"Our customer assistance programs are working effectively across all of our markets," said
The updated disclosure is available on the Bank's Investor Relations website.
Key highlights (as at
- Canadian Retail:
$39 billion of active deferral exposure, down from$41.5 billion as ofJuly 31, 2020 . Active deferral exposure includes: mortgages of$37.3 billion , auto loans of$1.3 billion , credit cards of$0.1 billion , and other personal loans of$0.3 billion . Of deferrals which have expired, 96.8% of customers remain current on their payments. - For customers whose mortgage deferrals have expired, 99% are current on their payments. For customers with active mortgage deferrals, approximately 40% are insured while the balance of uninsured mortgages have FICO scores on average greater than 750.
- 77% of Canadian Personal Loan deferrals were for auto loans, reflecting Scotiabank's leading market share in automotive lending, and 94% of customers whose personal loan deferrals have expired remain current on their payments.
- International Retail:
$12 billion of active deferral exposure, down from$18.1 billion as ofJuly 31, 2020 . 92% of international retail customers remain current on their payments on deferrals that have expired. - Commercial and Small Business:
The following figures relate to active deferral exposure and exclude amounts related to covenant relief requests. This differs from previous disclosures but is in line with industry practice. Canada :$1.6 billion of active deferral exposure, down from$1.9 billion as ofJuly 31, 2020 .- International: $7.5 billion of active deferral exposure, down from
$8.3 billion as ofJuly 31, 2020 .
Throughout the pandemic, Scotiabank has strived to support its customers with assistance programs for individuals and businesses that have helped to alleviate some of the challenges brought on by COVID-19.
About Scotiabank
Scotiabank is a leading bank in the
SOURCE Scotiabank
© Canada Newswire, source