Canadian Housing Market and Financial Overview
Canadian Banking: Residential Mortgages
High quality, diversified portfolio
• Residential mortgage portfolio of $216 billion: 42% insured; LTV 55% on the uninsured book¹
○ Mortgage business model is "originate to hold"
○ New originations 2 had average LTV of 64% in Q1/19
○ Majority is freehold properties; condominiums represent approximately 13% of the portfolio
• Three distinct distribution channels: All adjudicated under the same standards
o 1. Broker (~59%); 2. Branch (~20%); and 3. Mobile Salesforce (~21%)
CANADIAN MORTGAGE PORTFOLIO: $216B (SPOT BALANCES AS AT Q1/19, $B)
Freehold $188B
Condos $28B
$109.2
42%
Insured
$12.6
$96.6
$39.2
$9.5
$30.8
$3.6
$16.0
$29.8
$27.2
$1.8
$14.2
$11.3
$11.1
$9.5
$0.2
Ontario
BC & Territories
Alberta
Quebec
Atlantic Provinces
% of
50.5%
18.1%
14.3%
7.4%
5.3%
$8.8 - $0.7
Manitoba &
Saskatchewan
4.4%
portfolio
1LTV calculated based on the total outstanding balance secured by the property. Property values indexed using Teranet HPI data
2 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
Total
Portfolio:
$216 billion
58%
Uninsured
Scotiabank® 19View entire presentation