Financial Results
Commercial Real Estate
Commercial Real Estate (CRE) portfolio at $69.8B represents 10%
of Total bank Gross Loans & Acceptances (GL&A)
CRE GL&A up 5% Q/Q or 2% excluding impact of the stronger U.S.
dollar
Portfolio is well diversified across businesses, property types and
geographies
Well managed with consistent and conservative underwriting
standards resulting in strong credit quality; investment grade
(57%), with low watchlist (2%) and impaired (0.6%)
Ontario 19%
Other U.S.
22%
CRE by Geography2
British Columbia 13%
Canada &
Others
49%
Quebec 7%
Alberta 5%
Nova Scotia 3%
Other Canada 4
2%
$69.8B
U.S.
51%
California 13%
Texas 6%
CRE diversification by property type ($B)
New York 3%
Canada &
Property Type
U.S.
Total
Arizona 2%
Florida 2%
Illinois 3%
Others
Multi-Residential
10.8
6.8
17.6
Traditional Office
Industrial
5.9
6.9
12.8
Single Family Residence
6.0
3.1
9.1
Medical
Urban
Top 5 Cities
Office1
Office
2.4
5.9
8.3
34%
GL&A
14%
Cities
Retail
3.2
3.8
7.0
($B)
Hospitality, Healthcare & Diversified REITS
0.8
3.5
4.3
Los Angeles, CA
0.42
Mixed Use
3.1
0.6
3.7
$8.3B
Sacramento, CA
0.37
Other³
2.3
4.7
7.0
Total Commercial Real Estate
34.5
35.3
69.8
Bellevue, WA
0.27
Total Gross Loans and Acceptances
384.9
283.5
688.4
New York, NY
0.20
Totals may not add due to rounding
REIT
11%
Suburban Calgary, AB
0.19
1 GL&A in Office has been revised to better align with the sub-property type within the CRE portfolio
2 Based on the location of the collateral or the borrower for REITS
4 Other U.S. and Other Canada includes geographies that are each less than 2% of the total CRE GL&A
BMOM
41%
3 Other includes Commercial Real Estate loans for self-storage, parking, marinas and other minor sub-categories
Risk Review December 1, 2023
30View entire presentation