities - amortized cost | 16,699 | 17,576 | 18,157 | ||
Loans | 689,702 | 667,338 | 636,986 | ||
Customers' liability under acceptances | 19,043 | 20,901 | 20,404 | ||
Other financial assets | 19,349 | 14,625 | 14,256 | ||
Liabilities: | |||||
Deposits | 876,554 | 851,045 | 797,259 | ||
Financial instruments designated at fair value through profit or loss | 21,927 | 23,979 | 22,493 | ||
Acceptances | 19,070 | 20,934 | 20,441 | ||
Obligations related to securities sold short | 44,620 | 46,133 | 40,954 | ||
Derivative financial instruments | 57,123 | 39,697 | 42,203 | ||
Obligations related to securities sold under repurchase agreements and securities lent | 131,978 | 122,878 | 123,469 | ||
Subordinated debentures | 8,447 | 6,338 | 6,334 | ||
Other financial liabilities | 41,949 | 44,348 | 40,254 | ||
At fair value [member] | |||||
Assets: | |||||
Cash and deposits with financial institutions | 85,910 | 99,053 | 86,323 | ||
Trading assets | 133,644 | 152,947 | 146,312 | ||
Securities purchased under resale agreements and securities borrowed | 148,706 | 132,714 | 127,739 | ||
Derivative financial instruments | 54,608 | 40,655 | 42,302 | ||
Investment securities - fair value | 83,788 | 64,123 | 57,042 | ||
Investment securities - amortized cost | 16,107 | 17,453 | 18,133 | ||
Loans | 684,215 | 666,622 | 641,964 | ||
Customers' liability under acceptances | 19,043 | 20,901 | 20,404 | ||
Other financial assets | 19,349 | 14,625 | 14,256 | ||
Liabilities: | |||||
Deposits | 869,308 | 848,941 | 798,335 | ||
Financial instruments designated at fair value through profit or loss | 21,927 | 23,979 | 22,493 | ||
Acceptances | 19,070 | 20,934 | 20,441 | ||
Obligations related to securities sold short | 44,620 | 46,133 | 40,954 | ||
Derivative financial instruments | 57,123 | 39,697 | 42,203 | ||
Obligations related to securities sold under repurchase agreements and securities lent | 131,978 | 122,878 | 123,469 | ||
Subordinated debentures | 8,360 | 6,666 | 6,733 | ||
Other financial liabilities | $ 41,679 | $ 44,078 | $ 39,802 | ||
[1] | Net of allowances of $0 (January 31, 2022 – $1; October 31, 2021 – $1). |
Financial Instruments - Summa_3
Financial Instruments - Summary of Fair Value Hierarchy of Instruments Carried at Fair Value on a Recurring Basis (Detail) - CAD ($) $ in Millions | Apr. 30, 2022 | Jan. 31, 2022 | Oct. 31, 2021 | Jan. 31, 2021 | ||||
Assets: | ||||||||
Precious metals | $ 1,056 | $ 527 | $ 755 | |||||
Trading assets | ||||||||
Loans | 8,483 | 8,494 | 8,113 | |||||
Securities | 123,413 | 143,021 | 137,148 | |||||
Other | 1,748 | 1,432 | 1,051 | |||||
Derivative financial instruments | ||||||||
Derivative Financial Assets | 54,608 | 40,655 | 42,302 | |||||
Liabilities: | ||||||||
Deposits | 876,554 | 851,045 | 797,259 | $ 797,259 | ||||
Financial liabilities designated at fair value through profit or loss | 21,927 | 23,979 | 22,493 | |||||
Obligations related to securities sold short | 44,620 | 46,133 | 40,954 | |||||
Derivative financial instruments | ||||||||
Derivative Financial Liabilities | 57,123 | 39,697 | 42,203 | |||||
Recurring fair value measurement [member] | IFRS9 [member] | ||||||||
Assets: | ||||||||
Precious metals | 1,056 | 527 | 755 | |||||
Trading assets | ||||||||
Assets | [1] | 133,644 | 152,947 | 146,312 | ||||
Investment securities | ||||||||
Investment securities | [2] | 83,788 | 64,123 | 57,042 | ||||
Derivative financial instruments | ||||||||
Derivative Financial Assets | 54,608 | 40,655 | 42,302 | |||||
Liabilities: | ||||||||
Deposits | 106 | 174 | 175 | |||||
Financial liabilities designated at fair value through profit or loss | 21,927 | 23,979 | 22,493 | |||||
Obligations related to securities sold short | 44,620 | 46,133 | 40,954 | |||||
Derivative financial instruments | ||||||||
Derivative Financial Liabilities | 57,123 | 39,697 | 42,203 | |||||
Recurring fair value measurement [member] | Trading loans [member] | IFRS9 [member] | ||||||||
Trading assets | ||||||||
Loans | [1] | 8,483 | 8,494 | 8,113 | ||||
Recurring fair value measurement [member] | Canadian federal government and government guaranteed debt [member] | IFRS9 [member] | ||||||||
Trading assets | ||||||||
Securities | [1] | 11,346 | 9,854 | 13,114 | ||||
Investment securities | ||||||||
Investment securities | 9,711 | [2] | 8,404 | [2] | 5,804 | [3] | ||
Recurring fair value measurement [member] | Canadian provincial and municipal debt [member] | IFRS9 [member] | ||||||||
Trading assets | ||||||||
Securities | [1] | 8,608 | 8,974 | 9,854 | ||||
Investment securities | ||||||||
Investment securities | 5,201 | [2] | 5,343 | [2] | 5,155 | [3] | ||
Recurring fair value measurement [member] | U.S. treasury and other U.S. agency debt [member] | IFRS9 [member] | ||||||||
Trading assets | ||||||||
Securities | [1] | 7,652 | 9,649 | 6,823 | ||||
Investment securities | ||||||||
Investment securities | 35,534 | [2] | 16,163 | [2] | 13,637 | [3] | ||
Recurring fair value measurement [member] | Other foreign governments debt [member] | IFRS9 [member] | ||||||||
Trading assets | ||||||||
Securities | [1] | 9,182 | 8,218 | 9,688 | ||||
Investment securities | ||||||||
Investment securities | 26,467 | [2] | 28,169 | [2] | 26,689 | [3] | ||
Recurring fair value measurement [member] | Corporate and other debt [member] | IFRS9 [member] | ||||||||
Trading assets | ||||||||
Securities | 11,738 | [1] | 11,722 | [1] | 11,820 | [3] | ||
Investment securities | ||||||||
Investment securities | 1,502 | [2] | 1,201 | [2] | 1,356 | [3] | ||
Recurring fair value measurement [member] | Equity securities [member] | IFRS9 [member] | ||||||||
Trading assets | ||||||||
Securities | [1] | 74,887 | 94,604 | 85,849 | ||||
Investment securities | ||||||||
Investment securities | 5,373 | [2] | 4,843 | [2] | 4,401 | [3] | ||
Recurring fair value measurement [member] | Other trading assets [member] | IFRS9 [member] | ||||||||
Trading assets | ||||||||
Other | [1] | 1,748 | 1,432 | 1,051 | ||||
Recurring fair value measurement [member] | Interest rate contracts [member] | IFRS9 [member] | ||||||||
Derivative financial instruments | ||||||||
Derivative Financial Assets | 9,931 | 12,570 | 13,125 | |||||
Recurring fair value measurement [member] | Foreign exchange and gold contracts [member] | IFRS9 [member] | ||||||||
Derivative financial instruments | ||||||||
Derivative Financial Assets | 26,027 | 16,833 | 18,293 | |||||
Recurring fair value measurement [member] | Equity contracts [member] | IFRS9 [member] | ||||||||
Derivative financial instruments | ||||||||
Derivative Financial Assets | 8,550 | 4,318 | 3,718 | |||||
Recurring fair value measurement [member] | Credit contracts [member] | IFRS9 [member] | ||||||||
Derivative financial instruments | ||||||||
Derivative Financial Assets | 487 | 342 | 245 | |||||
Recurring fair value measurement [member] | Commodity Contracts [member] | IFRS9 [member] | ||||||||
Derivative financial instruments | ||||||||
Derivative Financial Assets | 9,613 | 6,592 | 6,921 | |||||
Recurring fair value measurement [member] | Interest rate contracts [member] | IFRS9 [member] | ||||||||
Derivative financial instruments | ||||||||
Derivative Financial Liabilities | 17,842 | 13,511 | 13,163 | |||||
Recurring fair value measurement [member] | Foreign exchange and gold contracts [member] | IFRS9 [member] | ||||||||
Derivative financial instruments | ||||||||
Derivative Financial Liabilities | 27,261 | 17,374 | 18,171 | |||||
Recurring fair value measurement [member] | Equity contracts [member] | IFRS9 [member] | ||||||||
Derivative financial instruments | ||||||||
Derivative Financial Liabilities | 3,434 | 3,437 | 5,050 | |||||
Recurring fair value measurement [member] | Credit contracts [member] | IFRS9 [member] | ||||||||
Derivative financial instruments | ||||||||
Derivative Financial Liabilities | 27 | 26 | 30 | |||||
Recurring fair value measurement [member] | Commodity Contracts [member] | IFRS9 [member] | ||||||||
Derivative financial instruments | ||||||||
Derivative Financial Liabilities | 8,559 | 5,349 | 5,789 | |||||
Level 1 [member] | Recurring fair value measurement [member] | IFRS9 [member] | ||||||||
Trading assets | ||||||||
Assets | [1] | 96,738 | 116,930 | 110,000 | ||||
Investment securities | ||||||||
Investment securities | 44,121 | [2] | 22,632 | [2] | 17,480 | [3] | ||
Derivative financial instruments | ||||||||
Derivative Financial Assets | 251 | 334 | 184 | |||||
Liabilities: | ||||||||
Obligations related to securities sold short | 38,131 | 38,114 | 35,487 | |||||
Derivative financial instruments | ||||||||
Derivative Financial Liabilities | 524 | 364 | 307 | |||||
Level 1 [member] | Recurring fair value measurement [member] | Canadian federal government and government guaranteed debt [member] | IFRS9 [member] | ||||||||
Trading assets | ||||||||
Securities | [1] | 7,630 | 6,228 | 9,272 | ||||
Investment securities | ||||||||
Investment securities | 5,011 | [2] | 3,992 | [2] | 1,125 | [3] | ||
Level 1 [member] | Recurring fair value measurement [member] | Canadian provincial and municipal debt [member] | IFRS9 [member] | ||||||||
Trading assets | ||||||||
Securities | [1] | 4,000 | 3,935 | 5,556 | ||||
Investment securities | ||||||||
Investment securities | 1,711 | [2] | 1,336 | [2] | 1,937 | [3] | ||
Level 1 [member] | Recurring fair value measurement [member] | U.S. treasury and other U.S. agency debt [member] | IFRS9 [member] | ||||||||
Trading assets | ||||||||
Securities | [1] | 7,552 | 9,601 | 6,760 | ||||
Investment securities | ||||||||
Investment securities | 33,515 | [2] | 13,925 | [2] | 11,462 | [3] | ||
Level 1 [member] | Recurring fair value measurement [member] | Other foreign governments debt [member] | IFRS9 [member] | ||||||||
Trading assets | ||||||||
Securities | [1] | 76 | 159 | 129 | ||||
Investment securities | ||||||||
Investment securities | 189 | [2] | 153 | [2] | 67 | [3] | ||
Level 1 [member] | Recurring fair value measurement [member] | Corporate and other debt [member] | IFRS9 [member] | ||||||||
Trading assets | ||||||||
Securities | [1] | 2,667 | 2,529 | 2,595 | ||||
Investment securities | ||||||||
Investment securities | 36 | [2] | 69 | [2] | 10 | [3] | ||
Level 1 [member] | Recurring fair value measurement [member] | Equity securities [member] | IFRS9 [member] | ||||||||
Trading assets | ||||||||
Securities | [1] | 74,813 | 94,478 | 85,688 | ||||
Investment securities | ||||||||
Investment securities | 3,659 | [2] | 3,157 | [2] | 2,879 | [3] | ||
Level 1 [member] | Recurring fair value measurement [member] | Equity contracts [member] | IFRS9 [member] | ||||||||
Derivative financial instruments | ||||||||
Derivative Financial Assets | 251 | 334 | 184 | |||||
Level 1 [member] | Recurring fair value measurement [member] | Equity contracts [member] | IFRS9 [member] | ||||||||
Derivative financial instruments | ||||||||
Derivative Financial Liabilities | 524 | 364 | 307 | |||||
Level 2 [member] | Recurring fair value measurement [member] | IFRS9 [member] | ||||||||
Assets: | ||||||||
Precious metals | 1,056 | 527 | 755 | |||||
Trading assets | ||||||||
Assets | [1] | 36,902 | 36,012 | 36,271 | ||||
Investment securities | ||||||||
Investment securities | 38,109 | [2] | 39,996 | [2] | 38,214 | [3] | ||
Derivative financial instruments | ||||||||
Derivative Financial Assets | 54,312 | 40,292 | 42,096 | |||||
Liabilities: | ||||||||
Deposits | 106 | 174 | 175 | |||||
Financial liabilities designated at fair value through profit or loss | 21,840 | 23,842 | 22,354 | |||||
Obligations related to securities sold short | 6,487 | 8,017 | 5,467 | |||||
Derivative financial instruments | ||||||||
Derivative Financial Liabilities | 56,580 | 39,304 | 41,875 | |||||
Level 2 [member] | Recurring fair value measurement [member] | Trading loans [member] | IFRS9 [member] | ||||||||
Trading assets | ||||||||
Loans | 8,483 | [4] | 8,494 | [1] | 8,113 | [1] | ||
Level 2 [member] | Recurring fair value measurement [member] | Canadian federal government and government guaranteed debt [member] | IFRS9 [member] | ||||||||
Trading assets | ||||||||
Securities | 3,716 | [1] | 3,626 | [2] | 3,842 | [1] | ||
Investment securities | ||||||||
Investment securities | [2] | 4,700 | 4,412 | 4,679 | ||||
Level 2 [member] | Recurring fair value measurement [member] | Canadian provincial and municipal debt [member] | IFRS9 [member] | ||||||||
Trading assets | ||||||||
Securities | [1] | 4,608 | 5,039 | 4,298 | ||||
Investment securities | ||||||||
Investment securities | 3,490 | [2] | 4,007 | [2] | 3,218 | [3] | ||
Level 2 [member] | Recurring fair value measurement [member] | U.S. treasury and other U.S. agency debt [member] | IFRS9 [member] | ||||||||
Trading assets | ||||||||
Securities | [1] | 100 | 48 | 63 | ||||
Investment securities | ||||||||
Investment securities | 2,019 | [2] | 2,238 | [2] | 2,175 | [3] | ||
Level 2 [member] | Recurring fair value measurement [member] | Other foreign governments debt [member] | IFRS9 [member] | ||||||||
Trading assets | ||||||||
Securities | [1] | 9,106 | 8,059 | 9,559 | ||||
Investment securities | ||||||||
Investment securities | 26,261 | [2] | 27,998 | [2] | 26,605 | [3] | ||
Level 2 [member] | Recurring fair value measurement [member] | Corporate and other debt [member] | IFRS9 [member] | ||||||||
Trading assets | ||||||||
Securities | [1] | 9,070 | 9,191 | 9,185 | ||||
Investment securities | ||||||||
Investment securities | 1,406 | [2] | 1,108 | [2] | 1,319 | [3] | ||
Level 2 [member] | Recurring fair value measurement [member] | Equity securities [member] | IFRS9 [member] | ||||||||
Trading assets | ||||||||
Securities | [1] | 71 | 123 | 160 | ||||
Investment securities | ||||||||
Investment securities | 233 | [2] | 233 | [2] | 218 | [3] | ||
Level 2 [member] | Recurring fair value measurement [member] | Other trading assets [member] | IFRS9 [member] | ||||||||
Trading assets | ||||||||
Other | [1] | 1,748 | 1,432 | 1,051 | ||||
Level 2 [member] | Recurring fair value measurement [member] | Interest rate contracts [member] | IFRS9 [member] | ||||||||
Derivative financial instruments | ||||||||
Derivative Financial Assets | 9,923 | 12,568 | 13,124 | |||||
Level 2 [member] | Recurring fair value measurement [member] | Foreign exchange and gold contracts [member] | IFRS9 [member] | ||||||||
Derivative financial instruments | ||||||||
Derivative Financial Assets | 26,027 | 16,833 | 18,293 | |||||
Level 2 [member] | Recurring fair value measurement [member] | Equity contracts [member] | IFRS9 [member] | ||||||||
Derivative financial instruments | ||||||||
Derivative Financial Assets | 8,273 | 3,964 | 3,513 | |||||
Level 2 [member] | Recurring fair value measurement [member] | Credit contracts [member] | IFRS9 [member] | ||||||||
Derivative financial instruments | ||||||||
Derivative Financial Assets | 487 | 342 | 245 | |||||
Level 2 [member] | Recurring fair value measurement [member] | Commodity Contracts [member] | IFRS9 [member] | ||||||||
Derivative financial instruments | ||||||||
Derivative Financial Assets | 9,602 | 6,585 | 6,921 | |||||
Level 2 [member] | Recurring fair value measurement [member] | Interest rate contracts [member] | IFRS9 [member] | ||||||||
Derivative financial instruments | ||||||||
Derivative Financial Liabilities | 17,835 | 13,494 | 13,148 | |||||
Level 2 [member] | Recurring fair value measurement [member] | Foreign exchange and gold contracts [member] | IFRS9 [member] | ||||||||
Derivative financial instruments | ||||||||
Derivative Financial Liabilities | 27,261 | 17,374 | 18,171 | |||||
Level 2 [member] | Recurring fair value measurement [member] | Equity contracts [member] | IFRS9 [member] | ||||||||
Derivative financial instruments | ||||||||
Derivative Financial Liabilities | 2,904 | 3,069 | 4,737 | |||||
Level 2 [member] | Recurring fair value measurement [member] | Credit contracts [member] | IFRS9 [member] | ||||||||
Derivative financial instruments | ||||||||
Derivative Financial Liabilities | 27 | 26 | 30 | |||||
Level 2 [member] | Recurring fair value measurement [member] | Commodity Contracts [member] | IFRS9 [member] | ||||||||
Derivative financial instruments | ||||||||
Derivative Financial Liabilities | 8,553 | 5,341 | 5,789 | |||||
Level 3 [member] | Recurring fair value measurement [member] | IFRS9 [member] | ||||||||
Trading assets | ||||||||
Assets | [1] | 4 | 5 | 41 | ||||
Investment securities | ||||||||
Investment securities | 1,558 | [2] | 1,495 | [2] | 1,348 | [3] | ||
Derivative financial instruments | ||||||||
Derivative Financial Assets | 45 | 29 | 22 | |||||
Liabilities: | ||||||||
Financial liabilities designated at fair value through profit or loss | 87 | 137 | 139 | |||||
Obligations related to securities sold short | 2 | 2 | ||||||
Derivative financial instruments | ||||||||
Derivative Financial Liabilities | 19 | 29 | 21 | |||||
Level 3 [member] | Recurring fair value measurement [member] | Other foreign governments debt [member] | IFRS9 [member] | ||||||||
Investment securities | ||||||||
Investment securities | 17 | [2] | 18 | [2] | 17 | [3] | ||
Level 3 [member] | Recurring fair value measurement [member] | Corporate and other debt [member] | IFRS9 [member] | ||||||||
Trading assets | ||||||||
Securities | [1] | 1 | 2 | 40 | ||||
Investment securities | ||||||||
Investment securities | 60 | [2] | 24 | [2] | 27 | [3] | ||
Level 3 [member] | Recurring fair value measurement [member] | Equity securities [member] | IFRS9 [member] | ||||||||
Trading assets | ||||||||
Securities | [1] | 3 | 3 | 1 | ||||
Investment securities | ||||||||
Investment securities | 1,481 | [2] | 1,453 | [2] | 1,304 | [3] | ||
Level 3 [member] | Recurring fair value measurement [member] | Interest rate contracts [member] | IFRS9 [member] | ||||||||
Derivative financial instruments | ||||||||
Derivative Financial Assets | 8 | 2 | 1 | |||||
Level 3 [member] | Recurring fair value measurement [member] | Equity contracts [member] | IFRS9 [member] | ||||||||
Derivative financial instruments | ||||||||
Derivative Financial Assets | 26 | 20 | 21 | |||||
Level 3 [member] | Recurring fair value measurement [member] | Commodity Contracts [member] | IFRS9 [member] | ||||||||
Derivative financial instruments | ||||||||
Derivative Financial Assets | 11 | 7 | ||||||
Level 3 [member] | Recurring fair value measurement [member] | Interest rate contracts [member] | IFRS9 [member] | ||||||||
Derivative financial instruments | ||||||||
Derivative Financial Liabilities | 7 | 17 | 15 | |||||
Level 3 [member] | Recurring fair value measurement [member] | Equity contracts [member] | IFRS9 [member] | ||||||||
Derivative financial instruments | ||||||||
Derivative Financial Liabilities | 6 | 4 | $ 6 | |||||
Level 3 [member] | Recurring fair value measurement [member] | Commodity Contracts [member] | IFRS9 [member] | ||||||||
Derivative financial instruments | ||||||||
Derivative Financial Liabilities | $ 6 | $ 8 | ||||||
[1] | The fair value of precious metals is determined based on quoted market prices and forward spot prices, where applicable. | |||||||
[2] | Excludes debt investment securities measured at amortized cost of $16,699 (January 31, 2022 – $17,576). | |||||||
[3] | Excludes debt investment securities measured at amortized cost of $18,157. | |||||||
[4] | The fair value of precious metals is determined based on quoted market prices and forward spot prices, where applicable. |
Financial Instruments - Summa_4
Financial Instruments - Summary of Fair Value Hierarchy of Instruments Carried at Fair Value on a Recurring Basis (Parenthetical) (Detail) - CAD ($) $ in Millions | Apr. 30, 2022 | Jan. 31, 2022 | Oct. 31, 2021 |
Gross carrying amount [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Investment securities measured at amortized cost | $ 16,699 | $ 17,576 | $ 18,157 |
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 | |||||
Apr. 30, 2022 | Jan. 31, 2022 | Oct. 31, 2021 | ||||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | ||||||
Fair value, beginning balance | $ 1,361 | |||||
Gains/(losses) recorded in income | 91 | |||||
Gains/(losses) recorded in OCI | (3) | |||||
Purchases/ Issuances | 96 | |||||
Sales/ Settlements | (103) | |||||
Transfers into/out of Level 3 | 57 | |||||
Fair value, ending balance | 1,499 | $ 1,361 | ||||
Change in unrealized gains/(losses)recorded in income for instruments still held | [1] | 73 | ||||
Derivative financial instruments [member] | ||||||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | ||||||
Fair value, ending balance | 26 | |||||
Fair value, beginning balance | 1 | $ (35) | ||||
Gains/(losses) recorded in income | 10 | (3) | [2] | 4 | [2] | |
Purchases/ Issuances | (12) | |||||
Sales/ Settlements | 51 | |||||
Transfers into/out of Level 3 | 16 | 2 | (7) | |||
Fair value, ending balance | 1 | |||||
Change in unrealized gains/(losses)recorded in income for instruments still held | [1] | 10 | ||||
Trading assets [member] | ||||||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | ||||||
Fair value, beginning balance | 5 | 41 | 4 | |||
Gains/(losses) recorded in income | (2) | (1) | [2] | |||
Purchases/ Issuances | 2 | |||||
Sales/ Settlements | (31) | |||||
Transfers into/out of Level 3 | (1) | |||||
Fair value, ending balance | 4 | 5 | 41 | |||
Change in unrealized gains/(losses)recorded in income for instruments still held | [1] | (2) | ||||
Purchases/ Issuances | 28 | |||||
Transfers into/out of Level 3 | (5) | 10 | ||||
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 | 2 | |||||
Gains/(losses) recorded in income | (2) | |||||
Transfers into/out of Level 3 | 1 | |||||
Fair value, ending balance | 1 | 2 | ||||
Change in unrealized gains/(losses)recorded in income for instruments still held | [1] | (2) | ||||
Trading assets [member] | Equity securities [member] | ||||||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | ||||||
Fair value, beginning balance | 3 | |||||
Purchases/ Issuances | 2 | |||||
Transfers into/out of Level 3 | (2) | |||||
Fair value, ending balance | 3 | 3 | ||||
Investment securities [member] | ||||||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | ||||||
Fair value, beginning balance | 1,495 | 1,348 | 1,190 | |||
Gains/(losses) recorded in income | 58 | 66 | [2] | 83 | [2] | |
Gains/(losses) recorded in OCI | (3) | 5 | 28 | |||
Purchases/ Issuances | 116 | 102 | 78 | |||
Sales/ Settlements | (103) | (30) | (32) | |||
Transfers into/out of Level 3 | (5) | |||||
Fair value, ending balance | 1,558 | 1,495 | 1,348 | |||
Change in unrealized gains/(losses)recorded in income for instruments still held | [1] | 58 | ||||
Transfers into/out of Level 3 | 4 | 1 | ||||
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 | 18 | |||||
Gains/(losses) recorded in OCI | (1) | |||||
Fair value, ending balance | 17 | 18 | ||||
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 | 24 | |||||
Gains/(losses) recorded in OCI | (6) | |||||
Purchases/ Issuances | 42 | |||||
Fair value, ending balance | 60 | 24 | ||||
Investment securities [member] | Equity securities [member] | ||||||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | ||||||
Transfers into/out of Level 3 | (5) | |||||
Investment securities [member] | Equity securities [Member] | ||||||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | ||||||
Fair value, beginning balance | 1,453 | |||||
Gains/(losses) recorded in income | 58 | |||||
Gains/(losses) recorded in OCI | 4 | |||||
Purchases/ Issuances | 74 | |||||
Sales/ Settlements | (103) | |||||
Fair value, ending balance | 1,481 | 1,453 | ||||
Change in unrealized gains/(losses)recorded in income for instruments still held | [1] | 58 | ||||
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 | 2 | |||||
Gains/(losses) recorded in income | 6 | |||||
Fair value, ending balance | 8 | 2 | ||||
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 | 20 | |||||
Gains/(losses) recorded in income | 4 | |||||
Purchases/ Issuances | 1 | |||||
Transfers into/out of Level 3 | 1 | |||||
Fair value, ending balance | 26 | 20 | ||||
Change in unrealized gains/(losses)recorded in income for instruments still held | [1],[3] | 4 | ||||
Derivative Financial Assets [member] | Commodity Contracts [member] | ||||||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | ||||||
Fair value, beginning balance | 7 | |||||
Gains/(losses) recorded in income | 4 | |||||
Fair value, ending balance | 11 | 7 | ||||
Change in unrealized gains/(losses)recorded in income for instruments still held | [1] | 4 | ||||
Obligations Relating To Short Selling Of Securities [Member] | ||||||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | ||||||
Fair value, beginning balance | (2) | |||||
Transfers into/out of Level 3 | (2) | |||||
Fair value, ending balance | (2) | |||||
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 | (17) | |||||
Gains/(losses) recorded in income | (5) | |||||
Transfers into/out of Level 3 | 15 | |||||
Fair value, ending balance | (7) | (17) | ||||
Change in unrealized gains/(losses)recorded in income for instruments still held | [1],[4] | (5) | ||||
Interest rate contracts [member] | Derivative Financial Assets [member] | ||||||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | ||||||
Change in unrealized gains/(losses)recorded in income for instruments still held | [1] | 6 | ||||
Commodity Contracts [member] | Derivative financial liabilities [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 | 2 | |||||
Fair value, ending balance | (6) | (8) | ||||
Change in unrealized gains/(losses)recorded in income for instruments still held | [1] | 2 | ||||
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 | (4) | |||||
Gains/(losses) recorded in income | (1) | |||||
Purchases/ Issuances | (1) | |||||
Fair value, ending balance | (6) | (4) | ||||
Change in unrealized gains/(losses)recorded in income for instruments still held | [1],[3] | (1) | ||||
Financial liabilities at fair value through profit or loss, category [member] | ||||||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | ||||||
Fair value, beginning balance | (137) | (139) | (119) | |||
Gains/(losses) recorded in income | 25 | 2 | [2] | |||
Purchases/ Issuances | (22) | (20) | ||||
Transfers into/out of Level 3 | 47 | |||||
Fair value, ending balance | (87) | (137) | $ (139) | |||
Change in unrealized gains/(losses)recorded in income for instruments still held | [1] | 7 | ||||
Financial liabilities at fair value through profit or loss, category [member] | Obligations Relating To Short Selling Of Securities [Member] | ||||||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | ||||||
Fair value, beginning balance | (2) | |||||
Fair value, ending balance | $ (2) | $ (2) | ||||
[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] | Gains or losses for items in Level 3 may be offset with losses or gains on related hedges in Level 1 or Level 2. | |||||
[3] | Certain unrealized gains and losses on derivative assets and liabilities are largely offset by mark-to-market changes on other instruments included in trading revenues in the Consolidated Statement of Income, since these instruments act as an economic hedge to certain derivative assets and liabilities. | |||||
[4] | Certain unrealized losses on interest rate derivative contracts are largely offset by mark-to-market changes on embedded derivatives on certain deposit liabilities in the Consolidated Statement of Income. |
Corporate Income Taxes- Additio
Corporate Income Taxes- Additional Information (Detail) - CAD ($) $ in Millions | Apr. 07, 2022 | Apr. 30, 2022 | Jan. 31, 2022 | Apr. 30, 2021 | Apr. 30, 2022 | Apr. 30, 2021 | Oct. 31, 2021 | Nov. 30, 2016 |
Disclosure Of Income Taxes [Line Items] | ||||||||
Taxable Income | $ 817 | $ 864 | $ 742 | $ 1,681 | $ 1,444 | |||
Dividend Recovery Tax Rate Period | 5 years | |||||||
2022 Federal Budget Measures [Member] | ||||||||
Disclosure Of Income Taxes [Line Items] | ||||||||
Applicable Income tax rate | 15.00% | |||||||
Taxable Income | $ 1,000 | |||||||
Increase in Tax Rate In Future Earnings | 1.50% | |||||||
2014 and 2015 taxation year [Member] | ||||||||
Disclosure Of Income Taxes [Line Items] | ||||||||
Reassessed tax by Canada Revenue Agency | $ 173 | |||||||
2016 and 2017 taxation year [Member] | ||||||||
Disclosure Of Income Taxes [Line Items] | ||||||||
Reassessed tax by Canada Revenue Agency | $ 297 | |||||||
2011 to 2016 taxation year [member] | ||||||||
Disclosure Of Income Taxes [Line Items] | ||||||||
Reassessed tax by Canada Revenue Agency | $ 1,201 | |||||||
Tax Assessments [Member] | 2016 taxation year [member] | ||||||||
Disclosure Of Income Taxes [Line Items] | ||||||||
Reassessed tax by Canada Revenue Agency | $ 5 | $ 5 |
Acquisition - Additional Inform
Acquisition - Additional Information (Detail) shares in Millions, $ in Millions | Feb. 28, 2022CAD ($) | Feb. 27, 2022CAD ($)shares |
Disclosure of detailed information about business combination [line items] | ||
Payment to acquire non controlling interests in subsidiaries | $ 1,200 | |
Scotia Bank Chile [Member] | ||
Disclosure of detailed information about business combination [line items] | ||
Common shares transferred value | $ 569 | |
Purchase consideration transferred | $ 650 | |
Number of common shares transferred | shares | 7 | |
Bank Of Nova Scotia Chile SA [member] | Major business combination [member] | ||
Disclosure of detailed information about business combination [line items] | ||
Percentage increase in ownership interest in subsidiaries | 16.80% | |
Proportion of ownership interests in subsidiaries | 99.80% |