FY 2021 BALANCED APPROACH BETWEEN INVESTMENT AND COST MANAGEMENT
APPENDIX 14 | OIL & GAS AND PIPELINES SECTOR
O&G Producers and Services Exposure
Gross Loans in $MM and % of Total Loans
$3,956
3.7%
54% reduction in
outstanding loans
Q1 15
O&G and Pipeline sector
Total Gross Loans of $4.3B as at October 31, 2021
$1,807
1.0%
Q4 21
■
☐
O&G producers and services exposure
significantly reduced
-
54% reduction in outstanding loans: down
from $4B in Q1/15 to $1.8B in Q4/21 (vs
$1.9B in Q3/21)
Reduction as a % of total loans: down from
3.7% in Q1/15 to 1.0% in Q4/21
Canadian focused strategy, minimal direct
US exposure
Overall O&G and Pipeline portfolio
refocused from mid-cap to large cap
-
Producers share declined from 82% in
Q1/15 to 37% in Q4/21
53% of the portfolio is Investment Grade
(as of Q4/21)
Very modest indirect exposure to
unsecured retail loans in the oil regions
(~0.1% of total loans)
4%
5%
5%
5%
IG: 100%
IG: 17%
■
9%
IG: 67%
53%
82%
Producers share
declined to 37%
IG: 31%
37%
Q1 15
Q4 21
■ Producers
■Midstream Services
■Refinery & Integrated
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