Document and Entity Information
Document and Entity Information | 9 Months Ended |
Jul. 31, 2019 | |
Document and entity information [abstract] | |
Document Type | 6-K |
Amendment Flag | false |
Document Period End Date | Jul. 31, 2019 |
Document Fiscal Year Focus | 2019 |
Document Fiscal Period Focus | Q3 |
Entity Registrant Name | BANK OF NOVA SCOTIA |
Entity Central Index Key | 0000009631 |
Current Fiscal Year End Date | --10-31 |
Consolidated Statement of Finan
Consolidated Statement of Financial Position - CAD ($) $ in Millions | Jul. 31, 2019 | Apr. 30, 2019 | Oct. 31, 2018 | |
Assets | ||||
Cash and deposits with financial institutions | [1] | $ 45,262 | $ 50,121 | $ 62,269 |
Precious metals | 3,572 | 3,543 | 3,191 | |
Trading assets | ||||
Securities | 115,988 | 103,125 | 85,474 | |
Loans | 14,158 | 13,104 | 14,334 | |
Other | 922 | 911 | 454 | |
Total trading assets | 131,068 | 117,140 | 100,262 | |
Financial instruments designated at fair value through profit or loss | 13 | 14 | 12 | |
Securities purchased under resale agreements and securities borrowed | 119,478 | 126,090 | 104,018 | |
Derivative financial instruments | 36,157 | 31,358 | 37,558 | |
Investment securities | 82,592 | 85,146 | 78,396 | |
Loans | ||||
Residential mortgages | 265,170 | 260,586 | 253,357 | |
Personal loans | 98,679 | 97,874 | 96,019 | |
Credit cards | 17,933 | 17,730 | 16,485 | |
Business and government | 212,655 | 212,920 | 191,038 | |
Loans and receivables gross | 594,437 | 589,110 | 556,899 | |
Allowance for credit losses | 5,194 | 5,295 | 5,065 | |
Loans and receivables | 589,243 | 583,815 | 551,834 | |
Other | ||||
Customers' liability under acceptances, net of allowance | 13,923 | 12,823 | 16,329 | |
Property and equipment | 2,634 | 2,722 | 2,684 | |
Investments in associates | 5,496 | 5,303 | 4,850 | |
Goodwill and other intangible assets | 17,612 | 17,825 | 17,719 | |
Deferred tax assets | 1,706 | 2,069 | 1,938 | |
Other assets | 17,984 | 20,200 | 17,433 | |
Other Assets | 59,355 | 60,942 | 60,953 | |
Total assets | 1,066,740 | 1,058,169 | 998,493 | |
Deposits | ||||
Personal | 222,895 | 224,933 | 214,545 | |
Business and government | 456,806 | 443,707 | 422,002 | |
Financial institutions | 42,645 | 43,642 | 39,987 | |
Deposits | 722,346 | 712,282 | 676,534 | |
Financial instruments designated at fair value through profit or loss | 11,536 | 10,919 | 8,188 | |
Other | ||||
Acceptances | 13,932 | 12,833 | 16,338 | |
Obligations related to securities sold short | 25,669 | 29,957 | 32,087 | |
Derivative financial instruments | 37,307 | 33,176 | 37,967 | |
Obligations related to securities sold under repurchase agreements and securities lent | 120,555 | 124,331 | 101,257 | |
Subordinated debentures | 9,021 | 7,554 | 5,698 | |
Other liabilities | 56,243 | 56,870 | 52,744 | |
Other Liabilities | 262,727 | 264,721 | 246,091 | |
Total liabilities | 996,609 | 987,922 | 930,813 | |
Equity | ||||
Retained earnings | 43,682 | 43,056 | 41,414 | |
Accumulated other comprehensive income (loss) | 1,187 | 1,836 | 992 | |
Other reserves | 370 | 395 | 404 | |
Total common equity | 63,534 | 63,571 | 61,044 | |
Total equity attributable to equity holders of the Bank | 67,418 | 67,455 | 65,228 | |
Non-controlling interests in subsidiaries | 2,713 | 2,792 | 2,452 | |
Total equity | 70,131 | 70,247 | 67,680 | |
Total liabilities and equity | 1,066,740 | 1,058,169 | 998,493 | |
Common shares [member] | ||||
Equity | ||||
Common shares | 18,295 | 18,284 | 18,234 | |
Preference shares [member] | ||||
Equity | ||||
Preferred shares and other equity instruments | $ 3,884 | $ 3,884 | $ 4,184 | |
[1] | Net of impairment allowances of $3 (April 30, 2019 - $4; October 31, 2018 - $3). |
Consolidated Statement of Incom
Consolidated Statement of Income - CAD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||||||
Jul. 31, 2019 | [2] | Apr. 30, 2019 | [2] | Jul. 31, 2018 | Jul. 31, 2019 | [2] | Jul. 31, 2018 | ||
Interest income | |||||||||
Loans | [1] | $ 7,490 | $ 7,164 | $ 6,332 | $ 21,745 | $ 18,114 | |||
Securities | [1] | 593 | 567 | 446 | 1,676 | 1,283 | |||
Securities purchased under resale agreements and securities borrowed | [1] | 126 | 140 | 118 | 396 | 317 | |||
Deposits with financial institutions | [1] | 231 | 230 | 235 | 715 | 633 | |||
Interest income | [1] | 8,440 | 8,101 | 7,131 | 24,532 | 20,347 | |||
Interest expense | |||||||||
Deposits | 3,574 | 3,485 | 2,735 | 10,394 | 7,481 | ||||
Subordinated debentures | 77 | 73 | 55 | 211 | 159 | ||||
Other | 415 | 350 | 256 | 1,086 | 736 | ||||
Interest expenses | 4,066 | 3,908 | 3,046 | 11,691 | 8,376 | ||||
Net interest income | 4,374 | 4,193 | 4,085 | 12,841 | 11,971 | ||||
Non-interest income | |||||||||
Card revenues | 240 | 248 | 271 | 732 | 805 | ||||
Banking services fees | 445 | 461 | 404 | 1,339 | 1,232 | ||||
Credit fees | 325 | 322 | 312 | 971 | 883 | ||||
Mutual funds | 472 | 454 | 425 | 1,373 | 1,275 | ||||
Brokerage fees | 217 | 217 | 222 | 650 | 668 | ||||
Investment management and trust | 259 | 271 | 191 | 787 | 523 | ||||
Underwriting and other advisory | 110 | 149 | 145 | 351 | 411 | ||||
Non-trading foreign exchange | 171 | 175 | 158 | 506 | 464 | ||||
Trading revenues | 397 | 386 | 305 | 1,112 | 1,050 | ||||
Net gain on sale of investment securities | 118 | 86 | 35 | 226 | 136 | ||||
Net income from investments in associated corporations | 190 | 170 | 126 | 489 | 390 | ||||
Insurance underwriting income, net of claims | 165 | 169 | 158 | 518 | 517 | ||||
Other fees and commissions | 231 | 245 | 206 | 728 | 613 | ||||
Other | [3] | (55) | 257 | 138 | 443 | 389 | |||
Total non-interest income | 3,285 | 3,610 | 3,096 | 10,225 | 9,356 | ||||
Total revenue | 7,659 | 7,803 | 7,181 | 23,066 | 21,327 | ||||
Provision for credit losses | 713 | 873 | 943 | 2,274 | 2,021 | ||||
Profit from operating activity | 6,946 | 6,930 | 6,238 | 20,792 | 19,306 | ||||
Non-interest expenses | |||||||||
Salaries and employee benefits | 2,138 | 2,026 | 1,879 | 6,328 | 5,483 | ||||
Premises and technology | 697 | 702 | 637 | 2,095 | 1,882 | ||||
Depreciation and amortization | 276 | 258 | 212 | 782 | 615 | ||||
Communications | 113 | 119 | 106 | 341 | 324 | ||||
Advertising and business development | 162 | 150 | 130 | 451 | 399 | ||||
Professional | 197 | 203 | 215 | 618 | 611 | ||||
Business and capital taxes | 130 | 122 | 117 | 389 | 351 | ||||
Other | 496 | 466 | 474 | 1,422 | 1,329 | ||||
Total non-interest expenses | 4,209 | 4,046 | 3,770 | 12,426 | 10,994 | ||||
Income before taxes | 2,737 | 2,884 | 2,468 | 8,366 | 8,312 | ||||
Income tax expense | 753 | 625 | 529 | 1,876 | 1,859 | ||||
Net income | 1,984 | 2,259 | 1,939 | 6,490 | 6,453 | ||||
Net income attributable to non-controlling interests in subsidiaries | 120 | 70 | (44) | 301 | 84 | ||||
Net income attributable to equity holders of the Bank | 1,864 | 2,189 | 1,983 | 6,189 | 6,369 | ||||
Preferred shareholders and other equity instrument holders | 25 | 64 | 27 | 118 | 122 | ||||
Common shareholders | $ 1,839 | $ 2,125 | $ 1,956 | $ 6,071 | $ 6,247 | ||||
Earnings per common share (in dollars) | |||||||||
Basic | $ 1.51 | $ 1.74 | $ 1.60 | $ 4.96 | $ 5.18 | ||||
Diluted | 1.50 | 1.73 | 1.55 | 4.94 | 5.10 | ||||
Dividends paid per common share (in dollars) | $ 0.87 | $ 0.87 | $ 0.82 | $ 2.59 | $ 2.43 | ||||
[1] | Includes interest income on financial assets measured at amortized cost and FVOCI, calculated using the effective interest method, of $8,348 for the three months ended July 31, 2019 (April 30, 2019 - $8,019; July 31, 2018 - $7,080) and for the nine months ended July 31, 2019 - $24,290 (July 31, 2018 - $20,200). | ||||||||
[2] | The amounts for the periods ended July 31, 2019 and April 30, 2019 have been prepared in accordance with IFRS 15; prior period amounts have not been restated (refer to Notes 3 and 4). | ||||||||
[3] | For the periods ended July 31, 2019 and April 30, 2019, includes Net gain/(loss) on divestitures. Refer to Note 22 for further details. |
Consolidated Statement of Inc_2
Consolidated Statement of Income (Parenthetical) - CAD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Jul. 31, 2019 | Apr. 30, 2019 | Jul. 31, 2018 | Jul. 31, 2019 | Jul. 31, 2018 | |
Profit or loss [abstract] | |||||
Interest income calculated using effective interest method | $ 8,348 | $ 8,019 | $ 7,080 | $ 24,290 | $ 20,200 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - CAD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Jul. 31, 2019 | Apr. 30, 2019 | Jul. 31, 2018 | Jul. 31, 2019 | Jul. 31, 2018 | ||||
Statement of comprehensive income [abstract] | ||||||||
Net income | $ 1,984 | [1] | $ 2,259 | [1] | $ 1,939 | $ 6,490 | [1] | $ 6,453 |
Net change in unrealized foreign currency translation gains (losses): | ||||||||
Net unrealized foreign currency translation gains (losses) | (1,093) | 628 | 43 | 340 | 346 | |||
Net gains (losses) on hedges of net investments in foreign operations | 220 | (350) | (203) | (314) | (227) | |||
Income tax expense (benefit): | ||||||||
Net unrealized foreign currency translation gains (losses) | (10) | 5 | (5) | 2 | (4) | |||
Net gains (losses) on hedges of net investments in foreign operations | 58 | (92) | (56) | (82) | (60) | |||
Other comprehensive income on foreign currency translation and hedges of net investments net of tax | (921) | 365 | (99) | 106 | 183 | |||
Net change in fair value due to change in debt instruments measured at fair value through other comprehensive income: | ||||||||
Net gains (losses) in fair value | 412 | 247 | (33) | 1,102 | (449) | |||
Reclassification of net (gains) losses to net income | (366) | (196) | (10) | (933) | 184 | |||
Income tax expense (benefit): | ||||||||
Net gains (losses) in fair value | 104 | 51 | (7) | 280 | (107) | |||
Reclassification of net (gains) losses to net income | (99) | (39) | (2) | (248) | 46 | |||
Other comprehensive income net of tax available for sale financial assets net of tax | 41 | 39 | (34) | 137 | (204) | |||
Net change in gains (losses) on derivative instruments designated as cash flow hedges: | ||||||||
Net gains (losses) on derivative instruments designated as cash flow hedges | (842) | (136) | (801) | (257) | (323) | |||
Reclassification of net (gains) losses to net income | 1,324 | 127 | 643 | 1,077 | (26) | |||
Income tax expense (benefit): | ||||||||
Net gains (losses) on derivative instruments designated as cash flow hedges | (223) | (37) | (212) | (69) | (84) | |||
Reclassification of net (gains) losses to net income | 349 | 34 | 171 | 282 | (7) | |||
Other comprehensive income net of tax cash flow hedges | 356 | (6) | (117) | 607 | (258) | |||
Other comprehensive income (loss) from investments in associates | 25 | 38 | (3) | 82 | 40 | |||
Net change in remeasurement of employee benefit plan asset and liability: | ||||||||
Actuarial gains (losses) on employee benefit plans | (475) | (236) | 212 | (1,171) | 315 | |||
Income tax expense (benefit) | (130) | (54) | 56 | (303) | 88 | |||
Other comprehensive income net of tax actuarial gains (losses) on employee benefit plans | (345) | (182) | 156 | (868) | 227 | |||
Net change in fair value due to change in equity instruments designated at fair value through other comprehensive income: | ||||||||
Net gains (losses) in fair value | 35 | 19 | 29 | 85 | 99 | |||
Income tax expense (benefit) | 8 | 4 | 7 | 20 | 21 | |||
Other comprehensive income net of tax for equity instruments designated at fair value through other comprehensive income | 27 | 15 | 22 | 65 | 78 | |||
Net change in fair value due to change in own credit risk on financial liabilities designated under the fair value option: | ||||||||
Change in fair value due to change in own credit risk on financial liabilities designated under the fair value option | 6 | (43) | 30 | (7) | 16 | |||
Income tax expense (benefit) | 2 | (12) | 9 | (2) | 5 | |||
Other comprehensive income net of tax change in fair value due to change in own credit risk on financial liabilities designated under the fair value option | 4 | (31) | 21 | (5) | 11 | |||
Other comprehensive income (loss) from investments in associates | (3) | (7) | ||||||
Other comprehensive income (loss) | (813) | 238 | (54) | 121 | 70 | |||
Comprehensive income (loss) | 1,171 | 2,497 | 1,885 | 6,611 | 6,523 | |||
Comprehensive income (loss) attributable to non-controlling interests | (44) | 59 | (68) | 227 | 136 | |||
Comprehensive income (loss) attributable to equity holders of the Bank | 1,215 | 2,438 | 1,953 | 6,384 | 6,387 | |||
Preferred shareholders and other equity instrument holders | 25 | 64 | 27 | 118 | 122 | |||
Common shareholders | $ 1,190 | $ 2,374 | $ 1,926 | $ 6,266 | $ 6,265 | |||
[1] | The amounts for the periods ended July 31, 2019 and April 30, 2019 have been prepared in accordance with IFRS 15; prior period amounts have not been restated (refer to Notes 3 and 4). |
Consolidated Statement of Chang
Consolidated Statement of Changes in Equity - CAD ($) $ in Millions | Total | IFRS 15 [member] | IFRS9 [member] | Common shares [member] | Retained earnings [member] | [1] | Retained earnings [member]IFRS 15 [member] | [1] | Retained earnings [member]IFRS9 [member] | [1] | Other reserves [member] | Total common equity [member] | Total common equity [member]IFRS 15 [member] | Total common equity [member]IFRS9 [member] | Preferred shares and other equity instruments [member] | Total common and preferred equity [member] | Total common and preferred equity [member]IFRS 15 [member] | Total common and preferred equity [member]IFRS9 [member] | Non-controlling interests [member] | Non-controlling interests [member]IFRS9 [member] | Foreign currency translation [member]Accumulated other comprehensive income (loss) [member] | Available- for-sale securities [member]Accumulated other comprehensive income (loss) [member] | Available- for-sale securities [member]Accumulated other comprehensive income (loss) [member]IFRS9 [member] | Debt Instruments Fair Value Other Comprehensive Income [member]Accumulated other comprehensive income (loss) [member] | Debt Instruments Fair Value Other Comprehensive Income [member]Accumulated other comprehensive income (loss) [member]IFRS9 [member] | Equity Instruments Fair Value Other Comprehensive Income [member]Accumulated other comprehensive income (loss) [member] | Equity Instruments Fair Value Other Comprehensive Income [member]Accumulated other comprehensive income (loss) [member]IFRS9 [member] | Cash flow hedging reserve [member] | Other [member] | [2] | |||
Beginning Balance (Previously stated [member]) at Oct. 31, 2017 | $ 61,625 | $ 15,644 | $ 38,117 | $ 116 | $ 55,454 | $ 4,579 | $ 60,033 | $ 1,592 | $ 1,861 | $ (46) | $ 235 | $ (473) | |||||||||||||||||||||
Beginning Balance (Increase (decrease) due to changes in accounting policy required by IFRSs [member]) at Oct. 31, 2017 | $ (610) | $ (564) | $ (513) | $ (513) | $ (97) | $ 46 | $ 184 | $ (179) | |||||||||||||||||||||||||
Beginning Balance (Balance After IFRS Adjustments [member]) at Oct. 31, 2017 | 61,015 | 15,644 | 37,553 | 116 | 54,941 | 4,579 | 59,520 | 1,495 | 1,861 | $ 184 | $ (179) | 235 | (473) | ||||||||||||||||||||
Statement [LineItems] | |||||||||||||||||||||||||||||||||
Net income | 6,453 | 6,247 | 6,247 | 122 | 6,369 | 84 | |||||||||||||||||||||||||||
Other comprehensive income (loss) | 70 | 18 | 18 | 52 | 146 | (204) | 69 | (257) | 264 | ||||||||||||||||||||||||
Total comprehensive income | 6,523 | 6,247 | 6,265 | 122 | 6,387 | 136 | 146 | (204) | 69 | (257) | 264 | ||||||||||||||||||||||
Shares issued | 2,675 | 2,692 | (17) | 2,675 | 2,675 | ||||||||||||||||||||||||||||
Shares repurchased/redeemed | (597) | (44) | (208) | (252) | (345) | (597) | |||||||||||||||||||||||||||
Dividends and distributions paid to equity holders | (3,144) | (2,942) | (2,942) | (122) | (3,064) | (80) | |||||||||||||||||||||||||||
Share-based payments | [3] | 6 | 6 | 6 | 6 | ||||||||||||||||||||||||||||
Other | 856 | 2 | 57 | 59 | 59 | 797 | [4] | ||||||||||||||||||||||||||
Ending Balance at Jul. 31, 2018 | 67,334 | 18,292 | 40,652 | 162 | 60,752 | 4,234 | 64,986 | 2,348 | 2,007 | (20) | (110) | (22) | (209) | ||||||||||||||||||||
Beginning Balance (Previously stated [member]) at Oct. 31, 2018 | 67,680 | 18,234 | 41,414 | 404 | 61,044 | 4,184 | 65,228 | 2,452 | 1,441 | (68) | (126) | (121) | (134) | ||||||||||||||||||||
Beginning Balance (Increase (decrease) due to changes in accounting policy required by IFRSs [member]) at Oct. 31, 2018 | [5] | $ (58) | $ (58) | $ (58) | $ (58) | ||||||||||||||||||||||||||||
Beginning Balance (Balance After IFRS Adjustments [member]) at Oct. 31, 2018 | 67,622 | 18,234 | 41,356 | 404 | 60,986 | 4,184 | 65,170 | 2,452 | 1,441 | (68) | (126) | (121) | (134) | ||||||||||||||||||||
Beginning Balance at Oct. 31, 2018 | 67,680 | ||||||||||||||||||||||||||||||||
Statement [LineItems] | |||||||||||||||||||||||||||||||||
Net income | 6,490 | [6] | 6,071 | 6,071 | 118 | 6,189 | 301 | ||||||||||||||||||||||||||
Other comprehensive income (loss) | 121 | 195 | 195 | (74) | 164 | 137 | 41 | 654 | (801) | ||||||||||||||||||||||||
Total comprehensive income | 6,611 | 6,071 | 6,266 | 118 | 6,384 | 227 | 164 | 137 | 41 | 654 | (801) | ||||||||||||||||||||||
Shares issued | 180 | 211 | (31) | 180 | 180 | ||||||||||||||||||||||||||||
Shares repurchased/redeemed | (1,019) | (150) | (569) | (719) | (300) | (1,019) | |||||||||||||||||||||||||||
Dividends and distributions paid to equity holders | (3,415) | (3,166) | (3,166) | (118) | (3,284) | (131) | |||||||||||||||||||||||||||
Share-based payments | [3] | 6 | 6 | 6 | 6 | ||||||||||||||||||||||||||||
Other | 146 | (10) | (9) | (19) | (19) | 165 | [4] | ||||||||||||||||||||||||||
Ending Balance at Jul. 31, 2019 | 70,131 | 18,295 | 43,682 | 370 | 63,534 | 3,884 | 67,418 | 2,713 | 1,605 | 69 | (85) | 533 | (935) | ||||||||||||||||||||
Beginning Balance at Apr. 30, 2019 | 70,247 | ||||||||||||||||||||||||||||||||
Statement [LineItems] | |||||||||||||||||||||||||||||||||
Net income | [6] | 1,984 | |||||||||||||||||||||||||||||||
Other comprehensive income (loss) | (813) | ||||||||||||||||||||||||||||||||
Total comprehensive income | 1,171 | ||||||||||||||||||||||||||||||||
Ending Balance at Jul. 31, 2019 | $ 70,131 | $ 18,295 | $ 43,682 | $ 370 | $ 63,534 | $ 3,884 | $ 67,418 | $ 2,713 | $ 1,605 | $ 69 | $ (85) | $ 533 | $ (935) | ||||||||||||||||||||
[1] | Includes undistributed retained earnings of $62 (July 31, 2018 - $60) related to a foreign associated corporation, which is subject to local regulatory restriction. | ||||||||||||||||||||||||||||||||
[2] | Includes Share from associates, Employee benefits and Own credit risk. | ||||||||||||||||||||||||||||||||
[3] | Represents amounts on account of share-based payments (refer to Note 14). | ||||||||||||||||||||||||||||||||
[4] | Includes changes to non-controlling interests arising from business combinations and related transactions. | ||||||||||||||||||||||||||||||||
[5] | Refer to Note 4 for a summary of the adjustments on initial application of IFRS 15. | ||||||||||||||||||||||||||||||||
[6] | The amounts for the periods ended July 31, 2019 and April 30, 2019 have been prepared in accordance with IFRS 15; prior period amounts have not been restated (refer to Notes 3 and 4). |
Consolidated Statement of Cha_2
Consolidated Statement of Changes in Equity (Parenthetical) - CAD ($) $ in Millions | Jul. 31, 2019 | Jul. 31, 2018 |
Disclosure Of Restatement [abstract] | ||
Undistributed retained earnings | $ 62 | $ 60 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - CAD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2019 | Jul. 31, 2018 | ||||
Cash flows from operating activities | |||||||
Net income | $ 1,984 | [1] | $ 1,939 | $ 6,490 | [1] | $ 6,453 | |
Adjustment for: | |||||||
Net interest income | (4,374) | (4,085) | (12,841) | (11,971) | |||
Depreciation and amortization | 276 | 212 | 782 | 615 | |||
Provision for credit losses | 713 | 943 | 2,274 | 2,021 | |||
Equity-settled share-based payment expense | 1 | 1 | 6 | 6 | |||
Net gain on sale of investment securities | (118) | (35) | (226) | (136) | |||
Net loss on divestitures | [2] | 302 | 129 | ||||
Net income from investments in associated corporations | (190) | (126) | (489) | (390) | |||
Income tax expense | 753 | 529 | 1,876 | 1,859 | |||
Changes in operating assets and liabilities: | |||||||
Trading assets | (16,188) | 7,561 | (31,620) | 7,510 | |||
Securities purchased under resale agreements and securities borrowed | 4,582 | (57) | (15,963) | 11,307 | |||
Loans | (11,567) | (8,680) | (36,406) | (23,686) | |||
Deposits | 18,271 | (1,984) | 45,677 | 14,861 | |||
Obligations related to securities sold short | (3,558) | (1,871) | (6,077) | (3,976) | |||
Obligations related to securities sold under repurchase agreements and securities lent | (1,776) | (9,837) | 19,495 | (14,851) | |||
Net derivative financial instruments | (1,394) | 1,018 | 462 | 779 | |||
Other, net | [2] | 1,434 | (114) | (630) | (1,183) | ||
Dividends received | 137 | 83 | 355 | 242 | |||
Interest received | 8,594 | 7,015 | 24,409 | 20,025 | |||
Interest paid | (4,245) | (2,874) | (11,520) | (8,200) | |||
Income tax paid | [2] | (674) | (598) | (2,273) | (1,779) | ||
Net cash from/(used in) operating activities | [2] | (7,037) | (10,960) | (16,090) | (494) | ||
Cash flows from investing activities | |||||||
Interest-bearing deposits with financial institutions | 5,014 | 11,032 | 19,163 | 8,498 | |||
Purchase of investment securities | (22,724) | (20,824) | (67,536) | (66,526) | |||
Proceeds from sale and maturity of investment securities | 24,735 | 23,072 | 65,110 | 63,231 | |||
Acquisition/sale of subsidiaries, associated corporations or business units, net of cash acquired | (2,405) | (36) | (2,405) | ||||
Property and equipment, net of disposals | 66 | (106) | (38) | (221) | |||
Other, net | (417) | (89) | (431) | (505) | |||
Net cash from/(used in) investing activities | 6,674 | 10,680 | 16,232 | 2,072 | |||
Cash flows from financing activities | |||||||
Proceeds from issue of subordinated debentures | 1,500 | 3,250 | |||||
Redemption/repayment of subordinated debentures | (4) | (18) | (233) | ||||
Redemption of preferred shares | (300) | (345) | |||||
Proceeds from common shares issued | 53 | 1,718 | 211 | 1,814 | |||
Common shares purchased for cancellation | (196) | (74) | (719) | (252) | |||
Cash dividends and distributions paid | (1,087) | (1,038) | (3,284) | (3,064) | |||
Distributions to non-controlling interests | (39) | (23) | (131) | (80) | |||
Other, net | [2] | 1,178 | 291 | 2,336 | 692 | ||
Net cash from/(used in) financing activities | [2] | 1,405 | 874 | 1,345 | (1,468) | ||
Effect of exchange rate changes on cash and cash equivalents | (154) | 18 | 64 | 63 | |||
Net change in cash and cash equivalents | 888 | 612 | 1,551 | 173 | |||
Cash and cash equivalents at beginning of period | [3] | 9,660 | 7,386 | 8,997 | 7,825 | ||
Cash and cash equivalents at end of period | [3] | $ 10,548 | $ 7,998 | $ 10,548 | $ 7,998 | ||
[1] | The amounts for the periods ended July 31, 2019 and April 30, 2019 have been prepared in accordance with IFRS 15; prior period amounts have not been restated (refer to Notes 3 and 4). | ||||||
[2] | Prior periods amounts have been restated to conform with current period presentation. | ||||||
[3] | Represents cash and non-interest-bearing deposits with financial institutions (refer to Note 6). |
Reporting entity
Reporting entity | 9 Months Ended |
Jul. 31, 2019 | |
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Reporting entity | 1. Reporting entity The Bank of Nova Scotia (the Bank) is a chartered bank under the Bank Act (Canada) (the Bank Act). The Bank is a Schedule I Bank under the Bank Act and is regulated by the Office of the Superintendent of Financial Institutions (OSFI). The Bank is a global financial services provider offering a diverse range of products and services, including personal, commercial, corporate and investment banking. The head office of the Bank is located at 1709 Hollis Street, Halifax, Nova Scotia, Canada and its executive offices are at Scotia Plaza, 44 King Street West, Toronto, Canada. The common shares of the Bank are listed on the Toronto Stock Exchange and the New York Stock Exchange. |
Basis of preparation
Basis of preparation | 9 Months Ended |
Jul. 31, 2019 | |
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Basis of preparation | 2. Basis of preparation Statement of compliance These condensed interim consolidated financial statements of the Bank have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) and accounting requirements of OSFI in accordance with Section 308 of the Bank Act. Section 308 states that except as otherwise specified by OSFI, the financial statements are to be prepared in accordance with IFRS. These condensed interim consolidated financial statements were prepared in accordance with International Accounting Standard 34, Interim Financial Reporting The condensed interim consolidated financial statements for the quarter ended July 31, 2019 have been approved by the Board of Directors for issue on August 27, 2019. Certain comparative amounts have been restated to conform with the basis of presentation in the current period. Basis of measurement The condensed interim consolidated financial statements have been prepared on the historical cost basis except for the following material items that are measured at fair value in the Consolidated Statement of Financial Position: • Financial assets and liabilities measured at fair value through profit or loss • Financial assets and liabilities designated at fair value through profit or loss • Derivative financial instruments • Equity instruments designated at fair value through other comprehensive income • Debt instruments measured at fair value through other comprehensive income Functional and presentation currency These condensed interim consolidated financial statements are presented in Canadian dollars, which is the Bank’s functional currency. All financial information presented in Canadian dollars has been rounded to the nearest million unless otherwise stated. Use of estimates and judgments The preparation of financial statements, in conformity with IFRS, requires management to make estimates, apply judgments and make assumptions that affect the reported amount of assets and liabilities at the date of the condensed interim consolidated financial statements, and income and expenses during the reporting period. Estimates made by management are based on historical experience and other assumptions that are believed to be reasonable. Key areas where management has made difficult, complex or subjective judgments, often as a result of matters that are inherently uncertain, include those relating to the allowance for credit losses, the fair value of financial instruments (including derivatives), corporate income taxes, employee benefits, the fair value of all identifiable assets and liabilities as a result of business combinations, impairment of non-financial |
Significant accounting policies
Significant accounting policies | 9 Months Ended |
Jul. 31, 2019 | |
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Significant accounting policies | 3. Significant accounting policies These condensed interim consolidated financial statements should be read in conjunction with the Bank’s audited consolidated financial statements for the year ended October 31, 2018. The significant accounting policies used in the preparation of these condensed interim consolidated financial statements are consistent with those used in the Bank’s audited consolidated financial statements for the year ended October 31, 2018, as described in Note 3 of the Bank’s consolidated financial statements in the 2018 Annual Report, except for changes to the accounting for revenue from contracts with customers as a result of adopting IFRS 15, Revenue from Contracts with Customers Card revenues Banking services fees Mutual funds fees Brokerage fees Investment management and trust fees Underwriting and other advisory fees Other fees and commissions |
Transition to IFRS 15
Transition to IFRS 15 | 9 Months Ended |
Jul. 31, 2019 | |
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Transition to IFRS 15 | 4. Transition to IFRS 15 On November 1, 2018, the Bank adopted IFRS 15, Revenue from Contracts with Customers Revenue The Bank adopted IFRS 15 using the modified retrospective approach and accordingly, comparative periods have not been restated. The Bank recorded a cumulative-effect adjustment to decrease opening retained earnings on November 1, 2018 of $58 million (net of tax). This adjustment relates to certain costs that are no longer eligible for deferral under the new standard and the remeasurement of certain liabilities at fulfilment cost. For the nine months ended July 31, 2019, the impact of IFRS 15 was a decrease in non-interest non-interest non-interest non-interest |
Future accounting developments
Future accounting developments | 9 Months Ended |
Jul. 31, 2019 | |
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Future accounting developments | 5. Future accounting developments There are no significant updates to the future accounting developments disclosed in Note 5 of the Bank’s audited consolidated financial statements in the 2018 Annual Report, other than the following: IFRS 16 – Leases In January 2016, the IASB issued IFRS 16 Leases Leases right-of-use IFRS 16 is effective for the Bank on November 1, 2019. The Bank plans to adopt IFRS 16 by adjusting the Consolidated Statement of Financial Position on the date of adoption with no restatement of comparative periods. IFRS 17 – Insurance Contracts The Bank is required to adopt IFRS 17 Insurance Contracts (“IFRS 17”) on November 1, 2021. The standard will impact the Bank’s Canadian and International insurance businesses. The standard impacts the recognition and measurement of insurance contracts. The IASB issued an exposure draft on June 26, 2019 proposing some amendments to IFRS 17, including a proposal to defer the effective date, by one year, to annual periods on or after January 1, 2022. The Bank is assessing the proposed amendments and will continue to monitor developments related to the standard. |
Cash and deposits with financia
Cash and deposits with financial institutions | 9 Months Ended |
Jul. 31, 2019 | |
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Cash and deposits with financial institutions | 6. Cash and deposits with financial institutions As at ($ millions) July 31 2019 April 30 October 31 Cash and non-interest-bearing $ 10,548 $ 9,660 $ 8,997 Interest-bearing deposits with financial institutions 34,714 40,461 53,272 Total $ 45,262 (1) $ 50,121 (1) $ 62,269 (1) (1) Net of impairment allowances of $3 (April 30, 2019 – $4; October 31, 2018 – $3). The Bank is required to maintain balances with central banks, other regulatory authorities and certain counterparties and these amounted to $10,396 million (April 30, 2019 – $9,755 million; October 31, 2018 – $8,886 million) and are included above. |
Investment securities
Investment securities | 9 Months Ended |
Jul. 31, 2019 | |
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Investment securities | 7. Investment securities The following table presents the carrying amounts of the Bank’s investment securities per measurement category. As at ($ millions) July 31 April 30 October 31 Debt investment securities measured at FVOCI $ 56,197 $ 59,159 $ 55,843 Debt investment securities measured at amortized cost 24,226 23,932 20,743 Equity investment securities designated at FVOCI 1,559 1,500 1,305 Equity investment securities measured at FVTPL 610 555 505 Total investment securities $ 82,592 $ 85,146 $ 78,396 (a) Debt investment securities measured at fair value through other comprehensive income (FVOCI) As at July 31, 2019 ($ millions) Cost Gross Gross Fair Canadian federal government issued or guaranteed debt $ 10,690 $ 198 $ 12 $ 10,876 Canadian provincial and municipal debt 2,894 31 7 2,918 U.S. treasury and other U.S. agency debt 17,880 302 8 18,174 Other foreign government debt 19,950 124 17 20,057 Other debt 4,156 26 10 4,172 Total $ 55,570 $ 681 $ 54 $ 56,197 As at April 30, 2019 ($ millions) Cost Gross Gross Fair Canadian federal government issued or guaranteed debt $ 8,774 $ 147 $ 6 $ 8,915 Canadian provincial and municipal debt 2,995 20 11 3,004 U.S. treasury and other U.S. agency debt 22,546 196 37 22,705 Other foreign government debt 18,806 72 32 18,846 Other debt 5,694 16 21 5,689 Total $ 58,815 $ 451 $ 107 $ 59,159 As at October 31, 2018 ($ millions) Cost Gross Gross Fair Canadian federal government issued or guaranteed debt $ 8,903 $ 38 $ 50 $ 8,891 Canadian provincial and municipal debt 4,403 3 54 4,352 U.S. treasury and other U.S. agency debt 19,298 6 163 19,141 Other foreign government debt 20,022 49 81 19,990 Other debt 3,503 6 40 3,469 Total $ 56,129 $ 102 $ 388 $ 55,843 (b) Debt investment securities measured at amortized cost As at July 31, 2019 April 30, 2019 October 31, 2018 ($ millions) Fair value Carrying (1) Fair value Carrying (1) Fair value Carrying (1) Canadian federal and provincial government issued or guaranteed debt $ 5,278 $ 5,317 $ 5,806 $ 5,859 $ 6,530 $ 6,681 U.S. treasury and other U.S. agency debt 3,726 3,766 4,002 4,074 4,321 4,462 Other foreign government debt 2,487 2,488 2,990 3,006 3,086 3,131 Corporate debt 12,827 12,655 11,022 10,993 6,379 6,469 Total $ 24,318 $ 24,226 $ 23,820 $ 23,932 $ 20,316 $ 20,743 (1) Balances are net of impairment allowances of $1 (April 30, 2019 – nil; October 31, 2018 – $1). (c) Equity investment securities designated as at fair value through other comprehensive income (FVOCI) The Bank has designated certain instruments, shown in the following table, as equity securities FVOCI, as these investments are expected to be held for the long-term for strategic purposes. As at July 31, 2019 ($ millions) Cost Gross Gross Fair Preferred equity instruments $ 145 $ 2 $ 50 $ 97 Common shares 1,280 193 11 1,462 Total $ 1,425 $ 195 $ 61 $ 1,559 As at April 30, 2019 ($ millions) Cost Gross Gross Fair Preferred equity instruments $ 145 $ 2 $ 48 $ 99 Common shares 1,243 172 14 1,401 Total $ 1,388 $ 174 $ 62 $ 1,500 As at October 31, 2018 ($ millions) Cost Gross Gross Fair Preferred equity instruments $ 334 $ – $ 54 $ 280 Common shares 937 126 38 1,025 Total $ 1,271 $ 126 $ 92 $ 1,305 |
Loans, impaired loans and allow
Loans, impaired loans and allowance for credit losses | 9 Months Ended |
Jul. 31, 2019 | |
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Loans, impaired loans and allowance for credit losses | Loans, impaired loans and allowance for credit losses (a) Loans at amortized cost As at July 31, 2019 ($ millions) Gross Allowance for Net Residential mortgages $ 265,170 $ 721 $ 264,449 Personal loans 98,679 2,098 96,581 Credit cards 17,933 1,293 16,640 Business and government 212,655 1,082 211,573 Total $ 594,437 $ 5,194 $ 589,243 As at April 30, 2019 October 31, 2018 ($ millions) Gross Allowance Net Gross Allowance for Net Residential mortgages $ 260,586 $ 734 $ 259,852 $ 253,357 $ 678 $ 252,679 Personal loans 97,874 2,117 95,757 96,019 2,109 93,910 Credit cards 17,730 1,360 16,370 16,485 1,213 15,272 Business and government 212,920 1,084 211,836 191,038 1,065 189,973 Total $ 589,110 $ 5,295 $ 583,815 $ 556,899 $ 5,065 $ 551,834 (b) Impaired loans (1)(2) As at July 31, 2019 ($ millions) Gross Allowance for Net Residential mortgages $ 1,910 $ 364 $ 1,546 Personal loans 1,091 628 463 Credit cards – – – Business and government 2,228 678 1,550 Total $ 5,229 $ 1,670 $ 3,559 By geography: Canada $ 1,078 $ 373 $ 705 United States 97 11 86 Mexico 479 190 289 Peru 638 340 298 Chile 816 192 624 Colombia 546 152 394 Other international 1,575 412 1,163 Total $ 5,229 $ 1,670 $ 3,559 As at April 30, 2019 October 31, 2018 ($ millions) Gross Allowance for Net Gross Allowance for Net Residential mortgages $ 1,922 $ 368 $ 1,554 $ 1,797 $ 360 $ 1,437 Personal loans 1,131 627 504 1,069 644 425 Credit cards – – – – – – Business and government 2,311 674 1,637 2,264 673 1,591 Total $ 5,364 $ 1,669 $ 3,695 $ 5,130 $ 1,677 $ 3,453 By geography: Canada $ 1,078 $ 371 $ 707 $ 999 $ 381 $ 618 United States 129 17 112 80 25 55 Mexico 463 188 275 359 164 195 Peru 639 325 314 581 317 264 Chile 842 172 670 753 158 595 Colombia 578 154 424 619 159 460 Other international 1,635 442 1,193 1,739 473 1,266 Total $ 5,364 $ 1,669 $ 3,695 $ 5,130 $ 1,677 $ 3,453 (1) Interest income recognized on impaired loans during the three months ended July 31, 2019 was $13 (April 30, 2019 – $12; October 31, 2018 – $12). (2) Additional interest income of approximately $98 would have been recorded if the above loans had not been classified as impaired (April 30, 2019 – $100; October 31, 2018 – $93). (c) Allowance for credit losses Key inputs and assumptions The Bank’s allowance calculations are outputs of complex models with a number of underlying assumptions regarding the choice of variable inputs. Some of the key drivers include the following: • Changes in risk ratings of the borrower or instrument reflecting changes in their credit quality; • Changes in the volumes of transactions; • Changes in the forward-looking macroeconomic environment reflected in the variables used in the models such as GDP growth, unemployment rates, commodity prices, and house price indices, which are most closely related with credit losses in the relevant portfolio; • Changes in macroeconomic scenarios and the probability weights assigned to each scenario; and • Borrower migration between the three stages which can result from changes to any of the above inputs and assumptions. Allowance for credit losses ($ millions) Balance as at 2018 Provision for Net write-offs Other, including Balance as at 2019 Residential mortgages $ 678 $ 83 $ (51 ) $ 11 $ 721 Personal loans 2,109 1,109 (1,160 ) 40 2,098 Credit cards 1,213 887 (815 ) 8 1,293 Business and government 1,147 195 (167 ) (24) 1,151 $ 5,147 $ 2,274 $ (2,193 ) $ 35 $ 5,263 Presented as: Allowance for credit losses on loans $ 5,065 $ 5,194 Allowance for credit losses on acceptances (1) 8 8 Allowance for credit losses on off-balance (2) 74 61 (1) Allowance for credit losses on acceptances are recorded against the financial asset in the Consolidated Statement of Financial Position. (2) Allowance for credit losses on off-balance sheet exposures is recorded in other liabilities in the Consolidated Statement of Financial Position. ($ millions) Balance as at 2017 Provision for Net write-offs Other, including Balance as at 2018 Residential mortgages $ 717 $ 102 $ (60 ) $ 4 $ 763 Personal loans 1,879 1,077 (861 ) 41 2,136 Credit cards 1,163 671 (624 ) 49 1,259 Business and government 1,261 181 (171 ) (21 ) 1,250 $ 5,020 $ 2,031 $ (1,716 ) $ 73 $ 5,408 Presented as: Allowance for credit losses on loans $ 4,920 $ 5,323 Allowance for credit losses on acceptances (1) 16 8 Allowance for credit losses on off-balance (2) 84 77 (1) Allowance for credit losses on acceptances are recorded against the financial asset in the Consolidated Statement of Financial Position. (2) Allowance for credit losses on off-balance sheet exposures is recorded in other liabilities in the Consolidated Statement of Financial Position. Allowance for credit losses on loans As at July 31, 2019 ($ millions) Stage 1 Stage 2 Stage 3 Total Residential mortgages $ 127 $ 230 $ 364 $ 721 Personal loans 602 868 628 2,098 Credit cards 443 850 – 1,293 Business and government 159 245 678 1,082 Total (1) $ 1,331 $ 2,193 $ 1,670 $ 5,194 (1) Excludes allowance for credit losses for other financial assets including acceptances, investment securities, deposits with banks and off-balance As at October 31, 2018 ($ millions) Stage 1 Stage 2 Stage 3 Total Residential mortgages $ 112 $ 206 $ 360 $ 678 Personal loans 578 887 644 2,109 Credit cards 401 812 – 1,213 Business and government 132 260 673 1,065 Total (1) $ 1,223 $ 2,165 $ 1,677 $ 5,065 (1) Excludes allowance for credit losses for other financial assets including acceptances, investment securities, deposits with banks and off-balance As at July 31, 2018 ($ millions) Stage 1 Stage 2 Stage 3 Total Residential mortgages $ 156 $ 193 $ 414 $ 763 Personal loans 712 816 608 2,136 Credit cards 471 788 – 1,259 Business and government 154 258 753 1,165 Total (1) $ 1,493 $ 2,055 $ 1,775 $ 5,323 (1) Excludes allowance for credit losses for other financial assets including acceptances, investment securities, deposits with banks and off-balance The following table presents the changes to the allowance for credit losses on loans. As at and for the three months ended As at and for the nine months ended July 31, 2019 April 30, 2019 July 31, 2019 ($ millions) Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Residential mortgages Balance at beginning of period $ 129 $ 237 $ 368 $ 734 $ 121 $ 226 $ 362 $ 709 $ 112 $ 206 $ 360 $ 678 Provision for credit losses Remeasurement (1) (25 ) 1 36 12 (17 ) 7 27 17 (66 ) 16 92 42 Newly originated or purchased financial assets 14 – – 14 12 – – 12 49 – – 49 Derecognition of financial assets and maturities – (2 ) – (2 ) – (2 ) – (2 ) (1 ) (7 ) – (8 ) Changes in models and methodologies – – – – – – – – – – – – Transfer to (from): Stage 1 13 (13 ) – – 15 (13 ) (2 ) – 40 (37 ) (3 ) – Stage 2 (3 ) 25 (22 ) – (3 ) 27 (24 ) – (11 ) 80 (69 ) – Stage 3 – (11 ) 11 – – (10 ) 10 – – (30 ) 30 – Gross write-offs – – (27 ) (27 ) – – (23 ) (23 ) – – (70 ) (70 ) Recoveries – – 6 6 – – 11 11 – – 19 19 Foreign exchange and other movements (1 ) (7 ) (8 ) (16 ) 1 2 7 10 4 2 5 11 Balance at end of period (2) $ 127 $ 230 $ 364 $ 721 $ 129 $ 237 $ 368 $ 734 $ 127 $ 230 $ 364 $ 721 Personal loans Balance at beginning of period $ 609 $ 881 $ 627 $ 2,117 $ 596 $ 875 $ 640 $ 2,111 $ 578 $ 887 $ 644 $ 2,109 Provision for credit losses Remeasurement (1) (157 ) 130 342 315 (155 ) 138 300 283 (464 ) 408 946 890 Newly originated or purchased financial assets 112 – – 112 123 – – 123 353 – – 353 Derecognition of financial assets and maturities (21 ) (26 ) – (47 ) (20 ) (23 ) – (43 ) (60 ) (74 ) – (134 ) Changes in models and methodologies – – – – – – – – – – – – Transfer to (from): Stage 1 121 (118 ) (3 ) – 110 (107 ) (3 ) – 339 (332 ) (7 ) – Stage 2 (50 ) 69 (19 ) – (48 ) 70 (22 ) – (144 ) 205 (61 ) – Stage 3 (1 ) (83 ) 84 – (1 ) (79 ) 80 – (3 ) (241 ) 244 – Gross write-offs – – (459 ) (459 ) – – (438 ) (438 ) – – (1,377 ) (1,377 ) Recoveries – – 75 75 – – 70 70 – – 217 217 Foreign exchange and other movements (11 ) 15 (19 ) (15 ) 4 7 – 11 3 15 22 40 Balance at end of period (2) $ 602 $ 868 $ 628 $ 2,098 $ 609 $ 881 $ 627 $ 2,117 $ 602 $ 868 $ 628 $ 2,098 Credit cards Balance at beginning of period $ 458 $ 902 $ – $ 1,360 $ 410 $ 802 $ – $ 1,212 $ 401 $ 812 $ – $ 1,213 Provision for credit losses Remeasurement (1) (66 ) 84 205 223 (141 ) 220 204 283 (275 ) 412 579 716 Newly originated or purchased financial assets 48 – – 48 171 – – 171 265 – – 265 Derecognition of financial assets and maturities (15 ) (17 ) – (32 ) (15 ) (16 ) – (31 ) (44 ) (50 ) – (94 ) Changes in models and methodologies – – – – – – – – – – – – Transfer to (from): Stage 1 62 (62 ) – – 63 (63 ) – – 194 (194 ) – – Stage 2 (35 ) 35 – – (32 ) 32 – – (99 ) 99 – – Stage 3 – (70 ) 70 – – (71 ) 71 – – (211 ) 211 – Gross write-offs – – (334 ) (334 ) – – (335 ) (335 ) – – (981 ) (981 ) Recoveries – – 56 56 – – 55 55 – – 166 166 Foreign exchange and other movements (9 ) (22 ) 3 (28 ) 2 (2 ) 5 5 1 (18 ) 25 8 Balance at end of period (2) $ 443 $ 850 $ – $ 1,293 $ 458 $ 902 $ – $ 1,360 $ 443 $ 850 $ – $ 1,293 As at and for the three months ended As at and for the nine months ended July 31, 2019 April 30, 2019 July 31, 2019 ($ millions) Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Business and government Balance at beginning of period $ 198 $ 274 $ 675 $ 1,147 $ 197 $ 272 $ 679 $ 1,148 $ 173 $ 291 $ 675 $ 1,139 Provision for credit losses Remeasurement (1) (5 ) 4 75 74 (8 ) 13 64 69 (30 ) 30 208 208 Newly originated or purchased financial assets 50 – – 50 41 – – 41 130 – – 130 Derecognition of financial assets and maturities (40 ) (6 ) (3 ) (49 ) (38 ) (4 ) (8 ) (50 ) (105 ) (18 ) (18 ) (141 ) Changes in models and methodologies (2 ) (2 ) – (4 ) – – – – (2 ) (2 ) – (4 ) Transfer to (from): Stage 1 9 (9 ) – – 7 (7 ) – – 47 (47 ) – – Stage 2 (3 ) 4 (1 ) – (3 ) 3 – – (11 ) 14 (3 ) – Stage 3 – (1 ) 1 – – (3 ) 3 – – (6 ) 6 – Gross write-offs – – (70 ) (70 ) – – (67 ) (67 ) – – (202 ) (202 ) Recoveries – – 8 8 – – 11 11 – – 35 35 Foreign exchange and other movements (4 ) (2 ) (7 ) (13 ) 2 – (7 ) (5 ) 1 – (23 ) (22 ) Balance at end of period including off-balance (2) $ 203 $ 262 $ 678 $ 1,143 $ 198 $ 274 $ 675 $ 1,147 $ 203 $ 262 $ 678 $ 1,143 Less: Allowance for credits losses on off-balance (2) (44 ) (17 ) – (61 ) (41 ) (21 ) (1 ) (63 ) (44 ) (17 ) – (61 ) Balance at end of period (2) $ 159 $ 245 $ 678 $ 1,082 $ 157 $ 253 $ 674 $ 1,084 $ 159 $ 245 $ 678 $ 1,082 (1) Includes credit risk changes as a result of significant increases in credit risk, changes in credit risk that did not result in a transfer between stages, changes in model inputs and assumptions and changes due to drawdowns of undrawn commitments. (2) Interest income on impaired loans for residential mortgages, personal and credit cards, and business and government loans totaled $98 (April 30, 2019 – $100). (3) Includes allowance for credit losses or purchased or originated credit-impaired loans. Refer to Note 8(f). (d) Carrying value of exposures by risk rating Residential mortgages As at July 31, 2019 As at October 31, 2018 Category of PD grades ($ millions) Stage 1 Stage 2 Stage 3 (1) Total Stage 1 Stage 2 Stage 3 (1) Total Very low $ 150,010 $ 442 $ – $ 150,452 $ 146,461 $ 307 $ – $ 146,768 Low 59,090 526 – 59,616 58,154 378 – 58,532 Medium 13,893 1,109 – 15,002 11,689 972 – 12,661 High 1,639 3,211 – 4,850 1,615 3,515 – 5,130 Very high 13 1,766 – 1,779 25 1,779 – 1,804 Loans not graded (2) 27,684 3,877 – 31,561 23,139 3,526 – 26,665 Default – – 1,910 1,910 – – 1,797 1,797 Total $ 252,329 $ 10,931 $ 1,910 $ 265,170 $ 241,083 $ 10,477 $ 1,797 $ 253,357 Allowance for credit losses 127 230 364 721 112 206 360 678 Carrying value $ 252,202 $ 10,701 $ 1,546 $ 264,449 $ 240,971 $ 10,271 $ 1,437 $ 252,679 (1) Stage 3 includes purchased or originated credit impaired loans. (2) Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category. Personal loans As at July 31, 2019 As at October 31, 2018 Category of PD grades ($ millions) Stage 1 Stage 2 Stage 3 (1) Total Stage 1 Stage 2 Stage 3 (1) Total Very low $ 30,218 $ 112 $ – $ 30,330 $ 30,660 $ 66 $ – $ 30,726 Low 26,812 323 – 27,135 26,039 151 – 26,190 Medium 8,604 439 – 9,043 8,315 402 – 8,717 High 6,953 3,650 – 10,603 6,686 3,647 – 10,333 Very high 47 1,513 – 1,560 58 1,362 – 1,420 Loans not graded (2) 16,559 2,358 – 18,917 15,452 2,112 – 17,564 Default – – 1,091 1,091 – – 1,069 1,069 Total $ 89,193 $ 8,395 $ 1,091 $ 98,679 $ 87,210 $ 7,740 $ 1,069 $ 96,019 Allowance for credit losses 602 868 628 2,098 578 887 644 2,109 Carrying value $ 88,591 $ 7,527 $ 463 $ 96,581 $ 86,632 $ 6,853 $ 425 $ 93,910 (1) Stage 3 includes purchased or originated credit impaired loans. (2) Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category. Credit cards As at July 31, 2019 As at October 31, 2018 Category of PD grades ($ millions) Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Very low $ 1,448 $ 11 $ – $ 1,459 $ 1,418 $ 5 $ – $ 1,423 Low 2,516 21 – 2,537 2,436 14 – 2,450 Medium 3,536 58 – 3,594 3,358 71 – 3,429 High 3,267 1,542 – 4,809 2,929 1,455 – 4,384 Very high 41 766 – 807 37 697 – 734 Loans not graded (1) 3,304 1,423 – 4,727 2,906 1,159 – 4,065 Default – – – – – – – – Total $ 14,112 $ 3,821 $ – $ 17,933 $ 13,084 $ 3,401 $ – $ 16,485 Allowance for credit losses 443 850 – 1,293 401 812 – 1,213 Carrying value $ 13,669 $ 2,971 $ – $ 16,640 $ 12,683 $ 2,589 $ – $ 15,272 (1) Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category. Undrawn loan commitments – Retail As at July 31, 2019 As at October 31, 2018 Category of PD grades ($ millions) Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Very low $ 75,936 $ – $ – $ 75,936 $ 72,321 $ – $ – $ 72,321 Low 17,446 1 – 17,447 16,531 2 – 16,533 Medium 6,532 91 – 6,623 6,029 79 – 6,108 High 2,879 722 – 3,601 2,631 670 – 3,301 Very high 24 321 – 345 26 367 – 393 Loans not graded (1) 11,356 2,706 – 14,062 14,774 3,364 – 18,138 Default – – – – – – – – Carrying value $ 114,173 $ 3,841 $ – $ 118,014 $ 112,312 $ 4,482 $ – $ 116,794 (1) Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category. Business and government loans As at July 31, 2019 As at October 31, 2018 Grade ($ millions) Stage 1 Stage 2 Stage 3 (1) Total Stage 1 Stage 2 Stage 3 (1) Total Investment grade $ 102,927 $ 1,136 $ – $ 104,063 $ 87,047 $ 3,770 $ – $ 90,817 Non-investment 94,904 6,474 – 101,378 83,730 9,706 – 93,436 Watch list 71 3,000 – 3,071 130 2,689 – 2,819 Loans not graded (2) 1,907 8 – 1,915 1,050 652 – 1,702 Default – – 2,228 2,228 – – 2,264 2,264 Total $ 199,809 $ 10,618 $ 2,228 $ 212,655 $ 171,957 $ 16,817 $ 2,264 $ 191,038 Allowance for credit losses 159 245 678 1,082 132 260 673 1,065 Carrying value $ 199,650 $ 10,373 $ 1,550 $ 211,573 $ 171,825 $ 16,557 $ 1,591 $ 189,973 (1) Stage 3 includes purchased or originated credit impaired loans. (2) Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category. Undrawn loan commitments – As at July 31, 2019 As at October 31, 2018 Grade ($ millions) Stage 1 Stage 2 Stage 3 (1) Total Stage 1 Stage 2 Stage 3 (1) Total Investment grade $ 173,208 $ 725 $ – $ 173,933 $ 159,880 $ 1,663 $ – $ 161,543 Non-investment 53,280 3,838 – 57,118 56,001 3,445 – 59,446 Watch list 18 939 – 957 81 977 – 1,058 Loans not graded (2) 1,650 148 – 1,798 2,178 28 – 2,206 Default – – 149 149 – – 4 4 Total $ 228,156 $ 5,650 $ 149 $ 233,955 $ 218,140 $ 6,113 $ 4 $ 224,257 Allowance for credit losses 44 17 – 61 41 31 2 74 Carrying value $ 228,112 $ 5,633 $ 149 $ 233,894 $ 218,099 $ 6,082 $ 2 $ 224,183 (1) Stage 3 includes purchased or originated credit impaired loans. (2) Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category. (e) Loans past due but not impaired (1) A loan is considered past due when a counterparty has not made a payment by the contractual due date. The following table presents the carrying value of loans that are contractually past due but not classified as impaired because they are either less than 90 days past due or fully secured and collection efforts are reasonably expected to result in repayment, or restoring it to a current status in accordance with the Bank’s policy. As at July 31, 2019 ($ millions) 31-60 61-90 91 days (2) Total Residential mortgages $ 1,241 $ 548 $ – $ 1,789 Personal loans 606 332 – 938 Credit cards 282 173 409 864 Business and government 180 48 – 228 Total $ 2,309 $ 1,101 $ 409 $ 3,819 As at April 30, 2019 ($ millions) 31-60 61-90 91 days (2) Total Residential mortgages $ 1,285 $ 559 $ – $ 1,844 Personal loans 654 344 – 998 Credit cards 277 187 402 866 Business and government 232 134 – 366 Total $ 2,448 $ 1,224 $ 402 $ 4,074 As at October 31, 2018 ($ millions) 31-60 61-90 91 days (2) Total Residential mortgages $ 1,290 $ 521 $ – $ 1,811 Personal loans 609 322 – 931 Credit cards 231 154 353 738 Business and government 167 40 – 207 Total $ 2,297 $ 1,037 $ 353 $ 3,687 (1) Loans past due 30 days or less are not presented in this analysis as they are not administratively considered past due. (2) All loans that are over 90 days past due are considered impaired with the exception of credit card receivables which are considered impaired when 180 days past due. (f) Purchased credit-impaired loans Certain financial assets including loans are credit-impaired on initial recognition. The following table provides details of such assets: As at ($ millions) July 31 April 30 October 31 Unpaid principal balance (1) $ 500 $ 538 $ 548 Credit related fair value adjustments (134 ) (150 ) (168 ) Carrying value 366 388 380 Stage 3 allowance (8 ) – – Carrying value net related allowance $ 358 $ 388 $ 380 (1) Represents principal amount owed net of write-offs. |
Derecognition of financial asse
Derecognition of financial assets | 9 Months Ended |
Jul. 31, 2019 | |
Text block [abstract] | |
Derecognition of financial assets | 9. Derecognition of financial assets Securitization of residential mortgage loans The Bank securitizes fully insured residential mortgage loans, Bank originated and others, through the creation of mortgage backed securities (MBS) under the National Housing Act (NHA) MBS program, sponsored by Canada Mortgage Housing Corporation (CMHC). MBS created under the program are sold to Canada Housing Trust (the Trust), a government sponsored entity under the Canada Mortgage Bond (CMB) program, and/or to third-party investors. The Trust issues securities to third-party investors. The sale of mortgages under the above program does not meet the derecognition requirements, where the Bank retains the pre-payment The transferred mortgages continue to be recognized on the Consolidated Statement of Financial Position as residential mortgage loans. Cash proceeds from the transfer are treated as secured borrowings and included in Deposits – Business and government on the Consolidated Statement of Financial Position. The following table provides the carrying amount of transferred assets that do not qualify for derecognition and the associated liabilities: As at ($ millions) July 31 (1) April 30 (1) October 31 (1) Assets Carrying value of residential mortgage loans $ 20,765 $ 21,110 $ 20,498 Other related assets (2) 4,193 3,285 2,679 Liabilities Carrying value of associated liabilities $ 22,512 $ 21,994 $ 21,459 (1) The fair value of the transferred assets is $25,364 (April 30, 2019 – $24,723; October 31, 2018 – $23,237) and the fair value of the associated liabilities is $24,683 (April 30, 2019 – $23,822; October 31, 2018 – $22,468) for a net position of $681 (April 30, 2019 – $901; October 31, 2018 – $769). (2) These include cash held in trust and trust permitted investment assets acquired as part of the principal reinvestment account that the Bank is required to maintain in order to participate in the programs. Securitization of personal lines of credit, credit cards and auto loans The Bank securitizes a portion of its unsecured personal lines of credit, credit card and auto loan receivables through consolidated structured entities. These receivables continue to be recognized on the Consolidated Statement of Financial Position as personal and credit cards loans. During the second quarter, the Bank securitized the following receivables: • $1,792 million of the Bank’s Canadian credit card receivables were securitized in February 2019, on a revolving basis through Trillium Credit Card Trust II (Trillium), a Bank-sponsored consolidated structured entity. As at July 31, 2019, US $1,359 million ($1,793 million Canadian dollars) Class A senior notes and Class B and Class C subordinated notes were outstanding and included in Deposits – Business and government on the Consolidated Statement of Financial Position. As at July 31, 2019, assets pledged in relation to these notes were credit card receivables, denominated in Canadian dollars, of $1,936 million. • $896 million of the Bank’s Canadian auto loan receivables were securitized in February 2019, through Securitized Term Auto Receivables Trust 2019-1 2019-1), 2019-1 Securities sold under repurchase agreements and securities lent The Bank enters into transactions, such as repurchase agreements and securities lending agreements, where the Bank transfers assets under agreements to repurchase them on a future date and retains all the substantial risks and rewards associated with the assets. The transferred securities remain on the Consolidated Statement of Financial Position along with the cash collateral received from the counterparty that is classified as deposit liabilities. The following table provides the carrying amount of the transferred assets and the associated liabilities: As at ($ millions) July 31 (1) April 30 (1) October 31 (1) Carrying value of securities associated with: Repurchase agreements (2) $ 107,139 $ 106,895 $ 82,816 Securities lending agreements 48,531 51,554 49,718 Total 155,670 158,449 132,534 Carrying value of associated liabilities (3) $ 120,555 $ 124,331 $ 101,257 (1) The fair value of transferred assets is $155,670 (April 30, 2019 – $158,449; October 31, 2018 – $132,534) and the fair value of the associated liabilities is $120,555 (April 30, 2019 – $124,331; October 31, 2018 – $101,257), for a net position of $35,115 (April 30, 2019 – $34,118; October 31, 2018 –$31,277). (2) Does not include over-collateralization of assets pledged. (3) Liabilities for securities lending arrangements only include amounts related to cash collateral received. In most cases, securities are received as collateral. |
Investments in associates
Investments in associates | 9 Months Ended |
Jul. 31, 2019 | |
Investments accounted for using equity method [abstract] | |
Investments in associates | 10. Investments in associates The Bank had significant investments in the following associates: As at July 31 April 30 October 31 ($ millions) Country of Nature of Ownership Date of financial (1) Carrying Carrying Carrying Thanachart Bank Public Company Limited (2) Thailand Banking 49.00 % July 31, 2019 $ 3,452 $ 3,266 $ 2,961 Canadian Tire’s Financial Services Financial business (CTFS) (3) Canada Services 20.00 % June 30, 2019 519 521 518 Bank of Xi’an Co. Ltd. (4) China Banking 17.99 % June 30, 2019 817 848 772 Maduro & Curiel’s Bank N.V. (5) Curacao Banking 48.10 % June 30, 2019 321 322 304 (1) Represents the date of the most recent financial statements made available to the Bank by the associates’ management. (2) Refer to Note 22 - Acquisitions and Divestitures. (3) Under the agreement Canadian Tire has an option to sell to the Bank up to an additional 29% equity interest within the next 10 years at the then fair value, that can be settled, at the Bank’s discretion, by issuance of common shares or cash. After 10 years, for a period of six months, the Bank has the option to sell its equity interest back to Canadian Tire at the then fair value. (4) Based on the quoted price on the Shanghai Stock Exchange, the Bank’s investment in Bank of Xi’an Co. Ltd. was $1,081 as at July 31, 2019. (5) The local regulator requires financial institutions to set aside reserves for general banking risks. These reserves are not required under IFRS, and represent undistributed retained earnings related to a foreign associated corporation, which are subject to local regulatory restrictions. As of July 31, 2019, these reserves amounted to $62 (April 30, 2019 – $63; October 31, 2018 – $62). |
Deposits
Deposits | 9 Months Ended |
Jul. 31, 2019 | |
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Deposits | 11. Deposits As at July 31, 2019 April 30 October 31 Payable on demand (1) Payable (2) ($ millions) Interest- Non-interest- Payable on a (3) Total Total Total Personal $ 6,567 $ 8,065 $ 123,641 $ 84,622 $ 222,895 $ 224,933 $ 214,545 Business and government 104,319 24,651 39,208 288,628 456,806 443,707 422,002 Financial institutions 5,582 1,062 1,175 34,826 42,645 43,642 39,987 $ 116,468 $ 33,778 $ 164,024 (4) $ 408,076 $ 722,346 $ 712,282 $ 676,534 Recorded in: Canada $ 84,718 $ 16,851 $ 126,951 $ 262,413 $ 490,933 $ 481,177 $ 472,798 United States 19,888 69 6,029 50,276 76,262 73,708 59,938 United Kingdom – – 273 18,001 18,274 18,683 16,847 Mexico 10 4,534 7,335 12,076 23,955 24,487 21,151 Peru 4,857 111 4,476 8,733 18,177 17,955 15,213 Chile 3,166 3,819 147 15,599 22,731 24,790 24,180 Colombia 42 548 4,567 4,690 9,847 9,949 9,543 Other International 3,787 7,846 14,246 36,288 62,167 61,533 56,864 Total (5) $ 116,468 $ 33,778 $ 164,024 $ 408,076 $ 722,346 $ 712,282 $ 676,534 (1) Deposits payable on demand include all deposits for which we do not have the right to notice of withdrawal, generally chequing accounts. (2) Deposits payable after notice include all deposits for which we require notice of withdrawal, generally savings accounts. (3) All deposits that mature on a specified date, generally term deposits, guaranteed investments certificates and similar instruments. (4) Includes $137 (April 30, 2019 – $133; October 31, 2018 – $141) of non-interest-bearing (5) Deposits denominated in U.S. dollars amount to $249,722 (April 30, 2019 – $237,027; October 31, 2018 – $219,195), deposits denominated in Chilean pesos amount to $21,012 (April 30, 2019 – $22,610; October 31, 2018 – $22,731), deposits denominated in Mexican pesos amount to $20,173 (April 30, 2019 – $20,863; October 31, 2018 – $18,341) and deposits denominated in other foreign currencies amount to $83,772 (April 30, 2019 – $84,606; October 31, 2018 – $79,582). The following table presents the maturity schedule for term deposits in Canada greater than $100,000 (1) ($ millions) Within Three to Six to One to Over Total As at July 31, 2019 $ 48,111 $ 24,313 $ 40,746 $ 93,713 $ 13,664 $ 220,547 As at April 30, 2019 $ 46,113 $ 22,925 $ 32,412 $ 99,940 $ 14,948 $ 216,338 As at October 31, 2018 $ 36,670 $ 23,913 $ 42,830 $ 99,734 $ 19,872 $ 223,019 (1) The majority of foreign term deposits are in excess of $100,000. |
Capital and financing transacti
Capital and financing transactions | 9 Months Ended |
Jul. 31, 2019 | |
Text block [abstract] | |
Capital and financing transactions | Capital and financing transactions Subordinated debentures Cancellation During the nine months ended July 31, 2019, the Bank purchased for cancellation approximately US $16 million floating rate subordinated capital debentures due August, 2085. Issuance On July 3, 2019, the Bank issued $1.5 billion subordinated debentures due July 3, 2029. On or after July 3, 2024, the debentures are redeemable at par plus accrued and unpaid interest. Interest will be payable semi-annually at a rate of 2.836% per annum until July 3, 2024 and thereafter payable quarterly until July 3, 2029 at the Three-month Bankers’ Acceptance rate plus 1.18%. The debentures contain non-viability On January 18, 2019, the Bank issued $1.75 billion subordinated debentures due January 18, 2029. On or after January 18, 2024, the debentures are redeemable at par plus accrued and unpaid interest. Interest will be payable semi-annually at a rate of 3.89% per annum until January 18, 2024 and thereafter payable quarterly until January 18, 2029 at the Three-month Bankers’ Acceptance rate plus 1.58%. The debentures contain NVCC provisions necessary for the debentures to qualify as Tier 2 regulatory capital. Additional Tier 1 Securities On June 30, 2019, the 7.802% Scotiabank Tier 1 Securities – Series 2009-1 Preferred shares On January 28, 2019, the Bank redeemed all outstanding Non-Cumulative Common shares Normal Course Issuer Bid On May 30, 2019, the Bank announced that OSFI and the Toronto Stock Exchange have approved a normal course issuer bid (the “2019 NCIB”) pursuant to which it may repurchase for cancellation up to 24 million of the Bank’s common shares. Purchases under the 2019 NCIB commenced on June 4, 2019 and terminate upon earlier of: (i) the Bank purchasing the maximum number of common shares under the 2019 NCIB, (ii) the Bank providing a notice of termination, or (iii) June 3, 2020. On a quarterly basis, the Bank will notify OSFI prior to making purchases. On May 29, 2018, the Bank announced that OSFI and the Toronto Stock Exchange (TSX) approved a normal course issuer bid (the “2018 NCIB”) pursuant to which it may repurchase for cancellation up to 24 million of the Bank’s common shares. This 2018 NCIB terminated on June 3, 2019. During the quarter, the Bank repurchased and cancelled approximately 2.8 million common shares at a volume weighted average price of $70.28 per share for a total amount of $195 million. During the nine months ended July 31, 2019, the Bank repurchased and cancelled approximately 10 million common shares under these plans at a volume weighted average price of $71.66 per share for a total amount of $719 million. Under the 2018 NCIB, which terminated on June 3, 2019, the Bank cumulatively repurchased and cancelled approximately 14.8 million common shares at an average price of $73.46 per share. Under the 2019 NCIB, the Bank has cumulatively repurchased and cancelled approximately 1.2 million common shares at an average price of $70.24 per share. |
Capital management
Capital management | 9 Months Ended |
Jul. 31, 2019 | |
Text block [abstract] | |
Capital management | 13. Capital management The Bank’s regulatory capital and leverage position were as follows: As at ($ millions) July 31 (1) April 30 (1) October 31 (1) Capital Common Equity Tier 1 capital $ 46,565 $ 46,193 $ 44,443 Net Tier 1 capital 51,371 51,709 50,187 Total regulatory capital 61,546 60,855 57,364 Risk-weighted assets/exposures used in calculation of capital ratios CET1 risk-weighted assets (1)(2) $ 417,058 $ 415,212 $ 400,507 Tier 1 risk-weighted assets (1)(2) 417,058 415,212 400,680 Total risk-weighted assets (1)(2) 417,058 415,212 400,853 Leverage exposures 1,211,612 1,204,111 1,119,099 Capital ratios Common Equity Tier 1 capital ratio 11.2 % 11.1 % 11.1 % Tier 1 capital ratio 12.3 % 12.5 % 12.5 % Total capital ratio 14.8 % 14.7 % 14.3 % Leverage ratio 4.2 % 4.3 % 4.5 % (1) In accordance with OSFI’s requirements, effective January 31, 2019, CVA risk-weighted assets have been fully phased-in. (2) As at July 31, 2019, April 30, 2019, and October 31, 2018, the Bank did not have a regulatory capital floor add-on The Bank substantially exceeded the OSFI minimum capital ratios as at July 31, 2019, including the Domestic Stability Buffer requirement. |
Share-based payments
Share-based payments | 9 Months Ended |
Jul. 31, 2019 | |
Text block [abstract] | |
Share-based payments | 14. Share-based payments During the first quarter, the Bank granted 1,548,832 options with an exercise price of $72.28 per option and a weighted average fair value of $5.02 to selected employees, under the terms of the Employee Stock Option Plan. These stock options vest 50% at the end of the third year and 50% at the end of the fourth year. Options granted prior to December 2014 vest evenly over a four-year period. The Bank recorded an increase to equity – other reserves of $1 million and $6 million for the three months and nine months ended July 31, 2019 (July 31, 2018 – $1 million and $6 million) as a result of equity-classified share-based payment expense. |
Employee benefits
Employee benefits | 9 Months Ended |
Jul. 31, 2019 | |
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Employee benefits | 15. Employee benefits Employee benefits include pensions, other post-retirement benefits, and post-employment benefits. The following table summarizes the expenses for the Bank’s principal plans (1) For the three months ended Pension plans Other benefit plans ($ millions) July 31 April 30 July 31 July 31 April 30 July 31 Defined benefit service cost $ 73 $ 71 $ 83 $ (1 ) $ 7 $ 7 Interest on net defined benefit (asset) liability (1 ) 1 2 13 13 11 Other 4 4 3 (7 ) 1 (5 ) Defined benefit expense $ 76 $ 76 $ 88 $ 5 $ 21 $ 13 Defined contribution expense $ 15 $ 15 $ 10 $ 3 n/a n/a Increase (decrease) in other comprehensive income related to employee benefits (2) $ (433 ) $ (219 ) $ 223 $ (42 ) $ (17 ) $ (11 ) For the nine months ended Pension plans Other benefit plans ($ millions) July 31 July 31 July 31 July 31 Defined benefit service cost (3) $ 220 $ 249 $ 13 $ (170 ) Interest on net defined benefit (asset) liability (2 ) 6 39 36 Other 12 9 (5 ) (8 ) Defined benefit expense $ 230 $ 264 $ 47 $ (142 ) Defined contribution expense $ 44 $ 30 $ 3 n/a Increase (decrease) in other comprehensive income related to employee benefits (2) $ (1,047 ) $ 288 $ (124 ) $ 27 (1) Other plans operated by certain subsidiaries of the Bank are not considered material and are not included in this note. (2) Changes in discount rates and return on plan assets are reviewed and updated on a quarterly basis. In the absence of legislated changes, all other assumptions are updated annually. (3) The service cost for other benefit plans includes a decrease of $203 million in the first quarter of fiscal 2018, related to modifications to the Bank’s post-retirement benefits plan. |
Operating segments
Operating segments | 9 Months Ended |
Jul. 31, 2019 | |
Text block [abstract] | |
Operating segments | 16. Operating segments Scotiabank is a diversified financial services institution that provides a wide range of financial products and services to retail, commercial and corporate customers around the world. The Bank’s businesses are grouped into three business lines: Canadian Banking, International Banking and Global Banking and Markets. The results of these business segments are based upon the internal financial reporting systems of the Bank. The accounting policies used in these segments are generally consistent with those followed in the preparation of the consolidated financial statements as disclosed in Note 3 of the Bank’s audited consolidated financial statements in the 2018 Annual Report. Notable accounting measurement differences are: • tax normalization adjustments related to the gross-up • the grossing up of tax-exempt non-interest before-tax non-interest tax-exempt Scotiabank’s results, and average assets and liabilities, allocated by these operating segments, are as follows: For the three months ended July 31, 2019 Taxable equivalent basis ($ millions) Canadian International Global Other (1)(2) Total Net interest income (3) $ 2,120 $ 2,157 $ 337 $ (240 ) $ 4,374 Non-interest (4)(5) 1,412 1,270 747 (144 ) 3,285 Total revenues 3,532 3,427 1,084 (384 ) 7,659 Provision for credit losses 240 476 (4 ) 1 713 Non-interest 1,723 1,780 593 113 4,209 Provision for income taxes 409 269 121 (46 ) 753 Net income $ 1,160 $ 902 $ 374 $ (452 ) $ 1,984 Net income attributable to non-controlling $ – $ 121 $ – $ (1 ) $ 120 Net income attributable to equity holders of the Bank $ 1,160 $ 781 $ 374 $ (451 ) $ 1,864 Represented by: Net income attributable to equity holders of the Bank – relating to divested operations (6) – – – – – Net income attributable to equity holders of the Bank – relating to operations other than divested operations 1,160 781 374 (451 ) 1,864 Average assets ($ billions) $ 365 $ 206 $ 374 $ 116 $ 1,061 Average liabilities ($ billions) $ 285 $ 158 $ 306 $ 242 $ 991 (1) Includes all other smaller operating segments and corporate adjustments, such as the elimination of the tax-exempt gross-up non-interest (2) Net income attributable to equity holders includes Net loss on divestitures of $418 (pre-tax (3) Interest income is reported net of interest expense as management relies primarily on net interest income as a performance measure. (4) Card revenues, Banking services fees, and Investment management and trust fees are mainly earned in Canadian and International Banking. Mutual fund and Brokerage fees are primarily earned in Canadian Banking with the remainder being earned in International Banking. Underwriting and other advisory fees are predominantly earned in Global Banking and Markets. (5) Includes income (on a taxable equivalent basis) from investments in associated corporations for Canadian Banking – $16; International Banking – $182 and Other – $(8). (6) Excludes gain/(loss) recognized on divestitures, which is recorded in the Other segment. Refer to Note 22 for further details. For the three months ended April 30, 2019 Taxable equivalent basis ($ millions) Canadian International Global Other (1)(2) Total Net interest income (3) $ 1,990 $ 2,121 $ 350 $ (268 ) $ 4,193 Non-interest (4)(5) 1,390 1,235 801 184 3,610 Total revenues 3,380 3,356 1,151 (84 ) 7,803 Provision for credit losses 252 628 (6 ) (1 ) 873 Non-interest 1,711 1,710 594 31 4,046 Provision for income taxes 369 249 143 (136 ) 625 Net income $ 1,048 $ 769 $ 420 $ 22 $ 2,259 Net income attributable to non-controlling $ – $ 69 $ – $ 1 $ 70 Net income attributable to equity holders of the Bank $ 1,048 $ 700 $ 420 $ 21 $ 2,189 Represented by: Net income attributable to equity holders of the Bank – relating to divested operations (6) – 8 – – 8 Net income attributable to equity holders of the Bank – relating to operations other than divested operations 1,048 692 420 21 2,181 Average assets ($ billions) $ 358 $ 203 $ 361 $ 117 $ 1,039 Average liabilities ($ billions) $ 281 $ 156 $ 295 $ 238 $ 970 (1) Includes all other smaller operating segments and corporate adjustments, such as the elimination of the tax-exempt gross-up non-interest (2) Net income attributable to equity holders includes Net gain on divestitures of $142 (pre-tax (3) Interest income is reported net of interest expense as management relies primarily on net interest income as a performance measure. (4) Card revenues, Banking services fees, and Investment management and trust fees are mainly earned in Canadian and International Banking. Mutual fund and Brokerage fees are primarily earned in Canadian Banking with the remainder being earned in International Banking. Underwriting and other advisory fees are predominantly earned in Global Banking and Markets. (5) Includes income (on a taxable equivalent basis) from investments in associated corporations for Canadian Banking – $18; International Banking – $210 and Other – $(58). (6) Earnings from pension and related insurance business in the Dominican Republic divested in the current period. Refer to Note 22 for further details. These amounts exclude gain/(loss) recognized on divestitures, which is recorded in the Other segment. For the three months ended July 31, 2018 Taxable equivalent basis ($ millions) Canadian International Global Other (1) Total Net interest income (2) $ 2,024 $ 1,827 $ 365 $ (131 ) $ 4,085 Non-interest (3)(4) 1,349 1,026 745 (24 ) 3,096 Total revenues 3,373 2,853 1,110 (155 ) 7,181 Provision for credit losses 181 771 (10 ) 1 943 Non-interest 1,661 1,510 543 56 3,770 Provision for income taxes 401 97 136 (105 ) 529 Net income $ 1,130 $ 475 $ 441 $ (107 ) $ 1,939 Net income attributable to non-controlling $ – $ (44 ) $ – $ – $ (44 ) Net income attributable to equity holders of the Bank $ 1,130 $ 519 $ 441 $ (107 ) $ 1,983 Represented by: Net income attributable to equity holders of the Bank – relating to divested operations (5) – 5 – – 5 Net income attributable to equity holders of the Bank – relating to operations other than divested operations 1,130 514 441 (107 ) 1,978 Average assets ($ billions) $ 344 $ 164 $ 311 $ 116 $ 935 Average liabilities ($ billions) $ 254 $ 129 $ 258 $ 229 $ 870 (1) Includes all other smaller operating segments and corporate adjustments, such as the elimination of the tax-exempt gross-up non-interest (2) Interest income is reported net of interest expense as management relies primarily on net interest income as a performance measure. (3) Card revenues, Banking services fees, and Investment management and trust fees are mainly earned in Canadian and International Banking. Mutual fund and Brokerage fees are primarily earned in Canadian Banking with the remainder being earned in International Banking. Underwriting and other advisory fees are predominantly earned in Global Banking and Markets. (4) Includes income (on a taxable equivalent basis) from investments in associated corporations for Canadian Banking – $11; International Banking – $153 and Other – $(38). (5) Earnings from pension and related insurance business in the Dominican Republic divested in the second quarter of 2019. Refer to Note 22 for further details. These amounts exclude gain/(loss) recognized on divestitures, which is recorded in the Other segment. For the nine months ended July 31, 2019 Taxable equivalent basis ($ millions) Canadian International Global Other (1)(2) Total Net interest income (3) $ 6,146 $ 6,358 $ 1,059 $ (722) $ 12,841 Non-interest (4)(5) 4,181 3,756 2,251 37 10,225 Total revenues 10,327 10,114 3,310 (685 ) 23,066 Provision for credit losses 725 1,574 (26 ) 1 2,274 Non-interest 5,164 5,232 1,832 198 12,426 Provision for income taxes 1,157 744 375 (400 ) 1,876 Net income $ 3,281 $ 2,564 $ 1,129 $ (484 ) $ 6,490 Net income attributable to non-controlling $ – $ 301 $ – $ – $ 301 Net income attributable to equity holders of the Bank $ 3,281 $ 2,263 $ 1,129 $ (484 ) $ 6,189 Represented by: Net income attributable to equity holders of the Bank – relating to divested operations (6) – 12 – – 12 Net income attributable to equity holders of the Bank – relating to operations other than divested operations 3,281 2,251 1,129 (484 ) 6,177 Average assets ($ billions) $ 360 $ 202 $ 366 $ 116 $ 1,044 Average liabilities ($ billions) $ 280 $ 156 $ 300 $ 239 $ 975 (1) Includes all other smaller operating segments and corporate adjustments, such as the elimination of the tax-exempt gross-up non-interest (2) Net income attributable to equity holders includes Net loss on divestitures of $276 (pre-tax (3) Interest income is reported net of interest expense as management relies primarily on net interest income as a performance measure. (4) Card revenues, Banking services fees, and Investment management and trust fees are mainly earned in Canadian and International Banking. Mutual fund and Brokerage fees are primarily earned in Canadian Banking with the remainder being earned in International Banking. Underwriting and other advisory fees are predominantly earned in Global Banking and Markets. (5) Includes income (on a taxable equivalent basis) from investments in associated corporations for Canadian Banking – $47; International Banking – $553 and Other – $(111). (6) Earnings from pension and related insurance business in the Dominican Republic divested in the second quarter of 2019. Refer to Note 22 for further details. These amounts exclude gain/(loss) recognized on divestitures, which is recorded in the Other segment. For the nine months ended July 31, 2018 Taxable equivalent basis ($ millions) Canadian International Global Other (1) Total Net interest income (2) $ 5,869 $ 5,292 $ 1,117 $ (307 ) $ 11,971 Non-interest (3)(4) 4,038 3,007 2,338 (27 ) 9,356 Total revenues 9,907 8,299 3,455 (334 ) 21,327 Provision for credit losses 596 1,455 (30 ) – 2,021 Non-interest 4,907 4,390 1,680 17 10,994 Provision for income taxes 1,155 509 463 (268 ) 1,859 Net income $ 3,249 $ 1,945 $ 1,342 $ (83 ) $ 6,453 Net income attributable to non-controlling $ – $ 84 $ – $ – $ 84 Net income attributable to equity holders of the Bank $ 3,249 $ 1,861 $ 1,342 $ (83 ) $ 6,369 Represented by: Net income attributable to equity holders of the Bank – relating to divested operations (5) – 25 – – 25 Net income attributable to equity holders of the Bank – relating to operations other than divested operations 3,249 1,836 1,342 (83 ) 6,344 Average assets ($ billions) $ 339 $ 159 $ 322 $ 117 $ 937 Average liabilities ($ billions) $ 250 $ 123 $ 267 $ 234 $ 874 (1) Includes all other smaller operating segments and corporate adjustments, such as the elimination of the tax-exempt gross-up non-interest (2) Interest income is reported net of interest expense as management relies primarily on net interest income as a performance measure. (3) Card revenues, Banking services fees, and Investment management and trust fees are mainly earned in Canadian and International Banking. Mutual fund and Brokerage fees are primarily earned in Canadian Banking with the remainder being earned in International Banking. Underwriting and other advisory fees are predominantly earned in Global Banking and Markets. (4) Includes income (on a taxable equivalent basis) from investments in associated corporations for Canadian Banking – $70; International Banking – $442 and Other – $(122). (5) Earnings from pension and related insurance business in the Dominican Republic divested in the second quarter of 2019. Refer to Note 22 for further details. These amounts exclude gain/(loss) recognized on divestitures, which is recorded in the Other segment. |
Interest income and expense
Interest income and expense | 9 Months Ended |
Jul. 31, 2019 | |
Text block [abstract] | |
Interest income and expense | 17. Interest income and expense For the three months ended For the nine months ended July 31, 2019 April 30, 2019 July 31, 2018 July 31, 2019 July 31, 2018 ($ millions) Interest Interest Interest Interest Interest Interest Interest income Interest Interest Interest Measured at amortized cost (1) $ 7,970 $ 4,055 $ 7,641 $ 3,892 $ 6,781 $ 3,004 $ 23,181 $ 11,658 $ 19,335 $ 8,289 Measured at FVOCI (1) 378 – 378 – 299 – 1,109 – 865 – 8,348 4,055 8,019 3,892 7,080 3,004 24,290 11,658 20,200 8,289 Other (2) 92 11 82 16 51 42 242 33 147 87 Total $ 8,440 $ 4,066 $ 8,101 $ 3,908 $ 7,131 $ 3,046 $ 24,532 $ 11,691 $ 20,347 $ 8,376 (1) The interest income/expense on financial assets/liabilities are calculated using the effective interest method. (2) Includes dividend income on equity securities designated at FVOCI. |
Trading revenues
Trading revenues | 9 Months Ended |
Jul. 31, 2019 | |
Text block [abstract] | |
Trading revenues | 18. Trading revenues The following table presents details of trading revenues. For the three months ended For the nine months ended ($ millions) July 31 April 30 July 31 July 31 July 31 Interest rate and credit $ 45 $ 81 $ 72 $ 133 $ 232 Equities 124 123 58 370 310 Commodities 57 45 50 170 185 Foreign exchange 64 59 72 207 223 Other 107 78 53 232 100 Total $ 397 $ 386 $ 305 $ 1,112 $ 1,050 |
Earnings per share
Earnings per share | 9 Months Ended |
Jul. 31, 2019 | |
Text block [abstract] | |
Earnings per share | 19. Earnings per share For the three months ended For the nine months ended ($ millions) July 31 April 30 July 31 July 31 July 31 Basic earnings per common share Net income attributable to common shareholders $ 1,839 $ 2,125 $ 1,956 $ 6,071 $ 6,247 Weighted average number of common shares outstanding (millions) 1,221 1,224 1,223 1,224 1,207 Basic earnings per common share (1) (in dollars) $ 1.51 $ 1.74 $ 1.60 $ 4.96 $ 5.18 Diluted earnings per common share Net income attributable to common shareholders $ 1,839 $ 2,125 $ 1,956 $ 6,071 $ 6,247 Dilutive impact of share-based payment options and others (2) 40 37 (39 ) 121 (5 ) Net income attributable to common shareholders (diluted) $ 1,879 $ 2,162 $ 1,917 $ 6,192 $ 6,242 Weighted average number of common shares outstanding (millions) 1,221 1,224 1,223 1,224 1,207 Dilutive impact of share-based payment options and others (2) (millions) 30 28 17 29 16 Weighted average number of diluted common shares outstanding (millions) 1,251 1,252 1,240 1,253 1,223 Diluted earnings per common share (1) (in dollars) $ 1.50 $ 1.73 $ 1.55 $ 4.94 $ 5.10 (1) Earnings per share calculations are based on full dollar and share amounts. (2) Certain tandem stock appreciation rights or options as well as acquisition-related put/call options that the Bank may settle at its own discretion by issuing common shares were not included in the calculation of diluted earnings per share as they were anti-dilutive. |
Financial instruments
Financial instruments | 9 Months Ended |
Jul. 31, 2019 | |
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Financial instruments | Financial instruments (a) Risk management The Bank’s principal business activities result in a balance sheet that consists primarily of financial instruments. In addition, the Bank uses derivative financial instruments for both trading and hedging purposes. The principal financial risks that arise from transacting financial instruments include credit risk, liquidity risk and market risk. The Bank’s framework to monitor, evaluate and manage these risks is consistent with that in place as at October 31, 2018. (i) Credit risk Credit risk is the risk of loss resulting from the failure of a borrower or counterparty to honour its financial or contractual obligations to the Bank. Credit risk exposures disclosed below are presented based on the Basel framework utilized by the Bank. The Bank uses the Advanced Internal Ratings-Based approach (AIRB) for all material Canadian, U.S. and European portfolios, and for a significant portion of the international corporate and commercial portfolios. The remaining portfolios, including other international portfolios, are treated under the standardized approach. Under the AIRB approach, the Bank uses internal risk parameter estimates, based on historical experience. Under the standardized approach, credit risk is estimated using the risk weights as prescribed by the Basel framework, either based on credit assessments by external rating agencies or based on the counterparty type for non-retail Exposure at default (1) As at July 31, 2019 April 30 October 31 ($ millions) AIRB Standardized Total Total Total By exposure sub-type Non-retail Drawn (2)(3) $ 364,762 $ 62,734 $ 427,496 $ 434,552 $ 425,009 Undrawn commitments 92,883 3,938 96,821 96,803 92,303 Other exposures (4) 93,538 10,595 104,133 107,021 105,232 Total non-retail $ 551,183 $ 77,267 $ 628,450 $ 638,376 $ 622,544 Retail Drawn (5) $ 203,445 $ 93,647 $ 297,092 $ 289,269 $ 278,605 Undrawn commitments 49,735 – 49,735 48,371 48,085 Total retail $ 253,180 $ 93,647 $ 346,827 $ 337,640 $ 326,690 Total $ 804,363 $ 170,914 $ 975,277 $ 976,016 $ 949,234 (1) After credit risk mitigation and excludes equity securities and other assets. (2) Non-retail (3) Non-retail (4) Includes off-balance over-the-counter (5) Retail drawn includes residential mortgages, credit cards, lines of credit and other personal loans. Credit quality of non-retail The Bank’s non-retail Credit quality of retail exposures The Bank’s retail portfolios consist of a number of relatively small loans to a large number of borrowers. The portfolios are distributed across Canada and a wide range of countries. As such, the portfolios inherently have a high degree of diversification. In addition, as of July 31, 2019, 40% (April 30, 2019 – 42%; October 31, 2018 – 43%) of the Canadian residential mortgage portfolio is insured. The average loan-to-value Retail standardized portfolio The retail standardized portfolio of $94 billion as at July 31, 2019 (April 30, 2019 – $94 billion; October 31, 2018 – $87 billion), was comprised of residential mortgages, personal loans, credit cards and lines of credit to individuals, mainly in Latin America and the Caribbean. Of the total retail standardized exposures, $48 billion (April 30, 2019 – $49 billion; October 31, 2018 – $45 billion) was represented by mortgages and loans secured by residential real estate, mostly with a loan-to-value (ii) Liquidity risk Liquidity risk is the risk that the Bank is unable to meet its financial obligations in a timely manner at reasonable prices. The Bank’s liquidity risk is subject to extensive risk management controls and is managed within the framework of policies and limits approved by the Board. The Board receives reports on risk exposures and performance against approved limits. The Asset/Liability Committee (ALCO) provides senior management oversight of liquidity risk. The key elements of the Bank’s liquidity risk management framework include: • liquidity risk measurement and management limits, including limits on maximum net cash outflow by currency over specified short-term horizons; • prudent diversification of its wholesale funding activities by using a number of different funding programs to access the global financial markets and manage its maturity profile, as appropriate; • large holdings of liquid assets to support its operations, which can generally be sold or pledged to meet the Bank’s obligations; • liquidity stress testing, including Bank-specific, global-systemic, and combination systemic/specific scenarios; and • liquidity contingency planning. The Bank’s foreign operations have liquidity management frameworks that are similar to the Bank’s framework. Local deposits are managed from a liquidity risk perspective based on the local management frameworks and regulatory requirements. (iii) Market risk Market risk arises from changes in market prices and rates (including interest rates, credit spreads, equity prices, foreign exchange rates and commodity prices), the correlations among them, and their levels of volatility. Interest rate risk Interest rate risk is the risk of loss due to the following: changes in the level, slope and curvature of the yield curve; the volatility of interest rates and changes in customers’ preferences (e.g. mortgage prepayment rates). Non-trading Foreign currency risk is the risk of loss due to changes in spot and forward rates. As at July 31, 2019, a one per cent increase (decrease) in the Canadian dollar against all currencies in which the Bank operates decreases (increases) the Bank’s before-tax A similar change in the Canadian dollar as at July 31, 2019, would decrease (increase) the unrealized foreign currency translation gains in the accumulated other comprehensive income section of shareholders’ equity by approximately $382 million (April 30, 2019 – $386 million; July 31, 2018 – $371 million), net of hedging. Non-trading Equity risk is the risk of loss due to adverse movements in equity prices. The Bank is exposed to equity risk through its investment equity portfolios. The fair value of investment equity securities is shown in Note 7. Trading portfolio risk management The table below shows the Bank’s VaR by risk factor along with Stressed VaR: For the three months ended As at As at July 31, 2019 July 31 2019 April 30 2019 July 31 2018 ($ millions) Average High Low Credit spread plus interest rate $ 9.8 $ 14.4 $ 7.7 $ 8.9 $ 8.5 $ 7.7 Credit spread 8.1 10.6 5.3 8.7 6.2 6.8 Interest rate 7.2 10.3 5.1 6.3 6.5 7.8 Equities 3.5 7.8 1.0 2.7 4.1 2.7 Foreign exchange 4.0 6.0 2.5 4.2 3.1 3.4 Commodities 2.4 3.5 1.3 3.3 2.6 1.6 Debt specific 3.8 4.8 2.0 3.3 3.7 3.4 Diversification effect (11.6 ) n/a n/a (11.3 ) (12.0 ) (7.3 ) Total VaR $ 11.9 $ 15.7 $ 9.2 $ 11.1 $ 10.0 $ 11.5 Total Stressed VaR $ 37.3 $ 48.9 $ 26.7 $ 27.3 $ 32.0 $ 41.0 (iv) Operational risk Operational risk is the risk of loss, whether direct or indirect, to which the Bank is exposed due to inadequate or failed internal processes or systems, human error, or external events. Operational risk includes legal and regulatory risk, business process and change risk, fiduciary or disclosure breaches, cyber risks, technology failure, financial crime and environmental risk. It exists in some form in every Bank business and function. Operational risk can not only result in financial loss, but also regulatory sanctions and damage to the Bank’s reputation. The Bank has developed policies, processes and assessment methodologies to ensure that operational risk is appropriately identified and managed with effective controls. (b) Financial instruments designated at fair value through profit or loss In accordance with its risk management strategy, the Bank has elected to designate certain investments and senior note liabilities at fair value through profit or loss to reduce an accounting mismatch between fair value changes in these instruments and fair value changes in related derivatives, and where a hybrid financial liability contains one or more embedded derivatives that are not closely related to the host contract. Changes in fair value of financial liabilities arising from the Bank’s own credit risk are recognized in other comprehensive income, without subsequent reclassification to net income. The cumulative fair value adjustment due to own credit risk is determined at a point in time by comparing the present value of expected future cash flows over the term of these liabilities discounted at the Bank’s effective funding rate, and the present value of expected future cash flows discounted under a benchmark rate. The following table presents the fair value of assets and liabilities designated at fair value through profit or loss and their changes in fair value. Fair value Change in fair value Cumulative change in fair value (1) As at For the three months ended As at ($ millions) July 31 April 30 July 31 July 31 April 30 July 31 July 31 April 30 July 31 Assets Investment securities (2) $ 13 $ 14 $ 15 $ – $ – $ – $ – $ – $ – Liabilities Senior note liabilities (3) $ 11,536 $ 10,919 $ 7,652 $ (18) $ (774) $ (99) $ (190) $ (172) $ 94 (1) The cumulative change in fair value is measured from the instruments’ date of initial recognition. (2) Changes in fair value are recorded in non-interest (3) Changes in fair value attributable to changes in the Bank’s own credit risk are recorded in other comprehensive income. Other changes in fair value are recorded in non-interest The following table presents the changes in fair value attributable to changes in the Bank’s own credit risk for financial liabilities designated at fair value through profit or loss as well as their contractual maturity and carrying amounts. Senior note liabilities ($ millions) Contractual (1) Carrying value Difference Changes in fair value Cumulative changes (1) As at July 31, 2019 $ 11,346 $ 11,536 $ (190) $ 6 $ (73 ) As at April 30, 2019 $ 10,747 $ 10,919 $ (172 ) $ (43 ) $ (79 ) As at July 31, 2018 $ 7,746 $ 7,652 $ 94 $ 30 $ (20 ) (1) The cumulative change in fair value is measured from the instruments’ date of initial recognition. (c) Financial instruments – fair value Fair value of financial instruments The calculation of fair value is based on market conditions at a specific point in time and therefore may not be reflective of future fair values. The Bank has controls and processes in place to ensure that the valuation of financial instruments is appropriately determined. Refer to Note 7 of the Bank’s consolidated financial statements in the 2018 Annual Report for the valuation techniques used to fair value its significant financial assets and liabilities. The following table sets out the fair values of financial instruments of the Bank and excludes non-financial As at July 31, 2019 April 30, 2019 October 31, 2018 ($ millions) Total fair Total Total fair Total Total fair Total Assets: Cash and deposits with financial institutions $ 45,262 $ 45,262 $ 50,121 $ 50,121 $ 62,269 $ 62,269 Trading assets 131,068 131,068 117,140 117,140 100,262 100,262 Financial instruments designated at fair value through profit or loss 13 13 14 14 12 12 Securities purchased under resale agreements and securities borrowed 119,478 119,478 126,090 126,090 104,018 104,018 Derivative financial instruments 36,157 36,157 31,358 31,358 37,558 37,558 Investment securities – other 58,366 58,366 61,214 61,214 57,653 57,653 Investment securities – amortized cost 24,318 24,226 23,820 23,932 20,316 20,743 Loans 595,696 589,243 588,619 583,815 553,758 551,834 Customers’ liability under acceptances 13,923 13,923 12,823 12,823 16,329 16,329 Other financial assets 11,237 11,237 12,761 12,761 10,913 10,913 Liabilities: Deposits 723,894 722,346 712,949 712,282 674,535 676,534 Financial instruments designated at fair value through profit or loss 11,536 11,536 10,919 10,919 8,188 8,188 Acceptances 13,932 13,932 12,833 12,833 16,338 16,338 Obligations related to securities sold short 25,669 25,669 29,957 29,957 32,087 32,087 Derivative financial instruments 37,307 37,307 33,176 33,176 37,967 37,967 Obligations related to securities sold under repurchase agreements and securities lent 120,555 120,555 124,331 124,331 101,257 101,257 Subordinated debentures 9,314 9,021 7,801 7,554 5,627 5,698 Other financial liabilities 37,532 36,948 38,030 37,601 35,432 34,805 (d) Fair value hierarchy The best evidence of fair value for a financial instrument is the quoted price in an active market. Unadjusted quoted market prices for identical instruments represent a Level 1 valuation. Where possible, valuations are based on quoted prices or observable inputs obtained from active markets. Quoted prices are not always available for over-the-counter Where financial instruments trade in inactive markets or when using models where observable parameters do not exist, greater management judgment is required for valuation purposes. Valuations that require the significant use of unobservable inputs are considered as Level 3. The following table outlines the fair value hierarchy and instruments carried at fair value on a recurring basis. As at July 31, 2019 April 30, 2019 ($ millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Instruments carried at fair value on a recurring basis: Assets: Precious metals (1) $ – $ 3,571 $ 1 $ 3,572 $ – $ 3,504 $ 39 $ 3,543 Trading assets Loans – 14,158 – 14,158 – 13,104 – 13,104 Canadian federal government and government guaranteed debt 13,374 1,557 – 14,931 13,514 1,789 – 15,303 Canadian provincial and municipal debt – 7,776 – 7,776 – 6,892 – 6,892 US treasury and other US agencies’ debt 12,544 – – 12,544 10,974 – – 10,974 Other foreign governments’ debt 6,746 2,981 – 9,727 3,793 2,847 – 6,640 Corporate and other debt 2 10,788 14 10,804 3 9,714 15 9,732 Income funds 40 – – 40 35 – – 35 Equity securities 59,987 179 – 60,166 52,830 719 – 53,549 Other (2) 922 – – 922 911 – – 911 $ 93,615 $ 41,010 $ 15 $ 134,640 $ 82,060 $ 38,569 $ 54 $ 120,683 Financial assets designated at fair value through profit or loss $ 13 $ – $ – $ 13 $ 14 $ – $ – $ 14 Investment securities (3) Canadian federal government and government guaranteed debt 8,202 2,674 – 10,876 6,350 2,565 – 8,915 Canadian provincial and municipal debt 228 2,690 – 2,918 241 2,763 – 3,004 US treasury and other US agencies’ debt 17,686 488 – 18,174 22,198 507 – 22,705 Other foreign governments’ debt 10,035 9,991 31 20,057 8,284 10,531 31 18,846 Corporate and other debt 261 1,431 19 1,711 188 1,698 16 1,902 Mortgage-backed securities – 2,461 – 2,461 – 3,787 – 3,787 Equity securities 1,098 260 811 2,169 1,033 246 776 2,055 $ 37,510 $ 19,995 $ 861 $ 58,366 $ 38,294 $ 22,097 $ 823 $ 61,214 Derivative financial instruments Interest rate contracts $ – $ 13,720 $ 12 $ 13,732 $ – $ 10,459 $ 29 $ 10,488 Foreign exchange and gold contracts 2 18,971 – 18,973 2 16,773 – 16,775 Equity contracts 837 699 1 1,537 778 890 2 1,670 Credit contracts – 192 – 192 – 189 – 189 Commodity contracts 43 1,680 – 1,723 8 2,228 – 2,236 $ 882 $ 35,262 $ 13 $ 36,157 $ 788 $ 30,539 $ 31 $ 31,358 Liabilities: Deposits (4) $ – $ 77 $ – $ 77 $ – $ (51 ) $ – $ (51 ) Financial liabilities designated at fair value through profit or loss – 11,536 – 11,536 – 10,919 – 10,919 Obligations related to securities sold short 22,170 3,499 – 25,669 25,327 4,630 – 29,957 Derivative financial instruments Interest rate contracts – 12,786 22 12,808 – 10,580 20 10,600 Foreign exchange and gold contracts 8 19,558 – 19,566 1 16,502 – 16,503 Equity contracts 887 1,647 – 2,534 865 2,629 2 3,496 Credit contracts – 49 – 49 – 56 – 56 Commodity contracts – 2,350 – 2,350 – 2,521 – 2,521 $ 895 $ 36,390 $ 22 $ 37,307 $ 866 $ 32,288 $ 22 $ 33,176 (1) The fair value of precious metals is determined based on quoted market prices and forward spot prices, where applicable. (2) Represents energy related assets. (3) Excludes debt investment securities measured at amortized cost of $24,226 (April 30, 2019-$23,932). (4) These amounts represent embedded derivatives bifurcated from structured notes. As at October 31, 2018 ($ millions) Level 1 Level 2 Level 3 Total Instruments carried at fair value on a recurring basis: Assets: Precious metals (1) $ – $ 3,175 $ 16 $ 3,191 Trading assets Loans – 14,334 – 14,334 Canadian federal government and government guaranteed debt 13,003 – – 13,003 Canadian provincial and municipal debt – 10,159 – 10,159 US treasury and other US agencies’ debt 7,164 – – 7,164 Other foreign governments’ debt 4,610 1,833 – 6,443 Corporate and other debt 3 8,984 18 9,005 Income funds 29 – – 29 Equity securities 39,513 158 – 39,671 Other (2) 454 – – 454 $ 64,776 $ 38,643 $ 34 $ 103,453 Financial assets designated at fair value through profit or loss $ 12 $ – $ – $ 12 Investment securities (3) Canadian federal government and government guaranteed debt 6,373 2,518 – 8,891 Canadian provincial and municipal debt 366 3,986 – 4,352 US treasury and other US agencies’ debt 18,472 669 – 19,141 Other foreign governments’ debt 10,457 9,485 48 19,990 Corporate and other debt 732 1,818 13 2,563 Mortgage-backed securities – 906 – 906 Equity securities 838 263 709 1,810 $ 37,238 $ 19,645 $ 770 $ 57,653 Derivative financial instruments Interest rate contracts $ – $ 8,927 $ 112 $ 9,039 Foreign exchange and gold contracts 5 22,197 – 22,202 Equity contracts 797 1,556 8 2,361 Credit contracts – 349 – 349 Commodity contracts 92 3,515 – 3,607 $ 894 $ 36,544 $ 120 $ 37,558 Liabilities: Deposits (4) $ – $ (401 ) $ – $ (401 ) Financial liabilities designated at fair value through profit or loss – 8,188 – 8,188 Obligations related to securities sold short 24,563 7,524 – 32,087 Derivative financial instruments Interest rate contracts – 11,012 74 11,086 Foreign exchange and gold contracts – 20,537 – 20,537 Equity contracts 1,057 1,884 5 2,946 Credit contracts – 70 – 70 Commodity contracts 34 3,294 – 3,328 $ 1,091 $ 36,797 $ 79 $ 37,967 (1) The fair value of precious metals is determined based on quoted market prices and forward spot prices. (2) Represents energy related assets. (3) Excludes debt investment securities measured at amortized cost of $20,743. (4) These amounts represent embedded derivatives bifurcated from structured notes. Level 3 instrument fair value changes Financial instruments categorized as Level 3 as at July 31, 2019, in the fair value hierarchy comprise certain precious metals, certain foreign government bonds, structured corporate bonds, investments in private equity securities and complex derivatives. The following table summarizes the changes in Level 3 instruments carried at fair value for the three months ended July 31, 2019. All positive balances represent assets and negative balances represent liabilities. Consequently, positive amounts indicate purchases of assets or settlements of liabilities and negative amounts indicate sales of assets or issuances of liabilities. As at July 31, 2019 ($ millions) Fair value, Gains/ Gains/ Purchases/ Sales/ Transfers Fair Changes in (1) Precious metals $ 39 $ – $ – $ – $ (38 ) $ – $ 1 $ – 39 – – – (38 ) – 1 – Trading assets Corporate and other debt 15 – – – (1 ) – 14 – 15 – – – (1 ) – 14 – Investment securities Other foreign governments’ debt 31 – – – – – 31 n/a Corporate and other debt 16 – 3 – – – 19 n/a Equity securities 776 7 8 46 (26 ) – 811 7 823 7 11 46 (26 ) – 861 7 Derivative financial instruments – assets Interest rate contracts 29 (12 ) – – (5 ) – 12 (12 ) Equity contracts 2 – – – – (1 ) 1 – (2) Derivative financial instruments – liabilities Interest rate contracts (20 ) (7 ) – (1 ) 6 – (22 ) (7 ) (3) Equity contracts (2 ) – – – – 2 – – (2) 9 (19 ) – (1 ) 1 1 (9 ) (19 ) Total $ 886 $ (12 ) $ 11 $ 45 $ (64 ) $ 1 $ 867 $ (12 ) (1) These amounts represent the gains and losses from fair value changes of Level 3 instruments still held at the end of the period that are recorded in the Consolidated Statement of Income. (2) Certain unrealized gains and losses on derivative assets and liabilities are largely offset by mark-to-market (3) Certain unrealized losses on interest rate derivative contracts are largely offset by mark-to-market The following tables summarize the changes in Level 3 instruments carried at fair value for the three months ended April 30, 2019 and October 31, 2018: As at April 30, 2019 ($ millions) Fair value, Gains/ (1) Gains/ Purchases/ Sales/ Transfers Fair Precious metals $ 14 $ – $ – $ 25 $ – $ – $ 39 Trading assets 18 – – – (7 ) 4 15 Investment securities 749 5 17 92 (36 ) (4 ) 823 Derivative financial instruments 9 (2 ) – – – 2 9 (1) Gains or losses for items in Level 3 may be offset with losses or gains on related hedges in Level 1 or Level 2. As at October 31, 2018 ($ millions) Fair value, Gains/ (1) Gains/ Purchases/ Sales/ Transfers Fair Precious metals $ 11 $ – $ – $ 5 $ – $ – $ 16 Trading assets 20 – – – (2 ) – 18 Investment securities 750 9 – 70 (39 ) (20 ) 770 Derivative financial instruments 28 2 – – – 11 41 (1) Gains or losses for items in Level 3 may be offset with losses or gains on related hedges in Level 1 or Level 2. Significant transfers Significant transfers can occur between the fair value hierarchy levels when additional or new information regarding valuation inputs and their refinement and observability become available. The Bank recognizes transfers between levels of the fair value hierarchy as of the end of the reporting period during which the change has occurred. There were no significant transfers into and out of Level 3 during the three months ended July 31, 2019, April 30, 2019 and October 31, 2018. Level 3 sensitivity The Bank applies judgment in determining unobservable inputs used to calculate the fair value of Level 3 instruments. Refer to Note 7 of the Bank’s audited consolidated financial statements for the year ended October 31, 2018 for a description of the significant unobservable inputs for Level 3 instruments and the potential effect that a change in each unobservable input may have on the fair value measurement. There have been no significant changes to the Level 3 sensitivities during the quarter. |
Corporate income taxes
Corporate income taxes | 9 Months Ended |
Jul. 31, 2019 | |
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Corporate income taxes | 21. Corporate income taxes In November 2016, the Bank received a federal reassessment of $179 million for tax and interest as a result of the Canada Revenue Agency denying the tax deductibility of certain Canadian dividends received during the 2011 taxation year. In August 2017, the Bank received a reassessment of $185 million for tax and interest for the 2012 taxation year. The circumstances of the dividends subject to the reassessments are similar to those prospectively addressed by recently enacted rules which had been introduced in the 2015 Canadian federal budget. In June 2018, the Bank received a reassessment for $211 million for tax and interest in respect of the same circumstances for the 2013 taxation year. The Bank is confident that its tax filing position was appropriate and in accordance with the relevant provisions of the Income Tax Act (Canada), and intends to vigorously defend its position. |
Acquisitions and divestitures
Acquisitions and divestitures | 9 Months Ended |
Jul. 31, 2019 | |
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Acquisitions and divestitures | 22. Acquisitions and divestitures Acquisitions Acquisitions that closed during the prior period a) Banco Dominicano del Progreso, Dominican Republic On March 1, 2019, the Bank completed the previously announced acquisition of 97.44% of Banco Dominicano del Progreso, Dominican Republic after receiving regulatory approvals. The acquired business forms part of the International Banking business segment. On acquisition, approximately $1.8 billion of assets (mainly loans) and $1.4 billion of liabilities (mainly deposits) were recorded. Subsequent adjustments during the measurement period will occur as the Bank completes its estimation of fair values of assets acquired including intangibles, and liabilities assumed. b) Banco Cencosud, Peru On March 1, 2019, the Bank completed the acquisition of 51% of the controlling interest of Banco Cencosud, Peru after receiving regulatory approvals. The acquired business forms part of the International Banking business segment. On acquisition, approximately $0.4 billion of assets (mainly loans) and $0.3 billion of liabilities (mainly deposits) were recorded. Subsequent adjustments during the measurement period will occur as the Bank completes its estimation of fair values of assets acquired including intangibles, and liabilities assumed. Divestitures Announced divestiture impacting the current period Operations in Puerto Rico and the U.S. Virgin Islands On June 26, 2019, the Bank announced the sale of its operations in Puerto Rico and the U.S. Virgin Islands to Oriental Bank, a subsidiary of OFG Bancorp. As this transaction has met the accounting requirements of assets held for sale, a loss of $402 million after tax, that primarily represents the carrying value of goodwill relating to this business, has been recorded this quarter in Non-interest Announced divestiture impacting the prior period Insurance and banking operations in El Salvador On February 8, 2019, the Bank announced that it has reached an agreement under which the Bank will sell its banking and insurance operations in El Salvador, including Scotiabank El Salvador, its subsidiaries and Scotia Seguros, subject to regulatory approval and closing conditions. As this transaction has met the accounting requirements of assets held for sale, a loss of approximately $132 million after tax, that primarily represents the carrying value of goodwill relating to this business, was recorded in the second quarter in Non-interest Closed divestiture impacting the prior period Scotia Crecer AFP and Scotia Seguros – pension and insurance businesses in the Dominican Republic On April 30, 2019, the Bank completed the sale of Scotia Crecer AFP and Scotia Seguros, its pension and related insurance businesses in the Dominican Republic, upon receiving regulatory approvals and satisfying closing conditions. All assets and liabilities in relation to this business have been derecognized on the date of close and a net gain of approximately $273 million after tax was recorded in the second quarter in Non-interest Divestitures previously announced not yet impacting the Bank’s financial results a) Insurance and banking operations in the Caribbean On November 27, 2018, the Bank announced its subsidiaries in Jamaica and Trinidad & Tobago will sell their insurance operations. The Bank will partner with the buyer to provide an expanded suite of insurance products and services to customers in Jamaica and Trinidad & Tobago. On November 27, 2018, the Bank also announced it has entered into an agreement with another party to sell its banking operations in nine non-core These divestitures are subject to regulatory approvals and closing conditions. b) Thanachart Bank, Thailand On August 8, 2019, the Bank announced that it has signed agreements with ING Groep N.V., Thanachart Bank Public Company Limited (“TBank”) and TMB Bank Public Company Limited (“TMB”) that largely follow the memorandum of understanding announced on February 26, 2019. The carrying value of the Bank’s 49% interest in TBank was $3.45 billion as at July 31, 2019. Upon closing and pursuant to these agreements, the Bank will sell its interest in TBank in exchange for cash and shares in TMB (and ultimately the new bank resulting from the subsequent merger of TMB and TBank (“the Merged Bank”)). Based on current values, this would result in the Bank owning approximately 6% of the Merged Bank. The announced transaction is subject to customary closing conditions, including regulatory approvals, and other non-customary Upon closing, the Bank will record a gain of approximately $300 million after tax, subject to closing adjustments including fair values and foreign exchange rates prevailing at the date of closing, and the Bank’s common equity Tier 1 (CET1) ratio will increase by approximately 25 basis points. The Bank will continue to retain 49% interest in two TBank subsidiaries that are not part of these signed agreements. Direct deposit service Shareholders may have dividends deposited directly into accounts held at financial institutions which are members of the Canadian Payments Association. To arrange direct deposit service, please write to the transfer agent. Dividend and Share Purchase Plan Scotiabank’s dividend reinvestment and share purchase plan allows common and preferred shareholders to purchase additional common shares by reinvesting their cash dividend without incurring brokerage or administrative fees. As well, eligible shareholders may invest up to $20,000 each fiscal year to purchase additional common shares of the Bank. All administrative costs of the plan are paid by the Bank. For more information on participation in the plan, please contact the transfer agent. Dividend dates for 2019 Record and payment dates for common and preferred shares, subject to approval by the Board of Directors. Record Date Payment Date January 2, 2019 January 29, 2019 April 2, 2019 April 26, 2019 July 2, 2019 July 29, 2019 October 1, 2019 October 29, 2019 |
Cash and deposits with financ_2
Cash and deposits with financial institutions (Tables) | 9 Months Ended |
Jul. 31, 2019 | |
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Summary of Cash and Deposits with Financial Institutions | As at ($ millions) July 31 2019 April 30 October 31 Cash and non-interest-bearing $ 10,548 $ 9,660 $ 8,997 Interest-bearing deposits with financial institutions 34,714 40,461 53,272 Total $ 45,262 (1) $ 50,121 (1) $ 62,269 (1) (1) Net of impairment allowances of $3 (April 30, 2019 – $4; October 31, 2018 – $3). |
Investment securities (Tables)
Investment securities (Tables) | 9 Months Ended |
Jul. 31, 2019 | |
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Disclosure of Carrying Value Of Banks Investment Securities Per Measurement Category | The following table presents the carrying amounts of the Bank’s investment securities per measurement category. As at ($ millions) July 31 April 30 October 31 Debt investment securities measured at FVOCI $ 56,197 $ 59,159 $ 55,843 Debt investment securities measured at amortized cost 24,226 23,932 20,743 Equity investment securities designated at FVOCI 1,559 1,500 1,305 Equity investment securities measured at FVTPL 610 555 505 Total investment securities $ 82,592 $ 85,146 $ 78,396 |
Disclosure of Unrealized Gains and Losses on Fair Value through Other Comprehensive Income Securities | As at July 31, 2019 ($ millions) Cost Gross Gross Fair Canadian federal government issued or guaranteed debt $ 10,690 $ 198 $ 12 $ 10,876 Canadian provincial and municipal debt 2,894 31 7 2,918 U.S. treasury and other U.S. agency debt 17,880 302 8 18,174 Other foreign government debt 19,950 124 17 20,057 Other debt 4,156 26 10 4,172 Total $ 55,570 $ 681 $ 54 $ 56,197 As at April 30, 2019 ($ millions) Cost Gross Gross Fair Canadian federal government issued or guaranteed debt $ 8,774 $ 147 $ 6 $ 8,915 Canadian provincial and municipal debt 2,995 20 11 3,004 U.S. treasury and other U.S. agency debt 22,546 196 37 22,705 Other foreign government debt 18,806 72 32 18,846 Other debt 5,694 16 21 5,689 Total $ 58,815 $ 451 $ 107 $ 59,159 As at October 31, 2018 ($ millions) Cost Gross Gross Fair Canadian federal government issued or guaranteed debt $ 8,903 $ 38 $ 50 $ 8,891 Canadian provincial and municipal debt 4,403 3 54 4,352 U.S. treasury and other U.S. agency debt 19,298 6 163 19,141 Other foreign government debt 20,022 49 81 19,990 Other debt 3,503 6 40 3,469 Total $ 56,129 $ 102 $ 388 $ 55,843 |
Summary of Analysis of Fair Value and Carrying Value of Investment Securities Measured at Amortized Cost | As at July 31, 2019 April 30, 2019 October 31, 2018 ($ millions) Fair value Carrying (1) Fair value Carrying (1) Fair value Carrying (1) Canadian federal and provincial government issued or guaranteed debt $ 5,278 $ 5,317 $ 5,806 $ 5,859 $ 6,530 $ 6,681 U.S. treasury and other U.S. agency debt 3,726 3,766 4,002 4,074 4,321 4,462 Other foreign government debt 2,487 2,488 2,990 3,006 3,086 3,131 Corporate debt 12,827 12,655 11,022 10,993 6,379 6,469 Total $ 24,318 $ 24,226 $ 23,820 $ 23,932 $ 20,316 $ 20,743 (1) Balances are net of impairment allowances of $1 (April 30, 2019 – nil; October 31, 2018 – $1). |
Summary of Equity Investment Securities Designated as at Fair Value Through Other Comprehensive Income | As at July 31, 2019 ($ millions) Cost Gross Gross Fair Preferred equity instruments $ 145 $ 2 $ 50 $ 97 Common shares 1,280 193 11 1,462 Total $ 1,425 $ 195 $ 61 $ 1,559 As at April 30, 2019 ($ millions) Cost Gross Gross Fair Preferred equity instruments $ 145 $ 2 $ 48 $ 99 Common shares 1,243 172 14 1,401 Total $ 1,388 $ 174 $ 62 $ 1,500 As at October 31, 2018 ($ millions) Cost Gross Gross Fair Preferred equity instruments $ 334 $ – $ 54 $ 280 Common shares 937 126 38 1,025 Total $ 1,271 $ 126 $ 92 $ 1,305 |
Loans, impaired loans and all_2
Loans, impaired loans and allowance for credit losses (Tables) | 9 Months Ended |
Jul. 31, 2019 | |
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Disclosure of Loans at Amortized Cost | (a) Loans at amortized cost As at July 31, 2019 ($ millions) Gross Allowance for Net Residential mortgages $ 265,170 $ 721 $ 264,449 Personal loans 98,679 2,098 96,581 Credit cards 17,933 1,293 16,640 Business and government 212,655 1,082 211,573 Total $ 594,437 $ 5,194 $ 589,243 As at April 30, 2019 October 31, 2018 ($ millions) Gross Allowance Net Gross Allowance for Net Residential mortgages $ 260,586 $ 734 $ 259,852 $ 253,357 $ 678 $ 252,679 Personal loans 97,874 2,117 95,757 96,019 2,109 93,910 Credit cards 17,730 1,360 16,370 16,485 1,213 15,272 Business and government 212,920 1,084 211,836 191,038 1,065 189,973 Total $ 589,110 $ 5,295 $ 583,815 $ 556,899 $ 5,065 $ 551,834 |
Schedule of Impaired Loans | (b) Impaired loans (1)(2) As at July 31, 2019 ($ millions) Gross Allowance for Net Residential mortgages $ 1,910 $ 364 $ 1,546 Personal loans 1,091 628 463 Credit cards – – – Business and government 2,228 678 1,550 Total $ 5,229 $ 1,670 $ 3,559 By geography: Canada $ 1,078 $ 373 $ 705 United States 97 11 86 Mexico 479 190 289 Peru 638 340 298 Chile 816 192 624 Colombia 546 152 394 Other international 1,575 412 1,163 Total $ 5,229 $ 1,670 $ 3,559 As at April 30, 2019 October 31, 2018 ($ millions) Gross Allowance for Net Gross Allowance for Net Residential mortgages $ 1,922 $ 368 $ 1,554 $ 1,797 $ 360 $ 1,437 Personal loans 1,131 627 504 1,069 644 425 Credit cards – – – – – – Business and government 2,311 674 1,637 2,264 673 1,591 Total $ 5,364 $ 1,669 $ 3,695 $ 5,130 $ 1,677 $ 3,453 By geography: Canada $ 1,078 $ 371 $ 707 $ 999 $ 381 $ 618 United States 129 17 112 80 25 55 Mexico 463 188 275 359 164 195 Peru 639 325 314 581 317 264 Chile 842 172 670 753 158 595 Colombia 578 154 424 619 159 460 Other international 1,635 442 1,193 1,739 473 1,266 Total $ 5,364 $ 1,669 $ 3,695 $ 5,130 $ 1,677 $ 3,453 (1) Interest income recognized on impaired loans during the three months ended July 31, 2019 was $13 (April 30, 2019 – $12; October 31, 2018 – $12). (2) Additional interest income of approximately $98 would have been recorded if the above loans had not been classified as impaired (April 30, 2019 – $100; October 31, 2018 – $93). |
Schedule of Allowance for Credit Losses | Allowance for credit losses ($ millions) Balance as at 2018 Provision for Net write-offs Other, including Balance as at 2019 Residential mortgages $ 678 $ 83 $ (51 ) $ 11 $ 721 Personal loans 2,109 1,109 (1,160 ) 40 2,098 Credit cards 1,213 887 (815 ) 8 1,293 Business and government 1,147 195 (167 ) (24) 1,151 $ 5,147 $ 2,274 $ (2,193 ) $ 35 $ 5,263 Presented as: Allowance for credit losses on loans $ 5,065 $ 5,194 Allowance for credit losses on acceptances (1) 8 8 Allowance for credit losses on off-balance (2) 74 61 (1) Allowance for credit losses on acceptances are recorded against the financial asset in the Consolidated Statement of Financial Position. (2) Allowance for credit losses on off-balance sheet exposures is recorded in other liabilities in the Consolidated Statement of Financial Position. ($ millions) Balance as at 2017 Provision for Net write-offs Other, including Balance as at 2018 Residential mortgages $ 717 $ 102 $ (60 ) $ 4 $ 763 Personal loans 1,879 1,077 (861 ) 41 2,136 Credit cards 1,163 671 (624 ) 49 1,259 Business and government 1,261 181 (171 ) (21 ) 1,250 $ 5,020 $ 2,031 $ (1,716 ) $ 73 $ 5,408 Presented as: Allowance for credit losses on loans $ 4,920 $ 5,323 Allowance for credit losses on acceptances (1) 16 8 Allowance for credit losses on off-balance (2) 84 77 (1) Allowance for credit losses on acceptances are recorded against the financial asset in the Consolidated Statement of Financial Position. (2) Allowance for credit losses on off-balance sheet exposures is recorded in other liabilities in the Consolidated Statement of Financial Position. Allowance for credit losses on loans As at July 31, 2019 ($ millions) Stage 1 Stage 2 Stage 3 Total Residential mortgages $ 127 $ 230 $ 364 $ 721 Personal loans 602 868 628 2,098 Credit cards 443 850 – 1,293 Business and government 159 245 678 1,082 Total (1) $ 1,331 $ 2,193 $ 1,670 $ 5,194 (1) Excludes allowance for credit losses for other financial assets including acceptances, investment securities, deposits with banks and off-balance As at October 31, 2018 ($ millions) Stage 1 Stage 2 Stage 3 Total Residential mortgages $ 112 $ 206 $ 360 $ 678 Personal loans 578 887 644 2,109 Credit cards 401 812 – 1,213 Business and government 132 260 673 1,065 Total (1) $ 1,223 $ 2,165 $ 1,677 $ 5,065 (1) Excludes allowance for credit losses for other financial assets including acceptances, investment securities, deposits with banks and off-balance As at July 31, 2018 ($ millions) Stage 1 Stage 2 Stage 3 Total Residential mortgages $ 156 $ 193 $ 414 $ 763 Personal loans 712 816 608 2,136 Credit cards 471 788 – 1,259 Business and government 154 258 753 1,165 Total (1) $ 1,493 $ 2,055 $ 1,775 $ 5,323 (1) Excludes allowance for credit losses for other financial assets including acceptances, investment securities, deposits with banks and off-balance The following table presents the changes to the allowance for credit losses on loans. As at and for the three months ended As at and for the nine months ended July 31, 2019 April 30, 2019 July 31, 2019 ($ millions) Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Residential mortgages Balance at beginning of period $ 129 $ 237 $ 368 $ 734 $ 121 $ 226 $ 362 $ 709 $ 112 $ 206 $ 360 $ 678 Provision for credit losses Remeasurement (1) (25 ) 1 36 12 (17 ) 7 27 17 (66 ) 16 92 42 Newly originated or purchased financial assets 14 – – 14 12 – – 12 49 – – 49 Derecognition of financial assets and maturities – (2 ) – (2 ) – (2 ) – (2 ) (1 ) (7 ) – (8 ) Changes in models and methodologies – – – – – – – – – – – – Transfer to (from): Stage 1 13 (13 ) – – 15 (13 ) (2 ) – 40 (37 ) (3 ) – Stage 2 (3 ) 25 (22 ) – (3 ) 27 (24 ) – (11 ) 80 (69 ) – Stage 3 – (11 ) 11 – – (10 ) 10 – – (30 ) 30 – Gross write-offs – – (27 ) (27 ) – – (23 ) (23 ) – – (70 ) (70 ) Recoveries – – 6 6 – – 11 11 – – 19 19 Foreign exchange and other movements (1 ) (7 ) (8 ) (16 ) 1 2 7 10 4 2 5 11 Balance at end of period (2) $ 127 $ 230 $ 364 $ 721 $ 129 $ 237 $ 368 $ 734 $ 127 $ 230 $ 364 $ 721 Personal loans Balance at beginning of period $ 609 $ 881 $ 627 $ 2,117 $ 596 $ 875 $ 640 $ 2,111 $ 578 $ 887 $ 644 $ 2,109 Provision for credit losses Remeasurement (1) (157 ) 130 342 315 (155 ) 138 300 283 (464 ) 408 946 890 Newly originated or purchased financial assets 112 – – 112 123 – – 123 353 – – 353 Derecognition of financial assets and maturities (21 ) (26 ) – (47 ) (20 ) (23 ) – (43 ) (60 ) (74 ) – (134 ) Changes in models and methodologies – – – – – – – – – – – – Transfer to (from): Stage 1 121 (118 ) (3 ) – 110 (107 ) (3 ) – 339 (332 ) (7 ) – Stage 2 (50 ) 69 (19 ) – (48 ) 70 (22 ) – (144 ) 205 (61 ) – Stage 3 (1 ) (83 ) 84 – (1 ) (79 ) 80 – (3 ) (241 ) 244 – Gross write-offs – – (459 ) (459 ) – – (438 ) (438 ) – – (1,377 ) (1,377 ) Recoveries – – 75 75 – – 70 70 – – 217 217 Foreign exchange and other movements (11 ) 15 (19 ) (15 ) 4 7 – 11 3 15 22 40 Balance at end of period (2) $ 602 $ 868 $ 628 $ 2,098 $ 609 $ 881 $ 627 $ 2,117 $ 602 $ 868 $ 628 $ 2,098 Credit cards Balance at beginning of period $ 458 $ 902 $ – $ 1,360 $ 410 $ 802 $ – $ 1,212 $ 401 $ 812 $ – $ 1,213 Provision for credit losses Remeasurement (1) (66 ) 84 205 223 (141 ) 220 204 283 (275 ) 412 579 716 Newly originated or purchased financial assets 48 – – 48 171 – – 171 265 – – 265 Derecognition of financial assets and maturities (15 ) (17 ) – (32 ) (15 ) (16 ) – (31 ) (44 ) (50 ) – (94 ) Changes in models and methodologies – – – – – – – – – – – – Transfer to (from): Stage 1 62 (62 ) – – 63 (63 ) – – 194 (194 ) – – Stage 2 (35 ) 35 – – (32 ) 32 – – (99 ) 99 – – Stage 3 – (70 ) 70 – – (71 ) 71 – – (211 ) 211 – Gross write-offs – – (334 ) (334 ) – – (335 ) (335 ) – – (981 ) (981 ) Recoveries – – 56 56 – – 55 55 – – 166 166 Foreign exchange and other movements (9 ) (22 ) 3 (28 ) 2 (2 ) 5 5 1 (18 ) 25 8 Balance at end of period (2) $ 443 $ 850 $ – $ 1,293 $ 458 $ 902 $ – $ 1,360 $ 443 $ 850 $ – $ 1,293 As at and for the three months ended As at and for the nine months ended July 31, 2019 April 30, 2019 July 31, 2019 ($ millions) Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Business and government Balance at beginning of period $ 198 $ 274 $ 675 $ 1,147 $ 197 $ 272 $ 679 $ 1,148 $ 173 $ 291 $ 675 $ 1,139 Provision for credit losses Remeasurement (1) (5 ) 4 75 74 (8 ) 13 64 69 (30 ) 30 208 208 Newly originated or purchased financial assets 50 – – 50 41 – – 41 130 – – 130 Derecognition of financial assets and maturities (40 ) (6 ) (3 ) (49 ) (38 ) (4 ) (8 ) (50 ) (105 ) (18 ) (18 ) (141 ) Changes in models and methodologies (2 ) (2 ) – (4 ) – – – – (2 ) (2 ) – (4 ) Transfer to (from): Stage 1 9 (9 ) – – 7 (7 ) – – 47 (47 ) – – Stage 2 (3 ) 4 (1 ) – (3 ) 3 – – (11 ) 14 (3 ) – Stage 3 – (1 ) 1 – – (3 ) 3 – – (6 ) 6 – Gross write-offs – – (70 ) (70 ) – – (67 ) (67 ) – – (202 ) (202 ) Recoveries – – 8 8 – – 11 11 – – 35 35 Foreign exchange and other movements (4 ) (2 ) (7 ) (13 ) 2 – (7 ) (5 ) 1 – (23 ) (22 ) Balance at end of period including off-balance (2) $ 203 $ 262 $ 678 $ 1,143 $ 198 $ 274 $ 675 $ 1,147 $ 203 $ 262 $ 678 $ 1,143 Less: Allowance for credits losses on off-balance (2) (44 ) (17 ) – (61 ) (41 ) (21 ) (1 ) (63 ) (44 ) (17 ) – (61 ) Balance at end of period (2) $ 159 $ 245 $ 678 $ 1,082 $ 157 $ 253 $ 674 $ 1,084 $ 159 $ 245 $ 678 $ 1,082 (1) Includes credit risk changes as a result of significant increases in credit risk, changes in credit risk that did not result in a transfer between stages, changes in model inputs and assumptions and changes due to drawdowns of undrawn commitments. (2) Interest income on impaired loans for residential mortgages, personal and credit cards, and business and government loans totaled $98 (April 30, 2019 – $100). (3) Includes allowance for credit losses or purchased or originated credit-impaired loans. Refer to Note 8(f). |
Summary of Carrying Value of Exposures by Risk Rating | (d) Carrying value of exposures by risk rating Residential mortgages As at July 31, 2019 As at October 31, 2018 Category of PD grades ($ millions) Stage 1 Stage 2 Stage 3 (1) Total Stage 1 Stage 2 Stage 3 (1) Total Very low $ 150,010 $ 442 $ – $ 150,452 $ 146,461 $ 307 $ – $ 146,768 Low 59,090 526 – 59,616 58,154 378 – 58,532 Medium 13,893 1,109 – 15,002 11,689 972 – 12,661 High 1,639 3,211 – 4,850 1,615 3,515 – 5,130 Very high 13 1,766 – 1,779 25 1,779 – 1,804 Loans not graded (2) 27,684 3,877 – 31,561 23,139 3,526 – 26,665 Default – – 1,910 1,910 – – 1,797 1,797 Total $ 252,329 $ 10,931 $ 1,910 $ 265,170 $ 241,083 $ 10,477 $ 1,797 $ 253,357 Allowance for credit losses 127 230 364 721 112 206 360 678 Carrying value $ 252,202 $ 10,701 $ 1,546 $ 264,449 $ 240,971 $ 10,271 $ 1,437 $ 252,679 (1) Stage 3 includes purchased or originated credit impaired loans. (2) Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category. Personal loans As at July 31, 2019 As at October 31, 2018 Category of PD grades ($ millions) Stage 1 Stage 2 Stage 3 (1) Total Stage 1 Stage 2 Stage 3 (1) Total Very low $ 30,218 $ 112 $ – $ 30,330 $ 30,660 $ 66 $ – $ 30,726 Low 26,812 323 – 27,135 26,039 151 – 26,190 Medium 8,604 439 – 9,043 8,315 402 – 8,717 High 6,953 3,650 – 10,603 6,686 3,647 – 10,333 Very high 47 1,513 – 1,560 58 1,362 – 1,420 Loans not graded (2) 16,559 2,358 – 18,917 15,452 2,112 – 17,564 Default – – 1,091 1,091 – – 1,069 1,069 Total $ 89,193 $ 8,395 $ 1,091 $ 98,679 $ 87,210 $ 7,740 $ 1,069 $ 96,019 Allowance for credit losses 602 868 628 2,098 578 887 644 2,109 Carrying value $ 88,591 $ 7,527 $ 463 $ 96,581 $ 86,632 $ 6,853 $ 425 $ 93,910 (1) Stage 3 includes purchased or originated credit impaired loans. (2) Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category. Credit cards As at July 31, 2019 As at October 31, 2018 Category of PD grades ($ millions) Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Very low $ 1,448 $ 11 $ – $ 1,459 $ 1,418 $ 5 $ – $ 1,423 Low 2,516 21 – 2,537 2,436 14 – 2,450 Medium 3,536 58 – 3,594 3,358 71 – 3,429 High 3,267 1,542 – 4,809 2,929 1,455 – 4,384 Very high 41 766 – 807 37 697 – 734 Loans not graded (1) 3,304 1,423 – 4,727 2,906 1,159 – 4,065 Default – – – – – – – – Total $ 14,112 $ 3,821 $ – $ 17,933 $ 13,084 $ 3,401 $ – $ 16,485 Allowance for credit losses 443 850 – 1,293 401 812 – 1,213 Carrying value $ 13,669 $ 2,971 $ – $ 16,640 $ 12,683 $ 2,589 $ – $ 15,272 (1) Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category. Undrawn loan commitments – Retail As at July 31, 2019 As at October 31, 2018 Category of PD grades ($ millions) Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Very low $ 75,936 $ – $ – $ 75,936 $ 72,321 $ – $ – $ 72,321 Low 17,446 1 – 17,447 16,531 2 – 16,533 Medium 6,532 91 – 6,623 6,029 79 – 6,108 High 2,879 722 – 3,601 2,631 670 – 3,301 Very high 24 321 – 345 26 367 – 393 Loans not graded (1) 11,356 2,706 – 14,062 14,774 3,364 – 18,138 Default – – – – – – – – Carrying value $ 114,173 $ 3,841 $ – $ 118,014 $ 112,312 $ 4,482 $ – $ 116,794 (1) Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category. Business and government loans As at July 31, 2019 As at October 31, 2018 Grade ($ millions) Stage 1 Stage 2 Stage 3 (1) Total Stage 1 Stage 2 Stage 3 (1) Total Investment grade $ 102,927 $ 1,136 $ – $ 104,063 $ 87,047 $ 3,770 $ – $ 90,817 Non-investment 94,904 6,474 – 101,378 83,730 9,706 – 93,436 Watch list 71 3,000 – 3,071 130 2,689 – 2,819 Loans not graded (2) 1,907 8 – 1,915 1,050 652 – 1,702 Default – – 2,228 2,228 – – 2,264 2,264 Total $ 199,809 $ 10,618 $ 2,228 $ 212,655 $ 171,957 $ 16,817 $ 2,264 $ 191,038 Allowance for credit losses 159 245 678 1,082 132 260 673 1,065 Carrying value $ 199,650 $ 10,373 $ 1,550 $ 211,573 $ 171,825 $ 16,557 $ 1,591 $ 189,973 (1) Stage 3 includes purchased or originated credit impaired loans. (2) Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category. Undrawn loan commitments – As at July 31, 2019 As at October 31, 2018 Grade ($ millions) Stage 1 Stage 2 Stage 3 (1) Total Stage 1 Stage 2 Stage 3 (1) Total Investment grade $ 173,208 $ 725 $ – $ 173,933 $ 159,880 $ 1,663 $ – $ 161,543 Non-investment 53,280 3,838 – 57,118 56,001 3,445 – 59,446 Watch list 18 939 – 957 81 977 – 1,058 Loans not graded (2) 1,650 148 – 1,798 2,178 28 – 2,206 Default – – 149 149 – – 4 4 Total $ 228,156 $ 5,650 $ 149 $ 233,955 $ 218,140 $ 6,113 $ 4 $ 224,257 Allowance for credit losses 44 17 – 61 41 31 2 74 Carrying value $ 228,112 $ 5,633 $ 149 $ 233,894 $ 218,099 $ 6,082 $ 2 $ 224,183 (1) Stage 3 includes purchased or originated credit impaired loans. (2) Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category. |
Schedule of Loans Past Due But Not Impaired | (e) Loans past due but not impaired (1) A loan is considered past due when a counterparty has not made a payment by the contractual due date. The following table presents the carrying value of loans that are contractually past due but not classified as impaired because they are either less than 90 days past due or fully secured and collection efforts are reasonably expected to result in repayment, or restoring it to a current status in accordance with the Bank’s policy. As at July 31, 2019 ($ millions) 31-60 61-90 91 days (2) Total Residential mortgages $ 1,241 $ 548 $ – $ 1,789 Personal loans 606 332 – 938 Credit cards 282 173 409 864 Business and government 180 48 – 228 Total $ 2,309 $ 1,101 $ 409 $ 3,819 As at April 30, 2019 ($ millions) 31-60 61-90 91 days (2) Total Residential mortgages $ 1,285 $ 559 $ – $ 1,844 Personal loans 654 344 – 998 Credit cards 277 187 402 866 Business and government 232 134 – 366 Total $ 2,448 $ 1,224 $ 402 $ 4,074 As at October 31, 2018 ($ millions) 31-60 61-90 91 days (2) Total Residential mortgages $ 1,290 $ 521 $ – $ 1,811 Personal loans 609 322 – 931 Credit cards 231 154 353 738 Business and government 167 40 – 207 Total $ 2,297 $ 1,037 $ 353 $ 3,687 (1) Loans past due 30 days or less are not presented in this analysis as they are not administratively considered past due. (2) All loans that are over 90 days past due are considered impaired with the exception of credit card receivables which are considered impaired when 180 days past due. |
Summary of Purchased Credit Impaired Loans | The following table provides details of such assets: As at ($ millions) July 31 April 30 October 31 Unpaid principal balance (1) $ 500 $ 538 $ 548 Credit related fair value adjustments (134 ) (150 ) (168 ) Carrying value 366 388 380 Stage 3 allowance (8 ) – – Carrying value net related allowance $ 358 $ 388 $ 380 (1) Represents principal amount owed net of write-offs. |
Derecognition of financial as_2
Derecognition of financial assets (Tables) | 9 Months Ended |
Jul. 31, 2019 | |
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Summary of Carrying Amount of Transferred Assets Do Not Qualify for Derecognition and Associated Liabilities | The following table provides the carrying amount of transferred assets that do not qualify for derecognition and the associated liabilities: As at ($ millions) July 31 (1) April 30 (1) October 31 (1) Assets Carrying value of residential mortgage loans $ 20,765 $ 21,110 $ 20,498 Other related assets (2) 4,193 3,285 2,679 Liabilities Carrying value of associated liabilities $ 22,512 $ 21,994 $ 21,459 (1) The fair value of the transferred assets is $25,364 (April 30, 2019 – $24,723; October 31, 2018 – $23,237) and the fair value of the associated liabilities is $24,683 (April 30, 2019 – $23,822; October 31, 2018 – $22,468) for a net position of $681 (April 30, 2019 – $901; October 31, 2018 – $769). (2) These include cash held in trust and trust permitted investment assets acquired as part of the principal reinvestment account that the Bank is required to maintain in order to participate in the programs. The following table provides the carrying amount of the transferred assets and the associated liabilities: As at ($ millions) July 31 (1) April 30 (1) October 31 (1) Carrying value of securities associated with: Repurchase agreements (2) $ 107,139 $ 106,895 $ 82,816 Securities lending agreements 48,531 51,554 49,718 Total 155,670 158,449 132,534 Carrying value of associated liabilities (3) $ 120,555 $ 124,331 $ 101,257 (1) The fair value of transferred assets is $155,670 (April 30, 2019 – $158,449; October 31, 2018 – $132,534) and the fair value of the associated liabilities is $120,555 (April 30, 2019 – $124,331; October 31, 2018 – $101,257), for a net position of $35,115 (April 30, 2019 – $34,118; October 31, 2018 –$31,277). (2) Does not include over-collateralization of assets pledged. (3) Liabilities for securities lending arrangements only include amounts related to cash collateral received. In most cases, securities are received as collateral. |
Investments in associates (Tabl
Investments in associates (Tables) | 9 Months Ended |
Jul. 31, 2019 | |
Investments accounted for using equity method [abstract] | |
Significant Investments in Associates | The Bank had significant investments in the following associates: As at July 31 April 30 October 31 ($ millions) Country of Nature of Ownership Date of financial (1) Carrying Carrying Carrying Thanachart Bank Public Company Limited (2) Thailand Banking 49.00 % July 31, 2019 $ 3,452 $ 3,266 $ 2,961 Canadian Tire’s Financial Services Financial business (CTFS) (3) Canada Services 20.00 % June 30, 2019 519 521 518 Bank of Xi’an Co. Ltd. (4) China Banking 17.99 % June 30, 2019 817 848 772 Maduro & Curiel’s Bank N.V. (5) Curacao Banking 48.10 % June 30, 2019 321 322 304 (1) Represents the date of the most recent financial statements made available to the Bank by the associates’ management. (2) Refer to Note 22 - Acquisitions and Divestitures. (3) Under the agreement Canadian Tire has an option to sell to the Bank up to an additional 29% equity interest within the next 10 years at the then fair value, that can be settled, at the Bank’s discretion, by issuance of common shares or cash. After 10 years, for a period of six months, the Bank has the option to sell its equity interest back to Canadian Tire at the then fair value. (4) Based on the quoted price on the Shanghai Stock Exchange, the Bank’s investment in Bank of Xi’an Co. Ltd. was $1,081 as at July 31, 2019. (5) The local regulator requires financial institutions to set aside reserves for general banking risks. These reserves are not required under IFRS, and represent undistributed retained earnings related to a foreign associated corporation, which are subject to local regulatory restrictions. As of July 31, 2019, these reserves amounted to $62 (April 30, 2019 – $63; October 31, 2018 – $62). |
Deposits (Tables)
Deposits (Tables) | 9 Months Ended |
Jul. 31, 2019 | |
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Summary of Deposits | As at July 31, 2019 April 30 October 31 Payable on demand (1) Payable (2) ($ millions) Interest- Non-interest- Payable on a (3) Total Total Total Personal $ 6,567 $ 8,065 $ 123,641 $ 84,622 $ 222,895 $ 224,933 $ 214,545 Business and government 104,319 24,651 39,208 288,628 456,806 443,707 422,002 Financial institutions 5,582 1,062 1,175 34,826 42,645 43,642 39,987 $ 116,468 $ 33,778 $ 164,024 (4) $ 408,076 $ 722,346 $ 712,282 $ 676,534 Recorded in: Canada $ 84,718 $ 16,851 $ 126,951 $ 262,413 $ 490,933 $ 481,177 $ 472,798 United States 19,888 69 6,029 50,276 76,262 73,708 59,938 United Kingdom – – 273 18,001 18,274 18,683 16,847 Mexico 10 4,534 7,335 12,076 23,955 24,487 21,151 Peru 4,857 111 4,476 8,733 18,177 17,955 15,213 Chile 3,166 3,819 147 15,599 22,731 24,790 24,180 Colombia 42 548 4,567 4,690 9,847 9,949 9,543 Other International 3,787 7,846 14,246 36,288 62,167 61,533 56,864 Total (5) $ 116,468 $ 33,778 $ 164,024 $ 408,076 $ 722,346 $ 712,282 $ 676,534 (1) Deposits payable on demand include all deposits for which we do not have the right to notice of withdrawal, generally chequing accounts. (2) Deposits payable after notice include all deposits for which we require notice of withdrawal, generally savings accounts. (3) All deposits that mature on a specified date, generally term deposits, guaranteed investments certificates and similar instruments. (4) Includes $137 (April 30, 2019 – $133; October 31, 2018 – $141) of non-interest-bearing (5) Deposits denominated in U.S. dollars amount to $249,722 (April 30, 2019 – $237,027; October 31, 2018 – $219,195), deposits denominated in Chilean pesos amount to $21,012 (April 30, 2019 – $22,610; October 31, 2018 – $22,731), deposits denominated in Mexican pesos amount to $20,173 (April 30, 2019 – $20,863; October 31, 2018 – $18,341) and deposits denominated in other foreign currencies amount to $83,772 (April 30, 2019 – $84,606; October 31, 2018 – $79,582). |
Summary of Maturity Schedule for Term Deposits | The following table presents the maturity schedule for term deposits in Canada greater than $100,000 (1) ($ millions) Within Three to Six to One to Over Total As at July 31, 2019 $ 48,111 $ 24,313 $ 40,746 $ 93,713 $ 13,664 $ 220,547 As at April 30, 2019 $ 46,113 $ 22,925 $ 32,412 $ 99,940 $ 14,948 $ 216,338 As at October 31, 2018 $ 36,670 $ 23,913 $ 42,830 $ 99,734 $ 19,872 $ 223,019 (1) The majority of foreign term deposits are in excess of $100,000. |
Capital management (Tables)
Capital management (Tables) | 9 Months Ended |
Jul. 31, 2019 | |
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Summary of Regulatory Capital and Leverage Position | The Bank’s regulatory capital and leverage position were as follows: As at ($ millions) July 31 (1) April 30 (1) October 31 (1) Capital Common Equity Tier 1 capital $ 46,565 $ 46,193 $ 44,443 Net Tier 1 capital 51,371 51,709 50,187 Total regulatory capital 61,546 60,855 57,364 Risk-weighted assets/exposures used in calculation of capital ratios CET1 risk-weighted assets (1)(2) $ 417,058 $ 415,212 $ 400,507 Tier 1 risk-weighted assets (1)(2) 417,058 415,212 400,680 Total risk-weighted assets (1)(2) 417,058 415,212 400,853 Leverage exposures 1,211,612 1,204,111 1,119,099 Capital ratios Common Equity Tier 1 capital ratio 11.2 % 11.1 % 11.1 % Tier 1 capital ratio 12.3 % 12.5 % 12.5 % Total capital ratio 14.8 % 14.7 % 14.3 % Leverage ratio 4.2 % 4.3 % 4.5 % (1) In accordance with OSFI’s requirements, effective January 31, 2019, CVA risk-weighted assets have been fully phased-in. (2) As at July 31, 2019, April 30, 2019, and October 31, 2018, the Bank did not have a regulatory capital floor add-on |
Employee benefits (Tables)
Employee benefits (Tables) | 9 Months Ended |
Jul. 31, 2019 | |
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Summary of Expenses for Bank's Principal Plans | The following table summarizes the expenses for the Bank’s principal plans (1) For the three months ended Pension plans Other benefit plans ($ millions) July 31 April 30 July 31 July 31 April 30 July 31 Defined benefit service cost $ 73 $ 71 $ 83 $ (1 ) $ 7 $ 7 Interest on net defined benefit (asset) liability (1 ) 1 2 13 13 11 Other 4 4 3 (7 ) 1 (5 ) Defined benefit expense $ 76 $ 76 $ 88 $ 5 $ 21 $ 13 Defined contribution expense $ 15 $ 15 $ 10 $ 3 n/a n/a Increase (decrease) in other comprehensive income related to employee benefits (2) $ (433 ) $ (219 ) $ 223 $ (42 ) $ (17 ) $ (11 ) For the nine months ended Pension plans Other benefit plans ($ millions) July 31 July 31 July 31 July 31 Defined benefit service cost (3) $ 220 $ 249 $ 13 $ (170 ) Interest on net defined benefit (asset) liability (2 ) 6 39 36 Other 12 9 (5 ) (8 ) Defined benefit expense $ 230 $ 264 $ 47 $ (142 ) Defined contribution expense $ 44 $ 30 $ 3 n/a Increase (decrease) in other comprehensive income related to employee benefits (2) $ (1,047 ) $ 288 $ (124 ) $ 27 (1) Other plans operated by certain subsidiaries of the Bank are not considered material and are not included in this note. (2) Changes in discount rates and return on plan assets are reviewed and updated on a quarterly basis. In the absence of legislated changes, all other assumptions are updated annually. (3) The service cost for other benefit plans includes a decrease of $203 million in the first quarter of fiscal 2018, related to modifications to the Bank’s post-retirement benefits plan. |
Operating segments (Tables)
Operating segments (Tables) | 9 Months Ended |
Jul. 31, 2019 | |
Text block [abstract] | |
Schedule of Operating Segments | Scotiabank’s results, and average assets and liabilities, allocated by these operating segments, are as follows: For the three months ended July 31, 2019 Taxable equivalent basis ($ millions) Canadian International Global Other (1)(2) Total Net interest income (3) $ 2,120 $ 2,157 $ 337 $ (240 ) $ 4,374 Non-interest (4)(5) 1,412 1,270 747 (144 ) 3,285 Total revenues 3,532 3,427 1,084 (384 ) 7,659 Provision for credit losses 240 476 (4 ) 1 713 Non-interest 1,723 1,780 593 113 4,209 Provision for income taxes 409 269 121 (46 ) 753 Net income $ 1,160 $ 902 $ 374 $ (452 ) $ 1,984 Net income attributable to non-controlling $ – $ 121 $ – $ (1 ) $ 120 Net income attributable to equity holders of the Bank $ 1,160 $ 781 $ 374 $ (451 ) $ 1,864 Represented by: Net income attributable to equity holders of the Bank – relating to divested operations (6) – – – – – Net income attributable to equity holders of the Bank – relating to operations other than divested operations 1,160 781 374 (451 ) 1,864 Average assets ($ billions) $ 365 $ 206 $ 374 $ 116 $ 1,061 Average liabilities ($ billions) $ 285 $ 158 $ 306 $ 242 $ 991 (1) Includes all other smaller operating segments and corporate adjustments, such as the elimination of the tax-exempt gross-up non-interest (2) Net income attributable to equity holders includes Net loss on divestitures of $418 (pre-tax (3) Interest income is reported net of interest expense as management relies primarily on net interest income as a performance measure. (4) Card revenues, Banking services fees, and Investment management and trust fees are mainly earned in Canadian and International Banking. Mutual fund and Brokerage fees are primarily earned in Canadian Banking with the remainder being earned in International Banking. Underwriting and other advisory fees are predominantly earned in Global Banking and Markets. (5) Includes income (on a taxable equivalent basis) from investments in associated corporations for Canadian Banking – $16; International Banking – $182 and Other – $(8). (6) Excludes gain/(loss) recognized on divestitures, which is recorded in the Other segment. Refer to Note 22 for further details. For the three months ended April 30, 2019 Taxable equivalent basis ($ millions) Canadian International Global Other (1)(2) Total Net interest income (3) $ 1,990 $ 2,121 $ 350 $ (268 ) $ 4,193 Non-interest (4)(5) 1,390 1,235 801 184 3,610 Total revenues 3,380 3,356 1,151 (84 ) 7,803 Provision for credit losses 252 628 (6 ) (1 ) 873 Non-interest 1,711 1,710 594 31 4,046 Provision for income taxes 369 249 143 (136 ) 625 Net income $ 1,048 $ 769 $ 420 $ 22 $ 2,259 Net income attributable to non-controlling $ – $ 69 $ – $ 1 $ 70 Net income attributable to equity holders of the Bank $ 1,048 $ 700 $ 420 $ 21 $ 2,189 Represented by: Net income attributable to equity holders of the Bank – relating to divested operations (6) – 8 – – 8 Net income attributable to equity holders of the Bank – relating to operations other than divested operations 1,048 692 420 21 2,181 Average assets ($ billions) $ 358 $ 203 $ 361 $ 117 $ 1,039 Average liabilities ($ billions) $ 281 $ 156 $ 295 $ 238 $ 970 (1) Includes all other smaller operating segments and corporate adjustments, such as the elimination of the tax-exempt gross-up non-interest (2) Net income attributable to equity holders includes Net gain on divestitures of $142 (pre-tax (3) Interest income is reported net of interest expense as management relies primarily on net interest income as a performance measure. (4) Card revenues, Banking services fees, and Investment management and trust fees are mainly earned in Canadian and International Banking. Mutual fund and Brokerage fees are primarily earned in Canadian Banking with the remainder being earned in International Banking. Underwriting and other advisory fees are predominantly earned in Global Banking and Markets. (5) Includes income (on a taxable equivalent basis) from investments in associated corporations for Canadian Banking – $18; International Banking – $210 and Other – $(58). (6) Earnings from pension and related insurance business in the Dominican Republic divested in the current period. Refer to Note 22 for further details. These amounts exclude gain/(loss) recognized on divestitures, which is recorded in the Other segment. For the three months ended July 31, 2018 Taxable equivalent basis ($ millions) Canadian International Global Other (1) Total Net interest income (2) $ 2,024 $ 1,827 $ 365 $ (131 ) $ 4,085 Non-interest (3)(4) 1,349 1,026 745 (24 ) 3,096 Total revenues 3,373 2,853 1,110 (155 ) 7,181 Provision for credit losses 181 771 (10 ) 1 943 Non-interest 1,661 1,510 543 56 3,770 Provision for income taxes 401 97 136 (105 ) 529 Net income $ 1,130 $ 475 $ 441 $ (107 ) $ 1,939 Net income attributable to non-controlling $ – $ (44 ) $ – $ – $ (44 ) Net income attributable to equity holders of the Bank $ 1,130 $ 519 $ 441 $ (107 ) $ 1,983 Represented by: Net income attributable to equity holders of the Bank – relating to divested operations (5) – 5 – – 5 Net income attributable to equity holders of the Bank – relating to operations other than divested operations 1,130 514 441 (107 ) 1,978 Average assets ($ billions) $ 344 $ 164 $ 311 $ 116 $ 935 Average liabilities ($ billions) $ 254 $ 129 $ 258 $ 229 $ 870 (1) Includes all other smaller operating segments and corporate adjustments, such as the elimination of the tax-exempt gross-up non-interest (2) Interest income is reported net of interest expense as management relies primarily on net interest income as a performance measure. (3) Card revenues, Banking services fees, and Investment management and trust fees are mainly earned in Canadian and International Banking. Mutual fund and Brokerage fees are primarily earned in Canadian Banking with the remainder being earned in International Banking. Underwriting and other advisory fees are predominantly earned in Global Banking and Markets. (4) Includes income (on a taxable equivalent basis) from investments in associated corporations for Canadian Banking – $11; International Banking – $153 and Other – $(38). (5) Earnings from pension and related insurance business in the Dominican Republic divested in the second quarter of 2019. Refer to Note 22 for further details. These amounts exclude gain/(loss) recognized on divestitures, which is recorded in the Other segment. For the nine months ended July 31, 2019 Taxable equivalent basis ($ millions) Canadian International Global Other (1)(2) Total Net interest income (3) $ 6,146 $ 6,358 $ 1,059 $ (722) $ 12,841 Non-interest (4)(5) 4,181 3,756 2,251 37 10,225 Total revenues 10,327 10,114 3,310 (685 ) 23,066 Provision for credit losses 725 1,574 (26 ) 1 2,274 Non-interest 5,164 5,232 1,832 198 12,426 Provision for income taxes 1,157 744 375 (400 ) 1,876 Net income $ 3,281 $ 2,564 $ 1,129 $ (484 ) $ 6,490 Net income attributable to non-controlling $ – $ 301 $ – $ – $ 301 Net income attributable to equity holders of the Bank $ 3,281 $ 2,263 $ 1,129 $ (484 ) $ 6,189 Represented by: Net income attributable to equity holders of the Bank – relating to divested operations (6) – 12 – – 12 Net income attributable to equity holders of the Bank – relating to operations other than divested operations 3,281 2,251 1,129 (484 ) 6,177 Average assets ($ billions) $ 360 $ 202 $ 366 $ 116 $ 1,044 Average liabilities ($ billions) $ 280 $ 156 $ 300 $ 239 $ 975 (1) Includes all other smaller operating segments and corporate adjustments, such as the elimination of the tax-exempt gross-up non-interest (2) Net income attributable to equity holders includes Net loss on divestitures of $276 (pre-tax (3) Interest income is reported net of interest expense as management relies primarily on net interest income as a performance measure. (4) Card revenues, Banking services fees, and Investment management and trust fees are mainly earned in Canadian and International Banking. Mutual fund and Brokerage fees are primarily earned in Canadian Banking with the remainder being earned in International Banking. Underwriting and other advisory fees are predominantly earned in Global Banking and Markets. (5) Includes income (on a taxable equivalent basis) from investments in associated corporations for Canadian Banking – $47; International Banking – $553 and Other – $(111). (6) Earnings from pension and related insurance business in the Dominican Republic divested in the second quarter of 2019. Refer to Note 22 for further details. These amounts exclude gain/(loss) recognized on divestitures, which is recorded in the Other segment. For the nine months ended July 31, 2018 Taxable equivalent basis ($ millions) Canadian International Global Other (1) Total Net interest income (2) $ 5,869 $ 5,292 $ 1,117 $ (307 ) $ 11,971 Non-interest (3)(4) 4,038 3,007 2,338 (27 ) 9,356 Total revenues 9,907 8,299 3,455 (334 ) 21,327 Provision for credit losses 596 1,455 (30 ) – 2,021 Non-interest 4,907 4,390 1,680 17 10,994 Provision for income taxes 1,155 509 463 (268 ) 1,859 Net income $ 3,249 $ 1,945 $ 1,342 $ (83 ) $ 6,453 Net income attributable to non-controlling $ – $ 84 $ – $ – $ 84 Net income attributable to equity holders of the Bank $ 3,249 $ 1,861 $ 1,342 $ (83 ) $ 6,369 Represented by: Net income attributable to equity holders of the Bank – relating to divested operations (5) – 25 – – 25 Net income attributable to equity holders of the Bank – relating to operations other than divested operations 3,249 1,836 1,342 (83 ) 6,344 Average assets ($ billions) $ 339 $ 159 $ 322 $ 117 $ 937 Average liabilities ($ billions) $ 250 $ 123 $ 267 $ 234 $ 874 (1) Includes all other smaller operating segments and corporate adjustments, such as the elimination of the tax-exempt gross-up non-interest (2) Interest income is reported net of interest expense as management relies primarily on net interest income as a performance measure. (3) Card revenues, Banking services fees, and Investment management and trust fees are mainly earned in Canadian and International Banking. Mutual fund and Brokerage fees are primarily earned in Canadian Banking with the remainder being earned in International Banking. Underwriting and other advisory fees are predominantly earned in Global Banking and Markets. (4) Includes income (on a taxable equivalent basis) from investments in associated corporations for Canadian Banking – $70; International Banking – $442 and Other – $(122). (5) Earnings from pension and related insurance business in the Dominican Republic divested in the second quarter of 2019. Refer to Note 22 for further details. These amounts exclude gain/(loss) recognized on divestitures, which is recorded in the Other segment. |
Interest income and expense (Ta
Interest income and expense (Tables) | 9 Months Ended |
Jul. 31, 2019 | |
Text block [abstract] | |
Details of Interest Income and Interest Expense from Financial Instruments | For the three months ended For the nine months ended July 31, 2019 April 30, 2019 July 31, 2018 July 31, 2019 July 31, 2018 ($ millions) Interest Interest Interest Interest Interest Interest Interest income Interest Interest Interest Measured at amortized cost (1) $ 7,970 $ 4,055 $ 7,641 $ 3,892 $ 6,781 $ 3,004 $ 23,181 $ 11,658 $ 19,335 $ 8,289 Measured at FVOCI (1) 378 – 378 – 299 – 1,109 – 865 – 8,348 4,055 8,019 3,892 7,080 3,004 24,290 11,658 20,200 8,289 Other (2) 92 11 82 16 51 42 242 33 147 87 Total $ 8,440 $ 4,066 $ 8,101 $ 3,908 $ 7,131 $ 3,046 $ 24,532 $ 11,691 $ 20,347 $ 8,376 (1) The interest income/expense on financial assets/liabilities are calculated using the effective interest method. (2) Includes dividend income on equity securities designated at FVOCI. |
Trading revenues (Tables)
Trading revenues (Tables) | 9 Months Ended |
Jul. 31, 2019 | |
Text block [abstract] | |
Summary of Trading Revenue | The following table presents details of trading revenues. For the three months ended For the nine months ended ($ millions) July 31 April 30 July 31 July 31 July 31 Interest rate and credit $ 45 $ 81 $ 72 $ 133 $ 232 Equities 124 123 58 370 310 Commodities 57 45 50 170 185 Foreign exchange 64 59 72 207 223 Other 107 78 53 232 100 Total $ 397 $ 386 $ 305 $ 1,112 $ 1,050 |
Earnings per share (Tables)
Earnings per share (Tables) | 9 Months Ended |
Jul. 31, 2019 | |
Text block [abstract] | |
Summary of Earnings Per Share | For the three months ended For the nine months ended ($ millions) July 31 April 30 July 31 July 31 July 31 Basic earnings per common share Net income attributable to common shareholders $ 1,839 $ 2,125 $ 1,956 $ 6,071 $ 6,247 Weighted average number of common shares outstanding (millions) 1,221 1,224 1,223 1,224 1,207 Basic earnings per common share (1) (in dollars) $ 1.51 $ 1.74 $ 1.60 $ 4.96 $ 5.18 Diluted earnings per common share Net income attributable to common shareholders $ 1,839 $ 2,125 $ 1,956 $ 6,071 $ 6,247 Dilutive impact of share-based payment options and others (2) 40 37 (39 ) 121 (5 ) Net income attributable to common shareholders (diluted) $ 1,879 $ 2,162 $ 1,917 $ 6,192 $ 6,242 Weighted average number of common shares outstanding (millions) 1,221 1,224 1,223 1,224 1,207 Dilutive impact of share-based payment options and others (2) (millions) 30 28 17 29 16 Weighted average number of diluted common shares outstanding (millions) 1,251 1,252 1,240 1,253 1,223 Diluted earnings per common share (1) (in dollars) $ 1.50 $ 1.73 $ 1.55 $ 4.94 $ 5.10 (1) Earnings per share calculations are based on full dollar and share amounts. (2) Certain tandem stock appreciation rights or options as well as acquisition-related put/call options that the Bank may settle at its own discretion by issuing common shares were not included in the calculation of diluted earnings per share as they were anti-dilutive. |
Financial instruments (Tables)
Financial instruments (Tables) | 9 Months Ended |
Jul. 31, 2019 | |
Text block [abstract] | |
Summary of Credit Risk Exposures | Under the standardized approach, credit risk is estimated using the risk weights as prescribed by the Basel framework, either based on credit assessments by external rating agencies or based on the counterparty type for non-retail Exposure at default (1) As at July 31, 2019 April 30 October 31 ($ millions) AIRB Standardized Total Total Total By exposure sub-type Non-retail Drawn (2)(3) $ 364,762 $ 62,734 $ 427,496 $ 434,552 $ 425,009 Undrawn commitments 92,883 3,938 96,821 96,803 92,303 Other exposures (4) 93,538 10,595 104,133 107,021 105,232 Total non-retail $ 551,183 $ 77,267 $ 628,450 $ 638,376 $ 622,544 Retail Drawn (5) $ 203,445 $ 93,647 $ 297,092 $ 289,269 $ 278,605 Undrawn commitments 49,735 – 49,735 48,371 48,085 Total retail $ 253,180 $ 93,647 $ 346,827 $ 337,640 $ 326,690 Total $ 804,363 $ 170,914 $ 975,277 $ 976,016 $ 949,234 (1) After credit risk mitigation and excludes equity securities and other assets. (2) Non-retail (3) Non-retail (4) Includes off-balance over-the-counter (5) Retail drawn includes residential mortgages, credit cards, lines of credit and other personal loans. |
Summary of VaR by Risk Factor | The table below shows the Bank’s VaR by risk factor along with Stressed VaR: For the three months ended As at As at July 31, 2019 July 31 2019 April 30 2019 July 31 2018 ($ millions) Average High Low Credit spread plus interest rate $ 9.8 $ 14.4 $ 7.7 $ 8.9 $ 8.5 $ 7.7 Credit spread 8.1 10.6 5.3 8.7 6.2 6.8 Interest rate 7.2 10.3 5.1 6.3 6.5 7.8 Equities 3.5 7.8 1.0 2.7 4.1 2.7 Foreign exchange 4.0 6.0 2.5 4.2 3.1 3.4 Commodities 2.4 3.5 1.3 3.3 2.6 1.6 Debt specific 3.8 4.8 2.0 3.3 3.7 3.4 Diversification effect (11.6 ) n/a n/a (11.3 ) (12.0 ) (7.3 ) Total VaR $ 11.9 $ 15.7 $ 9.2 $ 11.1 $ 10.0 $ 11.5 Total Stressed VaR $ 37.3 $ 48.9 $ 26.7 $ 27.3 $ 32.0 $ 41.0 |
Fair Value of Financial Assets and Liabilities Designated at Fair Value Through Profit or Loss and Changes in Fair Value | The following table presents the fair value of assets and liabilities designated at fair value through profit or loss and their changes in fair value. Fair value Change in fair value Cumulative change in fair value (1) As at For the three months ended As at ($ millions) July 31 April 30 July 31 July 31 April 30 July 31 July 31 April 30 July 31 Assets Investment securities (2) $ 13 $ 14 $ 15 $ – $ – $ – $ – $ – $ – Liabilities Senior note liabilities (3) $ 11,536 $ 10,919 $ 7,652 $ (18) $ (774) $ (99) $ (190) $ (172) $ 94 (1) The cumulative change in fair value is measured from the instruments’ date of initial recognition. (2) Changes in fair value are recorded in non-interest (3) Changes in fair value attributable to changes in the Bank’s own credit risk are recorded in other comprehensive income. Other changes in fair value are recorded in non-interest |
Changes in Fair Value Attributable to Changes in Bank'S Own Credit Risk for Financial Liabilities Designated at Fair Value | The following table presents the changes in fair value attributable to changes in the Bank’s own credit risk for financial liabilities designated at fair value through profit or loss as well as their contractual maturity and carrying amounts. Senior note liabilities ($ millions) Contractual (1) Carrying value Difference Changes in fair value Cumulative changes (1) As at July 31, 2019 $ 11,346 $ 11,536 $ (190) $ 6 $ (73 ) As at April 30, 2019 $ 10,747 $ 10,919 $ (172 ) $ (43 ) $ (79 ) As at July 31, 2018 $ 7,746 $ 7,652 $ 94 $ 30 $ (20 ) (1) The cumulative change in fair value is measured from the instruments’ date of initial recognition. |
Summary of Fair Values of Financial Instruments of Bank Using Valuation Methods and Assumption | The following table sets out the fair values of financial instruments of the Bank and excludes non-financial As at July 31, 2019 April 30, 2019 October 31, 2018 ($ millions) Total fair Total Total fair Total Total fair Total Assets: Cash and deposits with financial institutions $ 45,262 $ 45,262 $ 50,121 $ 50,121 $ 62,269 $ 62,269 Trading assets 131,068 131,068 117,140 117,140 100,262 100,262 Financial instruments designated at fair value through profit or loss 13 13 14 14 12 12 Securities purchased under resale agreements and securities borrowed 119,478 119,478 126,090 126,090 104,018 104,018 Derivative financial instruments 36,157 36,157 31,358 31,358 37,558 37,558 Investment securities – other 58,366 58,366 61,214 61,214 57,653 57,653 Investment securities – amortized cost 24,318 24,226 23,820 23,932 20,316 20,743 Loans 595,696 589,243 588,619 583,815 553,758 551,834 Customers’ liability under acceptances 13,923 13,923 12,823 12,823 16,329 16,329 Other financial assets 11,237 11,237 12,761 12,761 10,913 10,913 Liabilities: Deposits 723,894 722,346 712,949 712,282 674,535 676,534 Financial instruments designated at fair value through profit or loss 11,536 11,536 10,919 10,919 8,188 8,188 Acceptances 13,932 13,932 12,833 12,833 16,338 16,338 Obligations related to securities sold short 25,669 25,669 29,957 29,957 32,087 32,087 Derivative financial instruments 37,307 37,307 33,176 33,176 37,967 37,967 Obligations related to securities sold under repurchase agreements and securities lent 120,555 120,555 124,331 124,331 101,257 101,257 Subordinated debentures 9,314 9,021 7,801 7,554 5,627 5,698 Other financial liabilities 37,532 36,948 38,030 37,601 35,432 34,805 |
Summary of Fair Value Hierarchy of Instruments Carried at Fair Value on a Recurring Basis | The following table outlines the fair value hierarchy and instruments carried at fair value on a recurring basis. As at July 31, 2019 April 30, 2019 ($ millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Instruments carried at fair value on a recurring basis: Assets: Precious metals (1) $ – $ 3,571 $ 1 $ 3,572 $ – $ 3,504 $ 39 $ 3,543 Trading assets Loans – 14,158 – 14,158 – 13,104 – 13,104 Canadian federal government and government guaranteed debt 13,374 1,557 – 14,931 13,514 1,789 – 15,303 Canadian provincial and municipal debt – 7,776 – 7,776 – 6,892 – 6,892 US treasury and other US agencies’ debt 12,544 – – 12,544 10,974 – – 10,974 Other foreign governments’ debt 6,746 2,981 – 9,727 3,793 2,847 – 6,640 Corporate and other debt 2 10,788 14 10,804 3 9,714 15 9,732 Income funds 40 – – 40 35 – – 35 Equity securities 59,987 179 – 60,166 52,830 719 – 53,549 Other (2) 922 – – 922 911 – – 911 $ 93,615 $ 41,010 $ 15 $ 134,640 $ 82,060 $ 38,569 $ 54 $ 120,683 Financial assets designated at fair value through profit or loss $ 13 $ – $ – $ 13 $ 14 $ – $ – $ 14 Investment securities (3) Canadian federal government and government guaranteed debt 8,202 2,674 – 10,876 6,350 2,565 – 8,915 Canadian provincial and municipal debt 228 2,690 – 2,918 241 2,763 – 3,004 US treasury and other US agencies’ debt 17,686 488 – 18,174 22,198 507 – 22,705 Other foreign governments’ debt 10,035 9,991 31 20,057 8,284 10,531 31 18,846 Corporate and other debt 261 1,431 19 1,711 188 1,698 16 1,902 Mortgage-backed securities – 2,461 – 2,461 – 3,787 – 3,787 Equity securities 1,098 260 811 2,169 1,033 246 776 2,055 $ 37,510 $ 19,995 $ 861 $ 58,366 $ 38,294 $ 22,097 $ 823 $ 61,214 Derivative financial instruments Interest rate contracts $ – $ 13,720 $ 12 $ 13,732 $ – $ 10,459 $ 29 $ 10,488 Foreign exchange and gold contracts 2 18,971 – 18,973 2 16,773 – 16,775 Equity contracts 837 699 1 1,537 778 890 2 1,670 Credit contracts – 192 – 192 – 189 – 189 Commodity contracts 43 1,680 – 1,723 8 2,228 – 2,236 $ 882 $ 35,262 $ 13 $ 36,157 $ 788 $ 30,539 $ 31 $ 31,358 Liabilities: Deposits (4) $ – $ 77 $ – $ 77 $ – $ (51 ) $ – $ (51 ) Financial liabilities designated at fair value through profit or loss – 11,536 – 11,536 – 10,919 – 10,919 Obligations related to securities sold short 22,170 3,499 – 25,669 25,327 4,630 – 29,957 Derivative financial instruments Interest rate contracts – 12,786 22 12,808 – 10,580 20 10,600 Foreign exchange and gold contracts 8 19,558 – 19,566 1 16,502 – 16,503 Equity contracts 887 1,647 – 2,534 865 2,629 2 3,496 Credit contracts – 49 – 49 – 56 – 56 Commodity contracts – 2,350 – 2,350 – 2,521 – 2,521 $ 895 $ 36,390 $ 22 $ 37,307 $ 866 $ 32,288 $ 22 $ 33,176 (1) The fair value of precious metals is determined based on quoted market prices and forward spot prices, where applicable. (2) Represents energy related assets. (3) Excludes debt investment securities measured at amortized cost of $24,226 (April 30, 2019-$23,932). (4) These amounts represent embedded derivatives bifurcated from structured notes. As at October 31, 2018 ($ millions) Level 1 Level 2 Level 3 Total Instruments carried at fair value on a recurring basis: Assets: Precious metals (1) $ – $ 3,175 $ 16 $ 3,191 Trading assets Loans – 14,334 – 14,334 Canadian federal government and government guaranteed debt 13,003 – – 13,003 Canadian provincial and municipal debt – 10,159 – 10,159 US treasury and other US agencies’ debt 7,164 – – 7,164 Other foreign governments’ debt 4,610 1,833 – 6,443 Corporate and other debt 3 8,984 18 9,005 Income funds 29 – – 29 Equity securities 39,513 158 – 39,671 Other (2) 454 – – 454 $ 64,776 $ 38,643 $ 34 $ 103,453 Financial assets designated at fair value through profit or loss $ 12 $ – $ – $ 12 Investment securities (3) Canadian federal government and government guaranteed debt 6,373 2,518 – 8,891 Canadian provincial and municipal debt 366 3,986 – 4,352 US treasury and other US agencies’ debt 18,472 669 – 19,141 Other foreign governments’ debt 10,457 9,485 48 19,990 Corporate and other debt 732 1,818 13 2,563 Mortgage-backed securities – 906 – 906 Equity securities 838 263 709 1,810 $ 37,238 $ 19,645 $ 770 $ 57,653 Derivative financial instruments Interest rate contracts $ – $ 8,927 $ 112 $ 9,039 Foreign exchange and gold contracts 5 22,197 – 22,202 Equity contracts 797 1,556 8 2,361 Credit contracts – 349 – 349 Commodity contracts 92 3,515 – 3,607 $ 894 $ 36,544 $ 120 $ 37,558 Liabilities: Deposits (4) $ – $ (401 ) $ – $ (401 ) Financial liabilities designated at fair value through profit or loss – 8,188 – 8,188 Obligations related to securities sold short 24,563 7,524 – 32,087 Derivative financial instruments Interest rate contracts – 11,012 74 11,086 Foreign exchange and gold contracts – 20,537 – 20,537 Equity contracts 1,057 1,884 5 2,946 Credit contracts – 70 – 70 Commodity contracts 34 3,294 – 3,328 $ 1,091 $ 36,797 $ 79 $ 37,967 (1) The fair value of precious metals is determined based on quoted market prices and forward spot prices. (2) Represents energy related assets. (3) Excludes debt investment securities measured at amortized cost of $20,743. (4) These amounts represent embedded derivatives bifurcated from structured notes. |
Summary of Changes in Level 3 Instruments Carried at Fair Value | The following table summarizes the changes in Level 3 instruments carried at fair value for the three months ended July 31, 2019. All positive balances represent assets and negative balances represent liabilities. Consequently, positive amounts indicate purchases of assets or settlements of liabilities and negative amounts indicate sales of assets or issuances of liabilities. As at July 31, 2019 ($ millions) Fair value, Gains/ Gains/ Purchases/ Sales/ Transfers Fair Changes in (1) Precious metals $ 39 $ – $ – $ – $ (38 ) $ – $ 1 $ – 39 – – – (38 ) – 1 – Trading assets Corporate and other debt 15 – – – (1 ) – 14 – 15 – – – (1 ) – 14 – Investment securities Other foreign governments’ debt 31 – – – – – 31 n/a Corporate and other debt 16 – 3 – – – 19 n/a Equity securities 776 7 8 46 (26 ) – 811 7 823 7 11 46 (26 ) – 861 7 Derivative financial instruments – assets Interest rate contracts 29 (12 ) – – (5 ) – 12 (12 ) Equity contracts 2 – – – – (1 ) 1 – (2) Derivative financial instruments – liabilities Interest rate contracts (20 ) (7 ) – (1 ) 6 – (22 ) (7 ) (3) Equity contracts (2 ) – – – – 2 – – (2) 9 (19 ) – (1 ) 1 1 (9 ) (19 ) Total $ 886 $ (12 ) $ 11 $ 45 $ (64 ) $ 1 $ 867 $ (12 ) (1) These amounts represent the gains and losses from fair value changes of Level 3 instruments still held at the end of the period that are recorded in the Consolidated Statement of Income. (2) Certain unrealized gains and losses on derivative assets and liabilities are largely offset by mark-to-market (3) Certain unrealized losses on interest rate derivative contracts are largely offset by mark-to-market The following tables summarize the changes in Level 3 instruments carried at fair value for the three months ended April 30, 2019 and October 31, 2018: As at April 30, 2019 ($ millions) Fair value, Gains/ (1) Gains/ Purchases/ Sales/ Transfers Fair Precious metals $ 14 $ – $ – $ 25 $ – $ – $ 39 Trading assets 18 – – – (7 ) 4 15 Investment securities 749 5 17 92 (36 ) (4 ) 823 Derivative financial instruments 9 (2 ) – – – 2 9 (1) Gains or losses for items in Level 3 may be offset with losses or gains on related hedges in Level 1 or Level 2. As at October 31, 2018 ($ millions) Fair value, Gains/ (1) Gains/ Purchases/ Sales/ Transfers Fair Precious metals $ 11 $ – $ – $ 5 $ – $ – $ 16 Trading assets 20 – – – (2 ) – 18 Investment securities 750 9 – 70 (39 ) (20 ) 770 Derivative financial instruments 28 2 – – – 11 41 (1) Gains or losses for items in Level 3 may be offset with losses or gains on related hedges in Level 1 or Level 2. |
Acquisitions and divestitures (
Acquisitions and divestitures (Tables) | 9 Months Ended |
Jul. 31, 2019 | |
Text block [abstract] | |
Summary of Dividend Record and Payment Dates | Record and payment dates for common and preferred shares, subject to approval by the Board of Directors. Record Date Payment Date January 2, 2019 January 29, 2019 April 2, 2019 April 26, 2019 July 2, 2019 July 29, 2019 October 1, 2019 October 29, 2019 |
Transition to IFRS 15 - Additio
Transition to IFRS 15 - Additional Information (Detail) - Increase (decrease) due to application of IFRS 15 [member] - CAD ($) $ in Millions | Nov. 01, 2018 | Apr. 30, 2019 | Jul. 31, 2019 |
Disclosure of expected impact of initial application of new standards or interpretations [line items] | |||
Cumulative effect adjustment to decrease in retained earnings net of tax | $ (58) | ||
Non-interest expenses decreased | $ (105) | $ 155 | |
Non-interest income decreased | $ (105) | $ 155 |
Cash and Deposits with Financ_3
Cash and Deposits with Financial Institutions - Summary of Cash and Deposits with Financial Institutions (Detail) - CAD ($) $ in Millions | Jul. 31, 2019 | Apr. 30, 2019 | Oct. 31, 2018 | Jul. 31, 2018 | Apr. 30, 2018 | Oct. 31, 2017 | |
Disclosure Of Cash And Cash Equivalents [abstract] | |||||||
Cash and non-interest-bearing deposits with financial institutions | [1] | $ 10,548 | $ 9,660 | $ 8,997 | $ 7,998 | $ 7,386 | $ 7,825 |
Interest-bearing deposits with financial institutions | 34,714 | 40,461 | 53,272 | ||||
Total | [2] | $ 45,262 | $ 50,121 | $ 62,269 | |||
[1] | Represents cash and non-interest-bearing deposits with financial institutions (refer to Note 6). | ||||||
[2] | Net of impairment allowances of $3 (April 30, 2019 - $4; October 31, 2018 - $3). |
Cash and Deposits with Financ_4
Cash and Deposits with Financial Institutions - Summary of Cash and Deposits with Financial Institutions (Parenthetical) (Detail) - CAD ($) $ in Millions | Jul. 31, 2019 | Apr. 30, 2019 | Oct. 31, 2018 |
Cash And Deposits With Financial Institutions [member] | |||
Cash And Cash Equivalents And Short-term Deposits [line items] | |||
Net of impairment allowances | $ 3 | $ 4 | $ 3 |
Cash and Deposits with Financ_5
Cash and Deposits with Financial Institutions - Additional Information (Detail) - CAD ($) $ in Millions | Jul. 31, 2019 | Apr. 30, 2019 | Oct. 31, 2018 |
Mandatory Reserve Deposits At Central Banks [abstract] | |||
Cash balances required to maintain with central banks, other regulatory authorities and certain counterparties | $ 10,396 | $ 9,755 | $ 8,886 |
Investment Securities - Disclos
Investment Securities - Disclosure of Carrying Value of Banks Investment Securities Per Measurement Category (Detail) - CAD ($) $ in Millions | Jul. 31, 2019 | Apr. 30, 2019 | Oct. 31, 2018 |
Disclosure of financial assets [line items] | |||
Investment securities | $ 82,592 | $ 85,146 | $ 78,396 |
Debt Investments [member] | Financial assets measured at fair value through other comprehensive income, category [member] | |||
Disclosure of financial assets [line items] | |||
Investment securities | 56,197 | 59,159 | 55,843 |
Debt Investments [member] | Financial assets at amortised cost, category [member] | |||
Disclosure of financial assets [line items] | |||
Investment securities | 24,226 | 23,932 | 20,743 |
Equity securities [member] | Investments in equity instruments designated at fair value through other comprehensive income [member] | |||
Disclosure of financial assets [line items] | |||
Investment securities | 1,559 | 1,500 | 1,305 |
Equity securities [member] | Financial assets at fair value through profit or loss, category [member] | |||
Disclosure of financial assets [line items] | |||
Investment securities | $ 610 | $ 555 | $ 505 |
Investment Securities - Discl_2
Investment Securities - Disclosure of Unrealized Gains and Losses on Fair Value Through Other Comprehensive Income Securities (Detail) - Financial assets measured at fair value through other comprehensive income, category [member] - CAD ($) $ in Millions | Jul. 31, 2019 | Apr. 30, 2019 | Oct. 31, 2018 |
Disclosure of financial assets [line items] | |||
Cost | $ 55,570 | $ 58,815 | $ 56,129 |
Gross unrealized gains | 681 | 451 | 102 |
Gross unrealized losses | 54 | 107 | 388 |
Fair value | 56,197 | 59,159 | 55,843 |
Canadian federal government issued or guaranteed debt [member] | |||
Disclosure of financial assets [line items] | |||
Cost | 10,690 | 8,774 | 8,903 |
Gross unrealized gains | 198 | 147 | 38 |
Gross unrealized losses | 12 | 6 | 50 |
Fair value | 10,876 | 8,915 | 8,891 |
Canadian provincial and municipal debt [member] | |||
Disclosure of financial assets [line items] | |||
Cost | 2,894 | 2,995 | 4,403 |
Gross unrealized gains | 31 | 20 | 3 |
Gross unrealized losses | 7 | 11 | 54 |
Fair value | 2,918 | 3,004 | 4,352 |
U.S. treasury and other U.S. agency debt [member] | |||
Disclosure of financial assets [line items] | |||
Cost | 17,880 | 22,546 | 19,298 |
Gross unrealized gains | 302 | 196 | 6 |
Gross unrealized losses | 8 | 37 | 163 |
Fair value | 18,174 | 22,705 | 19,141 |
Other foreign government debt [member] | |||
Disclosure of financial assets [line items] | |||
Cost | 19,950 | 18,806 | 20,022 |
Gross unrealized gains | 124 | 72 | 49 |
Gross unrealized losses | 17 | 32 | 81 |
Fair value | 20,057 | 18,846 | 19,990 |
Other debt [member] | |||
Disclosure of financial assets [line items] | |||
Cost | 4,156 | 5,694 | 3,503 |
Gross unrealized gains | 26 | 16 | 6 |
Gross unrealized losses | 10 | 21 | 40 |
Fair value | $ 4,172 | $ 5,689 | $ 3,469 |
Investment Securities - Summary
Investment Securities - Summary of Analysis of Fair Value and Carrying Value of Investment Securities Measured at Amortized Cost (Detail) - CAD ($) $ in Millions | Jul. 31, 2019 | Apr. 30, 2019 | Oct. 31, 2018 | |
Financial assets at fair value, investment securities [member] | ||||
Disclosure of financial assets [line items] | ||||
Cost | $ 24,318 | $ 23,820 | $ 20,316 | |
Financial assets at fair value, investment securities [member] | Canadian federal government issued or guaranteed debt [member] | ||||
Disclosure of financial assets [line items] | ||||
Cost | 5,278 | 5,806 | 6,530 | |
Financial assets at fair value, investment securities [member] | U.S. treasury and other U.S. agency debt [member] | ||||
Disclosure of financial assets [line items] | ||||
Cost | 3,726 | 4,002 | 4,321 | |
Financial assets at fair value, investment securities [member] | Other foreign government debt [member] | ||||
Disclosure of financial assets [line items] | ||||
Cost | 2,487 | 2,990 | 3,086 | |
Financial assets at fair value, investment securities [member] | Corporate debt [member] | ||||
Disclosure of financial assets [line items] | ||||
Cost | 12,827 | 11,022 | 6,379 | |
Financial assets at carrying value, investment securities [member] | ||||
Disclosure of financial assets [line items] | ||||
Cost | [1] | 24,226 | 23,932 | 20,743 |
Financial assets at carrying value, investment securities [member] | Canadian federal government issued or guaranteed debt [member] | ||||
Disclosure of financial assets [line items] | ||||
Cost | [1] | 5,317 | 5,859 | 6,681 |
Financial assets at carrying value, investment securities [member] | U.S. treasury and other U.S. agency debt [member] | ||||
Disclosure of financial assets [line items] | ||||
Cost | [1] | 3,766 | 4,074 | 4,462 |
Financial assets at carrying value, investment securities [member] | Other foreign government debt [member] | ||||
Disclosure of financial assets [line items] | ||||
Cost | [1] | 2,488 | 3,006 | 3,131 |
Financial assets at carrying value, investment securities [member] | Corporate debt [member] | ||||
Disclosure of financial assets [line items] | ||||
Cost | [1] | $ 12,655 | $ 10,993 | $ 6,469 |
[1] | Balances are net of impairment allowances of $1 (April 30, 2019 - nil; October 31, 2018 - $1). |
Investment Securities - Summa_2
Investment Securities - Summary of Analysis of Fair Value and Carrying Value of Investment Securities Measured at Amortized Cost (Parenthetical) (Detail) - CAD ($) $ in Millions | Jul. 31, 2019 | Apr. 30, 2019 | Oct. 31, 2018 |
Financial assets at carrying value, investment securities [member] | |||
Disclosure of financial assets [line items] | |||
Net impairment allowances | $ 1 | $ 0 | $ 1 |
Investment Securities - Summa_3
Investment Securities - Summary of Equity Investment Securities Designated as at Fair Value Through Other Comprehensive Income (Detail) - Investments in equity instruments designated at fair value through other comprehensive income [member] - CAD ($) $ in Millions | Jul. 31, 2019 | Apr. 30, 2019 | Oct. 31, 2018 |
Disclosure of financial assets [line items] | |||
Cost | $ 1,425 | $ 1,388 | $ 1,271 |
Gross unrealized gains | 195 | 174 | 126 |
Gross unrealized losses | 61 | 62 | 92 |
Fair value | 1,559 | 1,500 | 1,305 |
Preferred equity instruments [member] | |||
Disclosure of financial assets [line items] | |||
Cost | 145 | 145 | 334 |
Gross unrealized gains | 2 | 2 | |
Gross unrealized losses | 50 | 48 | 54 |
Fair value | 97 | 99 | 280 |
Common shares [member] | |||
Disclosure of financial assets [line items] | |||
Cost | 1,280 | 1,243 | 937 |
Gross unrealized gains | 193 | 172 | 126 |
Gross unrealized losses | 11 | 14 | 38 |
Fair value | $ 1,462 | $ 1,401 | $ 1,025 |
Loans, Impaired Loans and All_3
Loans, Impaired Loans and Allowance for Credit Losses - Schedule of Loans at Amortized Cost (Detail) - CAD ($) $ in Millions | Jul. 31, 2019 | Apr. 30, 2019 | Oct. 31, 2018 |
Gross carrying amount [member] | |||
Disclosure of fair value financial assets amortised cost [line items] | |||
Financial assets | $ 594,437 | $ 589,110 | $ 556,899 |
Gross carrying amount [member] | Residential mortgages [member] | |||
Disclosure of fair value financial assets amortised cost [line items] | |||
Financial assets | 265,170 | 260,586 | 253,357 |
Gross carrying amount [member] | Loans to consumers [member] | |||
Disclosure of fair value financial assets amortised cost [line items] | |||
Financial assets | 98,679 | 97,874 | 96,019 |
Gross carrying amount [member] | Credit Card [member] | |||
Disclosure of fair value financial assets amortised cost [line items] | |||
Financial assets | 17,933 | 17,730 | 16,485 |
Gross carrying amount [member] | Business and government [member] | |||
Disclosure of fair value financial assets amortised cost [line items] | |||
Financial assets | 212,655 | 212,920 | 191,038 |
Net Carrying Amount [member] | |||
Disclosure of fair value financial assets amortised cost [line items] | |||
Financial assets | 589,243 | 583,815 | 551,834 |
Net Carrying Amount [member] | Residential mortgages [member] | |||
Disclosure of fair value financial assets amortised cost [line items] | |||
Financial assets | 264,449 | 259,852 | 252,679 |
Net Carrying Amount [member] | Loans to consumers [member] | |||
Disclosure of fair value financial assets amortised cost [line items] | |||
Financial assets | 96,581 | 95,757 | 93,910 |
Net Carrying Amount [member] | Credit Card [member] | |||
Disclosure of fair value financial assets amortised cost [line items] | |||
Financial assets | 16,640 | 16,370 | 15,272 |
Net Carrying Amount [member] | Business and government [member] | |||
Disclosure of fair value financial assets amortised cost [line items] | |||
Financial assets | 211,573 | 211,836 | 189,973 |
Financial assets individually assessed for credit losses [member] | |||
Disclosure of fair value financial assets amortised cost [line items] | |||
Financial assets | 5,194 | 5,295 | 5,065 |
Financial assets individually assessed for credit losses [member] | Residential mortgages [member] | |||
Disclosure of fair value financial assets amortised cost [line items] | |||
Financial assets | 721 | 734 | 678 |
Financial assets individually assessed for credit losses [member] | Loans to consumers [member] | |||
Disclosure of fair value financial assets amortised cost [line items] | |||
Financial assets | 2,098 | 2,117 | 2,109 |
Financial assets individually assessed for credit losses [member] | Credit Card [member] | |||
Disclosure of fair value financial assets amortised cost [line items] | |||
Financial assets | 1,293 | 1,360 | 1,213 |
Financial assets individually assessed for credit losses [member] | Business and government [member] | |||
Disclosure of fair value financial assets amortised cost [line items] | |||
Financial assets | $ 1,082 | $ 1,084 | $ 1,065 |
Loans, Impaired Loans and All_4
Loans, Impaired Loans and Allowance for Credit Losses - Impaired Loans (Detail) - CAD ($) $ in Millions | Jul. 31, 2019 | Apr. 30, 2019 | Oct. 31, 2018 |
Disclosure of detailed information about financial instruments [line items] | |||
Gross impaired loans | $ 594,437 | $ 589,110 | $ 556,899 |
Allowance for credit losses | 5,194 | 5,295 | 5,065 |
Net | 589,243 | 583,815 | 551,834 |
Residential mortgages [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gross impaired loans | 265,170 | 253,357 | |
Allowance for credit losses | 721 | 678 | |
Net | 264,449 | 252,679 | |
Loans to consumers [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gross impaired loans | 98,679 | 96,019 | |
Allowance for credit losses | 2,098 | 2,109 | |
Net | 96,581 | 93,910 | |
Business and government [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gross impaired loans | 212,655 | 191,038 | |
Allowance for credit losses | 1,082 | 1,065 | |
Net | 211,573 | 189,973 | |
Financial instruments credit-impaired [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gross impaired loans | 5,229 | 5,364 | 5,130 |
Allowance for credit losses | 1,670 | 1,669 | 1,677 |
Net | 3,559 | 3,695 | 3,453 |
Financial instruments credit-impaired [member] | Canada [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gross impaired loans | 1,078 | 1,078 | 999 |
Allowance for credit losses | 373 | 371 | 381 |
Net | 705 | 707 | 618 |
Financial instruments credit-impaired [member] | United States [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gross impaired loans | 97 | 129 | 80 |
Allowance for credit losses | 11 | 17 | 25 |
Net | 86 | 112 | 55 |
Financial instruments credit-impaired [member] | Mexico [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gross impaired loans | 479 | 463 | 359 |
Allowance for credit losses | 190 | 188 | 164 |
Net | 289 | 275 | 195 |
Financial instruments credit-impaired [member] | Peru [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gross impaired loans | 638 | 639 | 581 |
Allowance for credit losses | 340 | 325 | 317 |
Net | 298 | 314 | 264 |
Financial instruments credit-impaired [member] | Chile [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gross impaired loans | 816 | 842 | 753 |
Allowance for credit losses | 192 | 172 | 158 |
Net | 624 | 670 | 595 |
Financial instruments credit-impaired [member] | Colombia [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gross impaired loans | 546 | 578 | 619 |
Allowance for credit losses | 152 | 154 | 159 |
Net | 394 | 424 | 460 |
Financial instruments credit-impaired [member] | Other International [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gross impaired loans | 1,575 | 1,635 | 1,739 |
Allowance for credit losses | 412 | 442 | 473 |
Net | 1,163 | 1,193 | 1,266 |
Financial instruments credit-impaired [member] | Residential mortgages [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gross impaired loans | 1,910 | 1,922 | 1,797 |
Allowance for credit losses | 364 | 368 | 360 |
Net | 1,546 | 1,554 | 1,437 |
Financial instruments credit-impaired [member] | Loans to consumers [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gross impaired loans | 1,091 | 1,131 | 1,069 |
Allowance for credit losses | 628 | 627 | 644 |
Net | 463 | 504 | 425 |
Financial instruments credit-impaired [member] | Business and government [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gross impaired loans | 2,228 | 2,311 | 2,264 |
Allowance for credit losses | 678 | 674 | 673 |
Net | $ 1,550 | $ 1,637 | $ 1,591 |
Loans, Impaired Loans and All_5
Loans, Impaired Loans and Allowance for Credit Losses - Impaired Loans (Parenthetical) (Detail) - CAD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
Jul. 31, 2019 | Apr. 30, 2019 | Oct. 31, 2018 | |
Impaired loans [abstract] | |||
Interest income recognized on impaired loans | $ 13 | $ 12 | $ 12 |
Interest income, not classified as impaired loans | $ 98 | $ 100 | $ 93 |
Loans, Impaired Loans and All_6
Loans, Impaired Loans and Allowance for Credit Losses - Allowance For Credit Losses (Detail) - CAD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Jul. 31, 2019 | Apr. 30, 2019 | Jul. 31, 2019 | Jul. 31, 2018 | |
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | $ 5,147 | $ 5,020 | ||
Provision for credit losses | ||||
Provision for credit losses | 2,274 | 2,031 | ||
Net write-offs | (2,193) | (1,716) | ||
Other, including foreign currency adjustment | 35 | 73 | ||
Balance at end of period | $ 5,263 | 5,263 | 5,408 | |
Allowance for credit losses [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 5,065 | 4,920 | ||
Provision for credit losses | ||||
Balance at end of period | 5,194 | 5,194 | 5,323 | |
Allowance for credit losses on acceptances [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 8 | 16 | ||
Provision for credit losses | ||||
Balance at end of period | 8 | 8 | 8 | |
Allowance for credit losses on off balance sheet exposures [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 74 | 84 | ||
Provision for credit losses | ||||
Balance at end of period | 61 | 61 | 77 | |
Residential mortgages [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 734 | $ 709 | 678 | 717 |
Provision for credit losses | ||||
Remeasurement | 12 | 17 | 42 | |
Newly originated or purchased financial assets | 14 | 12 | 49 | |
Derecognition of financial assets and maturities | (2) | (2) | (8) | |
Provision for credit losses | 83 | 102 | ||
Gross write-offs | (27) | (23) | (70) | |
Net write-offs | (51) | (60) | ||
Recoveries | 6 | 11 | 19 | |
Other, including foreign currency adjustment | 11 | 4 | ||
Foreign exchange and other movements | (16) | 10 | 11 | |
Balance at end of period | 721 | 734 | 721 | 763 |
Residential mortgages [member] | Allowance for credit losses [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 678 | |||
Provision for credit losses | ||||
Balance at end of period | 721 | 721 | 763 | |
Loans to consumers [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 2,117 | 2,111 | 2,109 | 1,879 |
Provision for credit losses | ||||
Remeasurement | 315 | 283 | 890 | |
Newly originated or purchased financial assets | 112 | 123 | 353 | |
Derecognition of financial assets and maturities | (47) | (43) | (134) | |
Provision for credit losses | 1,109 | 1,077 | ||
Gross write-offs | (459) | (438) | (1,377) | |
Net write-offs | (1,160) | (861) | ||
Recoveries | 75 | 70 | 217 | |
Other, including foreign currency adjustment | 40 | 41 | ||
Foreign exchange and other movements | (15) | 11 | 40 | |
Balance at end of period | 2,098 | 2,117 | 2,098 | 2,136 |
Loans to consumers [member] | Allowance for credit losses [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 2,109 | |||
Provision for credit losses | ||||
Balance at end of period | 2,098 | 2,098 | 2,136 | |
Credit Card [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 1,360 | 1,212 | 1,213 | 1,163 |
Provision for credit losses | ||||
Remeasurement | 223 | 283 | 716 | |
Newly originated or purchased financial assets | 48 | 171 | 265 | |
Derecognition of financial assets and maturities | (32) | (31) | (94) | |
Provision for credit losses | 887 | 671 | ||
Gross write-offs | (334) | (335) | (981) | |
Net write-offs | (815) | (624) | ||
Recoveries | 56 | 55 | 166 | |
Other, including foreign currency adjustment | 8 | 49 | ||
Foreign exchange and other movements | (28) | 5 | 8 | |
Balance at end of period | 1,293 | 1,360 | 1,293 | 1,259 |
Credit Card [member] | Allowance for credit losses [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 1,213 | |||
Provision for credit losses | ||||
Balance at end of period | 1,293 | 1,293 | 1,259 | |
Business and government [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 1,147 | 1,261 | ||
Provision for credit losses | ||||
Remeasurement | 74 | 69 | 208 | |
Newly originated or purchased financial assets | 50 | 41 | 130 | |
Derecognition of financial assets and maturities | (49) | (50) | (141) | |
Changes in models and methodologies | (4) | (4) | ||
Provision for credit losses | 195 | 181 | ||
Gross write-offs | (70) | (67) | (202) | |
Net write-offs | (167) | (171) | ||
Recoveries | 8 | 11 | 35 | |
Other, including foreign currency adjustment | (24) | (21) | ||
Foreign exchange and other movements | (13) | (5) | (22) | |
Balance at end of period including off-balance sheet exposures | 1,143 | 1,147 | 1,143 | |
Less: Allowance for credits losses on off-balance sheet exposures | (61) | (63) | (61) | |
Balance at end of period | 1,151 | 1,151 | 1,250 | |
Business and government [member] | Allowance for credit losses [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 1,065 | |||
Provision for credit losses | ||||
Balance at end of period | 1,082 | 1,082 | 1,165 | |
Business and government [member] | Gross carrying amount [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 1,147 | 1,148 | 1,139 | |
Provision for credit losses | ||||
Balance at end of period | 1,147 | |||
Business and government [member] | Net amount [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 1,084 | |||
Provision for credit losses | ||||
Balance at end of period | 1,082 | 1,084 | 1,082 | |
Stage 1 [member] | Allowance for credit losses [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 1,223 | |||
Provision for credit losses | ||||
Balance at end of period | 1,331 | 1,331 | 1,493 | |
Stage 1 [member] | Residential mortgages [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 129 | 121 | 112 | |
Provision for credit losses | ||||
Remeasurement | (25) | (17) | (66) | |
Newly originated or purchased financial assets | 14 | 12 | 49 | |
Derecognition of financial assets and maturities | (1) | |||
Transfer to (from)stage 1 | 13 | 15 | 40 | |
Transfer to (from)stage 2 | (3) | (3) | (11) | |
Foreign exchange and other movements | (1) | 1 | 4 | |
Balance at end of period | 127 | 129 | 127 | |
Stage 1 [member] | Residential mortgages [member] | Allowance for credit losses [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 112 | |||
Provision for credit losses | ||||
Balance at end of period | 127 | 127 | 156 | |
Stage 1 [member] | Loans to consumers [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 609 | 596 | 578 | |
Provision for credit losses | ||||
Remeasurement | (157) | (155) | (464) | |
Newly originated or purchased financial assets | 112 | 123 | 353 | |
Derecognition of financial assets and maturities | (21) | (20) | (60) | |
Transfer to (from)stage 1 | 121 | 110 | 339 | |
Transfer to (from)stage 2 | (50) | (48) | (144) | |
Transfer to (from)stage 3 | (1) | (1) | (3) | |
Foreign exchange and other movements | (11) | 4 | 3 | |
Balance at end of period | 602 | 609 | 602 | |
Stage 1 [member] | Loans to consumers [member] | Allowance for credit losses [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 578 | |||
Provision for credit losses | ||||
Balance at end of period | 602 | 602 | 712 | |
Stage 1 [member] | Credit Card [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 458 | 410 | 401 | |
Provision for credit losses | ||||
Remeasurement | (66) | (141) | (275) | |
Newly originated or purchased financial assets | 48 | 171 | 265 | |
Derecognition of financial assets and maturities | (15) | (15) | (44) | |
Transfer to (from)stage 1 | 62 | 63 | 194 | |
Transfer to (from)stage 2 | (35) | (32) | (99) | |
Foreign exchange and other movements | (9) | 2 | 1 | |
Balance at end of period | 443 | 458 | 443 | |
Stage 1 [member] | Credit Card [member] | Allowance for credit losses [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 401 | |||
Provision for credit losses | ||||
Balance at end of period | 443 | 443 | 471 | |
Stage 1 [member] | Business and government [member] | ||||
Provision for credit losses | ||||
Remeasurement | (5) | (8) | (30) | |
Newly originated or purchased financial assets | 50 | 41 | 130 | |
Derecognition of financial assets and maturities | (40) | (38) | (105) | |
Changes in models and methodologies | (2) | (2) | ||
Transfer to (from)stage 1 | 9 | 7 | 47 | |
Transfer to (from)stage 2 | (3) | (3) | (11) | |
Foreign exchange and other movements | (4) | 2 | 1 | |
Balance at end of period including off-balance sheet exposures | 203 | 198 | 203 | |
Less: Allowance for credits losses on off-balance sheet exposures | (44) | (41) | (44) | |
Stage 1 [member] | Business and government [member] | Allowance for credit losses [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 132 | |||
Provision for credit losses | ||||
Balance at end of period | 159 | 159 | 154 | |
Stage 1 [member] | Business and government [member] | Gross carrying amount [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 198 | 197 | 173 | |
Provision for credit losses | ||||
Balance at end of period | 198 | |||
Stage 1 [member] | Business and government [member] | Net amount [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 157 | |||
Provision for credit losses | ||||
Balance at end of period | 159 | 157 | 159 | |
Stage 2 [member] | Allowance for credit losses [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 2,165 | |||
Provision for credit losses | ||||
Balance at end of period | 2,193 | 2,193 | 2,055 | |
Stage 2 [member] | Residential mortgages [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 237 | 226 | 206 | |
Provision for credit losses | ||||
Remeasurement | 1 | 7 | 16 | |
Derecognition of financial assets and maturities | (2) | (2) | (7) | |
Transfer to (from)stage 1 | (13) | (13) | (37) | |
Transfer to (from)stage 2 | 25 | 27 | 80 | |
Transfer to (from)stage 3 | (11) | (10) | (30) | |
Foreign exchange and other movements | (7) | 2 | 2 | |
Balance at end of period | 230 | 237 | 230 | |
Stage 2 [member] | Residential mortgages [member] | Allowance for credit losses [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 206 | |||
Provision for credit losses | ||||
Balance at end of period | 230 | 230 | 193 | |
Stage 2 [member] | Loans to consumers [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 881 | 875 | 887 | |
Provision for credit losses | ||||
Remeasurement | 130 | 138 | 408 | |
Derecognition of financial assets and maturities | (26) | (23) | (74) | |
Transfer to (from)stage 1 | (118) | (107) | (332) | |
Transfer to (from)stage 2 | 69 | 70 | 205 | |
Transfer to (from)stage 3 | (83) | (79) | (241) | |
Foreign exchange and other movements | 15 | 7 | 15 | |
Balance at end of period | 868 | 881 | 868 | |
Stage 2 [member] | Loans to consumers [member] | Allowance for credit losses [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 887 | |||
Provision for credit losses | ||||
Balance at end of period | 868 | 868 | 816 | |
Stage 2 [member] | Credit Card [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 902 | 802 | 812 | |
Provision for credit losses | ||||
Remeasurement | 84 | 220 | 412 | |
Derecognition of financial assets and maturities | (17) | (16) | (50) | |
Transfer to (from)stage 1 | (62) | (63) | (194) | |
Transfer to (from)stage 2 | 35 | 32 | 99 | |
Transfer to (from)stage 3 | (70) | (71) | (211) | |
Foreign exchange and other movements | (22) | (2) | (18) | |
Balance at end of period | 850 | 902 | 850 | |
Stage 2 [member] | Credit Card [member] | Allowance for credit losses [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 812 | |||
Provision for credit losses | ||||
Balance at end of period | 850 | 850 | 788 | |
Stage 2 [member] | Business and government [member] | ||||
Provision for credit losses | ||||
Remeasurement | 4 | 13 | 30 | |
Derecognition of financial assets and maturities | (6) | (4) | (18) | |
Changes in models and methodologies | (2) | (2) | ||
Transfer to (from)stage 1 | (9) | (7) | (47) | |
Transfer to (from)stage 2 | 4 | 3 | 14 | |
Transfer to (from)stage 3 | (1) | (3) | (6) | |
Foreign exchange and other movements | (2) | |||
Balance at end of period including off-balance sheet exposures | 262 | 274 | 262 | |
Less: Allowance for credits losses on off-balance sheet exposures | (17) | (21) | (17) | |
Stage 2 [member] | Business and government [member] | Allowance for credit losses [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 260 | |||
Provision for credit losses | ||||
Balance at end of period | 245 | 245 | 258 | |
Stage 2 [member] | Business and government [member] | Gross carrying amount [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 274 | 272 | 291 | |
Provision for credit losses | ||||
Balance at end of period | 274 | |||
Stage 2 [member] | Business and government [member] | Net amount [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 253 | |||
Provision for credit losses | ||||
Balance at end of period | 245 | 253 | 245 | |
Stage 3 [member] | Allowance for credit losses [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 1,677 | |||
Provision for credit losses | ||||
Balance at end of period | 1,670 | 1,670 | 1,775 | |
Stage 3 [member] | Residential mortgages [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 368 | 362 | 360 | |
Provision for credit losses | ||||
Remeasurement | 36 | 27 | 92 | |
Transfer to (from)stage 1 | (2) | (3) | ||
Transfer to (from)stage 2 | (22) | (24) | (69) | |
Transfer to (from)stage 3 | 11 | 10 | 30 | |
Gross write-offs | (27) | (23) | (70) | |
Recoveries | 6 | 11 | 19 | |
Foreign exchange and other movements | (8) | 7 | 5 | |
Balance at end of period | 364 | 368 | 364 | |
Stage 3 [member] | Residential mortgages [member] | Allowance for credit losses [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 360 | |||
Provision for credit losses | ||||
Balance at end of period | 364 | 364 | 414 | |
Stage 3 [member] | Loans to consumers [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 627 | 640 | 644 | |
Provision for credit losses | ||||
Remeasurement | 342 | 300 | 946 | |
Transfer to (from)stage 1 | (3) | (3) | (7) | |
Transfer to (from)stage 2 | (19) | (22) | (61) | |
Transfer to (from)stage 3 | 84 | 80 | 244 | |
Gross write-offs | (459) | (438) | (1,377) | |
Recoveries | 75 | 70 | 217 | |
Foreign exchange and other movements | (19) | 22 | ||
Balance at end of period | 628 | 627 | 628 | |
Stage 3 [member] | Loans to consumers [member] | Allowance for credit losses [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 644 | |||
Provision for credit losses | ||||
Balance at end of period | 628 | 628 | 608 | |
Stage 3 [member] | Credit Card [member] | ||||
Provision for credit losses | ||||
Remeasurement | 205 | 204 | 579 | |
Transfer to (from)stage 3 | 70 | 71 | 211 | |
Gross write-offs | (334) | (335) | (981) | |
Recoveries | 56 | 55 | 166 | |
Foreign exchange and other movements | 3 | 5 | 25 | |
Stage 3 [member] | Business and government [member] | ||||
Provision for credit losses | ||||
Remeasurement | 75 | 64 | 208 | |
Derecognition of financial assets and maturities | (3) | (8) | (18) | |
Transfer to (from)stage 2 | (1) | (3) | ||
Transfer to (from)stage 3 | 1 | 3 | 6 | |
Gross write-offs | (70) | (67) | (202) | |
Recoveries | 8 | 11 | 35 | |
Foreign exchange and other movements | (7) | (7) | (23) | |
Balance at end of period including off-balance sheet exposures | 678 | 675 | 678 | |
Less: Allowance for credits losses on off-balance sheet exposures | (1) | |||
Stage 3 [member] | Business and government [member] | Allowance for credit losses [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 673 | |||
Provision for credit losses | ||||
Balance at end of period | 678 | 678 | $ 753 | |
Stage 3 [member] | Business and government [member] | Gross carrying amount [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 675 | 679 | 675 | |
Provision for credit losses | ||||
Balance at end of period | 675 | |||
Stage 3 [member] | Business and government [member] | Net amount [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 674 | |||
Provision for credit losses | ||||
Balance at end of period | $ 678 | $ 674 | $ 678 |
Loans, Impaired Loans and All_7
Loans, Impaired Loans and Allowance for Credit Losses - Allowance For Credit Losses (Parenthetical) (Detail) - CAD ($) $ in Millions | 3 Months Ended | 6 Months Ended | 9 Months Ended | ||||||||
Jul. 31, 2019 | Apr. 30, 2019 | [2] | Jul. 31, 2018 | Apr. 30, 2019 | Jul. 31, 2019 | Jul. 31, 2018 | Oct. 31, 2018 | ||||
Disclosure of detailed information about financial instruments [line items] | |||||||||||
Allowance for credit losses for other financial assets | $ 79 | $ 93 | $ 79 | $ 93 | $ 89 | ||||||
Interest income on impaired loans | [1] | $ 7,490 | [2] | $ 7,164 | $ 6,332 | 21,745 | [2] | $ 18,114 | |||
Gross impaired loans [member] | |||||||||||
Disclosure of detailed information about financial instruments [line items] | |||||||||||
Interest income on impaired loans | $ 100 | $ 98 | |||||||||
[1] | Includes interest income on financial assets measured at amortized cost and FVOCI, calculated using the effective interest method, of $8,348 for the three months ended July 31, 2019 (April 30, 2019 - $8,019; July 31, 2018 - $7,080) and for the nine months ended July 31, 2019 - $24,290 (July 31, 2018 - $20,200). | ||||||||||
[2] | The amounts for the periods ended July 31, 2019 and April 30, 2019 have been prepared in accordance with IFRS 15; prior period amounts have not been restated (refer to Notes 3 and 4). |
Loans, Impaired Loans and All_8
Loans, Impaired Loans and Allowance for Credit Losses - Summary of Carrying Value of Exposures by Risk Rating (Detail) - CAD ($) $ in Millions | Jul. 31, 2019 | Apr. 30, 2019 | Oct. 31, 2018 |
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | $ 594,437 | $ 589,110 | $ 556,899 |
Allowance for credit losses | 5,194 | 5,295 | 5,065 |
Carrying value of loans net of ACL | 589,243 | $ 583,815 | 551,834 |
Residential mortgages [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 265,170 | 253,357 | |
Allowance for credit losses | 721 | 678 | |
Carrying value of loans net of ACL | 264,449 | 252,679 | |
Residential mortgages [member] | Very low probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 150,452 | 146,768 | |
Residential mortgages [member] | Low probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 59,616 | 58,532 | |
Residential mortgages [member] | Medium probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 15,002 | 12,661 | |
Residential mortgages [member] | High probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 4,850 | 5,130 | |
Residential mortgages [member] | Very High probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 1,779 | 1,804 | |
Residential mortgages [member] | Loans not graded [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 31,561 | 26,665 | |
Residential mortgages [member] | Default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 1,910 | 1,797 | |
Loans to consumers [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 98,679 | 96,019 | |
Allowance for credit losses | 2,098 | 2,109 | |
Carrying value of loans net of ACL | 96,581 | 93,910 | |
Loans to consumers [member] | Very low probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 30,330 | 30,726 | |
Loans to consumers [member] | Low probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 27,135 | 26,190 | |
Loans to consumers [member] | Medium probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 9,043 | 8,717 | |
Loans to consumers [member] | High probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 10,603 | 10,333 | |
Loans to consumers [member] | Very High probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 1,560 | 1,420 | |
Loans to consumers [member] | Loans not graded [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 18,917 | 17,564 | |
Loans to consumers [member] | Default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 1,091 | 1,069 | |
Undrawn loan commitments retail [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments net of ACL | 118,014 | 116,794 | |
Undrawn loan commitments retail [member] | Very low probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments before ACL | 75,936 | 72,321 | |
Undrawn loan commitments retail [member] | Low probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments before ACL | 17,447 | 16,533 | |
Undrawn loan commitments retail [member] | Medium probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments before ACL | 6,623 | 6,108 | |
Undrawn loan commitments retail [member] | High probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments before ACL | 3,601 | 3,301 | |
Undrawn loan commitments retail [member] | Very High probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments before ACL | 345 | 393 | |
Undrawn loan commitments retail [member] | Loans not graded [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments before ACL | 14,062 | 18,138 | |
Business and government [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 212,655 | 191,038 | |
Allowance for credit losses | 1,082 | 1,065 | |
Carrying value of loans net of ACL | 211,573 | 189,973 | |
Business and government [member] | Loans not graded [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 1,915 | 1,702 | |
Business and government [member] | Default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 2,228 | 2,264 | |
Business and government [member] | Investment grade [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 104,063 | 90,817 | |
Business and government [member] | Non investment grade [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 101,378 | 93,436 | |
Business and government [member] | Watch list [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 3,071 | 2,819 | |
Undrawn loan commitments business and government [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments before ACL | 233,955 | 224,257 | |
Allowance for credit losses | 61 | 74 | |
Carrying value of undrawn loan commitments net of ACL | 233,894 | 224,183 | |
Undrawn loan commitments business and government [member] | Loans not graded [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments before ACL | 1,798 | 2,206 | |
Undrawn loan commitments business and government [member] | Default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments before ACL | 149 | 4 | |
Undrawn loan commitments business and government [member] | Investment grade [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments before ACL | 173,933 | 161,543 | |
Undrawn loan commitments business and government [member] | Non investment grade [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments before ACL | 57,118 | 59,446 | |
Undrawn loan commitments business and government [member] | Watch list [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments before ACL | 957 | 1,058 | |
Credit Card [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 17,933 | 16,485 | |
Allowance for credit losses | 1,293 | 1,213 | |
Carrying value of loans net of ACL | 16,640 | 15,272 | |
Credit Card [member] | Very low probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 1,459 | 1,423 | |
Credit Card [member] | Low probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 2,537 | 2,450 | |
Credit Card [member] | Medium probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 3,594 | 3,429 | |
Credit Card [member] | High probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 4,809 | 4,384 | |
Credit Card [member] | Very High probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 807 | 734 | |
Credit Card [member] | Loans not graded [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 4,727 | 4,065 | |
Stage one exposure [member] | Residential mortgages [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 252,329 | 241,083 | |
Allowance for credit losses | 127 | 112 | |
Carrying value of loans net of ACL | 252,202 | 240,971 | |
Stage one exposure [member] | Residential mortgages [member] | Very low probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 150,010 | 146,461 | |
Stage one exposure [member] | Residential mortgages [member] | Low probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 59,090 | 58,154 | |
Stage one exposure [member] | Residential mortgages [member] | Medium probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 13,893 | 11,689 | |
Stage one exposure [member] | Residential mortgages [member] | High probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 1,639 | 1,615 | |
Stage one exposure [member] | Residential mortgages [member] | Very High probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 13 | 25 | |
Stage one exposure [member] | Residential mortgages [member] | Loans not graded [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 27,684 | 23,139 | |
Stage one exposure [member] | Loans to consumers [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 89,193 | 87,210 | |
Allowance for credit losses | 602 | 578 | |
Carrying value of loans net of ACL | 88,591 | 86,632 | |
Stage one exposure [member] | Loans to consumers [member] | Very low probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 30,218 | 30,660 | |
Stage one exposure [member] | Loans to consumers [member] | Low probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 26,812 | 26,039 | |
Stage one exposure [member] | Loans to consumers [member] | Medium probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 8,604 | 8,315 | |
Stage one exposure [member] | Loans to consumers [member] | High probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 6,953 | 6,686 | |
Stage one exposure [member] | Loans to consumers [member] | Very High probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 47 | 58 | |
Stage one exposure [member] | Loans to consumers [member] | Loans not graded [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 16,559 | 15,452 | |
Stage one exposure [member] | Undrawn loan commitments retail [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments net of ACL | 114,173 | 112,312 | |
Stage one exposure [member] | Undrawn loan commitments retail [member] | Very low probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments before ACL | 75,936 | 72,321 | |
Stage one exposure [member] | Undrawn loan commitments retail [member] | Low probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments before ACL | 17,446 | 16,531 | |
Stage one exposure [member] | Undrawn loan commitments retail [member] | Medium probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments before ACL | 6,532 | 6,029 | |
Stage one exposure [member] | Undrawn loan commitments retail [member] | High probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments before ACL | 2,879 | 2,631 | |
Stage one exposure [member] | Undrawn loan commitments retail [member] | Very High probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments before ACL | 24 | 26 | |
Stage one exposure [member] | Undrawn loan commitments retail [member] | Loans not graded [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments before ACL | 11,356 | 14,774 | |
Stage one exposure [member] | Business and government [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 199,809 | 171,957 | |
Allowance for credit losses | 159 | 132 | |
Carrying value of loans net of ACL | 199,650 | 171,825 | |
Stage one exposure [member] | Business and government [member] | Loans not graded [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 1,907 | 1,050 | |
Stage one exposure [member] | Business and government [member] | Investment grade [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 102,927 | 87,047 | |
Stage one exposure [member] | Business and government [member] | Non investment grade [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 94,904 | 83,730 | |
Stage one exposure [member] | Business and government [member] | Watch list [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 71 | 130 | |
Stage one exposure [member] | Undrawn loan commitments business and government [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments before ACL | 228,156 | 218,140 | |
Allowance for credit losses | 44 | 41 | |
Carrying value of undrawn loan commitments net of ACL | 228,112 | 218,099 | |
Stage one exposure [member] | Undrawn loan commitments business and government [member] | Loans not graded [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments before ACL | 1,650 | 2,178 | |
Stage one exposure [member] | Undrawn loan commitments business and government [member] | Investment grade [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments before ACL | 173,208 | 159,880 | |
Stage one exposure [member] | Undrawn loan commitments business and government [member] | Non investment grade [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments before ACL | 53,280 | 56,001 | |
Stage one exposure [member] | Undrawn loan commitments business and government [member] | Watch list [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments before ACL | 18 | 81 | |
Stage one exposure [member] | Credit Card [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 14,112 | 13,084 | |
Allowance for credit losses | 443 | 401 | |
Carrying value of loans net of ACL | 13,669 | 12,683 | |
Stage one exposure [member] | Credit Card [member] | Very low probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 1,448 | 1,418 | |
Stage one exposure [member] | Credit Card [member] | Low probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 2,516 | 2,436 | |
Stage one exposure [member] | Credit Card [member] | Medium probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 3,536 | 3,358 | |
Stage one exposure [member] | Credit Card [member] | High probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 3,267 | 2,929 | |
Stage one exposure [member] | Credit Card [member] | Very High probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 41 | 37 | |
Stage one exposure [member] | Credit Card [member] | Loans not graded [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 3,304 | 2,906 | |
Stage two exposure [member] | Residential mortgages [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 10,931 | 10,477 | |
Allowance for credit losses | 230 | 206 | |
Carrying value of loans net of ACL | 10,701 | 10,271 | |
Stage two exposure [member] | Residential mortgages [member] | Very low probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 442 | 307 | |
Stage two exposure [member] | Residential mortgages [member] | Low probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 526 | 378 | |
Stage two exposure [member] | Residential mortgages [member] | Medium probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 1,109 | 972 | |
Stage two exposure [member] | Residential mortgages [member] | High probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 3,211 | 3,515 | |
Stage two exposure [member] | Residential mortgages [member] | Very High probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 1,766 | 1,779 | |
Stage two exposure [member] | Residential mortgages [member] | Loans not graded [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 3,877 | 3,526 | |
Stage two exposure [member] | Loans to consumers [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 8,395 | 7,740 | |
Allowance for credit losses | 868 | 887 | |
Carrying value of loans net of ACL | 7,527 | 6,853 | |
Stage two exposure [member] | Loans to consumers [member] | Very low probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 112 | 66 | |
Stage two exposure [member] | Loans to consumers [member] | Low probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 323 | 151 | |
Stage two exposure [member] | Loans to consumers [member] | Medium probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 439 | 402 | |
Stage two exposure [member] | Loans to consumers [member] | High probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 3,650 | 3,647 | |
Stage two exposure [member] | Loans to consumers [member] | Very High probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 1,513 | 1,362 | |
Stage two exposure [member] | Loans to consumers [member] | Loans not graded [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 2,358 | 2,112 | |
Stage two exposure [member] | Undrawn loan commitments retail [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments net of ACL | 3,841 | 4,482 | |
Stage two exposure [member] | Undrawn loan commitments retail [member] | Low probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments before ACL | 1 | 2 | |
Stage two exposure [member] | Undrawn loan commitments retail [member] | Medium probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments before ACL | 91 | 79 | |
Stage two exposure [member] | Undrawn loan commitments retail [member] | High probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments before ACL | 722 | 670 | |
Stage two exposure [member] | Undrawn loan commitments retail [member] | Very High probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments before ACL | 321 | 367 | |
Stage two exposure [member] | Undrawn loan commitments retail [member] | Loans not graded [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments before ACL | 2,706 | 3,364 | |
Stage two exposure [member] | Business and government [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 10,618 | 16,817 | |
Allowance for credit losses | 245 | 260 | |
Carrying value of loans net of ACL | 10,373 | 16,557 | |
Stage two exposure [member] | Business and government [member] | Loans not graded [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 8 | 652 | |
Stage two exposure [member] | Business and government [member] | Investment grade [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 1,136 | 3,770 | |
Stage two exposure [member] | Business and government [member] | Non investment grade [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 6,474 | 9,706 | |
Stage two exposure [member] | Business and government [member] | Watch list [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 3,000 | 2,689 | |
Stage two exposure [member] | Undrawn loan commitments business and government [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments before ACL | 5,650 | 6,113 | |
Allowance for credit losses | 17 | 31 | |
Carrying value of undrawn loan commitments net of ACL | 5,633 | 6,082 | |
Stage two exposure [member] | Undrawn loan commitments business and government [member] | Loans not graded [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments before ACL | 148 | 28 | |
Stage two exposure [member] | Undrawn loan commitments business and government [member] | Investment grade [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments before ACL | 725 | 1,663 | |
Stage two exposure [member] | Undrawn loan commitments business and government [member] | Non investment grade [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments before ACL | 3,838 | 3,445 | |
Stage two exposure [member] | Undrawn loan commitments business and government [member] | Watch list [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments before ACL | 939 | 977 | |
Stage two exposure [member] | Credit Card [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 3,821 | 3,401 | |
Allowance for credit losses | 850 | 812 | |
Carrying value of loans net of ACL | 2,971 | 2,589 | |
Stage two exposure [member] | Credit Card [member] | Very low probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 11 | 5 | |
Stage two exposure [member] | Credit Card [member] | Low probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 21 | 14 | |
Stage two exposure [member] | Credit Card [member] | Medium probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 58 | 71 | |
Stage two exposure [member] | Credit Card [member] | High probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 1,542 | 1,455 | |
Stage two exposure [member] | Credit Card [member] | Very High probability of default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 766 | 697 | |
Stage two exposure [member] | Credit Card [member] | Loans not graded [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 1,423 | 1,159 | |
Stage three exposure [member] | Residential mortgages [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 1,910 | 1,797 | |
Allowance for credit losses | 364 | 360 | |
Carrying value of loans net of ACL | 1,546 | 1,437 | |
Stage three exposure [member] | Residential mortgages [member] | Default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 1,910 | 1,797 | |
Stage three exposure [member] | Loans to consumers [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 1,091 | 1,069 | |
Allowance for credit losses | 628 | 644 | |
Carrying value of loans net of ACL | 463 | 425 | |
Stage three exposure [member] | Loans to consumers [member] | Default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 1,091 | 1,069 | |
Stage three exposure [member] | Business and government [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 2,228 | 2,264 | |
Allowance for credit losses | 678 | 673 | |
Carrying value of loans net of ACL | 1,550 | 1,591 | |
Stage three exposure [member] | Business and government [member] | Default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of loans before ACL | 2,228 | 2,264 | |
Stage three exposure [member] | Undrawn loan commitments business and government [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments before ACL | 149 | 4 | |
Allowance for credit losses | 2 | ||
Carrying value of undrawn loan commitments net of ACL | 149 | 2 | |
Stage three exposure [member] | Undrawn loan commitments business and government [member] | Default [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments before ACL | 149 | $ 4 | |
Stage three exposure [member] | Undrawn loan commitments business and government [member] | Investment grade [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Carrying value of undrawn loan commitments before ACL | $ 0 |
Loans, Impaired Loans and All_9
Loans, Impaired Loans and Allowance for Credit Losses - Loans Past Due But Not Impaired (Detail) - CAD ($) $ in Millions | Jul. 31, 2019 | Apr. 30, 2019 | Oct. 31, 2018 |
Disclosure of detailed information about financial instruments [line items] | |||
Loans and receivables gross | $ 594,437 | $ 589,110 | $ 556,899 |
Residential mortgages [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans and receivables gross | 265,170 | 253,357 | |
Loans to consumers [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans and receivables gross | 98,679 | 96,019 | |
Credit Card [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans and receivables gross | 17,933 | 16,485 | |
Business and government [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans and receivables gross | 212,655 | 191,038 | |
Financial assets past due but not impaired [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans and receivables gross | 3,819 | 4,074 | 3,687 |
Financial assets past due but not impaired [member] | Residential mortgages [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans and receivables gross | 1,789 | 1,844 | 1,811 |
Financial assets past due but not impaired [member] | Loans to consumers [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans and receivables gross | 938 | 998 | 931 |
Financial assets past due but not impaired [member] | Credit Card [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans and receivables gross | 864 | 866 | 738 |
Financial assets past due but not impaired [member] | Business and government [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans and receivables gross | 228 | 366 | 207 |
31 - 60 days [member] | Financial assets past due but not impaired [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans and receivables gross | 2,309 | 2,448 | 2,297 |
31 - 60 days [member] | Financial assets past due but not impaired [member] | Residential mortgages [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans and receivables gross | 1,241 | 1,285 | 1,290 |
31 - 60 days [member] | Financial assets past due but not impaired [member] | Loans to consumers [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans and receivables gross | 606 | 654 | 609 |
31 - 60 days [member] | Financial assets past due but not impaired [member] | Credit Card [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans and receivables gross | 282 | 277 | 231 |
31 - 60 days [member] | Financial assets past due but not impaired [member] | Business and government [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans and receivables gross | 180 | 232 | 167 |
61 - 90 days [member] | Financial assets past due but not impaired [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans and receivables gross | 1,101 | 1,224 | 1,037 |
61 - 90 days [member] | Financial assets past due but not impaired [member] | Residential mortgages [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans and receivables gross | 548 | 559 | 521 |
61 - 90 days [member] | Financial assets past due but not impaired [member] | Loans to consumers [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans and receivables gross | 332 | 344 | 322 |
61 - 90 days [member] | Financial assets past due but not impaired [member] | Credit Card [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans and receivables gross | 173 | 187 | 154 |
61 - 90 days [member] | Financial assets past due but not impaired [member] | Business and government [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans and receivables gross | 48 | 134 | 40 |
91 days and greater [member] | Financial assets past due but not impaired [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans and receivables gross | 409 | 402 | 353 |
91 days and greater [member] | Financial assets past due but not impaired [member] | Credit Card [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans and receivables gross | $ 409 | $ 402 | $ 353 |
Loans, Impaired Loans and Al_10
Loans, Impaired Loans and Allowance for Credit Losses - Summary of Purchased Credit Impaired Loans (Detail) - CAD ($) $ in Millions | Jul. 31, 2019 | Apr. 30, 2019 | Oct. 31, 2018 | Jul. 31, 2018 | Oct. 31, 2017 |
Disclosure of detailed information about financial instruments [line items] | |||||
Allowance | $ (5,263) | $ (5,147) | $ (5,408) | $ (5,020) | |
Loans acquired in business combination [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Unpaid principal balance | 500 | $ 538 | 548 | ||
Credit related fair value adjustments | (134) | (150) | (168) | ||
Carrying value | 366 | 388 | 380 | ||
Carrying value net of related allowance | 358 | $ 388 | $ 380 | ||
Loans acquired in business combination [member] | Stage 3 [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Allowance | $ (8) |
Derecognition of financial as_3
Derecognition of financial assets - Summary of Carrying Amount of Transferred Assets Do Not Qualify for Derecognition and Associated Liabilities (Detail) - Securitisations [member] - CAD ($) $ in Millions | Jul. 31, 2019 | Apr. 30, 2019 | Oct. 31, 2018 |
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | |||
Carrying value of associated liabilities | $ 22,512 | $ 21,994 | $ 21,459 |
Residential mortgage loans [member] | |||
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | |||
Carrying value of assets | 20,765 | 21,110 | 20,498 |
Other related assets [member] | |||
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | |||
Carrying value of assets | $ 4,193 | $ 3,285 | $ 2,679 |
Derecognition of financial as_4
Derecognition of financial assets - Summary of Carrying Amount of Transferred Assets Do Not Qualify for Derecognition and Associated Liabilities (Parenthetical) (Detail) - Securitisations [member] - CAD ($) $ in Millions | Jul. 31, 2019 | Apr. 30, 2019 | Oct. 31, 2018 |
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | |||
Fair value of transferred assets | $ 25,364 | $ 24,723 | $ 23,237 |
Fair value of associated liabilities | 24,683 | 23,822 | 22,468 |
Net position | $ 681 | $ 901 | $ 769 |
Derecognition of financial as_5
Derecognition of financial assets - Additional Information (Detail) $ in Millions, $ in Millions | Jul. 31, 2019CAD ($) | Jul. 31, 2019USD ($) | Apr. 30, 2019CAD ($) | Feb. 28, 2019CAD ($) | Oct. 31, 2018CAD ($) |
Investment [Line Items] | |||||
Deposit, business and government | $ 456,806 | $ 443,707 | $ 422,002 | ||
Canadian credit card receivables [member] | Securitisations [member] | |||||
Investment [Line Items] | |||||
Credit cards receivables | $ 1,792 | ||||
Assets pledged in relation to notes | 1,936 | ||||
Canadian auto loan receivables [member] | Securitisations [member] | |||||
Investment [Line Items] | |||||
Assets pledged in relation to notes | 740 | ||||
Loan receivables | $ 896 | ||||
Senior Notes Class A, Class B and Class C Subordinated Notes [member] | Securitisations [member] | |||||
Investment [Line Items] | |||||
Deposit, business and government | 1,793 | $ 1,359 | |||
Class A notes [member] | Securitisations [member] | |||||
Investment [Line Items] | |||||
Deposit, business and government | $ 624 | $ 472 |
Derecognition of financial as_6
Derecognition of financial assets - Summary of Carrying Amount of Transferred Other Financial Assets Do Not Qualify for Derecognition and Associated Liabilities (Detail) - Other Financial Assets [member] - CAD ($) $ in Millions | Jul. 31, 2019 | Apr. 30, 2019 | Oct. 31, 2018 |
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | |||
Carrying value of assets | $ 155,670 | $ 158,449 | $ 132,534 |
Carrying value of associated liabilities | 120,555 | 124,331 | 101,257 |
Repurchase agreement [member] | |||
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | |||
Carrying value of assets | 107,139 | 106,895 | 82,816 |
Securities lending [member] | |||
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | |||
Carrying value of assets | $ 48,531 | $ 51,554 | $ 49,718 |
Derecognition of financial as_7
Derecognition of financial assets - Summary of Carrying Amount of Transferred Other Financial Assets Do Not Qualify for Derecognition and Associated Liabilities (Parenthetical) (Detail) - Other Financial Assets [member] - CAD ($) $ in Millions | Jul. 31, 2019 | Apr. 30, 2019 | Oct. 31, 2018 |
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | |||
Fair value of transferred assets | $ 155,670 | $ 158,449 | $ 132,534 |
Fair value of the associated liabilities | 120,555 | 124,331 | 101,257 |
Net position | $ 35,115 | $ 34,118 | $ 31,277 |
Investments in associates - Sum
Investments in associates - Summary of Significant Investments in Associates (Detail) - CAD ($) $ in Millions | 9 Months Ended | ||
Jul. 31, 2019 | Apr. 30, 2019 | Oct. 31, 2018 | |
Thanachart bank public company limited [member] | |||
Disclosure of associates [line items] | |||
Country of incorporation | Thailand | ||
Nature of business | Banking | ||
Ownership percentage | 49.00% | ||
Date of financial statements | Jul. 31, 2019 | ||
Carrying value | $ 3,452 | $ 3,266 | $ 2,961 |
Canadian tires financial services business [member] | |||
Disclosure of associates [line items] | |||
Country of incorporation | Canada | ||
Nature of business | Financial Services | ||
Ownership percentage | 20.00% | ||
Date of financial statements | Jun. 30, 2019 | ||
Carrying value | $ 519 | 521 | 518 |
Bank of Xian Co Ltd [member] | |||
Disclosure of associates [line items] | |||
Country of incorporation | China | ||
Nature of business | Banking | ||
Ownership percentage | 17.99% | ||
Date of financial statements | Jun. 30, 2019 | ||
Carrying value | $ 817 | 848 | 772 |
Maduro and curiels bank NV [member] | |||
Disclosure of associates [line items] | |||
Country of incorporation | Curacao | ||
Nature of business | Banking | ||
Ownership percentage | 48.10% | ||
Date of financial statements | Jun. 30, 2019 | ||
Carrying value | $ 321 | $ 322 | $ 304 |
Investments in associates - S_2
Investments in associates - Summary of Significant Investments in Associates (Parenthetical) (Detail) - CAD ($) $ in Millions | 9 Months Ended | |||
Jul. 31, 2019 | Apr. 30, 2019 | Oct. 31, 2018 | Jul. 31, 2018 | |
Disclosure of associates [line items] | ||||
Undistributed retained earnings | $ 62 | $ 60 | ||
Canadian tires financial services business [member] | ||||
Disclosure of associates [line items] | ||||
Option to sell maximum additional equity interest within the next 10 years | 29.00% | |||
Period of option to sell back equity interest after ten years | 6 months | |||
Bank of Xian Co Ltd [member] | ||||
Disclosure of associates [line items] | ||||
Investments in associates based on quoted Stock Exchange price on Shanghai | $ 1,081 | |||
Maduro and curiels bank NV [member] | ||||
Disclosure of associates [line items] | ||||
Undistributed retained earnings | $ 62 | $ 63 | $ 62 |
Deposits - Summary of Deposits
Deposits - Summary of Deposits (Detail) - CAD ($) $ in Millions | Jul. 31, 2019 | Apr. 30, 2019 | Oct. 31, 2018 |
Disclosure Of Deposits [line items] | |||
Payable after notice | $ 164,024 | ||
Payable on a fixed date | 408,076 | ||
Total | 722,346 | $ 712,282 | $ 676,534 |
Canada [member] | |||
Disclosure Of Deposits [line items] | |||
Payable after notice | 126,951 | ||
Payable on a fixed date | 262,413 | ||
Total | 490,933 | 481,177 | 472,798 |
United States [member] | |||
Disclosure Of Deposits [line items] | |||
Payable after notice | 6,029 | ||
Payable on a fixed date | 50,276 | ||
Total | 76,262 | 73,708 | 59,938 |
United Kingdom [member] | |||
Disclosure Of Deposits [line items] | |||
Payable after notice | 273 | ||
Payable on a fixed date | 18,001 | ||
Total | 18,274 | 18,683 | 16,847 |
Mexico [member] | |||
Disclosure Of Deposits [line items] | |||
Payable after notice | 7,335 | ||
Payable on a fixed date | 12,076 | ||
Total | 23,955 | 24,487 | 21,151 |
Peru [member] | |||
Disclosure Of Deposits [line items] | |||
Payable after notice | 4,476 | ||
Payable on a fixed date | 8,733 | ||
Total | 18,177 | 17,955 | 15,213 |
Chile [member] | |||
Disclosure Of Deposits [line items] | |||
Payable after notice | 147 | ||
Payable on a fixed date | 15,599 | ||
Total | 22,731 | 24,790 | 24,180 |
Colombia [member] | |||
Disclosure Of Deposits [line items] | |||
Payable after notice | 4,567 | ||
Payable on a fixed date | 4,690 | ||
Total | 9,847 | 9,949 | 9,543 |
Other International [member] | |||
Disclosure Of Deposits [line items] | |||
Payable after notice | 14,246 | ||
Payable on a fixed date | 36,288 | ||
Total | 62,167 | 61,533 | 56,864 |
Personal [member] | |||
Disclosure Of Deposits [line items] | |||
Payable after notice | 123,641 | ||
Payable on a fixed date | 84,622 | ||
Total | 222,895 | 224,933 | 214,545 |
Business and government [member] | |||
Disclosure Of Deposits [line items] | |||
Payable after notice | 39,208 | ||
Payable on a fixed date | 288,628 | ||
Total | 456,806 | 443,707 | 422,002 |
Financial institution [member] | |||
Disclosure Of Deposits [line items] | |||
Payable after notice | 1,175 | ||
Payable on a fixed date | 34,826 | ||
Total | 42,645 | $ 43,642 | $ 39,987 |
Interest bearing [member] | |||
Disclosure Of Deposits [line items] | |||
Payable on demand | 116,468 | ||
Interest bearing [member] | Canada [member] | |||
Disclosure Of Deposits [line items] | |||
Payable on demand | 84,718 | ||
Interest bearing [member] | United States [member] | |||
Disclosure Of Deposits [line items] | |||
Payable on demand | 19,888 | ||
Interest bearing [member] | Mexico [member] | |||
Disclosure Of Deposits [line items] | |||
Payable on demand | 10 | ||
Interest bearing [member] | Peru [member] | |||
Disclosure Of Deposits [line items] | |||
Payable on demand | 4,857 | ||
Interest bearing [member] | Chile [member] | |||
Disclosure Of Deposits [line items] | |||
Payable on demand | 3,166 | ||
Interest bearing [member] | Colombia [member] | |||
Disclosure Of Deposits [line items] | |||
Payable on demand | 42 | ||
Interest bearing [member] | Other International [member] | |||
Disclosure Of Deposits [line items] | |||
Payable on demand | 3,787 | ||
Interest bearing [member] | Personal [member] | |||
Disclosure Of Deposits [line items] | |||
Payable on demand | 6,567 | ||
Interest bearing [member] | Business and government [member] | |||
Disclosure Of Deposits [line items] | |||
Payable on demand | 104,319 | ||
Interest bearing [member] | Financial institution [member] | |||
Disclosure Of Deposits [line items] | |||
Payable on demand | 5,582 | ||
Non- interest bearing [member] | |||
Disclosure Of Deposits [line items] | |||
Payable on demand | 33,778 | ||
Non- interest bearing [member] | Canada [member] | |||
Disclosure Of Deposits [line items] | |||
Payable on demand | 16,851 | ||
Non- interest bearing [member] | United States [member] | |||
Disclosure Of Deposits [line items] | |||
Payable on demand | 69 | ||
Non- interest bearing [member] | Mexico [member] | |||
Disclosure Of Deposits [line items] | |||
Payable on demand | 4,534 | ||
Non- interest bearing [member] | Peru [member] | |||
Disclosure Of Deposits [line items] | |||
Payable on demand | 111 | ||
Non- interest bearing [member] | Chile [member] | |||
Disclosure Of Deposits [line items] | |||
Payable on demand | 3,819 | ||
Non- interest bearing [member] | Colombia [member] | |||
Disclosure Of Deposits [line items] | |||
Payable on demand | 548 | ||
Non- interest bearing [member] | Other International [member] | |||
Disclosure Of Deposits [line items] | |||
Payable on demand | 7,846 | ||
Non- interest bearing [member] | Personal [member] | |||
Disclosure Of Deposits [line items] | |||
Payable on demand | 8,065 | ||
Non- interest bearing [member] | Business and government [member] | |||
Disclosure Of Deposits [line items] | |||
Payable on demand | 24,651 | ||
Non- interest bearing [member] | Financial institution [member] | |||
Disclosure Of Deposits [line items] | |||
Payable on demand | $ 1,062 |
Deposits - Summary of Deposit_2
Deposits - Summary of Deposits (Parenthetical) (Detail) - CAD ($) $ in Millions | Jul. 31, 2019 | Apr. 30, 2019 | Oct. 31, 2018 |
Disclosure Of Deposits [line items] | |||
Deposits | $ 164,024 | ||
Deposits | 722,346 | $ 712,282 | $ 676,534 |
U.S. dollar [member] | |||
Disclosure Of Deposits [line items] | |||
Deposits | 249,722 | 237,027 | 219,195 |
Chile, Pesos | |||
Disclosure Of Deposits [line items] | |||
Deposits | 21,012 | 22,610 | 22,731 |
Mexico, Pesos [member] | |||
Disclosure Of Deposits [line items] | |||
Deposits | 20,173 | 20,863 | 18,341 |
Other Foreign Currencies [member] | |||
Disclosure Of Deposits [line items] | |||
Deposits | 83,772 | 84,606 | 79,582 |
Non interest bearing deposits [member] | |||
Disclosure Of Deposits [line items] | |||
Deposits | $ 137 | $ 133 | $ 141 |
Deposits - Summary of Maturity
Deposits - Summary of Maturity Schedule for Term Deposits (Detail) - Canada [member] - CAD ($) $ in Millions | Jul. 31, 2019 | Apr. 30, 2019 | Oct. 31, 2018 |
Disclosure Of Deposits [line items] | |||
Term deposit | $ 220,547 | $ 216,338 | $ 223,019 |
Within three months [member] | |||
Disclosure Of Deposits [line items] | |||
Term deposit | 48,111 | 46,113 | 36,670 |
Three to six months [member] | |||
Disclosure Of Deposits [line items] | |||
Term deposit | 24,313 | 22,925 | 23,913 |
Six to twelve months [member] | |||
Disclosure Of Deposits [line items] | |||
Term deposit | 40,746 | 32,412 | 42,830 |
One to 5 years [member] | |||
Disclosure Of Deposits [line items] | |||
Term deposit | 93,713 | 99,940 | 99,734 |
Over 5 years [member] | |||
Disclosure Of Deposits [line items] | |||
Term deposit | $ 13,664 | $ 14,948 | $ 19,872 |
Capital and Financing Transac_2
Capital and Financing Transactions - Additional Information (Detail) $ / shares in Units, shares in Millions, $ in Millions, $ in Millions | Jul. 03, 2019CAD ($)$ / sharesshares | Jun. 30, 2019 | May 30, 2019shares | Jan. 28, 2019CAD ($) | Jan. 18, 2019CAD ($) | May 29, 2018shares | Jul. 31, 2019CAD ($)$ / sharesshares | Jul. 31, 2018CAD ($) | Jul. 31, 2019CAD ($)$ / sharesshares | Jul. 31, 2019USD ($)shares | Jul. 31, 2018CAD ($) |
Disclosure of objectives, policies and processes for managing capital [line items] | |||||||||||
Subordinated debentures purchased for cancellation | $ 4 | $ 18 | $ 233 | ||||||||
Common shares purchased for cancellation | $ 196 | $ 74 | $ 719 | $ 252 | |||||||
Seven Point Eight Zero Two Scotia bank Tier One Securities Series Two Thousand Nine [member] | |||||||||||
Disclosure of objectives, policies and processes for managing capital [line items] | |||||||||||
Principal amount redemption percentage | 100.00% | ||||||||||
Securities interest rate | 7.802% | ||||||||||
NCIB [member] | |||||||||||
Disclosure of objectives, policies and processes for managing capital [line items] | |||||||||||
Maximum number of shares approved for repurchase | shares | 24 | 24 | |||||||||
Shares repurchased and cancelled, shares | shares | 2.8 | 10 | 10 | ||||||||
Shares repurchased and cancelled, per share | $ / shares | $ 70.28 | $ 71.66 | |||||||||
Common shares purchased for cancellation | $ 195 | $ 719 | |||||||||
NCIB 2018 [Member] | |||||||||||
Disclosure of objectives, policies and processes for managing capital [line items] | |||||||||||
Shares repurchased and cancelled, shares | shares | 14.8 | ||||||||||
Shares repurchased and cancelled, per share | $ / shares | $ 73.46 | ||||||||||
NCIB 2019 [Member] | |||||||||||
Disclosure of objectives, policies and processes for managing capital [line items] | |||||||||||
Shares repurchased and cancelled, shares | shares | 1.2 | 1.2 | |||||||||
Shares repurchased and cancelled, per share | $ / shares | $ 70.24 | ||||||||||
Subordinated debenture [member] | Floating interest rate [member] | |||||||||||
Disclosure of objectives, policies and processes for managing capital [line items] | |||||||||||
Subordinated debentures purchased for cancellation | $ 16 | ||||||||||
Non-cumulative preferred shares series 22 [member] | |||||||||||
Disclosure of objectives, policies and processes for managing capital [line items] | |||||||||||
Outstanding preferred shares redeemed at par value | $ 234 | ||||||||||
Non-cumulative preferred shares series 23 [member] | |||||||||||
Disclosure of objectives, policies and processes for managing capital [line items] | |||||||||||
Outstanding preferred shares redeemed at par value | $ 66 | ||||||||||
Subordinated debentures non viability contingent capital [member] | |||||||||||
Disclosure of objectives, policies and processes for managing capital [line items] | |||||||||||
Subordinated debentures issued or issuable | $ 1,500 | $ 1,750 | |||||||||
Percentage offering of subordinated debentures | 2.836% | 3.89% | |||||||||
Subordinated debentures maturity date | Jul. 3, 2029 | Jan. 18, 2029 | |||||||||
Debentures of quarterly coupon at rate, Description | Three-month Bankers' Acceptance rate plus 1.18% | Three-month Bankers' Acceptance rate plus 1.58% | |||||||||
Description of Borrowing | Interest will be payable semi-annually at a rate of 2.836% per annum until July 3, 2024 and thereafter payable quarterly until July 3, 2029 at the Three-month Bankers' Acceptance rate plus 1.18%. | Interest will be payable semi-annually at a rate of 3.89% per annum until January 18, 2024 and thereafter payable quarterly until January 18, 2029 at the Three-month Bankers' Acceptance rate plus 1.58%. |
Capital Management - Summary of
Capital Management - Summary of Regulatory Capital and Leverage Position (Detail) - CAD ($) $ in Millions | Jul. 31, 2019 | Apr. 30, 2019 | Oct. 31, 2018 |
Capital | |||
Common Equity Tier 1 capital | $ 46,565 | $ 46,193 | $ 44,443 |
Net Tier 1 capital | 51,371 | 51,709 | 50,187 |
Total regulatory capital | 61,546 | 60,855 | 57,364 |
Risk-weighted assets/exposures used in calculation of capital ratios | |||
CET1 risk-weighted assets | 417,058 | 415,212 | 400,507 |
Tier 1 risk-weighted assets | 417,058 | 415,212 | 400,680 |
Total risk-weighted assets | 417,058 | 415,212 | 400,853 |
Leverage exposures | $ 1,211,612 | $ 1,204,111 | $ 1,119,099 |
Capital ratios | |||
Common Equity Tier 1 capital ratio | 11.20% | 11.10% | 11.10% |
Tier 1 capital ratio | 12.30% | 12.50% | 12.50% |
Total capital ratio | 14.80% | 14.70% | 14.30% |
Leverage ratio | 4.20% | 4.30% | 4.50% |
Capital Management - Summary _2
Capital Management - Summary of Regulatory Capital and Leverage Position (Parenthetical) (Detail) - CAD ($) | Jul. 31, 2019 | Apr. 30, 2019 | Oct. 31, 2018 |
Disclosure of regulatory capital and capital ratios [line items] | |||
Common Equity Tier 1 Capital Basel I floor adjustment | $ 0 | $ 0 | $ 0 |
Tier 1 Capital Basel I floor adjustment | 0 | 0 | 0 |
Regulatory capital Basel I floor adjustment | $ 0 | $ 0 | $ 0 |
Credit valuation adjustment [member] | |||
Disclosure of regulatory capital and capital ratios [line items] | |||
Scalars Common Equity Tier 1 Capital percentage | 0.80% | ||
Scalars Tier 1 percentage | 0.83% | ||
Scalars Risk-weighted assets total capital percentage | 0.86% |
Share-based Payment - Additiona
Share-based Payment - Additional Information (Detail) - Employee stock options [member] | 3 Months Ended | 9 Months Ended | ||
Jan. 31, 2019CAD ($) | Jul. 31, 2018CAD ($) | Jul. 31, 2019CAD ($)yr | Jul. 31, 2018CAD ($) | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Number of share options, Granted | 1,548,832 | |||
Exercise price of options granted | $ 72.28 | |||
Weighted average grant date fair value of options granted | 5.02 | |||
Increase to equity | $ 1,000,000 | $ 1,000,000 | $ 6,000,000 | $ 6,000,000 |
Vesting Period Of Three Years [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Stock options vesting percentage | 50.00% | |||
Vesting Period Of Four Years [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Stock options vesting percentage | 50.00% | |||
Options granted prior to December 2014 [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Expected life of stock options (years) | yr | 4 |
Employee benefits - Summary of
Employee benefits - Summary of Expenses for Bank's Principal Plans (Detail) - CAD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Jul. 31, 2019 | Apr. 30, 2019 | Jul. 31, 2018 | Jul. 31, 2019 | Jul. 31, 2018 | |
Disclosure of net defined benefit liability (asset) [line items] | |||||
Increase (decrease) in other comprehensive income related to employee benefits | $ (475) | $ (236) | $ 212 | $ (1,171) | $ 315 |
Pension plans [member] | |||||
Disclosure of net defined benefit liability (asset) [line items] | |||||
Defined benefit service cost | 73 | 71 | 83 | 220 | 249 |
Interest on net defined benefit (asset) liability | (1) | 1 | 2 | (2) | 6 |
Other | 4 | 4 | 3 | 12 | 9 |
Defined benefit expense | 76 | 76 | 88 | 230 | 264 |
Defined contribution expense | 15 | 15 | 10 | 44 | 30 |
Increase (decrease) in other comprehensive income related to employee benefits | (433) | (219) | 223 | (1,047) | 288 |
Other benefit plans [member] | |||||
Disclosure of net defined benefit liability (asset) [line items] | |||||
Defined benefit service cost | (1) | 7 | 7 | 13 | (170) |
Interest on net defined benefit (asset) liability | 13 | 13 | 11 | 39 | 36 |
Other | (7) | 1 | (5) | (5) | (8) |
Defined benefit expense | 5 | 21 | 13 | 47 | (142) |
Defined contribution expense | 3 | 3 | |||
Increase (decrease) in other comprehensive income related to employee benefits | $ (42) | $ (17) | $ (11) | $ (124) | $ 27 |
Employee benefits - Summary o_2
Employee benefits - Summary of Expenses for Bank's Principal Plans (Parenthetical) (Detail) $ in Millions | 9 Months Ended |
Jul. 31, 2019CAD ($) | |
Changes in net defined benefit liability (asset) [abstract] | |
Defined benefit plan, modification | $ 203 |
Operating Segments - Additional
Operating Segments - Additional Information (Detail) | 9 Months Ended |
Jul. 31, 2019 | |
Disclosure of operating segments [abstract] | |
Description of reportable segments | Scotiabank is a diversified financial services institution that provides a wide range of financial products and services to retail, commercial and corporate customers around the world. The Bank's businesses are grouped into three business lines Canadian Banking, International Banking and Global Banking and Markets. The results of these business segments are based upon the internal financial reporting systems of the Bank. |
Operating Segments - Schedule o
Operating Segments - Schedule of Operating Segments (Detail) - CAD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Jul. 31, 2019 | Apr. 30, 2019 | Jul. 31, 2018 | Jul. 31, 2019 | Jul. 31, 2018 | ||||
Disclosure of operating segments [line items] | ||||||||
Net interest income | $ 4,374 | $ 4,193 | $ 4,085 | $ 12,841 | $ 11,971 | |||
Non-interest income | 3,285 | 3,610 | 3,096 | 10,225 | 9,356 | |||
Total revenue | 7,659 | [1] | 7,803 | [1] | 7,181 | 23,066 | [1] | 21,327 |
Provision for credit losses | 713 | 873 | 943 | 2,274 | 2,021 | |||
Non-interest expenses | 4,209 | [1] | 4,046 | [1] | 3,770 | 12,426 | [1] | 10,994 |
Provision for income taxes | 753 | [1] | 625 | [1] | 529 | 1,876 | [1] | 1,859 |
Net income | 1,984 | [1] | 2,259 | [1] | 1,939 | 6,490 | [1] | 6,453 |
Net income attributable to non-controlling interests in subsidiaries | 120 | [1] | 70 | [1] | (44) | 301 | [1] | 84 |
Net income attributable to equity holders of the Bank | 1,864 | [1] | 2,189 | [1] | 1,983 | 6,189 | [1] | 6,369 |
Net income attributable to equity holders of the Bank - relating to divested operations | 8 | 5 | 12 | 25 | ||||
Net income attributable to equity holders of the Bank | 1,864 | 2,181 | 1,978 | 6,177 | 6,344 | |||
Average assets | 1,061,000 | 1,039,000 | 935,000 | 1,044,000 | 937,000 | |||
Average liabilities | 991,000 | 970,000 | 870,000 | 975,000 | 874,000 | |||
Operating segments [member] | Canadian banking [member] | ||||||||
Disclosure of operating segments [line items] | ||||||||
Net interest income | 2,120 | 1,990 | 2,024 | 6,146 | 5,869 | |||
Non-interest income | 1,412 | 1,390 | 1,349 | 4,181 | 4,038 | |||
Total revenue | 3,532 | 3,380 | 3,373 | 10,327 | 9,907 | |||
Provision for credit losses | 240 | 252 | 181 | 725 | 596 | |||
Non-interest expenses | 1,723 | 1,711 | 1,661 | 5,164 | 4,907 | |||
Provision for income taxes | 409 | 369 | 401 | 1,157 | 1,155 | |||
Net income | 1,160 | 1,048 | 1,130 | 3,281 | 3,249 | |||
Net income attributable to equity holders of the Bank | 1,160 | 1,048 | 1,130 | 3,281 | 3,249 | |||
Net income attributable to equity holders of the Bank | 1,160 | 1,048 | 1,130 | 3,281 | 3,249 | |||
Average assets | 365,000 | 358,000 | 344,000 | 360,000 | 339,000 | |||
Average liabilities | 285,000 | 281,000 | 254,000 | 280,000 | 250,000 | |||
Operating segments [member] | International banking [member] | ||||||||
Disclosure of operating segments [line items] | ||||||||
Net interest income | 2,157 | 2,121 | 1,827 | 6,358 | 5,292 | |||
Non-interest income | 1,270 | 1,235 | 1,026 | 3,756 | 3,007 | |||
Total revenue | 3,427 | 3,356 | 2,853 | 10,114 | 8,299 | |||
Provision for credit losses | 476 | 628 | 771 | 1,574 | 1,455 | |||
Non-interest expenses | 1,780 | 1,710 | 1,510 | 5,232 | 4,390 | |||
Provision for income taxes | 269 | 249 | 97 | 744 | 509 | |||
Net income | 902 | 769 | 475 | 2,564 | 1,945 | |||
Net income attributable to non-controlling interests in subsidiaries | 121 | 69 | (44) | 301 | 84 | |||
Net income attributable to equity holders of the Bank | 781 | 700 | 519 | 2,263 | 1,861 | |||
Net income attributable to equity holders of the Bank - relating to divested operations | 8 | 5 | 12 | 25 | ||||
Net income attributable to equity holders of the Bank | 781 | 692 | 514 | 2,251 | 1,836 | |||
Average assets | 206,000 | 203,000 | 164,000 | 202,000 | 159,000 | |||
Average liabilities | 158,000 | 156,000 | 129,000 | 156,000 | 123,000 | |||
Operating segments [member] | Global banking and markets [member] | ||||||||
Disclosure of operating segments [line items] | ||||||||
Net interest income | 337 | 350 | 365 | 1,059 | 1,117 | |||
Non-interest income | 747 | 801 | 745 | 2,251 | 2,338 | |||
Total revenue | 1,084 | 1,151 | 1,110 | 3,310 | 3,455 | |||
Provision for credit losses | (4) | (6) | (10) | (26) | (30) | |||
Non-interest expenses | 593 | 594 | 543 | 1,832 | 1,680 | |||
Provision for income taxes | 121 | 143 | 136 | 375 | 463 | |||
Net income | 374 | 420 | 441 | 1,129 | 1,342 | |||
Net income attributable to equity holders of the Bank | 374 | 420 | 441 | 1,129 | 1,342 | |||
Net income attributable to equity holders of the Bank | 374 | 420 | 441 | 1,129 | 1,342 | |||
Average assets | 374,000 | 361,000 | 311,000 | 366,000 | 322,000 | |||
Average liabilities | 306,000 | 295,000 | 258,000 | 300,000 | 267,000 | |||
Elimination of intersegment amounts [member] | Other smaller operating segments and corporate adjustments [member] | ||||||||
Disclosure of operating segments [line items] | ||||||||
Net interest income | (240) | (268) | (131) | (722) | (307) | |||
Non-interest income | (144) | 184 | (24) | 37 | (27) | |||
Total revenue | (384) | (84) | (155) | (685) | (334) | |||
Provision for credit losses | 1 | (1) | 1 | 1 | ||||
Non-interest expenses | 113 | 31 | 56 | 198 | 17 | |||
Provision for income taxes | (46) | (136) | (105) | (400) | (268) | |||
Net income | (452) | 22 | (107) | (484) | (83) | |||
Net income attributable to non-controlling interests in subsidiaries | (1) | 1 | ||||||
Net income attributable to equity holders of the Bank | (451) | 21 | (107) | (484) | (83) | |||
Net income attributable to equity holders of the Bank | (451) | 21 | (107) | (484) | (83) | |||
Average assets | 116,000 | 117,000 | 116,000 | 116,000 | 117,000 | |||
Average liabilities | $ 242,000 | $ 238,000 | $ 229,000 | $ 239,000 | $ 234,000 | |||
[1] | The amounts for the periods ended July 31, 2019 and April 30, 2019 have been prepared in accordance with IFRS 15; prior period amounts have not been restated (refer to Notes 3 and 4). |
Operating Segments - Schedule_2
Operating Segments - Schedule of Operating Segments (Parenthetical) (Detail) - CAD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Jul. 31, 2019 | Apr. 30, 2019 | Jul. 31, 2018 | Jul. 31, 2019 | Jul. 31, 2018 | |
Disclosure of operating segments [line items] | |||||
Net gain (loss) on divestitures included net income attributable to equity holder | $ (418) | $ 142 | $ (276) | ||
Net gain (loss) on divestitures included net income attributable to equity holder before tax | (320) | 173 | (147) | ||
Other smaller operating segments and corporate adjustments [member] | |||||
Disclosure of operating segments [line items] | |||||
Tax-exempt income | 48 | 41 | $ 28 | 123 | $ 81 |
Net income from investments in associated corporations | (8) | (58) | (38) | (111) | (122) |
Canadian banking [member] | |||||
Disclosure of operating segments [line items] | |||||
Net income from investments in associated corporations | 16 | 18 | 11 | 47 | 70 |
International banking [member] | |||||
Disclosure of operating segments [line items] | |||||
Net income from investments in associated corporations | $ 182 | $ 210 | $ 153 | $ 553 | $ 442 |
Interest Income and Expense - D
Interest Income and Expense - Details of Interest Income from Financial Assets (Detail) - CAD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||||||
Jul. 31, 2019 | Apr. 30, 2019 | Jul. 31, 2018 | Jul. 31, 2019 | Jul. 31, 2018 | |||||
Disclosure of Interest Income Expense [line items] | |||||||||
Measured at amortized cost | [1] | $ 7,970 | $ 7,641 | $ 6,781 | $ 23,181 | $ 19,335 | |||
Measured at FVOCI | [1] | 378 | 378 | 299 | 1,109 | 865 | |||
Interest income calculated using effective interest method | 8,348 | 8,019 | 7,080 | 24,290 | 20,200 | ||||
Other | [2] | 92 | 82 | 51 | 242 | 147 | |||
Interest income | [3] | 8,440 | [4] | 8,101 | [4] | 7,131 | 24,532 | [4] | 20,347 |
Measured at amortized cost | [1] | 4,055 | 3,892 | 3,004 | 11,658 | 8,289 | |||
Other | 415 | [4] | 350 | [4] | 256 | 1,086 | [4] | 736 | |
Interest expenses | 4,066 | [4] | 3,908 | [4] | 3,046 | 11,691 | [4] | 8,376 | |
Other Financial Liabilities [member] | |||||||||
Disclosure of Interest Income Expense [line items] | |||||||||
Other | [2] | $ 11 | $ 16 | $ 42 | $ 33 | $ 87 | |||
[1] | The interest income/expense on financial assets/liabilities are calculated using the effective interest method. | ||||||||
[2] | Includes dividend income on equity securities designated at FVOCI. | ||||||||
[3] | Includes interest income on financial assets measured at amortized cost and FVOCI, calculated using the effective interest method, of $8,348 for the three months ended July 31, 2019 (April 30, 2019 - $8,019; July 31, 2018 - $7,080) and for the nine months ended July 31, 2019 - $24,290 (July 31, 2018 - $20,200). | ||||||||
[4] | The amounts for the periods ended July 31, 2019 and April 30, 2019 have been prepared in accordance with IFRS 15; prior period amounts have not been restated (refer to Notes 3 and 4). |
Trading Revenues - Summary of T
Trading Revenues - Summary of Trading Revenues (Detail) - CAD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Jul. 31, 2019 | Apr. 30, 2019 | Jul. 31, 2018 | Jul. 31, 2019 | Jul. 31, 2018 | ||||
Trading income (expense) [abstract] | ||||||||
Interest rate and credit | $ 45 | $ 81 | $ 72 | $ 133 | $ 232 | |||
Equities | 124 | 123 | 58 | 370 | 310 | |||
Commodities | 57 | 45 | 50 | 170 | 185 | |||
Foreign exchange | 64 | 59 | 72 | 207 | 223 | |||
Other | 107 | 78 | 53 | 232 | 100 | |||
Total | $ 397 | [1] | $ 386 | [1] | $ 305 | $ 1,112 | [1] | $ 1,050 |
[1] | The amounts for the periods ended July 31, 2019 and April 30, 2019 have been prepared in accordance with IFRS 15; prior period amounts have not been restated (refer to Notes 3 and 4). |
Earnings Per Share - Summary of
Earnings Per Share - Summary of Earnings Per Share (Detail) - CAD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Jul. 31, 2019 | Apr. 30, 2019 | Jul. 31, 2018 | Jul. 31, 2019 | Jul. 31, 2018 | ||||
Basic earnings per common share | ||||||||
Net income attributable to common shareholders | $ 1,839 | [1] | $ 2,125 | [1] | $ 1,956 | $ 6,071 | [1] | $ 6,247 |
Weighted average number of common shares outstanding | 1,221 | 1,224 | 1,223 | 1,224 | 1,207 | |||
Basic earnings per common share | $ 1.51 | [1] | $ 1.74 | [1] | $ 1.60 | $ 4.96 | [1] | $ 5.18 |
Diluted earnings per common share | ||||||||
Net income attributable to common shareholders | $ 1,839 | [1] | $ 2,125 | [1] | $ 1,956 | $ 6,071 | [1] | $ 6,247 |
Dilutive impact of share-based payment options and others | 40 | 37 | (39) | 121 | (5) | |||
Net income attributable to common shareholders (diluted) | $ 1,879 | $ 2,162 | $ 1,917 | $ 6,192 | $ 6,242 | |||
Weighted average number of common shares outstanding | 1,221 | 1,224 | 1,223 | 1,224 | 1,207 | |||
Dilutive impact of share-based payment options and others | 30 | 28 | 17 | 29 | 16 | |||
Weighted average number of diluted common shares outstanding | 1,251 | 1,252 | 1,240 | 1,253 | 1,223 | |||
Diluted earnings per common share | $ 1.50 | [1] | $ 1.73 | [1] | $ 1.55 | $ 4.94 | [1] | $ 5.10 |
[1] | The amounts for the periods ended July 31, 2019 and April 30, 2019 have been prepared in accordance with IFRS 15; prior period amounts have not been restated (refer to Notes 3 and 4). |
Financial Instruments - Summary
Financial Instruments - Summary of Credit Risk Exposures (Detail) - CAD ($) $ in Millions | Jul. 31, 2019 | Apr. 30, 2019 | Oct. 31, 2018 |
Disclosure of detailed information about financial instruments [line items] | |||
Total | $ 975,277 | $ 976,016 | $ 949,234 |
Non retail [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Drawn | 427,496 | 434,552 | 425,009 |
Undrawn commitments | 96,821 | 96,803 | 92,303 |
Other exposures | 104,133 | 107,021 | 105,232 |
Total | 628,450 | 638,376 | 622,544 |
Retail [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Drawn | 297,092 | 289,269 | 278,605 |
Undrawn commitments | 49,735 | 48,371 | 48,085 |
Total | 346,827 | 337,640 | 326,690 |
AIRB portfolio [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Total | 804,363 | ||
AIRB portfolio [member] | Non retail [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Drawn | 364,762 | ||
Undrawn commitments | 92,883 | ||
Other exposures | 93,538 | ||
Total | 551,183 | ||
AIRB portfolio [member] | Retail [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Drawn | 203,445 | ||
Undrawn commitments | 49,735 | ||
Total | 253,180 | ||
Standardized portfolio [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Total | 170,914 | ||
Standardized portfolio [member] | Non retail [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Drawn | 62,734 | ||
Undrawn commitments | 3,938 | ||
Other exposures | 10,595 | ||
Total | 77,267 | ||
Standardized portfolio [member] | Retail [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Drawn | 93,647 | ||
Total | $ 93,647 | $ 94,000 | $ 87,000 |
Financial Instruments - Additio
Financial Instruments - Additional Information (Detail) - CAD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jul. 31, 2019 | Apr. 30, 2019 | Oct. 31, 2018 | Jul. 31, 2019 | Jul. 31, 2018 | Oct. 31, 2018 | |
Disclosure of detailed information about financial instruments [line items] | ||||||
Credit risk exposure default amount | $ 975,277,000,000 | $ 976,016,000,000 | $ 949,234,000,000 | $ 975,277,000,000 | $ 949,234,000,000 | |
Decreases (increases) in the Bank's before-tax annual earnings | 69,000,000 | 64,000,000 | $ 62,000,000 | |||
The unrealized foreign currency translation gains | 386,000,000 | 382,000,000 | $ 371,000,000 | |||
Derivative asset transferred into Level 3 | 0 | 0 | 0 | |||
Derivative asset transferred out of Level 3 | 0 | 0 | 0 | |||
Derivative liabilities transferred out of Level 3 | 0 | 0 | 0 | |||
Derivative liabilities transferred into Level 3 | 0 | 0 | 0 | |||
Standardized portfolio [member] | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Credit risk exposure default amount | 170,914,000,000 | 170,914,000,000 | ||||
AIRB portfolio [member] | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Credit risk exposure default amount | 804,363,000,000 | 804,363,000,000 | ||||
Retail [member] | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Credit risk exposure default amount | 346,827,000,000 | 337,640,000,000 | 326,690,000,000 | 346,827,000,000 | 326,690,000,000 | |
Retail [member] | Standardized portfolio [member] | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Credit risk exposure default amount | 93,647,000,000 | 94,000,000,000 | 87,000,000,000 | 93,647,000,000 | 87,000,000,000 | |
Retail [member] | Standardized portfolio [member] | Real estate secured [member] | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Credit risk exposure default amount | $ 48,000,000,000 | $ 49,000,000,000 | $ 45,000,000,000 | $ 48,000,000,000 | $ 45,000,000,000 | |
Retail [member] | AIRB portfolio [member] | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Percentage of residential mortgage portfolio insured | 42.00% | 40.00% | 43.00% | |||
Percentage of residential mortgage portfolio uninsured to average loan value | 55.00% | 55.00% | 54.00% | 55.00% | 54.00% | |
Credit risk exposure default amount | $ 253,180,000,000 | $ 253,180,000,000 | ||||
Retail [member] | Top of range [member] | Standardized portfolio [member] | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Secured mortgage loans to value ratio | 80.00% |
Financial Instruments - VaR by
Financial Instruments - VaR by Risk Factor (Detail) - CAD ($) $ in Millions | Jul. 31, 2019 | Apr. 30, 2019 | Jul. 31, 2018 |
Credit risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | $ 8.9 | $ 8.5 | $ 7.7 |
Credit spread [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 8.7 | 6.2 | 6.8 |
Interest rate risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 6.3 | 6.5 | 7.8 |
Equity price risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 2.7 | 4.1 | 2.7 |
Currency risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 4.2 | 3.1 | 3.4 |
Commodity price risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 3.3 | 2.6 | 1.6 |
Debt specific risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 3.3 | 3.7 | 3.4 |
Risk diversification effect [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | (11.3) | (12) | (7.3) |
Bank risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 11.1 | 10 | 11.5 |
Bank stressed risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 27.3 | $ 32 | $ 41 |
Weighted average [member] | Credit risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 9.8 | ||
Weighted average [member] | Credit spread [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 8.1 | ||
Weighted average [member] | Interest rate risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 7.2 | ||
Weighted average [member] | Equity price risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 3.5 | ||
Weighted average [member] | Currency risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 4 | ||
Weighted average [member] | Commodity price risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 2.4 | ||
Weighted average [member] | Debt specific risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 3.8 | ||
Weighted average [member] | Risk diversification effect [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | (11.6) | ||
Weighted average [member] | Bank risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 11.9 | ||
Weighted average [member] | Bank stressed risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 37.3 | ||
Top of range [member] | Credit risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 14.4 | ||
Top of range [member] | Credit spread [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 10.6 | ||
Top of range [member] | Interest rate risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 10.3 | ||
Top of range [member] | Equity price risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 7.8 | ||
Top of range [member] | Currency risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 6 | ||
Top of range [member] | Commodity price risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 3.5 | ||
Top of range [member] | Debt specific risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 4.8 | ||
Top of range [member] | Bank risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 15.7 | ||
Top of range [member] | Bank stressed risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 48.9 | ||
Bottom of range [member] | Credit risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 7.7 | ||
Bottom of range [member] | Credit spread [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 5.3 | ||
Bottom of range [member] | Interest rate risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 5.1 | ||
Bottom of range [member] | Equity price risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 1 | ||
Bottom of range [member] | Currency risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 2.5 | ||
Bottom of range [member] | Commodity price risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 1.3 | ||
Bottom of range [member] | Debt specific risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 2 | ||
Bottom of range [member] | Bank risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 9.2 | ||
Bottom of range [member] | Bank stressed risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | $ 26.7 |
Financial Instruments - Fair Va
Financial Instruments - Fair Value of Financial Assets and Liabilities Designated at Fair Value Through Profit or Loss and Changes in Fair Value (Detail) - CAD ($) $ in Millions | 3 Months Ended | |||
Jul. 31, 2019 | Apr. 30, 2019 | Jul. 31, 2018 | Oct. 31, 2018 | |
Disclosure of detailed information about financial instruments [line items] | ||||
Fair value | $ 13 | $ 14 | $ 12 | |
Investment securities [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Fair value | 13 | 14 | $ 15 | |
Change in Fair value | 0 | 0 | 0 | |
Cumulative change in FV | 0 | 0 | 0 | |
Senior note liabilities [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Fair value | 11,536 | 10,919 | 7,652 | |
Change in Fair value | (18) | (774) | (99) | |
Cumulative change in FV | $ (190) | $ (172) | $ 94 |
Financial Instruments - Changes
Financial Instruments - Changes in Fair Value Attributable to Changes in Bank'S Own Credit Risk for Financial Liabilities Designated at Fair Value (Detail) - Senior note liabilities [member] - CAD ($) $ in Millions | 6 Months Ended | 9 Months Ended | |
Apr. 30, 2019 | Jul. 31, 2019 | Jul. 31, 2018 | |
Disclosure of detailed information about financial instruments [line items] | |||
Contractual maturity amount | $ 10,747 | $ 11,346 | $ 7,746 |
Carrying value | 10,919 | 11,536 | 7,652 |
Difference between carrying value and contractual maturity amount | (172) | (190) | 94 |
Changes in fair value for the period attributable to changes in own credit risk recorded in other comprehensive income | (43) | 6 | 30 |
Cumulative changes in fair value due to changes in own credit risk | $ (79) | $ (73) | $ (20) |
Financial Instruments - Summa_2
Financial Instruments - Summary of Fair Values of Financial Instruments of Bank Using Valuation Methods and Assumption (Detail) - CAD ($) $ in Millions | Jul. 31, 2019 | Apr. 30, 2019 | Oct. 31, 2018 | |
Assets: | ||||
Cash and deposits with financial institutions | [1] | $ 45,262 | $ 50,121 | $ 62,269 |
Trading assets | 131,068 | 117,140 | 100,262 | |
Financial instruments designated at fair value through profit or loss | 13 | 14 | 12 | |
Securities purchased under resale agreements and securities borrowed | 119,478 | 126,090 | 104,018 | |
Derivative financial instruments | 36,157 | 31,358 | 37,558 | |
Customers' liability under acceptances | 13,923 | 12,823 | 16,329 | |
Liabilities: | ||||
Deposits | 722,346 | 712,282 | 676,534 | |
Financial instruments designated at fair value through profit or loss | 11,536 | 10,919 | 8,188 | |
Acceptances | 13,932 | 12,833 | 16,338 | |
Obligations related to securities sold short | 25,669 | 29,957 | 32,087 | |
Derivative financial instruments | 37,307 | 33,176 | 37,967 | |
Obligations related to securities sold under repurchase agreements and securities lent | 120,555 | 124,331 | 101,257 | |
Subordinated debentures | 9,021 | 7,554 | 5,698 | |
Gross carrying amount [member] | ||||
Assets: | ||||
Cash and deposits with financial institutions | 45,262 | 50,121 | 62,269 | |
Trading assets | 131,068 | 117,140 | 100,262 | |
Financial instruments designated at fair value through profit or loss | 13 | 14 | 12 | |
Securities purchased under resale agreements and securities borrowed | 119,478 | 126,090 | 104,018 | |
Derivative financial instruments | 36,157 | 31,358 | 37,558 | |
Investment securities - other | 58,366 | 61,214 | 57,653 | |
Investment securities - amortized cost | 24,226 | 23,932 | 20,743 | |
Loans | 589,243 | 583,815 | 551,834 | |
Customers' liability under acceptances | 13,923 | 12,823 | 16,329 | |
Other financial assets | 11,237 | 12,761 | 10,913 | |
Liabilities: | ||||
Deposits | 722,346 | 712,282 | 676,534 | |
Financial instruments designated at fair value through profit or loss | 11,536 | 10,919 | 8,188 | |
Acceptances | 13,932 | 12,833 | 16,338 | |
Obligations related to securities sold short | 25,669 | 29,957 | 32,087 | |
Derivative financial instruments | 37,307 | 33,176 | 37,967 | |
Obligations related to securities sold under repurchase agreements and securities lent | 120,555 | 124,331 | 101,257 | |
Subordinated debentures | 9,021 | 7,554 | 5,698 | |
Other financial liabilities | 36,948 | 37,601 | 34,805 | |
At fair value [member] | ||||
Assets: | ||||
Cash and deposits with financial institutions | 45,262 | 50,121 | 62,269 | |
Trading assets | 131,068 | 117,140 | 100,262 | |
Financial instruments designated at fair value through profit or loss | 13 | 14 | 12 | |
Securities purchased under resale agreements and securities borrowed | 119,478 | 126,090 | 104,018 | |
Derivative financial instruments | 36,157 | 31,358 | 37,558 | |
Investment securities - other | 58,366 | 61,214 | 57,653 | |
Investment securities - amortized cost | 24,318 | 23,820 | 20,316 | |
Loans | 595,696 | 588,619 | 553,758 | |
Customers' liability under acceptances | 13,923 | 12,823 | 16,329 | |
Other financial assets | 11,237 | 12,761 | 10,913 | |
Liabilities: | ||||
Deposits | 723,894 | 712,949 | 674,535 | |
Financial instruments designated at fair value through profit or loss | 11,536 | 10,919 | 8,188 | |
Acceptances | 13,932 | 12,833 | 16,338 | |
Obligations related to securities sold short | 25,669 | 29,957 | 32,087 | |
Derivative financial instruments | 37,307 | 33,176 | 37,967 | |
Obligations related to securities sold under repurchase agreements and securities lent | 120,555 | 124,331 | 101,257 | |
Subordinated debentures | 9,314 | 7,801 | 5,627 | |
Other financial liabilities | $ 37,532 | $ 38,030 | $ 35,432 | |
[1] | Net of impairment allowances of $3 (April 30, 2019 - $4; October 31, 2018 - $3). |
Financial Instruments - Summa_3
Financial Instruments - Summary of Fair Value Hierarchy of Instruments Carried at Fair Value on a Recurring Basis (Detail) - CAD ($) $ in Millions | Jul. 31, 2019 | Apr. 30, 2019 | Oct. 31, 2018 |
Assets: | |||
Precious metals | $ 3,572 | $ 3,543 | $ 3,191 |
Trading assets | |||
Loans | 14,158 | 13,104 | 14,334 |
Securities | 115,988 | 103,125 | 85,474 |
Other | 922 | 911 | 454 |
Derivative financial instruments | |||
Derivative Financial Assets | 36,157 | 31,358 | 37,558 |
Liabilities: | |||
Deposits | 722,346 | 712,282 | 676,534 |
Financial liabilities designated at fair value through profit or loss | 11,536 | 10,919 | 8,188 |
Obligations related to securities sold short | 25,669 | 29,957 | 32,087 |
Derivative financial instruments | |||
Derivative Financial Liabilities | 37,307 | 33,176 | 37,967 |
Recurring fair value measurement [member] | |||
Assets: | |||
Precious metals | 3,572 | 3,543 | 3,191 |
Trading assets | |||
Assets | 134,640 | 120,683 | 103,453 |
Financial assets designated at fair value through profit or loss | 13 | 14 | 12 |
Investment securities | |||
Investment securities | 58,366 | 61,214 | 57,653 |
Derivative financial instruments | |||
Derivative Financial Assets | 36,157 | 31,358 | 37,558 |
Liabilities: | |||
Deposits | 77 | (51) | (401) |
Financial liabilities designated at fair value through profit or loss | 11,536 | 10,919 | 8,188 |
Obligations related to securities sold short | 25,669 | 29,957 | 32,087 |
Derivative financial instruments | |||
Derivative Financial Liabilities | 37,307 | 33,176 | 37,967 |
Recurring fair value measurement [member] | Interest rate contracts [member] | |||
Derivative financial instruments | |||
Derivative Financial Liabilities | 12,808 | 10,600 | 11,086 |
Recurring fair value measurement [member] | Foreign exchange and gold contracts [member] | |||
Derivative financial instruments | |||
Derivative Financial Liabilities | 19,566 | 16,503 | 20,537 |
Recurring fair value measurement [member] | Equity contracts [member] | |||
Derivative financial instruments | |||
Derivative Financial Liabilities | 2,534 | 3,496 | 2,946 |
Recurring fair value measurement [member] | Credit contracts [member] | |||
Derivative financial instruments | |||
Derivative Financial Liabilities | 49 | 56 | 70 |
Recurring fair value measurement [member] | Commodity Contracts [member] | |||
Derivative financial instruments | |||
Derivative Financial Liabilities | 2,350 | 2,521 | 3,328 |
Recurring fair value measurement [member] | Trading loans [member] | |||
Trading assets | |||
Loans | 14,158 | 13,104 | 14,334 |
Recurring fair value measurement [member] | Canadian federal government and government guaranteed debt [member] | |||
Trading assets | |||
Securities | 14,931 | 15,303 | 13,003 |
Investment securities | |||
Investment securities | 10,876 | 8,915 | 8,891 |
Recurring fair value measurement [member] | Canadian provincial and municipal debt [member] | |||
Trading assets | |||
Securities | 7,776 | 6,892 | 10,159 |
Investment securities | |||
Investment securities | 2,918 | 3,004 | 4,352 |
Recurring fair value measurement [member] | U.S. treasury and other U.S. agency debt [member] | |||
Trading assets | |||
Securities | 12,544 | 10,974 | 7,164 |
Investment securities | |||
Investment securities | 18,174 | 22,705 | 19,141 |
Recurring fair value measurement [member] | Other foreign governments debt [member] | |||
Trading assets | |||
Securities | 9,727 | 6,640 | 6,443 |
Investment securities | |||
Investment securities | 20,057 | 18,846 | 19,990 |
Recurring fair value measurement [member] | Corporate and other debt [member] | |||
Trading assets | |||
Securities | 10,804 | 9,732 | 9,005 |
Investment securities | |||
Investment securities | 1,711 | 1,902 | 2,563 |
Recurring fair value measurement [member] | Income funds [member] | |||
Trading assets | |||
Securities | 40 | 35 | 29 |
Recurring fair value measurement [member] | Equity securities [member] | |||
Trading assets | |||
Securities | 60,166 | 53,549 | 39,671 |
Recurring fair value measurement [member] | Other trading assets [member] | |||
Trading assets | |||
Other | 922 | 911 | 454 |
Recurring fair value measurement [member] | Mortgage backed securities [member] | |||
Investment securities | |||
Investment securities | 2,461 | 3,787 | 906 |
Recurring fair value measurement [member] | Equity securities [member] | |||
Investment securities | |||
Investment securities | 2,169 | 2,055 | 1,810 |
Recurring fair value measurement [member] | Interest rate contracts [member] | |||
Derivative financial instruments | |||
Derivative Financial Assets | 13,732 | 10,488 | 9,039 |
Recurring fair value measurement [member] | Foreign exchange and gold contracts [member] | |||
Derivative financial instruments | |||
Derivative Financial Assets | 18,973 | 16,775 | 22,202 |
Recurring fair value measurement [member] | Equity contracts [member] | |||
Derivative financial instruments | |||
Derivative Financial Assets | 1,537 | 1,670 | 2,361 |
Recurring fair value measurement [member] | Credit contracts [member] | |||
Derivative financial instruments | |||
Derivative Financial Assets | 192 | 189 | 349 |
Recurring fair value measurement [member] | Commodity Contracts [member] | |||
Derivative financial instruments | |||
Derivative Financial Assets | 1,723 | 2,236 | 3,607 |
Level 1 [member] | Recurring fair value measurement [member] | |||
Trading assets | |||
Assets | 93,615 | 82,060 | 64,776 |
Financial assets designated at fair value through profit or loss | 13 | 14 | 12 |
Investment securities | |||
Investment securities | 37,510 | 38,294 | 37,238 |
Derivative financial instruments | |||
Derivative Financial Assets | 882 | 788 | 894 |
Liabilities: | |||
Obligations related to securities sold short | 22,170 | 25,327 | 24,563 |
Derivative financial instruments | |||
Derivative Financial Liabilities | 895 | 866 | 1,091 |
Level 1 [member] | Recurring fair value measurement [member] | Foreign exchange and gold contracts [member] | |||
Derivative financial instruments | |||
Derivative Financial Liabilities | 8 | 1 | |
Level 1 [member] | Recurring fair value measurement [member] | Equity contracts [member] | |||
Derivative financial instruments | |||
Derivative Financial Liabilities | 887 | 865 | 1,057 |
Level 1 [member] | Recurring fair value measurement [member] | Commodity Contracts [member] | |||
Derivative financial instruments | |||
Derivative Financial Liabilities | 34 | ||
Level 1 [member] | Recurring fair value measurement [member] | Canadian federal government and government guaranteed debt [member] | |||
Trading assets | |||
Securities | 13,374 | 13,514 | 13,003 |
Investment securities | |||
Investment securities | 8,202 | 6,350 | 6,373 |
Level 1 [member] | Recurring fair value measurement [member] | Canadian provincial and municipal debt [member] | |||
Investment securities | |||
Investment securities | 228 | 241 | 366 |
Level 1 [member] | Recurring fair value measurement [member] | U.S. treasury and other U.S. agency debt [member] | |||
Trading assets | |||
Securities | 12,544 | 10,974 | 7,164 |
Investment securities | |||
Investment securities | 17,686 | 22,198 | 18,472 |
Level 1 [member] | Recurring fair value measurement [member] | Other foreign governments debt [member] | |||
Trading assets | |||
Securities | 6,746 | 3,793 | 4,610 |
Investment securities | |||
Investment securities | 10,035 | 8,284 | 10,457 |
Level 1 [member] | Recurring fair value measurement [member] | Corporate and other debt [member] | |||
Trading assets | |||
Securities | 2 | 3 | 3 |
Investment securities | |||
Investment securities | 261 | 188 | 732 |
Level 1 [member] | Recurring fair value measurement [member] | Income funds [member] | |||
Trading assets | |||
Securities | 40 | 35 | 29 |
Level 1 [member] | Recurring fair value measurement [member] | Equity securities [member] | |||
Trading assets | |||
Securities | 59,987 | 52,830 | 39,513 |
Level 1 [member] | Recurring fair value measurement [member] | Other trading assets [member] | |||
Trading assets | |||
Other | 922 | 911 | 454 |
Level 1 [member] | Recurring fair value measurement [member] | Equity securities [member] | |||
Investment securities | |||
Investment securities | 1,098 | 1,033 | 838 |
Level 1 [member] | Recurring fair value measurement [member] | Foreign exchange and gold contracts [member] | |||
Derivative financial instruments | |||
Derivative Financial Assets | 2 | 2 | 5 |
Level 1 [member] | Recurring fair value measurement [member] | Equity contracts [member] | |||
Derivative financial instruments | |||
Derivative Financial Assets | 837 | 778 | 797 |
Level 1 [member] | Recurring fair value measurement [member] | Commodity Contracts [member] | |||
Derivative financial instruments | |||
Derivative Financial Assets | 43 | 8 | 92 |
Level 2 [member] | Recurring fair value measurement [member] | |||
Assets: | |||
Precious metals | 3,571 | 3,504 | 3,175 |
Trading assets | |||
Assets | 41,010 | 38,569 | 38,643 |
Investment securities | |||
Investment securities | 19,995 | 22,097 | 19,645 |
Derivative financial instruments | |||
Derivative Financial Assets | 35,262 | 30,539 | 36,544 |
Liabilities: | |||
Deposits | 77 | (51) | (401) |
Financial liabilities designated at fair value through profit or loss | 11,536 | 10,919 | 8,188 |
Obligations related to securities sold short | 3,499 | 4,630 | 7,524 |
Derivative financial instruments | |||
Derivative Financial Liabilities | 36,390 | 32,288 | 36,797 |
Level 2 [member] | Recurring fair value measurement [member] | Interest rate contracts [member] | |||
Derivative financial instruments | |||
Derivative Financial Liabilities | 12,786 | 10,580 | 11,012 |
Level 2 [member] | Recurring fair value measurement [member] | Foreign exchange and gold contracts [member] | |||
Derivative financial instruments | |||
Derivative Financial Liabilities | 19,558 | 16,502 | 20,537 |
Level 2 [member] | Recurring fair value measurement [member] | Equity contracts [member] | |||
Derivative financial instruments | |||
Derivative Financial Liabilities | 1,647 | 2,629 | 1,884 |
Level 2 [member] | Recurring fair value measurement [member] | Credit contracts [member] | |||
Derivative financial instruments | |||
Derivative Financial Liabilities | 49 | 56 | 70 |
Level 2 [member] | Recurring fair value measurement [member] | Commodity Contracts [member] | |||
Derivative financial instruments | |||
Derivative Financial Liabilities | 2,350 | 2,521 | 3,294 |
Level 2 [member] | Recurring fair value measurement [member] | Trading loans [member] | |||
Trading assets | |||
Loans | 14,158 | 13,104 | 14,334 |
Level 2 [member] | Recurring fair value measurement [member] | Canadian federal government and government guaranteed debt [member] | |||
Trading assets | |||
Securities | 1,557 | 1,789 | |
Investment securities | |||
Investment securities | 2,674 | 2,565 | 2,518 |
Level 2 [member] | Recurring fair value measurement [member] | Canadian provincial and municipal debt [member] | |||
Trading assets | |||
Securities | 7,776 | 6,892 | 10,159 |
Investment securities | |||
Investment securities | 2,690 | 2,763 | 3,986 |
Level 2 [member] | Recurring fair value measurement [member] | U.S. treasury and other U.S. agency debt [member] | |||
Investment securities | |||
Investment securities | 488 | 507 | 669 |
Level 2 [member] | Recurring fair value measurement [member] | Other foreign governments debt [member] | |||
Trading assets | |||
Securities | 2,981 | 2,847 | 1,833 |
Investment securities | |||
Investment securities | 9,991 | 10,531 | 9,485 |
Level 2 [member] | Recurring fair value measurement [member] | Corporate and other debt [member] | |||
Trading assets | |||
Securities | 10,788 | 9,714 | 8,984 |
Investment securities | |||
Investment securities | 1,431 | 1,698 | 1,818 |
Level 2 [member] | Recurring fair value measurement [member] | Equity securities [member] | |||
Trading assets | |||
Securities | 179 | 719 | 158 |
Level 2 [member] | Recurring fair value measurement [member] | Mortgage backed securities [member] | |||
Investment securities | |||
Investment securities | 2,461 | 3,787 | 906 |
Level 2 [member] | Recurring fair value measurement [member] | Equity securities [member] | |||
Investment securities | |||
Investment securities | 260 | 246 | 263 |
Level 2 [member] | Recurring fair value measurement [member] | Interest rate contracts [member] | |||
Derivative financial instruments | |||
Derivative Financial Assets | 13,720 | 10,459 | 8,927 |
Level 2 [member] | Recurring fair value measurement [member] | Foreign exchange and gold contracts [member] | |||
Derivative financial instruments | |||
Derivative Financial Assets | 18,971 | 16,773 | 22,197 |
Level 2 [member] | Recurring fair value measurement [member] | Equity contracts [member] | |||
Derivative financial instruments | |||
Derivative Financial Assets | 699 | 890 | 1,556 |
Level 2 [member] | Recurring fair value measurement [member] | Credit contracts [member] | |||
Derivative financial instruments | |||
Derivative Financial Assets | 192 | 189 | 349 |
Level 2 [member] | Recurring fair value measurement [member] | Commodity Contracts [member] | |||
Derivative financial instruments | |||
Derivative Financial Assets | 1,680 | 2,228 | 3,515 |
Level 3 [member] | Recurring fair value measurement [member] | |||
Assets: | |||
Precious metals | 1 | 39 | 16 |
Trading assets | |||
Assets | 15 | 54 | 34 |
Investment securities | |||
Investment securities | 861 | 823 | 770 |
Derivative financial instruments | |||
Derivative Financial Assets | 13 | 31 | 120 |
Derivative financial instruments | |||
Derivative Financial Liabilities | 22 | 22 | 79 |
Level 3 [member] | Recurring fair value measurement [member] | Interest rate contracts [member] | |||
Derivative financial instruments | |||
Derivative Financial Liabilities | 22 | 20 | 74 |
Level 3 [member] | Recurring fair value measurement [member] | Equity contracts [member] | |||
Derivative financial instruments | |||
Derivative Financial Liabilities | 2 | 5 | |
Level 3 [member] | Recurring fair value measurement [member] | Other foreign governments debt [member] | |||
Investment securities | |||
Investment securities | 31 | 31 | 48 |
Level 3 [member] | Recurring fair value measurement [member] | Corporate and other debt [member] | |||
Trading assets | |||
Securities | 14 | 15 | 18 |
Investment securities | |||
Investment securities | 19 | 16 | 13 |
Level 3 [member] | Recurring fair value measurement [member] | Equity securities [member] | |||
Investment securities | |||
Investment securities | 811 | 776 | 709 |
Level 3 [member] | Recurring fair value measurement [member] | Interest rate contracts [member] | |||
Derivative financial instruments | |||
Derivative Financial Assets | 12 | 29 | 112 |
Level 3 [member] | Recurring fair value measurement [member] | Equity contracts [member] | |||
Derivative financial instruments | |||
Derivative Financial Assets | $ 1 | $ 2 | $ 8 |
Financial Instruments - Summa_4
Financial Instruments - Summary of Fair Value Hierarchy of Instruments Carried at Fair Value on a Recurring Basis (Parenthetical) (Detail) - CAD ($) $ in Millions | Jul. 31, 2019 | Apr. 30, 2019 | Oct. 31, 2018 |
Gross carrying amount [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Investment securities measured at amortized cost | $ 24,226 | $ 23,932 | $ 20,743 |
Financial Instruments - Summa_5
Financial Instruments - Summary of Changes in Level 3 Instruments Carried at Fair Value (Detail) - Level 3 [member] - CAD ($) $ in Millions | 3 Months Ended | ||
Jul. 31, 2019 | Apr. 30, 2019 | Oct. 31, 2018 | |
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | |||
Fair value, beginning balance | $ 886 | ||
Gains/(losses) recorded in income | (12) | ||
Gains/(losses) recorded in OCI | 11 | ||
Purchases/ Issuances | 45 | ||
Sales/ Settlements | (64) | ||
Transfers into/out of Level 3 | 1 | ||
Fair value, ending balance | 867 | $ 886 | |
Change in unrealized gains/(losses)recorded in income for instruments still held | (12) | ||
Precious metals [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | |||
Fair value, beginning balance | 39 | ||
Sales/ Settlements | (38) | ||
Fair value, ending balance | 1 | 39 | |
Derivative financial instruments [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | |||
Fair value, beginning balance | 9 | 9 | $ 28 |
Gains/(losses) recorded in income | (19) | (2) | 2 |
Gains/(losses) recorded in OCI | 0 | 0 | 0 |
Purchases/ Issuances | (1) | ||
Sales/ Settlements | 1 | ||
Transfers into/out of Level 3 | 1 | 2 | 11 |
Fair value, ending balance | (9) | 9 | 41 |
Change in unrealized gains/(losses)recorded in income for instruments still held | (19) | ||
Trading assets [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | |||
Fair value, beginning balance | 15 | 18 | 20 |
Sales/ Settlements | (7) | (2) | |
Transfers into/out of Level 3 | 4 | ||
Fair value, ending balance | 15 | 18 | |
Trading assets [member] | Corporate debt and other debt [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | |||
Fair value, beginning balance | 15 | ||
Sales/ Settlements | (1) | ||
Fair value, ending balance | 14 | 15 | |
Investment securities [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | |||
Fair value, beginning balance | 823 | 749 | 750 |
Gains/(losses) recorded in income | 7 | 5 | 9 |
Gains/(losses) recorded in OCI | 11 | 17 | |
Purchases/ Issuances | 46 | 92 | 70 |
Sales/ Settlements | (26) | (36) | (39) |
Transfers into/out of Level 3 | (4) | (20) | |
Fair value, ending balance | 861 | 823 | 770 |
Change in unrealized gains/(losses)recorded in income for instruments still held | 7 | ||
Investment securities [member] | Other foreign governments debt [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | |||
Fair value, beginning balance | 31 | ||
Fair value, ending balance | 31 | 31 | |
Investment securities [member] | Corporate and other debt [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | |||
Fair value, beginning balance | 16 | ||
Gains/(losses) recorded in OCI | 3 | ||
Fair value, ending balance | 19 | 16 | |
Investment securities [member] | Equity securities [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | |||
Fair value, beginning balance | 776 | ||
Gains/(losses) recorded in income | 7 | ||
Gains/(losses) recorded in OCI | 8 | ||
Purchases/ Issuances | 46 | ||
Sales/ Settlements | (26) | ||
Fair value, ending balance | 811 | 776 | |
Change in unrealized gains/(losses)recorded in income for instruments still held | 7 | ||
Derivative Financial Assets [member] | Interest rate contracts [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | |||
Fair value, beginning balance | 29 | ||
Gains/(losses) recorded in income | (12) | ||
Sales/ Settlements | (5) | ||
Fair value, ending balance | 12 | 29 | |
Change in unrealized gains/(losses)recorded in income for instruments still held | (12) | ||
Derivative Financial Assets [member] | Equity contracts [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | |||
Fair value, beginning balance | 2 | ||
Transfers into/out of Level 3 | (1) | ||
Fair value, ending balance | 1 | 2 | |
Precious metals [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | |||
Fair value, beginning balance | 39 | 14 | 11 |
Purchases/ Issuances | 25 | 5 | |
Fair value, ending balance | 39 | $ 16 | |
Interest rate contracts [member] | Derivative financial liabilities [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | |||
Fair value, beginning balance | (20) | ||
Gains/(losses) recorded in income | (7) | ||
Gains/(losses) recorded in OCI | 0 | ||
Purchases/ Issuances | (1) | ||
Sales/ Settlements | 6 | ||
Fair value, ending balance | (22) | (20) | |
Change in unrealized gains/(losses)recorded in income for instruments still held | (7) | ||
Equity contracts [member] | Derivative financial liabilities [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | |||
Fair value, beginning balance | (2) | ||
Gains/(losses) recorded in OCI | 0 | ||
Transfers into/out of Level 3 | $ 2 | ||
Fair value, ending balance | $ (2) |
Corporate Income Taxes- Additio
Corporate Income Taxes- Additional Information (Detail) - CAD ($) $ in Millions | Jun. 30, 2018 | Aug. 31, 2017 | Nov. 30, 2016 |
2011 taxation year [member] | |||
Disclosure Of Income Taxes [line items] | |||
Reassessed tax by Canada Revenue Agency | $ 179 | ||
2012 taxation year [member] | |||
Disclosure Of Income Taxes [line items] | |||
Reassessed tax by Canada Revenue Agency | $ 185 | ||
2013 taxation year [member] | |||
Disclosure Of Income Taxes [line items] | |||
Reassessed tax by Canada Revenue Agency | $ 211 |
Acquisitions and Divestitures -
Acquisitions and Divestitures - Additional Information (Detail) - CAD ($) | Jul. 31, 2019 | Jun. 26, 2019 | Apr. 30, 2019 | Feb. 08, 2019 | Jan. 31, 2020 | Mar. 01, 2019 |
Disclosure of detailed information about business combination [line items] | ||||||
Investment to purchase additional common shares | $ 20,000 | |||||
Insurance and Banking Operations [member] | EL SALVADOR | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Expected after tax loss on sale of operations | $ (132,000,000) | |||||
Other smaller operating segments and corporate adjustments [member] | Puerto Rico and US Virgin Islands [member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Expected after tax loss on sale of operations | $ (402,000,000) | |||||
TMB and TBank (Merged Bank) [member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Percentage of controlling interest | 6.00% | |||||
TMB and TBank (Merged Bank) [member] | Major business combination [member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Gain on sale of subsidiary after tax | $ 300,000,000 | |||||
Common equity tier one capital ratio | 0.25% | |||||
TBank subsidiaries [member] | Major business combination [member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Percentage of controlling interest | 49.00% | |||||
Thanachart bank public company limited [member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Percentage of controlling interest | 49.00% | |||||
Equity interests of acquirer | $ 3,450,000,000 | |||||
Banco Dominicano del Progreso, Dominican Republic [member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Percentage of controlling interest | 97.44% | |||||
Assets acquired | 1,800,000,000 | |||||
Liabilities assumed | 1,400,000,000 | |||||
Banco Cencosud, Peru [member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Percentage of controlling interest | 51.00% | |||||
Assets acquired | 400,000,000 | |||||
Liabilities assumed | $ 300,000,000 | |||||
Scotia Crecer AFP and Scotia Seguros [member] | Dominican Republic [member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Gain on sale of subsidiary after tax | $ 273,000,000 |
Acquisitions and Divestitures_2
Acquisitions and Divestitures - Summary of Dividend Record and Payment Dates (Detail) | 9 Months Ended |
Jul. 31, 2019 | |
Dividend record date one [member] | |
Disclosure of detailed information about business combination [line items] | |
Record Date | Jan. 2, 2019 |
Dividend record date two [member] | |
Disclosure of detailed information about business combination [line items] | |
Record Date | Apr. 2, 2019 |
Dividend record date three [member] | |
Disclosure of detailed information about business combination [line items] | |
Record Date | Jul. 2, 2019 |
Dividend record date four [member] | |
Disclosure of detailed information about business combination [line items] | |
Record Date | Oct. 1, 2019 |
January 2, 2019 [member] | |
Disclosure of detailed information about business combination [line items] | |
Payment Date | Jan. 29, 2019 |
April 2, 2019 [member] | |
Disclosure of detailed information about business combination [line items] | |
Payment Date | Apr. 26, 2019 |
July 2, 2019 [member] | |
Disclosure of detailed information about business combination [line items] | |
Payment Date | Jul. 29, 2019 |
October 1, 2019 [member] | |
Disclosure of detailed information about business combination [line items] | |
Payment Date | Oct. 29, 2019 |