QX I’d results. call Thank our to to over outlook the to presentation morning, will I our our start year discussing Raj like ahead. you, and by then good XXXX Phil, for and full everyone. year today turn review the
year the the ahead, expect with the our and for Beginning growth been despite outlook improvement activity. modest XXXX U.S have global sentiment trade we in on which macroeconomic a between business weighing and in China tensions
fiscal the in light levels consumer in U.S employment a of We population solid good expect and and Canada, remained leaning and slowing economy, growth, confidence. a driven robust trade stronger accommodative In wage as activity the of modest monetary policy, uncertainty weigh consumer confidence. package of despite by market immigration, stimulus strong economic business housing and XXXX resilient growth on impacts growth U.S. the of the
We in U.S the a unlikely recession continue near-term. the in Canada in to believe here that or is
supports rates our Canada view, calls balance this policy by In for outlook cuts outlook as XXXX year a additional our as and in for growth. the of Our interest interest rates in with deal and uncertainty. global early followed U.S. continued the the for stable for central economic accommodative banks stands
and slowing growth outlook developments. to and stable improvement GDP due Mexico in Pacific modest local Colombia, Alliance, an of the Peru in growth In XXXX for Chile, political for is the in growth in a
proven be growth countries on past, constructively. The Pacific will GDP are issues region. confident, have the average resolved expect for in X% we and the Alliance any above resilient We
our the to in have the XX and region. prospects the long-term for over are supporting we remain experience confident years and customers region We committed in very
efforts repositioning XXXX, are substantially complete. the As Bank's we enter
Over higher and footprint, we simplified to have Bank's the years, ratios. the earnings capital improved past path quality a four provided
Importantly, higher footprint growth meaningfully considerable and for This strength strategic the the including these greater focused more risk Americas, Bank's lower long-term provides and benefits with in by important core exiting steps optionality a jurisdictions. in reduced the scale markets. have profile our and Bank, risk
In addition, the $XXX XXXX approximately collectively after-tax million of will divestitures to shareholders. closing in result in gain an
our fiscal to earnings Turning outlook for XXXX.
From expected the and the range, single-digit Banking Global Bank in single-digits. mid Wealth deliver range, single-digit mid divestitures. in a will Banking Management organic to high and impact Canadian the the low expect in We Markets International also Banking line to range. excluding growth the of single-digits is the to perspective, in mid grow single-digit grow business the high in Global
divestitures they of update We impact will as continue to our the close.
significant the Thanachart complex in most multiple a Thailand is Bank benefit It have earnings counterparties XXXX impact transaction involves dates. has different to and and ratios. closing will will capital that
they in announced XXXX closing close will early depend throughout another, date expected all XXXX. later with when of year. The in to first The on divestitures December, earnings the contribution is
We will estimate Day provide position XXXX. a at January to updated Investor be in better an in our
closed establishment QX and the We reflect first line, lines of quarter. business package divestitures Wealth to to our supplementary standalone the a of also a four to January XXXX in as release in pursuant expect business Management the impact restated our Global
our grow across continued in synergies core any have many to to continue offset of including acquisition including divestitures, considerable share platform earnings our superior We and markets, to capital from deployment share optionality impact growth buybacks. per
additional of TMB optionality retain Bank, during the which We interest course X% the in Thanachart will also year. a the provides merged
objectives we remain for has us the an sustainable medium term for made position even growth to progress better that long-term initiatives Bank significant Bank. and The our strategic on committed
X, I our contributions discuss changes business expected the of Management line effective of earnings mix. as a will November establishment earnings. business fourth and line Global line in Wealth will the now to result XXXX Bank's XXXX to The business closing divestitures
contribute between from We Canadian XX% Bank Global all and to XX% XX% XX%. XX%, approximately to between Banking and Banking International earnings, XX% XX% Markets Management of Wealth anywhere expect and and Global Banking
The while with technology, growth Bank while in generating managing in invest expense line positive business growth, to in will operating remain initiatives, and growth focused on regulatory revenue leverage continuing XXXX.
moderate the gross growth, the impaired key expense Bank historical and in in The growth of driver formations loan credit credit a stable, quality delinquency major single-digits. strong. the metrics to remain overall including remains for to XXXX slightly technology rate. expect rate We investment, high steady-state write-offs, Overall, net
be variation factors any ratios to macroeconomic mix. by expect changes and driven our in our diversified in PCL by portfolio mitigated We
outlook to -- for slightly Our is slightly in or PCL ratio increased stable higher XXXX.
business Banking the Canadian be revenue ROE including lines. to Turning for business outlook banking growth cards. credit driving entire and will our businesses, focused across its on higher
it Tangerine growth leadership digital banking. We expect as restricts from further continued its in
Continued leverage productivity positive in will improvements XXXX. support operating
XX% are Management focused Americas and in Markets by Banking, assets, core we two of International well-positioned leveraging growth the generating acquired resulted Global repositioning billion. is growing the completed In with markets. end strategic have acquisitions, The MD Bank's to along and integrated on Financial management In businesses. improved has footprint. $XXX our we Fraser; the earnings in XXXX, of and both stable Jarislowsky, under largely business XXXX approximately successfully have Global since assets over Wealth the and Banking performance, by unique
for is having for our and Bank. financial to of strategic flexibility levels equity capital Our ratio a both It provides capital the that is maintain goal XX.X%. strong XXXX Tier common X belief approximately
ratio Tier which basis, from forma have not is the this announced equity yet a X reflecting pro XX.XX% benefits divestitures, have common quarter on Our but been closed.
Beginning XX% substantial the dividend This dividend outlook dividend quarter. in us our while also second once the us dividend approach in in of To consistent our be a some banks has growth with understand to strong successful XX%. to in prudently provide continue the more its deployment, ratio capital of to dividend decisions a a importance annually share to program, over maintain policy history, capital be managing We provides future for set reflects we both make which largest decisions The dividend aligns deployment. will We level. target XXXX, prudent record committed of and our RWAs to buyback active our our fiscal and America. better and remain our will we with North ensure Bank dividends, of most of should increases a dividend in and shareholders shareholders. time, to the at profitability made year provide to growth policy between flexibility and the payout to same consistent strong believe
to now offer further Raj, over the turn will remarks. the at to I return will I some call but end
