we I our Thank begin like and employees, the pandemic our my morning it impact communities discussing to and by customers would the you, serve. today has good Phil COVID-XX and everyone. remarks had the on
and understanding. customers Firstly, patience I for sincerely our like would their to thank loyalty,
As are recognize I employees customers, commitment we centers, provide in your also loyal for would providing employees advice operation of the or is millions support to the Scotiabank service, and services behalf you. bank, of extend to our relief all have they support Scotiabank to here for centers above need. customers branches, to leadership dedication thanks like On our our our to team, to it would of and bank’s call and employees my whether with and I like their banking customers. beyond critical sincere gone
We are appreciative proud their efforts. and of
the to maintained customers, safety bank close began, our the We ensuring quick the to would to of high I to operations very was to in and a the employees. the pandemic of policy recognize Canada. from coordination and characterized of like and sector. level the been Canada the of The Since also quickly. banking policymakers recognize response response swift has the Bank a threat adapt crisis strong and as also while the our support Government by between normal cooperation possible
apparent. the in beginning We the became have as continuity pandemic February a threat business of late planning more
branch tools our remote in and recent popular excluding resilience. key has the of online operational to the the digital Our with programs. It developed our and crisis our role as shift have during for relief in is while considerable our channel smoothly a teams allowed employees, technology to work has to The most assist our net staff XX% service quickly response to over rapidly new emerged technology played environments, that investments has pandemic. years, customers result customers banking
supported by with have safety by of adding measures our network We through centers. customers approximately branch keeping our global XX% appropriate capacity also our call open and
relief to we and act assistance customers I said have shock represents we absorber loan have to certainly have an we To-date, totaling increase on that businesses here of our X $XX $XX provided Alliance, times XXX,XXX billion. loans difficulty true is financial in billion. billion commercial the corporate today. The it support X% in clients is in Canada across over of of to the of book over and as over often quarter. banking applications customer on our $XX footprint. small in previous in true To additional million role businesses, in of approximately loans growth totaling processed loans to the was times loans Pacific crisis and provided have a In over
lending customers support to over $XXX total Our totals billion.
businesses deferrals at payment significantly markets we request that week peaked here of We facilitated in to first point and for capital Canada April have access tracking now totaling like out are $XXX to also would I lower for additional billion. the financing at an levels.
A on significant that percentage as deposits. to business back, have the of were facilities towards pre-pandemic peaked also levels. facilities similar Consumer daily card on improved credit country. in the in timing programs spending pattern on measured in now America has a down lending funds bank deferral March drawn late to normal and returned lending We Latin spending and pre-pandemic in by as Canada wholesale each have we business Draw-downs are of debit witnessed levels. depending
also beginning debt see as to active. are markets remains very We capital repayments
communities who hospitals in at support We million gratitude public support for our by committing the crisis. their are professionals. They including over face support to courage this our and footprint most healthcare our $XX ongoing our risk unprecedented are of across during deserve proud also people to the pandemic, of health
For and to communities, support the strong. it financially its must bank customers be
While our and results by operating impacted all second be divisions to were COVID-XX, its quarter significantly the bank continue profitable.
a credit from perspective liquidity losses. reserved potential capital well-positioned appropriately and for are are and we We
is Tier buffer, Our common domestic expected the regulatory OSFI’s equity RWA accommodate in stability enough XXX With billion equity ratio represents and basis of $XX minimum more RWA or in the reduction comfortably in of levels. X of over which XX.X% the inflation. growth excess additional to common current customer ratio Tier was from quarter, than and capital excess X.X% X point the billion $X additional demand
which recent liquidity of quarters. above recent at position bank’s appropriate our for is the bank’s above with strong XXX%, the also conditions. well The The ratio of coverage at years billion, which current is liquidity high-quality level liquid well stands is assets market and $XXX pool
coverage be with carry strong and high funded also ratios Alliance well our across liquidity We XXX%. with levels growth deposits wholesale in The access XXX% liquidity with between bank Pacific steady funding. and of countries to continues to
program pandemic, funding been markets. a secured both While maintain we multiple markets were at robust in outset funding able volatile have the across currencies unsecured the and of to
is pandemic funding by have actions governments end worth take the been banks central have better noting effect. and spreads become since it has In policy begun to narrowing as and addition, March understood of that the
In the terms bank for appropriate to of potential losses. is credit, credit reserve
at which a total scenario in that more we pessimistic We million to allowances added allowances. added quarter, now or over QX, Recall $XXX which added XX% have fourth over $X billion. to stands over $X billion this
early and conservatively. We continue provision to
quality asset Our high strong investment remains and levels of secured assets. with grade
diversified also geography. by are We highly and product, sector by by
our to impacted limited loans efforts details exposure exposures. Daniel of sectors further COVID-XX is substantial loan Our years. de-risking in X.X% most provide reflecting total at by prior will on
pandemic. slowed lower by the related was retail quarter customer to to the due in growth activity Revenue the shutdowns
very Expenses we employees as partially in helped benefits strong environments. my results made management to safety detail in work with the certain and wealth higher in investments following this higher good remote diversified However, results offset enhanced financial support compensation, remarks. will This Raj to our were weakness. GBM and business discuss workplace measures, highlights our our of results model.
I policy and as have Canada, quick illustrated This the many actions qualities commented and to has the Alliance times monetary on markets quickly to United to the effectively. lower and measures. the these virus. form and of qualities impact the in of the countries to introduce country have Pacific response positive support the capacity similarly and institutional our came positive pandemic fiscal strength was core these Critically, interest further of the each six mitigate States substantial the countries. fiscal The fiscal stimulus other economic respond rates, of
Over will the chains long-term, economic prove future resilience, their diversified their supply be and beneficial young growth. for populations increasing importance to the of
As processed through channel we been have our XX% Over our support Canada XX% have of has payment strived of customers. in international our to as requests the the deferral during channels requests preferred deferral customers online. banking pandemic, in for emerged digital payment and
by seen to drive our and also growth helped iTRADE. acceleration adoption has also We digital an customers. in Tangerine have This at strong
followed for economic This current While pandemic, expectation of the by in XXXX. orderly for economic return economies current uncertain, is our makes growth stronger highly both core of growth our abatement impact the reopening a negative an markets. reflects positive environment programs of and of in markets the the the core unprecedented outlook to across XXXX levels gradual relief of our the balance
levels be lower to banking P&C the lines in remain will revenue the to expect for provisions four year, loss loan in also from expect normal we elevated we profitable. Although all and of that balance QX business be
results I remarks the review at Q&A. will return our call who end Thanks. financial now will the and closing with Raj I pass of will to some
