Financial Performance and Digital Progress Update
Commercial Real Estate
Portfolio comprised of Commercial Real Estate, and Contractor loans which include Engineering & Project Management and Trade Contractors
LOANS OUTSTANDING 1
■Q4/22 Q3/23 Q4/23
23.1
26.6 27.1
Total Portfolio: $67.4Bn
Y/Y: +11%
Q/Q: +2%
14.7 14.7 15.4
11.2
12.7 12.2
4.5 4.4 4.6
2.8 3.2 3.3
4.6 4.7 4.8
Residential/Multi
Family
Industrial
REITS²
Office
Retail
Other³
•
•
HIGHLIGHTS
Limited Q/Q portfolio growth primarily from
Residential and Industrial subsectors with relatively
stable fundamentals, representing 73% of the
portfolio
Geographically diversified across Canada, PAC, US
and other regions, with US exposure largely to
investment grade corporate borrowers
Total exposure to Office subsector was $6.2Bn or 9%
of portfolio (decreased from $6.7Bn or 10% last
quarter), of which ~60% was investment grade
facilities primarily to large, diversified firms
BY GEOGRAPHY
BY SEGMENT
APAC Other
5%
3%
US
12%
Retail
5%
Other³
7%
Office
7%
Q4/23 (in $Bn)
Canada
Office (including REITS)
$3.8
61%
Residential
APAC
0.9
15%
PAC
13%
Q4/23
$67.4Bn
Canada
67%
REITS²
18%
Q4/23
$67.4Bn
/Multi
Family
PAC
0.8
13%
40%
US
0.4
6%
Other
0.3
5%
Total
$6.2
100%
Industrial
23%
1 May not add due to rounding
2 REITs include REITS-Industrial (7%), REITS-Retail (3%), REITS-Office (3%), REITS-Residential (3%) and REITs-Diversified (3%)
3 Other includes Engineering & Project Management and Trade Contractors
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