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Loans, Impaired Loans and Allowance for Credit Losses (Tables)
 12 Months Ended
Oct. 31, 2025
Text Block [Abstract]  
Disclosure of loans at amortized cost
(a)
Loans at amortized cost
 
   
2025
    
2024
  
As at October 31 ($ millions)  
Gross
loans
    
Allowance
for credit
losses
    
Net
carrying
amount
    
Gross
loans
    
Allowance
for credit
losses
    
Net
carrying
amount
  
Residential mortgages
  
$
370,191
 
  
$
1,460
 
  
$
368,731
 
   $  350,941     $  1,208     $  349,733  
Personal loans
  
 
110,567
 
  
 
2,432
 
  
 
108,135
 
     106,379       2,319       104,060  
Credit cards
  
 
18,045
 
  
 
1,355
 
  
 
16,690
 
     17,374       1,160       16,214  
Business and government
  
 
279,705
 
  
 
2,216
 
  
 
277,489
 
     292,671       1,849       290,822  
Total
  
$
 778,508
 
  
$
 7,463
 
  
$
 771,045
 
   $ 767,365     $ 6,536     $ 760,829  
Schedule of Loans and Acceptances Outstanding by Geography
(b)
Loans and acceptances outstanding by geography
(1)
 
As at October 31 ($ millions)  
2025
    
2024
  
Canada:
    
Residential mortgages
  
$
 312,131
 
   $  297,677  
Personal loans
  
 
82,764
 
     82,892  
Credit cards
  
 
9,018
 
     8,982  
Business and government
  
 
128,086
 
     133,810  
 
 
531,999
 
     523,361  
United States:
    
Personal loans
  
 
5,965
 
     4,009  
Business and government
  
 
56,171
 
     55,237  
 
 
62,136
 
     59,246  
Mexico:
    
Residential mortgages
  
 
18,980
 
     16,749  
Personal loans
  
 
3,436
 
     2,615  
Credit cards
  
 
1,048
 
     832  
Business and government
  
 
22,232
 
     23,994  
 
 
45,696
 
     44,190  
Chile:
    
Residential mortgages
  
 
21,739
 
     20,410  
Personal loans
  
 
5,125
 
     4,868  
Credit cards
  
 
4,076
 
     3,551  
Business and government
  
 
20,171
 
     20,330  
 
 
51,111
 
     49,159  
Peru:
    
Residential mortgages
  
 
4,625
 
     4,113  
Personal loans
  
 
5,801
 
     5,623  
Credit cards
  
 
492
 
     757  
Business and government
  
 
11,125
 
     10,545  
 
 
22,043
 
     21,038  
Colombia:
    
Residential mortgages
  
 
2,384
 
     2,196  
Personal loans
  
 
2,885
 
     2,186  
Credit cards
  
 
1,540
 
     1,446  
Business and government
  
 
6,481
 
     5,518  
 
 
13,290
 
     11,346  
Other International:
    
Residential mortgages
  
 
10,332
 
     9,796  
Personal loans
  
 
4,591
 
     4,186  
Credit cards
  
 
1,871
 
     1,806  
Business and government
  
 
35,439
 
     43,237  
 
 
52,233
 
     59,025  
Total loans
  
 
778,508
 
     767,365  
Acceptances
(2)
  
 
177
 
     148  
Total loans and acceptances
(3)
  
 
778,685
 
     767,513  
Allowance for credit losses
  
 
(7,463
) 
     (6,537 ) 
Total loans and acceptances net of allowance for credit losses
  
$
771,222
 
   $ 760,976  
 
(1)
Geographic segmentation is based on the location of the property for residential mortgages; otherwise, the residence of the borrower.
(2)
98.8% of acceptances reside outside Canada (October 31, 2024 –
96.5
%).
(3)
Loans and acceptances denominated in U.S. dollars were $119,788 (2024 – $137,804), in Chilean pesos $10,885 (2024 – $39,425), Mexican pesos $12,754 (2024 – $31,522), and in other foreign currencies $24,665 (2024 – $54,549).
Schedule of Loans Maturities
(c)
Loan maturities
 
As at October 31, 2025  
Remaining term to maturity
    
Rate sensitivity
  
($ millions)  
Within
one year
    
One to
five years
    
Five to
ten years
    
Over
ten years
    
No specific
maturity
    
Total
    
Floating
    
Fixed rate
    
Non-rate

sensitive
    
Total
  
Residential mortgages
  
$
92,485
 
  
$
228,818
 
  
$
18,398
 
  
$
25,699
 
  
$
4,791
 
  
$
370,191
 
  
$
111,631
 
  
$
253,782
 
  
$
4,778
 
  
$
370,191
 
Personal loans
  
 
21,114
 
  
 
37,982
 
  
 
5,341
 
  
 
1,269
 
  
 
44,861
 
  
 
110,567
 
  
 
50,887
 
  
 
58,258
 
  
 
1,422
 
  
 
110,567
 
Credit cards
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
18,045
 
  
 
18,045
 
  
 
–
 
  
 
18,045
 
  
 
–
 
  
 
18,045
 
Business and government
  
 
141,324
 
  
 
121,364
 
  
 
9,003
 
  
 
644
 
  
 
7,370
 
  
 
279,705
 
  
 
205,000
 
  
 
71,634
 
  
 
3,071
 
  
 
279,705
 
Total
  
$
 254,923
 
  
$
 388,164
 
  
$
 32,742
 
  
$
 27,612
 
  
$
 75,067
 
  
$
 778,508
 
  
$
 367,518
 
  
$
 401,719
 
  
$
 9,271
 
  
$
 778,508
 
Allowance for credit losses
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
(7,463
) 
  
 
(7,463
) 
  
 
–
 
  
 
–
 
  
 
(7,463
) 
  
 
(7,463
) 
Total loans net of allowance for credit losses
  
$
254,923
 
  
$
388,164
 
  
$
32,742
 
  
$
27,612
 
  
$
67,604
 
  
$
771,045
 
  
$
367,518
 
  
$
401,719
 
  
$
1,808
 
  
$
771,045
 
As at October 31, 2024  
Remaining term to maturity
    
Rate sensitivity
  
($ millions)  
Within
one year
    
One to
five years
    
Five to
ten years
    
Over
ten years
    
No specific
maturity
    
Total
    
Floating
    
Fixed rate
    
Non-rate

sensitive
    
Total
  
Residential mortgages
   $ 72,883     $ 233,469     $ 15,456     $ 25,264     $ 3,869     $ 350,941     $ 93,626     $ 253,954     $ 3,361     $ 350,941  
Personal loans
     18,753       37,707       5,411       1,171       43,337       106,379       47,790       57,219       1,370       106,379  
Credit cards
     –       –       –       –       17,374       17,374       –       17,374       –       17,374  
Business and government
     142,536       135,474       7,340       405       6,916       292,671       216,334       73,596       2,741       292,671  
Total
   $  234,172     $  406,650     $  28,207     $  26,840     $  71,496     $  767,365     $  357,750     $  402,143     $  7,472     $  767,365  
Allowance for credit losses
     –       –       –       –       (6,536 )      (6,536 )      –       –       (6,536 )      (6,536 ) 
Total loans net of allowance for credit losses
   $ 234,172     $ 406,650     $ 28,207     $ 26,840     $ 64,960     $ 760,829     $ 357,750     $ 402,143     $ 936     $ 760,829  
Schedule of Impaired Loans
(d)
Impaired loans
(1)
 
   
2025
    
2024
  
As at October 31 ($ millions)  
Gross
impaired
loans
(1)
    
Allowance
for credit
losses
    
Net
    
Gross
impaired
loans
(1)
    
Allowance
for credit
losses
    
Net
  
Residential mortgages
  
$
2,903
 
  
$
840
 
  
$
2,063
 
   $ 2,372     $ 645     $ 1,727  
Personal loans
  
 
1,071
 
  
 
604
 
  
 
467
 
     1,117       621       496  
Credit cards
  
 
–
 
  
 
–
 
  
 
–
 
     –       –       –  
Business and government
  
 
3,270
 
  
 
897
 
  
 
2,373
 
     3,250       788       2,462  
Total
  
$
 7,244
 
  
$
 2,341
 
  
$
 4,903
 
   $ 6,739     $ 2,054     $ 4,685  
By geography:
            
Canada
  
$
2,416
 
  
$
683
 
  
$
1,733
 
   $ 2,158     $ 569     $ 1,589  
United States
  
 
–
 
  
 
–
 
  
 
–
 
     109       22       87  
Mexico
  
 
1,494
 
  
 
535
 
  
 
959
 
     1,343       424       919  
Peru
  
 
823
 
  
 
400
 
  
 
423
 
     715       385       330  
Chile
  
 
1,420
 
  
 
332
 
  
 
1,088
 
     1,249       281       968  
Colombia
  
 
364
 
  
 
132
 
  
 
232
 
     322       109       213  
Other International
  
 
727
 
  
 
259
 
  
 
468
 
     843       264       579  
Total
  
$
7,244
 
  
$
2,341
 
  
$
4,903
 
   $  6,739     $  2,054     $  4,685  
 
(1)
Interest income recognized on impaired loans during the year ended October 31, 2025 was $95 (2024 – $84).
Summary of Key Macroeconomic Variables Used for Allowance for Credit Losses Calculations
The following tables show certain key macroeconomic variables used to calculate the modelled estimate for the allowance for credit losses. Further changes in these variables up to the date of the financial statements are incorporated through expert credit judgment. For the base case, optimistic and pessimistic scenarios, the projections are provided for the next 12 months and for the remaining forecast period, which represents a medium-term view.
 
   
Base Case Scenario
          
Alternative Scenario – Optimistic
          
Alternative Scenario – Pessimistic
          
Alternative Scenario – Very
Pessimistic
  
October 31, 2025  
Next
12 Months
           
Remaining
Forecast Period
           
Next
12 Months
           
Remaining
Forecast Period
           
Next
12 Months
           
Remaining
Forecast Period
           
Next
12 Months
           
Remaining
Forecast Period
  
     
Canada
                              
Real GDP growth, y/y % change
  
 
1.2
 
    
 
2.2
 
    
 
2.4
 
    
 
3.1
 
    
 
-1.1
 
    
 
2.7
 
    
 
-4.4
 
    
 
3.4
 
Consumer price index, y/y %
  
 
1.9
 
    
 
2.2
 
    
 
2.1
 
    
 
2.7
 
    
 
1.4
 
    
 
2.0
 
    
 
5.0
 
    
 
2.4
 
Unemployment rate, average %
  
 
7.0
 
    
 
5.8
 
    
 
6.6
 
    
 
4.7
 
    
 
8.2
 
    
 
6.4
 
    
 
11.2
 
    
 
7.0
 
Bank of Canada overnight rate target, average %
  
 
2.3
 
    
 
2.8
 
    
 
2.8
 
    
 
3.7
 
    
 
2.1
 
    
 
2.4
 
    
 
3.1
 
    
 
3.3
 
HPI – Housing Price Index, y/y % change
  
 
1.9
 
    
 
6.2
 
    
 
2.6
 
    
 
7.7
 
    
 
-2.0
 
    
 
6.7
 
    
 
-5.1
 
    
 
6.2
 
USD/CAD exchange rate, average
  
 
1.32
 
    
 
1.30
 
    
 
1.31
 
    
 
1.29
 
    
 
1.37
 
    
 
1.29
 
    
 
1.45
 
    
 
1.30
 
     
U.S.
                              
Real GDP growth, y/y % change
  
 
1.4
 
    
 
2.3
 
    
 
1.9
 
    
 
3.2
 
    
 
-1.0
 
    
 
3.0
 
    
 
-3.7
 
    
 
3.5
 
Consumer price index, y/y %
  
 
2.6
 
    
 
2.5
 
    
 
2.7
 
    
 
2.8
 
    
 
2.7
 
    
 
2.4
 
    
 
6.0
 
    
 
2.7
 
Target federal funds rate, upper limit, average %
  
 
3.3
 
    
 
3.0
 
    
 
3.5
 
    
 
3.5
 
    
 
3.2
 
    
 
2.7
 
    
 
3.9
 
    
 
3.6
 
Unemployment rate, average %
  
 
4.5
 
    
 
4.3
 
    
 
4.4
 
    
 
4.0
 
    
 
5.8
 
    
 
4.8
 
    
 
8.1
 
    
 
5.2
 
     
Mexico
                              
Real GDP growth, y/y % change
  
 
-0.2
 
    
 
2.2
 
    
 
0.6
 
    
 
2.9
 
    
 
-2.4
 
    
 
2.6
 
    
 
-5.5
 
    
 
3.3
 
Unemployment rate, average %
  
 
3.3
 
    
 
3.7
 
    
 
3.2
 
    
 
3.1
 
    
 
3.9
 
    
 
3.8
 
    
 
6.1
 
    
 
4.6
 
     
Chile
                              
Real GDP growth, y/y % change
  
 
2.4
 
    
 
2.0
 
    
 
3.5
 
    
 
2.8
 
    
 
0.3
 
    
 
2.6
 
    
 
-3.7
 
    
 
3.5
 
Unemployment rate, average %
  
 
7.9
 
    
 
6.7
 
    
 
7.7
 
    
 
6.4
 
    
 
9.0
 
    
 
6.9
 
    
 
11.2
 
    
 
7.3
 
     
Peru
                              
Real GDP growth, y/y % change
  
 
2.9
 
    
 
3.1
 
    
 
4.1
 
    
 
4.0
 
    
 
0.6
 
    
 
3.6
 
    
 
-1.0
 
    
 
4.1
 
Unemployment rate, average %
  
 
5.7
 
    
 
6.1
 
    
 
5.3
 
    
 
5.2
 
    
 
6.7
 
    
 
6.5
 
    
 
10.5
 
    
 
7.6
 
     
Colombia
                              
Real GDP growth, y/y % change
  
 
2.9
 
    
 
2.5
 
    
 
4.0
 
    
 
3.4
 
    
 
0.7
 
    
 
3.0
 
    
 
-1.0
 
    
 
3.5
 
Unemployment rate, average %
  
 
10.3
 
    
 
9.9
 
    
 
10.0
 
    
 
9.1
 
    
 
12.0
 
    
 
10.5
 
    
 
18.9
 
    
 
12.5
 
     
Caribbean
                              
Real GDP growth, y/y % change
  
 
3.7
 
    
 
4.0
 
    
 
4.4
 
    
 
4.7
 
    
 
1.6
 
    
 
4.4
 
    
 
-0.6
 
    
 
4.9
 
     
Global
                              
WTI oil price, average USD/bbl
  
 
60
 
    
 
66
 
    
 
64
 
    
 
78
 
    
 
53
 
    
 
61
 
    
 
45
 
    
 
56
 
Copper price, average USD/lb
  
 
4.19
 
    
 
4.68
 
    
 
4.29
 
    
 
5.03
 
    
 
3.92
 
    
 
4.60
 
    
 
3.61
 
    
 
4.47
 
Global GDP, y/y % change
  
 
2.2
 
  
 
 
 
  
 
2.7
 
  
 
 
 
  
 
3.0
 
  
 
 
 
  
 
3.5
 
  
 
 
 
  
 
0.3
 
  
 
 
 
  
 
3.2
 
  
 
 
 
  
 
-2.2
 
  
 
 
 
  
 
3.7
 
 
 
   
Base Case Scenario
          
Alternative Scenario – Optimistic
          
Alternative Scenario – Pessimistic
          
Alternative Scenario – Very
Pessimistic
  
October 31, 2024  
Next
12 Months
           
Remaining
Forecast Period
           
Next
12 Months
           
Remaining
Forecast Period
           
Next
12 Months
           
Remaining
Forecast Period
           
Next
12 Months
           
Remaining
Forecast Period
  
     
Canada
                        
 
      
Real GDP growth, y/y % change
     1.8         2.2         2.8         3.1         -1.6         2.9    
 
     -4.4         3.4  
Consumer price index, y/y %
     2.2         2.0         2.4         2.5         1.6         1.7    
 
     5.8         2.2  
Unemployment rate, average %
     6.7         6.0         6.3         5.0         8.4         6.9    
 
     11.1         7.3  
Bank of Canada overnight rate target, average %
     3.3         2.6         3.5         3.6         2.9         2.0    
 
     4.0         3.2  
HPI – Housing Price Index, y/y % change
     1.6         4.2         2.4         5.5         -3.7         4.8    
 
     -5.8         4.1  
USD/CAD exchange rate, average
     1.34         1.30         1.33         1.28         1.43         1.28    
 
     1.49         1.30  
     
U.S.
                        
 
      
Real GDP growth, y/y % change
     1.6         2.2         2.3         3.1         -1.6         3.0    
 
     -4.0         3.4  
Consumer price index, y/y %
     2.4         2.3         2.6         2.7         1.3         2.0    
 
     6.2         2.5  
Target federal funds rate, upper limit, average %
     4.1         2.9         4.1         3.4         3.6         1.8    
 
     4.8         3.4  
Unemployment rate, average %
     4.3         4.3         4.2         3.9         6.0         4.9    
 
     8.1         5.2  
     
Mexico
                        
 
      
Real GDP growth, y/y % change
     1.3         2.1         2.6         2.9         -0.8         2.6    
 
     -2.9         3.2  
Unemployment rate, average %
     3.3         3.9         3.0         3.1         4.1         4.0    
 
     6.3         4.9  
     
Chile
                        
 
      
Real GDP growth, y/y % change
     3.0         2.2         4.6         3.2         0.1         3.0    
 
     -3.6         3.8  
Unemployment rate, average %
     7.9         6.7         7.6         6.0         9.5         7.0    
 
     11.5         7.4  
     
Peru
                        
 
      
Real GDP growth, y/y % change
     2.6         3.4         3.6         4.5         1.5         3.7    
 
     -0.5         4.3  
Unemployment rate, average %
     6.7         6.2         6.2         5.2         8.1         6.5    
 
     11.8         8.0  
     
Colombia
                        
 
      
Real GDP growth, y/y % change
     2.6         2.7         3.7         3.8         1.4         3.1    
 
     -0.5         3.6  
Unemployment rate, average %
     11.1         10.1         10.7         9.1         13.5         10.6    
 
     19.8         13.0  
     
Caribbean
                        
 
      
Real GDP growth, y/y % change
     3.6         3.8         4.2         4.5         2.5         4.2    
 
     0.6         4.7  
     
Global
                        
 
      
WTI oil price, average USD/bbl
     73         69         78         83         60         60    
 
     53         58  
Copper price, average USD/lb
     4.99         5.29         5.16         5.86         4.50         5.13    
 
     4.32         5.02  
Global GDP, y/y % change
     3.4    
 
 
 
     2.4    
 
 
 
     4.3    
 
 
 
     3.3    
 
 
 
     0.6    
 
 
 
     3.1    
 
 
 
     -1.5    
 
 
 
     3.5  
Schedule of Allowance for Credit Losses
(iv)
Allowance for credit losses
 
($ millions)  
Balance as at
November 1,
2024
    
Provision for
credit losses
(1)
    
Net write-offs
    
Other, including
foreign
currency
adjustment
    
Balance as at
October 31,
2025
  
Residential mortgages
  
$
1,208
 
  
$
304
 
  
$
(110
) 
  
$
58
 
  
$
1,460
 
Personal loans
  
 
2,319
 
  
 
1,951
 
  
 
(1,814
) 
  
 
 (24
) 
  
 
2,432
 
Credit cards
  
 
1,160
 
  
 
1,399
 
  
 
(1,242
) 
  
 
38
 
  
 
1,355
 
Business and government
  
 
2,036
 
  
 
1,072
 
  
 
(642
) 
  
 
(74
) 
  
 
2,392
 
 
$
 6,723
 
  
$
 4,726
 
  
$
 (3,808
) 
  
$
(2
) 
  
$
 7,639
 
Presented as:
          
Allowance for credit losses on loans
  
$
6,536
 
        
$
7,463
 
Allowance for credit losses on acceptances
(2)
  
 
1
 
        
 
1
 
Allowance for credit losses on
off-balance
sheet exposures
(3)
  
 
186
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
175
 
 
(1)
Excludes amounts associated with other assets of $(12). The provision for credit losses, net of these amounts, is $4,714.
(2)
Allowance for credit losses on acceptances is recorded against the financial asset in the Consolidated Statement of Financial Position.
(3)
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
November 1,
2023
    
Provision for
credit losses
(1)
    
Net write-offs
    
Other, including
foreign
currency
adjustment
    
Balance as at
October 31,
2024
  
Residential mortgages
   $ 1,084     $ 257     $ (76 )    $ (57 )    $ 1,208  
Personal loans
     2,414       1,893       (1,857 )      (131 )      2,319  
Credit cards
     1,237       1,122       (1,166 )      (33 )      1,160  
Business and government
     1,876       790       (424 )      (206 )      2,036  
  $  6,611     $  4,062     $  (3,523 )    $  (427 )    $  6,723  
Presented as:
          
Allowance for credit losses on loans
   $ 6,372           $ 6,536  
Allowance for credit losses on acceptances
(2)
     90             1  
Allowance for credit losses on
off-balance
sheet exposures
(3)
     149    
 
 
 
  
 
 
 
  
 
 
 
     186  
 
(1)
Excludes amounts associated with other assets and reversal of impairment losses of $(11). The provision for credit losses, net of these amounts, is $4,051.
(2)
Allowance for credit losses on acceptances is recorded against the financial asset in the Consolidated Statement of Financial Position.
(3)
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 October 31, 2025 ($ millions)  
Stage 1
    
Stage 2
    
Stage 3
    
Total
  
Residential mortgages
  
$
196
 
  
$
424
 
  
$
840
 
  
$
1,460
 
Personal loans
  
 
613
 
  
 
1,215
 
  
 
604
 
  
 
2,432
 
Credit cards
  
 
338
 
  
 
1,017
 
  
 
–
 
  
 
1,355
 
Business and government
  
 
713
 
  
 
606
 
  
 
897
 
  
 
2,216
 
Total
(1)
  
$
 1,860
 
  
$
 3,262
 
  
$
 2,341
 
  
$
 7,463
 
 
(1)
Excludes allowance for credit losses for other financial assets including acceptances, investment securities, deposits with banks,
off-balance
sheet credit risks and reverse repos which amounted to $191.
 
As at October 31, 2024 ($ millions)  
Stage 1
    
Stage 2
    
Stage 3
    
Total
  
Residential mortgages
   $ 165     $ 398     $ 645     $ 1,208  
Personal loans
     544       1,154       621       2,319  
Credit cards
     288       872       –       1,160  
Business and government
     586       475       788       1,849  
Total
(1)
   $  1,583     $  2,899     $  2,054     $  6,536  
 
(1)
Excludes allowance for credit losses for other financial assets including acceptances, investment securities, deposits with banks,
off-balance
sheet credit risks and reverse repos which amounted to $200.
 
 
The following table presents the changes to the allowance for credit losses on loans.
 
   
As at October 31, 2025
    
As at October 31, 2024
  
($ millions)  
Stage 1
    
Stage 2
    
Stage 3
    
Total
    
Stage 1
    
Stage 2
    
Stage 3
    
Total
  
Residential mortgages
                
Balance at beginning of the year
  
$
165
 
  
$
398
 
  
$
645
 
  
$
1,208
 
   $ 265     $ 321     $ 498     $ 1,084  
Provision for credit losses
                
Remeasurement
(1)
  
 
(235
) 
  
 
117
 
  
 
423
 
  
 
305
 
     (271 )      164       373       266  
Newly originated or purchased financial assets
  
 
47
 
  
 
–
 
  
 
–
 
  
 
47
 
     41       –       –       41  
Derecognition of financial assets and maturities
  
 
(8
) 
  
 
(33
)
  
 
–
 
  
 
(41
) 
     (9 )      (22 )      –       (31 ) 
Changes in models and methodologies
(7)
  
 
(2
) 
  
 
(14
) 
  
 
9
 
  
 
(7
) 
     (22 )      3       –       (19 ) 
Transfer to (from):
                
Stage 1
  
 
268
 
  
 
(216
) 
  
 
(52
) 
  
 
–
 
     215       (165 )      (50 )      –  
Stage 2
  
 
(44
) 
  
 
258
 
  
 
(214
) 
  
 
–
 
     (40 )      197       (157 )      –  
Stage 3
  
 
–
 
  
 
(101
)
  
 
101
 
  
 
–
 
     –       (84 )      84       –  
Gross write-offs  
 
–
 
  
 
–
 
  
 
(135
) 
  
 
(135
) 
     –       –       (100 )      (100 ) 
Recoveries  
 
–
 
  
 
–
 
  
 
25
 
  
 
25
 
     –       –       24       24  
Foreign exchange and other movements
(6)
  
 
5
 
  
 
15
 
  
 
38
 
  
 
58
 
     (14 )      (16 )      (27 )      (57 ) 
Balance at end of year
(2)
  
$
196
 
  
$
424
 
  
$
840
 
  
$
1,460
 
   $ 165     $ 398     $ 645     $ 1,208  
Personal loans
                
Balance at beginning of the year
  
$
544
 
  
$
1,154
 
  
$
621
 
  
$
2,319
 
   $ 647     $ 1,103     $ 664     $ 2,414  
Provision for credit losses
                
Remeasurement
(1)
  
 
(620
) 
  
 
997
 
  
 
1,445
 
  
 
1,822
 
     (686 )      976       1,497       1,787  
Newly originated or purchased financial assets
  
 
390
 
  
 
–
 
  
 
–
 
  
 
390
 
     365       –       –       365  
Derecognition of financial assets and maturities
  
 
(92
) 
  
 
(144
)
  
 
–
 
  
 
(236
) 
     (97 )      (190 )      –       (287 ) 
Changes in models and methodologies
(7)
  
 
3
 
  
 
(33
) 
  
 
5
 
  
 
(25
) 
     (68 )      96       –       28  
Transfer to (from):
                
Stage 1
  
 
620
 
  
 
(604
) 
  
 
(16
) 
  
 
–
 
     658       (642 )      (16 )      –  
Stage 2
  
 
(207
) 
  
 
326
 
  
 
(119
) 
  
 
–
 
     (231 )      344       (113 )      –  
Stage 3
  
 
(8
) 
  
 
(473
) 
  
 
481
 
  
 
–
 
     (13 )      (504 )      517       –  
Gross write-offs  
 
–
 
  
 
–
 
  
 
(2,127
) 
  
 
(2,127
) 
     –       –       (2,145 )      (2,145 ) 
Recoveries  
 
–
 
  
 
–
 
  
 
313
 
  
 
313
 
     –       –       288       288  
Foreign exchange and other movements
(6)
  
 
(17
) 
  
 
(8
) 
  
 
1
 
  
 
(24
) 
     (31 )      (29 )      (71 )      (131 ) 
Balance at end of year
(2)
  
$
613
 
  
$
1,215
 
  
$
604
 
  
$
2,432
 
   $ 544     $ 1,154     $ 621     $ 2,319  
Credit cards
                
Balance at beginning of the year
  
$
288
 
  
$
872
 
  
$
–
 
  
$
1,160
 
   $ 414     $ 823     $ –     $ 1,237  
Provision for credit losses
                
Remeasurement
(1)
  
 
(319
) 
  
 
820
 
  
 
853
 
  
 
1,354
 
     (361 )      643       835       1,117  
Newly originated or purchased financial assets
  
 
139
 
  
 
–
 
  
 
–
 
  
 
139
 
     136       –       –       136  
Derecognition of financial assets and maturities
  
 
(43
) 
  
 
(41
) 
  
 
–
 
  
 
(84
) 
     (53 )      (61 )      –       (114 ) 
Changes in models and methodologies
(7)
  
 
–
 
  
 
(10
) 
  
 
–
 
  
 
(10
) 
     (38 )      21       –       (17 ) 
Transfer to (from):
                
Stage 1
  
 
390
 
  
 
(390
) 
  
 
–
 
  
 
–
 
     335       (335 )      –       –  
Stage 2
  
 
(128
) 
  
 
128
 
  
 
–
 
  
 
–
 
     (135 )      135       –       –  
Stage 3
  
 
–
 
  
 
(380
)
  
 
380
 
  
 
–
 
     –       (330 )      330       –  
Gross write-offs
  
 
–
 
  
 
–
 
  
 
(1,466
) 
  
 
(1,466
) 
     –       –       (1,356 )      (1,356 ) 
Recoveries
  
 
–
 
  
 
–
 
  
 
224
 
  
 
224
 
     –       –       190       190  
Foreign exchange and other movements
(6)
  
 
11
 
  
 
18
 
  
 
9
 
  
 
38
 
     (10 )      (24 )      1       (33 ) 
Balance at end of year
(2)
  
$
338
 
  
$
1,017
 
  
$
–
 
  
$
1,355
 
   $ 288     $ 872     $ –     $ 1,160  
Total retail loans
                
Balance at beginning of the year
  
$
997
 
  
$
2,424
 
  
$
1,266
 
  
$
4,687
 
   $ 1,326     $ 2,247     $ 1,162     $ 4,735  
Provision for credit losses
                
Remeasurement
(1)
  
 
(1,174
) 
  
 
1,934
 
  
 
2,721
 
  
 
3,481
 
     (1,318 )      1,783       2,705       3,170  
Newly originated or purchased financial assets
  
 
576
 
  
 
–
 
  
 
–
 
  
 
576
 
     542       –       –       542  
Derecognition of financial assets and maturities
  
 
(143
) 
  
 
(218
)
  
 
–
 
  
 
(361
) 
     (159 )      (273 )      –       (432 ) 
Changes in models and methodologies
(7)
  
 
1
 
  
 
(57
) 
  
 
14
 
  
 
(42
) 
     (128 )      120       –       (8 ) 
Transfer to (from):
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
     –       –       –       –  
Stage 1
  
 
1,278
 
  
 
(1,210
) 
  
 
(68
) 
  
 
–
 
     1,208       (1,142 )      (66 )      –  
Stage 2
  
 
(379
) 
  
 
712
 
  
 
(333
) 
  
 
–
 
     (406 )      676       (270 )      –  
Stage 3
  
 
(8
) 
  
 
(954
) 
  
 
962
 
  
 
–
 
     (13 )      (918 )      931       –  
Gross write-offs
  
 
–
 
  
 
–
 
  
 
(3,728
) 
  
 
(3,728
) 
     –       –       (3,601 )      (3,601 ) 
Recoveries
  
 
–
 
  
 
–
 
  
 
562
 
  
 
562
 
     –       –       502       502  
Foreign exchange and other movements
(6)
  
 
(1
) 
  
 
25
 
  
 
48
 
  
 
72
 
     (55 )      (69 )      (97 )      (221 ) 
Balance at end of year
(2)
  
$
1,147
 
  
$
2,656
 
  
$
1,444
 
  
$
5,247
 
   $ 997     $ 2,424     $ 1,266     $ 4,687  
Business and government
                
Balance at beginning of the year
  
$
739
 
  
$
508
 
  
$
788
 
  
$
2,035
 
   $ 635     $ 403     $ 748     $ 1,786  
Provision for credit losses
                
Remeasurement
(1)
  
 
(66
) 
  
 
335
 
  
 
853
 
  
 
1,122
 
     (210 )      288       622       700  
Newly originated or purchased financial assets
  
 
1,311
 
  
 
–
 
  
 
–
 
  
 
1,311
 
     936       –       –       936  
Derecognition of financial assets and maturities
  
 
(1,170
) 
  
 
(145
) 
  
 
(47
) 
  
 
(1,362
) 
     (860 )      (126 )      (9 )      (995 ) 
Changes in models and methodologies
(7)
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
     200       37       –       237  
Transfer to (from):
                
Stage 1
  
 
120
 
  
 
(120
) 
  
 
–
 
  
 
–
 
     154       (154 )      –       –  
Stage 2
  
 
(89
) 
  
 
94
 
  
 
(5
)
  
 
–
 
     (110 )      114       (4 )      –  
Stage 3
  
 
(3
) 
  
 
(33
) 
  
 
36
 
  
 
–
 
     –       (21 )      21       –  
Gross write-offs
  
 
–
 
  
 
–
 
  
 
(700
) 
  
 
(700
) 
     –       –       (484 )      (484 ) 
Recoveries
  
 
–
 
  
 
–
 
  
 
58
 
  
 
58
 
     –       –       60       60  
Foreign exchange and other movements
  
 
12
 
  
 
1
 
  
 
(86
) 
  
 
(73
) 
     (6 )      (33 )      (166 )      (205 ) 
Balance at end of period including
off-balance
sheet exposures
(2)
  
$
854
 
  
$
640
 
  
$
897
 
  
$
2,391
 
   $ 739     $ 508     $ 788     $ 2,035  
Less: Allowance for credits losses on
off-balance
sheet exposures
(2)(3)
  
 
(141
) 
  
 
(34
) 
  
 
–
 
  
 
(175
) 
     (153 )      (33 )      –       (186 ) 
Balance at end of year
(2)
  
$
713
 
  
$
606
 
  
$
897
 
  
$
2,216
 
   $ 586     $ 475     $ 788     $ 1,849  
 
(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 loans, credit cards, and business and government loans totaled $439 (2024 – $443).
(3)
Allowance for credit losses on
off-balance
sheet exposures is recorded in other liabilities in the Consolidated Statement of Financial Position.
(4)
Allowance for credit losses on acceptances are recorded against the financial asset in the Consolidated Statement of Financial Position.
(5)
During the year ended October 31, 2025, the contractual terms of certain financial assets were modified where the modification did not result in derecognition. The carrying value of such loans that were modified in Stage 2 and Stage 3 was $2,833 (2024 – $3,504) and $899 (2024 – $
726)
respectively, before the modification.
(6)
Divestitures are included in the foreign exchange and other movements.
(7)
Comprises changes due to enhanced IFRS 9 models, including changes to reflect previously established expert credit judgment overlays that are now incorporated in the model.
Summary of Carrying Value of Exposures by Risk Rating
(f)
Carrying value of exposures by risk rating
 
Residential mortgages
  
As at October 31, 2025
    
As at October 31, 2024
  
Category of PD grades ($ millions)  
Stage 1
    
Stage 2
    
Stage 3
(1)
    
Total
    
Stage 1
    
Stage 2
    
Stage 3
(1)
    
Total
  
Very low
  
$
219,905
 
  
$
3,983
 
  
$
–
 
  
$
223,888
 
   $  211,165     $ 3,262     $ –     $  214,427  
Low
  
 
83,755
 
  
 
4,820
 
  
 
–
 
  
 
88,575
 
     78,344       3,625       –       81,969  
Medium
  
 
15,870
 
  
 
8,618
 
  
 
–
 
  
 
24,488
 
     19,205       2,072       –       21,277  
High
  
 
3,002
 
  
 
6,007
 
  
 
–
 
  
 
9,009
 
     2,561       5,280       –       7,841  
Very high
  
 
48
 
  
 
3,170
 
  
 
–
 
  
 
3,218
 
     13       2,814       –       2,827  
Loans not graded
(2)
  
 
16,937
 
  
 
1,173
 
  
 
–
 
  
 
18,110
 
     18,614       1,614       –       20,228  
Default
  
 
–
 
  
 
–
 
  
 
2,903
 
  
 
2,903
 
     –       –       2,372       2,372  
Total
  
 
339,517
 
  
 
27,771
 
  
 
2,903
 
  
 
370,191
 
     329,902        18,667        2,372       350,941  
Allowance for credit losses
  
 
196
 
  
 
424
 
  
 
840
 
  
 
1,460
 
     165       398       645       1,208  
Carrying value
  
$
 339,321
 
  
$
 27,347
 
  
$
 2,063
 
  
$
 368,731
 
   $ 329,737     $ 18,269     $ 1,727     $ 349,733  
 
(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 October 31, 2025
    
As at October 31, 2024
  
Category of PD grades ($ millions)  
Stage 1
    
Stage 2
    
Stage 3
(1)
    
Total
    
Stage 1
    
Stage 2
    
Stage 3
(1)
    
Total
  
Very low
  
$
31,009
 
  
$
202
 
  
$
–
 
  
$
31,211
 
   $   30,865     $ –     $ –     $ 30,865  
Low
  
 
21,075
 
  
 
751
 
  
 
–
 
  
 
21,826
 
     20,686       12       –       20,698  
Medium
  
 
12,886
 
  
 
78
 
  
 
–
 
  
 
12,964
 
     13,053       38       –       13,091  
High
  
 
10,331
 
  
 
5,659
 
  
 
–
 
  
 
15,990
 
     10,535       4,843       –       15,378  
Very high
  
 
35
 
  
 
2,651
 
  
 
–
 
  
 
2,686
 
     76       2,743       –       2,819  
Loans not graded
(2)
  
 
22,465
 
  
 
2,354
 
  
 
–
 
  
 
24,819
 
     20,482       1,929       –       22,411  
Default
  
 
–
 
  
 
–
 
  
 
1,071
 
  
 
1,071
 
     –       –       1,117       1,117  
Total
  
 
97,801
 
  
 
11,695
 
  
 
 1,071
 
  
 
110,567
 
     95,697       9,565        1,117       106,379  
Allowance for credit losses
  
 
613
 
  
 
1,215
 
  
 
604
 
  
 
2,432
 
     544       1,154       621       2,319  
Carrying value
  
$
  97,188
 
  
$
 10,480
 
  
$
467
 
  
$
 108,135
 
   $ 95,153     $   8,411     $ 496     $  104,060  
 
(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 October 31, 2025
    
As at October 31, 2024
  
Category of PD grades ($ millions)  
Stage 1
    
Stage 2
    
Stage 3
    
Total
    
Stage 1
    
Stage 2
    
Stage 3
    
Total
  
Very low
  
$
2,646
 
  
$
2
 
  
$
     –
 
  
$
2,648
 
   $ 2,382     $ 3     $ –     $ 2,385  
Low
  
 
3,171
 
  
 
11
 
  
 
–
 
  
 
3,182
 
     2,872       25       –       2,897  
Medium
  
 
4,792
 
  
 
26
 
  
 
–
 
  
 
4,818
 
     4,631       55       –       4,686  
High
  
 
3,210
 
  
 
1,942
 
  
 
–
 
  
 
5,152
 
     3,069       1,880       –       4,949  
Very high
  
 
20
 
  
 
1,204
 
  
 
–
 
  
 
1,224
 
     16       1,028       –       1,044  
Loans not graded
(1)
  
 
582
 
  
 
439
 
  
 
–
 
  
 
1,021
 
     895       518       –       1,413  
Default
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
     –       –       –       –  
Total
  
 
14,421
 
  
 
3,624
 
  
 
–
 
  
 
18,045
 
       13,865       3,509       –         17,374  
Allowance for credit losses
  
 
338
 
  
 
1,017
 
  
 
–
 
  
 
1,355
 
     288       872       –       1,160  
Carrying value
  
$
  14,083
 
  
$
  2,607
 
  
$
–
 
  
$
  16,690
 
   $ 13,577     $   2,637     $      –     $ 16,214  
 
(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 October 31, 2025
    
As at October 31, 2024
  
Category of PD grades ($ millions)  
Stage 1
    
Stage 2
    
Stage 3
    
Total
    
Stage 1
    
Stage 2
    
Stage 3
    
Total
  
Very low
  
$
126,681
 
  
$
255
 
  
$
     –
 
  
$
126,936
 
   $  115,396     $ 2     $ –     $ 115,398  
Low
  
 
22,102
 
  
 
71
 
  
 
–
 
  
 
22,173
 
     17,947       26       –       17,973  
Medium
  
 
9,569
 
  
 
13
 
  
 
–
 
  
 
9,582
 
     8,128       22       –       8,150  
High
  
 
4,047
 
  
 
631
 
  
 
–
 
  
 
4,678
 
     3,490       505       –       3,995  
Very high
  
 
14
 
  
 
351
 
  
 
–
 
  
 
365
 
     10       305       –       315  
Loans not graded
(1)
  
 
9,039
 
  
 
2,049
 
  
 
–
 
  
 
11,088
 
     12,634       2,749       –       15,383  
Default
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
     –       –       –       –  
Carrying value
  
$
 171,452
 
  
$
  3,370
 
  
$
–
 
  
$
 174,822
 
   $ 157,605     $   3,609     $      –     $  161,214  
 
(1)
Portfolios where the customer account level ‘Probability of Default’ has not been determined have been included in the ‘Loans not graded’ category.
 
Total retail loans
  
As at October 31, 2025
    
As at October 31, 2024
  
Category of PD grades ($ millions)  
Stage 1
    
Stage 2
    
Stage 3
(1)
    
Total
    
Stage 1
    
Stage 2
    
Stage 3
(1)
    
Total
  
Very low
  
$
380,241
 
  
$
4,442
 
  
$
–
 
  
$
384,683
 
   $  359,808     $ 3,267     $ –     $ 363,075  
Low
  
 
130,103
 
  
 
5,653
 
  
 
–
 
  
 
135,756
 
     119,849       3,688       –       123,537  
Medium
  
 
43,117
 
  
 
8,735
 
  
 
–
 
  
 
51,852
 
     45,017       2,187       –       47,204  
High
  
 
20,590
 
  
 
14,239
 
  
 
–
 
  
 
34,829
 
     19,655       12,508       –       32,163  
Very high
  
 
117
 
  
 
7,376
 
  
 
–
 
  
 
7,493
 
     115       6,890       –       7,005  
Loans not graded
(2)
  
 
49,023
 
  
 
6,015
 
  
 
–
 
  
 
55,038
 
     52,625       6,810       –       59,435  
Default
  
 
–
 
  
 
–
 
  
 
3,974
 
  
 
3,974
 
     –       –       3,489       3,489  
Total
  
 
623,191
 
  
 
46,460
 
  
 
3,974
 
  
 
673,625
 
     597,069        35,350       3,489       635,908  
Allowance for credit losses
  
 
1,147
 
  
 
2,656
 
  
 
1,444
 
  
 
5,247
 
     997       2,424       1,266       4,687  
Carrying value
  
$
 622,044
 
  
$
 43,804
 
  
$
 2,530
 
  
$
 668,378
 
   $ 596,072     $ 32,926     $  2,223     $  631,221  
 
(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.
 
Business and government loans
  
As at October 31, 2025
    
As at October 31, 2024
  
Category of PD grades ($ millions)  
Stage 1
    
Stage 2
    
Stage 3
(1)
    
Total
    
Stage 1
    
Stage 2
    
Stage 3
(1)
    
Total
  
Investment grade
  
$
138,789
 
  
$
1,482
 
  
$
–
 
  
$
140,271
 
   $  146,999     $ 1,829     $ –     $ 148,828  
Non-Investment
grade
  
 
121,999
 
  
 
7,169
 
  
 
–
 
  
 
129,168
 
     124,749       8,800       –       133,549  
Watch list
  
 
7
 
  
 
4,468
 
  
 
–
 
  
 
4,475
 
     10       4,819       –       4,829  
Loans not graded
(2)
  
 
2,485
 
  
 
36
 
  
 
–
 
  
 
2,521
 
     2,190       25       –       2,215  
Default
  
 
–
 
  
 
–
 
  
 
3,270
 
  
 
3,270
 
     –       –       3,250       3,250  
Total
  
 
263,280
 
  
 
13,155
 
  
 
3,270
 
  
 
279,705
 
     273,948        15,473       3,250       292,671  
Allowance for credit losses
  
 
713
 
  
 
606
 
  
 
897
 
  
 
2,216
 
     586       475       788       1,849  
Carrying value
  
$
 262,567
 
  
$
 12,549
 
  
$
 2,373
 
  
$
 277,489
 
   $ 273,362     $ 14,998     $  2,462     $  290,822  
 
(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 –
Business and government
  
As at October 31, 2025
    
As at October 31, 2024
  
Category of PD grades ($ millions)  
Stage 1
    
Stage 2
    
Stage 3
(1)
    
Total
    
Stage 1
    
Stage 2
    
Stage 3
(1)
    
Total
  
Investment grade
  
$
242,637
 
  
$
1,101
 
  
$
–
 
  
$
243,738
 
   $  243,635     $   1,124     $ –     $ 244,759  
Non-investment
grade
  
 
60,136
 
  
 
1,841
 
  
 
–
 
  
 
61,977
 
     59,572       2,894       –       62,466  
Watch list
  
 
–
 
  
 
1,007
 
  
 
–
 
  
 
1,007
 
     –       1,142       –       1,142  
Loans not graded
(2)
  
 
4,593
 
  
 
1
 
  
 
–
 
  
 
4,594
 
     3,921       –       –       3,921  
Default
  
 
–
 
  
 
–
 
  
 
31
 
  
 
31
 
     –       –       32       32  
Total
  
 
307,366
 
  
 
3,950
 
  
 
31
 
  
 
311,347
 
     307,128       5,160       32       312,320  
Allowance for credit losses
  
 
141
 
  
 
34
 
  
 
–
 
  
 
175
 
     153       33       –       186  
Carrying value
  
$
 307,225
 
  
$
 3,916
 
  
$
 31
 
  
$
 311,172
 
   $ 306,975     $ 5,127     $     32     $  312,134  
 
(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.
 
Total
non-retail
loans
  
As at October 31, 2025
    
As at October 31, 2024
  
Category of PD grades ($ millions)  
Stage 1
    
Stage 2
    
Stage 3
(1)
    
Total
    
Stage 1
    
Stage 2
    
Stage 3
(1)
    
Total
  
Investment grade
  
$
381,426
 
  
$
2,583
 
  
$
–
 
  
$
384,009
 
   $  390,634     $ 2,953     $ –     $ 393,587  
Non-investment
grade
  
 
182,135
 
  
 
9,010
 
  
 
–
 
  
 
191,145
 
     184,321       11,694       –       196,015  
Watch list
  
 
7
 
  
 
5,475
 
  
 
–
 
  
 
5,482
 
     10       5,961       –       5,971  
Loans not graded
(2)
  
 
7,078
 
  
 
37
 
  
 
–
 
  
 
7,115
 
     6,111       25       –       6,136  
Default
  
 
–
 
  
 
–
 
  
 
3,301
 
  
 
3,301
 
     –       –       3,282       3,282  
Total
  
 
570,646
 
  
 
17,105
 
  
 
3,301
 
  
 
591,052
 
     581,076        20,633       3,282       604,991  
Allowance for credit losses
  
 
854
 
  
 
640
 
  
 
897
 
  
 
2,391
 
     739       508       788       2,035  
Carrying value
  
$
 569,792
 
  
$
 16,465
 
  
$
 2,404
 
  
$
 588,661
 
   $ 580,337     $ 20,125     $  2,494     $  602,956  
 
(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
(g)
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. In cases where borrowers have opted to participate in payment deferral programs, deferral of payments is not considered past due and such loans are not aged further during the deferral period.
 
   
2025
(2)
    
2024
(2)
  
As at October 31 ($ millions)  
31 - 60
days
    
61 - 90
days
    
91 days
and
greater
(3)
    
Total
    
31 - 60
days
    
61 - 90
days
    
91 days
and
greater
(3)
    
Total
  
Residential mortgages
  
$
1,603
 
  
$
767
 
  
$
–
 
  
$
2,370
 
   $  1,418     $ 718     $ –     $ 2,136  
Personal loans
  
 
691
 
  
 
353
 
  
 
–
 
  
 
1,044
 
     647       343       –       990  
Credit cards
  
 
289
 
  
 
189
 
  
 
430
 
  
 
908
 
     242       172       398       812  
Business and government
  
 
238
 
  
 
104
 
  
 
–
 
  
 
342
 
     192       48       –       240  
Total
  
$
 2,821
 
  
$
 1,413
 
  
$
 430
 
  
$
 4,664
 
   $ 2,499     $  1,281     $  398     $  4,178  
 
(1)
Loans past due 30 days or less are not presented in this analysis as they are not administratively considered past due.
(2)
For loans where payment deferrals were granted, deferred payments are not considered past due and such loans are not aged further during the deferral period. Regular aging of the loans resumes, after the end of the deferral period.
(3)
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
(h)
Purchased credit-impaired loans
Certain financial assets including loans are credit-impaired on initial recognition either through acquisition or origination. The following table provides details of such assets:
 
As at October 31 ($ millions)  
2025
    
2024
  
Unpaid principal balance
(1)
  
$
    224
 
   $     243  
Credit-related fair value adjustments
  
 
(24
) 
     (29 ) 
Carrying value
  
 
200
 
     214  
Stage 3 allowance
  
 
(1
) 
     (1 ) 
Carrying value net of related allowance
  
$
199
 
   $ 213  
 
(1)
Represents principal amount owed net of write-offs.