Scotiabank Canadian Legislative Covered Bonds Presentation
Scotiabank's Canadian Residential Mortgage Portfolio
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Mortgage business model is originate to hold
54% of the mortgage portfolio is insured
46% is uninsured and has an average loan-to-value (LTV) of 51%
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New originations¹ has an average LTV of 63% in Q2/17, with Ontario and BC at 62%
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Majority is freehold properties; condominiums represent approximately 12% of the portfolio
The mortgage portfolio is well managed and has good diversification across Canada with
approximately half of the portfolio anchored in Ontario
Canadian Mortgage Portfolio: $197B (spot balances as at Q2/17, $B)
$96.2
10.5
Condominium
$24B
$173B
Freehold
Insured
54% 46%
Uninsured
(avg. LTV = 51% (2))
85.7
$33.4
7.0
$30.5
-$3.7
$15.7
$11.8
-$1.7
26.4
26.8
- $0.2
$9.2
$0.7
14.0
11.6
8.5
Ontario
B.C. & Territories
Alberta
Quebec
Atlantic Provinces
Manitoba &
Saskatchewan
% of
48.9%
17.0%
15.5%
8.0%
6.0%
4.7%
portfolio
(1)
New originations defined as newly originated uninsured residential mortgages and have equity lines of credit, which include mortgages for
purchases, refinances with a request for additional funds and transfer from other financial institutions.
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(2)
(3)
LTV calculated based on the total outstanding balance secured by the property. Property values indexed using Teranet HPI data.
Some figures on bar chart may not add due to rounding.
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