Q3 2016 Trading Results and Provisions for Credit Losses
Canadian Banking
Net Income ($MM)
977
930
863
837
875
100
877
•
•
•
•
Year-over-Year Highlights
Net income up 8%
Loan growth of 3%
•
Ex. Tangerine run-off portfolio, up 5%
Double digit growth in credit cards and
auto lending
Deposits up 7%
Retail chequing was up 9% and savings
deposits were up 14%
NIM up 13 bps
Higher margin personal lending and
Q3/15 Q4/15
Q1/16
Q2/16
Q3/16
Average Assets ($B)
Gain on sale of a non-core lease financing business
Net Interest Margin (%)
301 304 307 307 310
12 10 9 8
2.38 2.38
2.35
•
2.25 2.26
289 294 298 299 303
Q3/15 Q4/15 Q1/16 Q2/16 Q3/16 Q3/15 Q4/15 Q1/16 Q2/16 Q3/16
Tangerine run-off mortgage portfolio
(1) Attributable to equity holders of the Bank
margin expansion in deposits
•
Impact of acquisition
•
Run-off of low spread Tangerine
mortgages
PCL loss ratio up 6 bps
Expenses up 4% or 2% excluding
acquisition
•
Higher technology, internal investments
and salary increases were partially
offset by benefits realized from cost
reduction initiatives
Strong volume growth
and margin expansion
8
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