v3.26.1
Loans, Impaired Loans and Allowance for Credit Losses (Tables)
 6 Months Ended
Apr. 30, 2026
Text Block [Abstract]  
Disclosure of loans at amortized cost
(a) Loans at amortized cost
 
      As at  
     
April 30, 2026
  
($ millions)
   
Gross
carrying
amount
     
Allowance
for credit
losses
     
Net
carrying
amount
  
Residential mortgages
   
$
  368,495
 
   
$
  1,450
 
   
$
  367,045
 
Personal loans
   
 
108,355
 
   
 
2,254
 
   
 
106,101
 
Credit cards
   
 
16,040
 
   
 
1,166
 
   
 
14,874
 
Business and government
   
 
271,694
 
   
 
2,280
 
   
 
269,414
 
Total
   
$
764,584
 
   
$
7,150
 
   
$
757,434
 
 
      As at  
      January 31, 2026      October 31, 2025  
($ millions)
    Gross
carrying
amount		      Allowance
for credit
losses		      Net
carrying
amount		      Gross
carrying
amount		      Allowance
for credit
losses		      Net
carrying
amount		  
Residential mortgages
    $ 368,619      $ 1,439      $ 367,180      $ 370,191      $ 1,460      $ 368,731  
Personal loans
      107,579        2,216        105,363        110,567        2,432        108,135  
Credit cards
      16,112        1,215        14,897        18,045        1,355        16,690  
Business and government
      270,167        2,132        268,035        279,705        2,216        277,489  
Total
    $  762,477      $  7,002      $  755,475      $  778,508      $  7,463      $  771,045  
Schedule of Impaired Loans
(b) Impaired loans
(1)
 
      As at  
     
April 30, 2026
  
($ millions)
   
Gross
impaired
loans
     
Allowance
for credit
losses
     
Net
carrying
amount
  
Residential mortgages
   
$
2,904
 
   
$
841
 
   
$
2,063
 
Personal loans
   
 
975
 
   
 
566
 
   
 
409
 
Credit cards
   
 
–
 
   
 
–
 
   
 
–
 
Business and government
   
 
3,729
 
   
 
1,001
 
   
 
2,728
 
Total
   
$
7,608
 
   
$
2,408
 
   
$
5,200
 
By geography:
         
Canada
   
$
2,798
 
   
$
796
 
   
$
2,002
 
United States
   
 
124
 
   
 
13
 
   
 
111
 
Mexico
   
 
1,515
 
   
 
570
 
   
 
945
 
Peru
   
 
739
 
   
 
367
 
   
 
372
 
Chile
   
 
1,452
 
   
 
344
 
   
 
1,108
 
Other international
   
 
980
 
   
 
318
 
   
 
662
 
Total
   
$
7,608
 
   
$
2,408
 
   
$
5,200
 
 
      As at  
      January 31, 2026      October 31, 2025  
($ millions)
    Gross
impaired
loans		      Allowance
for credit
losses		      Net
carrying
amount		      Gross
impaired
loans		      Allowance
for credit
losses		      Net
carrying
amount		  
Residential mortgages
    $ 2,955      $ 834      $ 2,121      $ 2,903      $ 840      $ 2,063  
Personal loans
      1,063        570        493        1,071        604        467  
Credit cards
      –        –        –        –        –        –  
Business and government
      3,230        883        2,347        3,270        897        2,373  
Total
    $ 7,248      $ 2,287      $ 4,961      $ 7,244      $ 2,341      $ 4,903  
By geography:
                  
Canada
    $ 2,674      $ 786      $ 1,888      $ 2,416      $ 683      $ 1,733  
United States
      158        17        141        –        –        –  
Mexico
      1,533        554        979        1,494        535        959  
Peru
      778        383        395        823        400        423  
Chile
      1,516        351        1,165        1,420        332        1,088  
Other international
      589        196        393        1,091        391        700  
Total
    $ 7,248      $ 2,287      $ 4,961      $ 7,244      $ 2,341      $ 4,903  
 
  (1)
Interest income recognized on impaired loans during the three months ended April 30, 2026 was $29 (January 31, 2026 – $28; October 31, 2025 – $23).
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 judgement. 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		  
As at April 30, 2026
    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
   
 
1.6
 
  
 
2.0
 
   
 
2.6
 
  
 
2.9
 
   
 
-1.0
 
  
 
2.6
 
   
 
-4.4
 
  
 
3.3
 
Consumer price index, y/y %
   
 
3.1
 
  
 
1.9
 
   
 
3.3
 
  
 
2.4
 
   
 
2.6
 
  
 
1.7
 
   
 
6.5
 
  
 
2.1
 
Unemployment rate, average %
   
 
6.4
 
  
 
5.9
 
   
 
5.9
 
  
 
4.5
 
   
 
7.6
 
  
 
6.5
 
   
 
10.4
 
  
 
7.1
 
Bank of Canada overnight rate target, average %
   
 
2.8
 
  
 
2.9
 
   
 
3.1
 
  
 
3.7
 
   
 
2.1
 
  
 
2.4
 
   
 
3.5
 
  
 
3.5
 
HPI - Housing Price Index, y/y % change
   
 
-1.6
 
  
 
4.7
 
   
 
-0.9
 
  
 
6.2
 
   
 
-5.6
 
  
 
5.3
 
   
 
-8.9
 
  
 
4.8
 
USD/CAD exchange rate, average
   
 
1.34
 
  
 
1.30
 
   
 
1.33
 
  
 
1.28
 
   
 
1.40
 
  
 
1.28
 
   
 
1.48
 
  
 
1.30
 
U.S.
                    
Real GDP growth, y/y % change
   
 
1.6
 
  
 
2.4
 
   
 
2.2
 
  
 
3.3
 
   
 
-1.1
 
  
 
3.1
 
   
 
-3.9
 
  
 
3.6
 
Consumer price index, y/y %
   
 
3.0
 
  
 
2.4
 
   
 
3.2
 
  
 
2.8
 
   
 
3.2
 
  
 
2.3
 
   
 
6.8
 
  
 
2.6
 
Target federal funds rate, upper limit, average %
   
 
3.6
 
  
 
3.4
 
   
 
3.8
 
  
 
4.0
 
   
 
3.5
 
  
 
3.0
 
   
 
4.4
 
  
 
4.1
 
Unemployment rate, average %
   
 
4.3
 
  
 
4.0
 
   
 
4.1
 
  
 
3.6
 
   
 
5.7
 
  
 
4.5
 
   
 
8.1
 
  
 
4.8
 
Mexico
                    
Real GDP growth, y/y % change
   
 
0.9
 
  
 
1.9
 
   
 
1.3
 
  
 
2.6
 
   
 
-1.6
 
  
 
2.4
 
   
 
-4.8
 
  
 
3.1
 
Unemployment rate, average %
   
 
3.5
 
  
 
3.8
 
   
 
3.3
 
  
 
3.3
 
   
 
4.2
 
  
 
3.9
 
   
 
6.5
 
  
 
4.8
 
Chile
                    
Real GDP growth, y/y % change
   
 
2.5
 
  
 
2.1
 
   
 
3.3
 
  
 
3.0
 
   
 
0.1
 
  
 
2.7
 
   
 
-4.0
 
  
 
3.7
 
Unemployment rate, average %
   
 
8.1
 
  
 
7.3
 
   
 
7.9
 
  
 
6.8
 
   
 
9.3
 
  
 
7.5
 
   
 
11.6
 
  
 
8.0
 
Peru
                    
Real GDP growth, y/y % change
   
 
3.3
 
  
 
2.7
 
   
 
4.4
 
  
 
3.5
 
   
 
0.7
 
  
 
3.2
 
   
 
-0.8
 
  
 
3.8
 
Unemployment rate, average %
   
 
5.8
 
  
 
6.0
 
   
 
5.4
 
  
 
5.1
 
   
 
6.9
 
  
 
6.4
 
   
 
10.9
 
  
 
7.5
 
Caribbean
                    
Real GDP growth, y/y % change
   
 
3.7
 
  
 
4.0
 
   
 
4.1
 
  
 
4.7
 
   
 
1.8
 
  
 
4.4
 
   
 
-0.6
 
  
 
4.9
 
Global
                    
WTI oil price, average USD/bbl
   
 
85
 
  
 
69
 
   
 
89
 
  
 
83
 
   
 
74
 
  
 
63
 
   
 
130
 
  
 
74
 
Copper price, average USD/lb
   
 
5.39
 
  
 
5.86
 
   
 
5.51
 
  
 
6.38
 
   
 
4.99
 
  
 
5.74
 
   
 
5.41
 
  
 
5.72
 
Global GDP, y/y % change
   
 
2.4
 
  
 
2.8
 
   
 
3.2
 
  
 
3.7
 
   
 
0.3
 
  
 
3.4
 
   
 
-2.3
 
  
 
3.9
 
 
      Base Case Scenario      Alternative Scenario
Optimistic		      Alternative Scenario
Pessimistic		      Alternative Scenario
Very Pessimistic		  
As at January 31, 2026
    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
      1.5       1.9        2.2       2.8        -1.0       2.4        -4.3       3.1  
Consumer price index, y/y %
      2.2       2.2        2.4       2.6        1.7       2.0        5.4       2.4  
Unemployment rate, average %
      6.4       5.8        6.1       4.6        7.6       6.4        10.4       7.0  
Bank of Canada overnight rate target, average %
      2.4       3.0        2.8       3.7        2.1       2.5        3.3       3.5  
HPI - Housing Price Index, y/y % change
      3.5       5.4        4.3       6.9        -0.5       5.9        -3.9       5.5  
USD/CAD exchange rate, average
      1.35       1.31        1.34       1.30        1.41       1.30        1.50       1.31  
U.S.
                    
Real GDP growth, y/y % change
      1.6       2.3        2.0       3.3        -0.9       3.0        -3.7       3.5  
Consumer price index, y/y %
      2.4       2.6        2.6       2.9        2.6       2.5        6.0       2.8  
Target federal funds rate, upper limit, average %
      3.1       3.3        3.2       3.7        3.0       2.9        3.8       3.9  
Unemployment rate, average %
      4.3       4.1        4.3       3.8        5.7       4.6        7.9       5.0  
Mexico
                    
Real GDP growth, y/y % change
      0.6       2.0        1.1       2.8        -1.7       2.4        -4.8       3.1  
Unemployment rate, average %
      3.3       3.8        3.2       3.2        4.0       3.9        6.1       4.7  
Chile
                    
Real GDP growth, y/y % change
      2.5       2.1        3.6       2.9        0.3       2.6        -3.7       3.5  
Unemployment rate, average %
      7.9       7.4        7.6       6.9        9.0       7.5        11.2       8.0  
Peru
                    
Real GDP growth, y/y % change
      3.2       2.7        4.6       3.6        0.8       3.2        -0.8       3.8  
Unemployment rate, average %
      5.8       5.9        5.1       5.0        6.8       6.3        10.6       7.4  
Caribbean
                    
Real GDP growth, y/y % change
      3.6       4.0        4.2       4.8        1.4       4.4        -1.8       5.1  
Global
                    
WTI oil price, average USD/bbl
      60       61        63       72        52       56        45       51  
Copper price, average USD/lb
      4.75       5.09        4.85       5.49        4.42       5.00        4.08       4.85  
Global GDP, y/y % change
      2.5       2.8        3.2       3.6        0.5       3.3        -2.1       3.8  
 
 
      Base Case Scenario      Alternative Scenario
Optimistic		      Alternative Scenario
Pessimistic		      Alternative Scenario
Very Pessimistic		  
As at 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  
Schedule of Allowance for Credit Losses
  (iv)
Allowance for credit losses

Allowance for credit losses
 
($ millions)
  
Balance as at
November 1,
2025
 
  
Provision
for
credit losses
(1)
 
  
Net write-
offs
 
  
Other, including
foreign currency
adjustment
 
  
Balance as at
April 30,
2026
 
Residential mortgages
    $ 1,460      $
133
      $
(61
) 
    $
(82
) 
   
$
1,450
 
Personal loans
      2,432       
954
       
(841
) 
     
(291
) 
   
 
2,254
 
Credit cards
      1,355       
625
       
(625
) 
     
(189
) 
   
 
1,166
 
Business and government
      2,392       
686
       
(380
) 
     
(242
) 
   
 
2,456
 
     $ 7,639      $  2,398      $  (1,907
) 
    $  (804
) 
   
$
  7,326
 
Presented as:
               
Allowance for credit losses on loans
    $ 7,463              
$
7,150
 
Allowance for credit losses on acceptances
(2)
      1              
 
1
 
Allowance for credit losses on
off-balance
sheet exposures
(3)
         
175
                                
 
175
 
  (1)
Excludes amounts associated with other assets of $(5). The provision for credit losses, net of these amounts, is $
2,393
.
  (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,
2024
     
Provision
for
credit losses
(1)
     
Net write-
offs
     
Other, including
foreign currency
adjustment
     
Balance as at
April 30,
2025
  
Residential mortgages
    $ 1,208      $ 205      $ (40 )     $ 5      $ 1,378  
Personal loans
      2,319        1,080        (930 )       (90 )       2,379  
Credit cards
      1,160        722        (647 )       –        1,235  
Business and government
      2,036        571        (268 )       (71 )       2,268  
     $  6,723      $  2,578      $  (1,885 )     $  (156 )     $  7,260  
Presented as:
               
Allowance for credit losses on loans
    $ 6,536               $ 7,084  
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 and reversal of impairment losses of $(18). The provision for credit losses, net of these amounts, is $2,560.
  (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 April 30, 2026
  
($ millions)
   
Stage 1
     
Stage 2
     
Stage 3
     
Total
  
Residential mortgages
   
$
190
 
   
$
419
 
   
$
841
 
   
$
1,450
 
Personal loans
   
 
558
 
   
 
1,130
 
   
 
566
 
   
 
2,254
 
Credit cards
   
 
250
 
   
 
916
 
   
 
–
 
   
 
1,166
 
Business and government
   
 
704
 
   
 
575
 
   
 
1,001
 
   
 
2,280
 
Total
(1)
   
$
1,702
 
   
$
3,040
 
   
$
2,408
 
   
$
7,150
 
  (1)
Excludes allowance for credit losses of $194 for other financial assets including acceptances, investment securities, deposits with banks,
off-balance
sheet credit risks and reverse repos.
 
      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 of $191 for other financial assets including acceptances, investment securities, deposits with banks,
off-balance
sheet credit risks and reverse repos.
 
      As at April 30, 2025  
($ millions)
    Stage 1      Stage 2      Stage 3      Total  
Residential mortgages
    $ 178      $ 452      $ 748      $ 1,378  
Personal loans
      534        1,228        617        2,379  
Credit cards
      292        943        –        1,235  
Business and government
      667        589        836        2,092  
Total
(1)
    $  1,671      $  3,212      $  2,201      $  7,084  
  (1)
Excludes allowance for credit losses of $192 for other financial assets including acceptances, investment securities, deposits with banks,
off-balance
sheet credit risks and reverse repos.
 
 
The following table presents the changes to the allowance for credit losses on loans.
 
    As at and for the three months ended  
    
April 30, 2026
     April 30, 2025  
($ millions)
  
Stage 1
    
Stage 2
    
Stage 3
    
Total
     Stage 1     Stage 2     Stage 3     Total  
Retail loans:
                
Residential mortgages
                
Balance at beginning of period
  
$
194
 
  
$
411
 
  
$
834
 
  
$
1,439
 
   $ 160     $ 409     $ 711     $ 1,280  
Provision for credit losses
                
Remeasurement
(1)
  
 
(65
)
  
 
45
 
  
 
84
 
  
 
64
 
     (41 )      66       112       137  
Newly originated or purchased financial assets
  
 
10
 
  
 
–
 
  
 
–
 
  
 
10
 
     13       –       –       13  
Derecognition of financial assets and maturities
  
 
(2
)
  
 
(8
)
  
 
–
 
  
 
(10
)
     (2 )      (7 )      –       (9 ) 
Changes in models and methodologies
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
     –       –       –       –  
Transfer to (from):
                
Stage 1
  
 
66
 
  
 
(59
)
  
 
(7
)
  
 
–
 
     63       (49 )      (14 )      –  
Stage 2
  
 
(10
)
  
 
64
 
  
 
(54
)
  
 
–
 
     (13 )      65       (52 )      –  
Stage 3
  
 
–
 
  
 
(24
)
  
 
24
 
  
 
–
 
     –       (24 )      24       –  
Gross write-offs
  
 
–
 
  
 
–
 
  
 
(38
)
  
 
(38
)
     –       –       (28 )      (28 ) 
Recoveries
  
 
–
 
  
 
–
 
  
 
4
 
  
 
4
 
     –       –       4       4  
Foreign exchange and other movements
  
 
(3
)
  
 
(10
)
  
 
(6
)
  
 
(19
)
     (2 )      (8 )      (9 )      (19 ) 
Balance at end of period
  
$
190
 
  
$
419
 
  
$
841
 
  
$
1,450
 
   $ 178     $ 452     $ 748     $ 1,378  
Personal loans
                
Balance at beginning of period
  
$
535
 
  
$
1,111
 
  
$
570
 
  
$
2,216
 
   $ 554     $ 1,225     $ 647     $ 2,426  
Provision for credit losses
                
Remeasurement
(1)
  
 
(144
)
  
 
234
 
  
 
351
 
  
 
441
 
     (166 )      317       371       522  
Newly originated or purchased financial assets
  
 
93
 
  
 
–
 
  
 
–
 
  
 
93
 
     93       –       –       93  
Derecognition of financial assets and maturities
  
 
(22
)
  
 
(26
)
  
 
–
 
  
 
(48
)
     (20 )      (35 )      –       (55 ) 
Changes in models and methodologies
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
     7       (32 )      (3 )      (28 ) 
Transfer to (from):
                
Stage 1
  
 
141
 
  
 
(138
)
  
 
(3
)
  
 
–
 
     161       (157 )      (4 )      –  
Stage 2
  
 
(40
)
  
 
70
 
  
 
(30
)
  
 
–
 
     (48 )      77       (29 )      –  
Stage 3
  
 
(1
)
  
 
(107
)
  
 
108
 
  
 
–
 
     (2 )      (122 )      124       –  
Gross write-offs
  
 
–
 
  
 
–
 
  
 
(495
)
  
 
(495
)
     –       –       (517 )      (517 ) 
Recoveries
  
 
–
 
  
 
–
 
  
 
73
 
  
 
73
 
     –       –       72       72  
Foreign exchange and other movements
  
 
(4
)
  
 
(14
)
  
 
(8
)
  
 
(26
)
     (45 )      (45 )      (44 )      (134 ) 
Balance at end of period
  
$
558
 
  
$
1,130
 
  
$
566
 
  
$
2,254
 
   $ 534     $ 1,228     $ 617     $ 2,379  
Credit cards
                
Balance at beginning of period
  
$
257
 
  
$
958
 
  
$
–
 
  
$
1,215
 
   $ 295     $ 890     $ –     $ 1,185  
Provision for credit losses
                
Remeasurement
(1)
  
 
(67
)
  
 
146
 
  
 
195
 
  
 
274
 
     (70 )      235       225       390  
Newly originated or purchased financial assets
  
 
19
 
  
 
–
 
  
 
–
 
  
 
19
 
     26       –       –       26  
Derecognition of financial assets and maturities
  
 
(9
)
  
 
(10
)
  
 
–
 
  
 
(19
)
     (10 )      (9 )      –       (19 ) 
Changes in models and methodologies
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
     –       –       –       –  
Transfer to (from):
                
Stage 1
  
 
74
 
  
 
(74
)
  
 
–
  
 
–
 
     95       (95 )      –       –  
Stage 2
  
 
(20
)
  
 
20
 
  
 
–
  
 
–
 
     (30 )      30       –       –  
Stage 3
  
 
–
 
  
 
(113
)
  
 
113
 
  
 
–
 
     –       (94 )      94       –  
Gross write-offs
  
 
–
 
  
 
–
 
  
 
(358
)
  
 
(358
)
     –       –       (365 )      (365 ) 
Recoveries
  
 
–
 
  
 
–
 
  
 
49
 
  
 
49
 
     –       –       49       49  
Foreign exchange and other movements
  
 
(4
)
  
 
(11
)
  
 
1
  
 
(14
)
     (14 )      (14 )      (3 )      (31 ) 
Balance at end of period
  
$
250
 
  
$
916
 
  
$
–
 
  
$
1,166
 
   $ 292     $ 943     $ –     $ 1,235  
Total retail loans
                
Balance at beginning of period
  
$
986
 
  
$
2,480
 
  
$
1,404
 
  
$
4,870
 
   $ 1,009     $ 2,524     $ 1,358     $ 4,891  
Provision for credit losses
                
Remeasurement
(1)
  
 
(276
)
  
 
425
 
  
 
630
 
  
 
779
 
     (277 )      618       708       1,049  
Newly originated or purchased financial assets
  
 
122
 
  
 
–
 
  
 
–
 
  
 
122
 
     132       –       –       132  
Derecognition of financial assets and maturities
  
 
(33
)
  
 
(44
)
  
 
–
 
  
 
(77
)
     (32 )      (51 )      –       (83 ) 
Changes in models and methodologies
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
     7       (32 )      (3 )      (28 ) 
Transfer to (from):
                
Stage 1
  
 
281
 
  
 
(271
)
  
 
(10
)
  
 
–
 
     319       (301 )      (18 )      –  
Stage 2
  
 
(70
)
  
 
154
 
  
 
(84
)
  
 
–
 
     (91 )      172       (81 )      –  
Stage 3
  
 
(1
)
  
 
(244
)
  
 
245
 
  
 
–
 
     (2 )      (240 )      242       –  
Gross write-offs
  
 
–
 
  
 
–
 
  
 
(891
)
  
 
(891
)
     –       –       (910 )      (910 ) 
Recoveries
  
 
–
 
  
 
–
 
  
 
126
 
  
 
126
 
     –       –       125       125  
Foreign exchange and other movements
  
 
(11
)
  
 
(35
)
  
 
(13
)
  
 
(59
)
     (61 )      (67 )      (56 )      (184 ) 
Balance at end of period
  
$
 998
 
  
$
 2,465
 
  
$
 1,407
 
  
$
 4,870
 
   $  1,004     $  2,623     $  1,365     $  4,992  
Non-retail
loans:
                
Business and government
                
Balance at beginning of period
  
$
784
 
  
$
635
 
  
$
883
 
  
$
2,302
 
   $ 790     $ 551     $ 832     $ 2,173  
Provision for credit losses
                
Remeasurement
(1)
  
 
(24
)
  
 
112
 
  
 
343
 
  
 
431
 
     9       123       211       343  
Newly originated or purchased financial assets
  
 
348
 
  
 
–
 
  
 
–
 
  
 
348
 
     317       –       –       317  
Derecognition of financial assets and maturities
  
 
(292
)
  
 
(90
)
  
 
(5
)
  
 
(387
)
     (296 )      (26 )      (11 )      (333 ) 
Changes in models and methodologies
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
     –       –       –       –  
Transfer to (from):
                
Stage 1
  
 
28
  
 
(28
)
  
 
–
 
  
 
–
 
     38       (38 )      –       –  
Stage 2
  
 
(11
)
  
 
11
 
  
 
–
 
  
 
–
 
     (16 )      18       (2 )      –  
Stage 3
  
 
–
  
 
(10
)
  
 
10
 
  
 
–
 
     (1 )      (5 )      6       –  
Gross write-offs  
 
–
 
  
 
–
 
  
 
(208
)
  
 
(208
)
     –       –       (163 )      (163 ) 
Recoveries
  
 
–
 
  
 
–
 
  
 
15
 
  
 
15
 
     –       –       17       17  
Foreign exchange and other movements
  
 
(4
)
  
 
(5
)
  
 
(37
)
  
 
(46
)
     (21 )      (12 )      (54 )      (87 ) 
Balance at end of period including
off-balance
sheet exposures
  
$
829
 
  
$
625
 
  
$
1,001
 
  
$
2,455
 
   $ 820     $ 611     $ 836     $ 2,267  
Less: Allowance for credit losses on
off-balance
sheet exposures
(2)
  
 
(125
)
  
 
(50
)
  
 
–
 
  
 
(175
)
     (153 )      (22 )      –       (175 ) 
Balance at end of period
(2)
  
$
704
 
  
$
575
 
  
$
1,001
 
  
$
2,280
 
   $ 667     $ 589     $ 836     $ 2,092  
(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)
Allowance for credit losses on
off-balance
sheet exposures is recorded in other liabilities in the Consolidated Statement of Financial Position.
 
 
    As at and for the six months ended  
    
April 30, 2026
     April 30, 2025  
($ millions)
  
Stage 1
    
Stage 2
    
Stage 3
    
Total
     Stage 1     Stage 2     Stage 3     Total  
Retail loans:
                
Residential mortgages
                
Balance at beginning of period
  
$
196
 
  
$
424
 
  
$
840
 
  
$
1,460
 
   $ 165     $ 398     $ 645     $ 1,208  
Provision for credit losses
                
Remeasurement
(1)
  
 
(127
)
  
 
88
 
  
 
174
 
  
 
135
 
     (99 )      102       201       204  
Newly originated or purchased financial assets
  
 
21
 
  
 
–
 
  
 
–
 
  
 
21
 
     25       –       –       25  
Derecognition of financial assets and maturities
  
 
(4
)
  
 
(19
)
  
 
–
 
  
 
(23
)
     (4 )      (13 )      –       (17 ) 
Changes in models and methodologies
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
     (2 )      (14 )      9       (7 ) 
Transfer to (from):
                
Stage 1
  
 
134
 
  
 
(117
)
  
 
(17
)
  
 
–
 
     116       (92 )      (24 )      –  
Stage 2
  
 
(20
)
  
 
128
 
  
 
(108
)
  
 
–
 
     (23 )      120       (97 )      –  
Stage 3
  
 
–
 
  
 
(50
)
  
 
50
 
  
 
–
 
     –       (49 )      49       –  
Gross write-offs
  
 
–
 
  
 
–
 
  
 
(72
)
  
 
(72
)
     –       –       (52 )      (52 ) 
Recoveries
  
 
–
 
  
 
–
 
  
 
11
 
  
 
11
 
     –       –       12       12  
Foreign exchange and other movements
(2)
  
 
(10
)
  
 
(35
)
  
 
(37
)
  
 
(82
)
     –       –       5       5  
Balance at end of period
  
$
190
 
  
$
419
 
  
$
841
 
  
$
1,450
 
   $ 178     $ 452     $ 748     $ 1,378  
Personal loans
                
Balance at beginning of period
  
$
613
 
  
$
1,215
 
  
$
604
 
  
$
2,432
 
   $ 544     $ 1,154     $ 621     $ 2,319  
Provision for credit losses
                
Remeasurement
(1)
  
 
(307
)
  
 
462
 
  
 
725
 
  
 
880
 
     (328 )      596       761       1,029  
Newly originated or purchased financial assets
  
 
175
 
  
 
–
 
  
 
–
 
  
 
175
 
     194       –       –       194  
Derecognition of financial assets and maturities
  
 
(43
)
  
 
(58
)
  
 
–
 
  
 
(101
)
     (43 )      (76 )      –       (119 ) 
Changes in models and methodologies
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
     –       (29 )      5       (24 ) 
Transfer to (from):
                
Stage 1
  
 
293
 
  
 
(287
)
  
 
(6
)
  
 
–
 
     311       (303 )      (8 )      –  
Stage 2
  
 
(80
)
  
 
136
 
  
 
(56
)
  
 
–
 
     (106 )      162       (56 )      –  
Stage 3
  
 
(2
)
  
 
(224
)
  
 
226
 
  
 
–
 
     (4 )      (246 )      250       –  
Gross write-offs
  
 
–
 
  
 
–
 
  
 
(984
)
  
 
(984
)
     –       –       (1,075 )      (1,075 ) 
Recoveries
  
 
–
 
  
 
–
 
  
 
143
 
  
 
143
 
     –       –       145       145  
Foreign exchange and other movements
(2)
  
 
(91
)
  
 
(114
)
  
 
(86
)
  
 
(291
)
     (34 )      (30 )      (26 )      (90 ) 
Balance at end of period
  
$
558
 
  
$
1,130
 
  
$
566
 
  
$
2,254
 
   $ 534     $ 1,228     $ 617     $ 2,379  
Credit cards
                
Balance at beginning of period
  
$
338
 
  
$
1,017
 
  
$
–
 
  
$
1,355
 
   $ 288     $ 872     $ –     $ 1,160  
Provision for credit losses
                
Remeasurement
(1)
  
 
(139
)
  
 
343
 
  
 
413
 
  
 
617
 
     (151 )      403       464       716  
Newly originated or purchased financial assets
  
 
40
 
  
 
–
 
  
 
–
 
  
 
40
 
     58       –       –       58  
Derecognition of financial assets and maturities
  
 
(17
)
  
 
(15
)
  
 
–
 
  
 
(32
)
     (23 )      (20 )      –       (43 ) 
Changes in models and methodologies
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
     (2 )      (7 )      –       (9 ) 
Transfer to (from):
                
Stage 1
  
 
154
 
  
 
(154
)
  
 
–
 
  
 
–
 
     183       (183 )      –       –  
Stage 2
  
 
(47
)
  
 
47
 
  
 
–
 
  
 
–
 
     (57 )      57       –       –  
Stage 3
  
 
–
 
  
 
(211
)
  
 
211
 
  
 
–
 
     –       (182 )      182       –  
Gross write-offs
  
 
–
 
  
 
–
 
  
 
(733
)
  
 
(733
)
     –       –       (738 )      (738 ) 
Recoveries
  
 
–
 
  
 
–
 
  
 
108
 
  
 
108
 
     –       –       91       91  
Foreign exchange and other movements
(2)
  
 
(79
)
  
 
(111
)
  
 
1
 
  
 
(189
)
     (4 )      3       1       –  
Balance at end of period
  
$
250
 
  
$
916
 
  
$
–
 
  
$
1,166
 
   $ 292     $ 943     $ –     $ 1,235  
Total retail loans
                
Balance at beginning of period
  
$
 1,147
 
  
$
 2,656
 
  
$
 1,444
 
  
$
 5,247
 
   $ 997     $ 2,424     $ 1,266     $ 4,687  
Provision for credit losses
                
Remeasurement
(1)
  
 
(573
)
  
 
893
 
  
 
1,312
 
  
 
1,632
 
     (578 )      1,101       1,426       1,949  
Newly originated or purchased financial assets
  
 
236
 
  
 
–
 
  
 
–
 
  
 
236
 
     277       –       –       277  
Derecognition of financial assets and maturities
  
 
(64
)
  
 
(92
)
  
 
–
 
  
 
(156
)
     (70 )      (109 )      –       (179 ) 
Changes in models and methodologies
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
     (4 )      (50 )      14       (40 ) 
Transfer to (from):
                
Stage 1
  
 
581
 
  
 
(558
)
  
 
(23
)
  
 
–
 
     610       (578 )      (32 )      –  
Stage 2
  
 
(147
)
  
 
311
 
  
 
(164
)
  
 
–
 
     (186 )      339       (153 )      –  
Stage 3
  
 
(2
)
  
 
(485
)
  
 
487
 
  
 
–
 
     (4 )      (477 )      481       –  
Gross write-offs
  
 
–
 
  
 
–
 
  
 
(1,789
)
  
 
(1,789
)
     –       –       (1,865 )      (1,865 ) 
Recoveries
  
 
–
 
  
 
–
 
  
 
262
 
  
 
262
 
     –       –       248       248  
Foreign exchange and other movements
(2)
  
 
(180
)
  
 
(260
)
  
 
(122
)
  
 
(562
)
     (38 )      (27 )      (20 )      (85 ) 
Balance at end of period
  
$
998
 
  
$
2,465
 
  
$
1,407
 
  
$
4,870
 
   $  1,004     $  2,623     $   1,365     $   4,992  
Non-retail
loans:
                
Business and government
                
Balance at beginning of period
  
$
854
 
  
$
640
 
  
$
897
 
  
$
2,391
 
   $ 739     $ 508     $ 788     $ 2,035  
Provision for credit losses
                
Remeasurement
(1)
  
 
(79
)
  
 
226
 
  
 
603
 
  
 
750
 
     (2 )      190       390       578  
Newly originated or purchased financial assets
  
 
681
 
  
 
–
 
  
 
–
 
  
 
681
 
     675       –       –       675  
Derecognition of financial assets and maturities
  
 
(590
)
  
 
(151
)
  
 
(8
)
  
 
(749
)
     (611 )      (53 )      (19 )      (683 ) 
Changes in models and methodologies
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
     –       –       –       –  
Transfer to (from):
                
Stage 1
  
 
54
 
  
 
(54
)
  
 
–
 
  
 
–
 
     63       (63 )      –       –  
Stage 2
  
 
(30
)
  
 
30
 
  
 
–
 
  
 
–
 
     (38 )      41       (3 )      –  
Stage 3
  
 
–
 
  
 
(25
)
  
 
25
  
 
–
 
     (2 )      (10 )      12       –  
Gross write-offs  
 
–
 
  
 
–
 
  
 
(406
)
  
 
(406
)
     –       –       (303 )      (303 ) 
Recoveries
  
 
–
 
  
 
–
 
  
 
26
  
 
26
 
     –       –       35       35  
Foreign exchange and other movements
(2)
  
 
(61
)
  
 
(41
)
  
 
(136
)
  
 
(238
)
     (4 )      (2 )      (64 )      (70 ) 
Balance at end of period including
off-balance
sheet exposures
  
$
829
 
  
$
625
 
  
$
1,001
 
  
$
2,455
 
   $ 820     $ 611     $ 836     $ 2,267  
Less: Allowance for credit losses on
off-balance
sheet exposures
(3)
  
 
(125
)
  
 
(50
)
  
 
–
 
  
 
(175
)
     (153 )      (22 )      –       (175 ) 
Balance at end of period
(3)
  
$
704
 
  
$
575
 
  
$
1,001
 
  
$
2,280
 
   $ 667     $ 589     $ 836     $ 2,092  
  (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)
Includes impact of divested operations.
  (3)
Allowance for credit losses on
off-balance
sheet exposures is recorded in other liabilities in the Consolidated Statement of Financial Position.
Summary of Carrying Value of Exposures by Risk Rating
  (d)
Carrying value of exposures by risk rating
 
Residential
mortgages
  
As at April 30, 2026
     As at October 31, 2025  
Category of PD grades

($ millions)
  
Stage 1
    
Stage 2
    
Stage 3
(1)
    
Total
     Stage 1     Stage 2     Stage 3
(1)
     Total  
Very low
  
$
221,008
 
  
$
3,591
 
  
$
–
 
  
$
224,599
 
   $ 219,905     $ 3,983     $ –     $ 223,888  
Low
  
 
84,108
 
  
 
4,138
 
  
 
–
 
  
 
88,246
 
     83,755       4,820       –       88,575  
Medium
  
 
15,854
 
  
 
9,185
 
  
 
–
 
  
 
25,039
 
     15,870       8,618       –       24,488  
High
  
 
2,307
 
  
 
5,913
 
  
 
–
 
  
 
8,220
 
     3,002       6,007       –       9,009  
Very high
  
 
8
 
  
 
2,959
 
  
 
–
 
  
 
2,967
 
     48       3,170       –       3,218  
Loans not graded
(2)
  
 
15,840
 
  
 
680
 
  
 
–
 
  
 
16,520
 
     16,937       1,173       –       18,110  
Default
  
 
–
 
  
 
–
 
  
 
2,904
 
  
 
2,904
 
     –       –       2,903       2,903  
Total
  
$
339,125
 
  
$
26,466
 
  
$
2,904
 
  
$
368,495
 
   $ 339,517     $ 27,771     $ 2,903     $ 370,191  
Allowance for credit losses
  
 
190
 
  
 
419
 
  
 
841
 
  
 
1,450
 
     196       424       840       1,460  
Carrying value
  
$
 338,935
 
 
$
 26,047
 
 
$
 2,063
 
 
$
 367,045
 
   $  339,321     $  27,347     $  2,063     $  368,731  
  (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 April 30, 2026
     As at October 31, 2025  
Category of PD grades

($ millions)
  
Stage 1
    
Stage 2
    
Stage 3
(1)
    
Total
     Stage 1     Stage 2     Stage 3
(1)
     Total  
Very low
  
$
30,851
 
  
$
180
 
  
$
–
 
  
$
31,031
 
   $ 31,009     $ 202     $ –     $ 31,211  
Low
  
 
20,954
 
  
 
700
 
  
 
–
 
  
 
21,654
 
     21,075       751       –       21,826  
Medium
  
 
12,818
 
  
 
44
 
  
 
–
 
  
 
12,862
 
     12,886       78       –       12,964  
High
  
 
8,569
 
  
 
5,453
 
  
 
–
 
  
 
14,022
 
     10,331       5,659       –       15,990  
Very high
  
 
41
 
  
 
2,274
 
  
 
–
 
  
 
2,315
 
     35       2,651       –       2,686  
Loans not graded
(2)
  
 
23,101
 
  
 
2,395
 
  
 
–
 
  
 
25,496
 
     22,465       2,354       –       24,819  
Default
  
 
–
 
  
 
–
 
  
 
975
 
  
 
975
 
     –       –       1,071       1,071  
Total
  
$
 96,334
 
 
$
 11,046
 
 
$
 975
 
 
$
 108,355
 
   $ 97,801     $ 11,695     $ 1,071     $ 110,567  
Allowance for credit losses
  
 
558
 
  
 
1,130
 
  
 
566
 
  
 
2,254
 
     613       1,215       604       2,432  
Carrying value
  
$
95,776
 
  
$
9,916
 
  
$
409
 
  
$
106,101
 
   $   97,188     $  10,480     $  467     $  108,135  
  (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 April 30, 2026
     As at October 31, 2025  
Category of PD grades

($ millions)
  
Stage 1
    
Stage 2
    
Stage 3
    
Total
     Stage 1     Stage 2     Stage 3     Total  
Very low
  
$
2,517
 
  
$
1
 
  
$
–
 
  
$
2,518
 
   $ 2,646     $ 2     $ –     $ 2,648  
Low
  
 
3,022
 
  
 
8
 
  
 
–
 
  
 
3,030
 
     3,171       11       –       3,182  
Medium
  
 
4,295
 
  
 
12
 
  
 
–
 
  
 
4,307
 
     4,792       26       –       4,818  
High
  
 
1,992
 
  
 
1,723
 
  
 
–
 
  
 
3,715
 
     3,210       1,942       –       5,152  
Very high
  
 
7
 
  
 
1,098
 
  
 
–
 
  
 
1,105
 
     20       1,204       –       1,224  
Loans not graded
(1)
  
 
912
 
  
 
453
 
  
 
–
 
  
 
1,365
 
     582       439       –       1,021  
Default
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
     –       –       –       –  
Total
  
$
12,745
 
  
$
3,295
 
  
$
–
 
  
$
16,040
 
   $ 14,421     $ 3,624     $ –     $ 18,045  
Allowance for credit losses
  
 
250
 
  
 
916
 
  
 
–
 
  
 
1,166
 
     338       1,017       –       1,355  
Carrying value
  
$
 12,495
 
 
$
 2,379
 
 
$
 –
 
 
$
 14,874
 
   $   14,083     $   2,607     $  –     $   16,690  
  (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 April 30, 2026
 
 
As at October 31, 2025
 
Category of PD grades
($ millions)
 
Stage 1
 
 
Stage 2
 
 
Stage 3
 
 
Total
 
 
Stage 1
 
 
Stage 2
 
 
Stage 3
 
 
Total
 
Very low
  
$
133,523
 
  
$
236
 
  
$
–
 
  
$
133,759
 
   $ 126,681     $ 255     $ –     $ 126,936  
Low
  
 
20,726
 
  
 
56
 
  
 
–
 
  
 
20,782
 
     22,102       71       –       22,173  
Medium
  
 
7,388
 
  
 
5
 
  
 
–
 
  
 
7,393
 
     9,569       13       –       9,582  
High
  
 
2,094
 
  
 
423
 
  
 
–
 
  
 
2,517
 
     4,047       631       –       4,678  
Very high
  
 
4
 
  
 
287
 
  
 
–
 
  
 
291
 
     14       351       –       365  
Loans not graded
(1)
  
 
8,663
 
  
 
2,085
 
  
 
–
 
  
 
10,748
 
     9,039       2,049       –       11,088  
Default
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
     –       –       –       –  
Carrying value
  
$
 172,398
 
 
$
 3,092
 
 
$
 –
 
 
$
 175,490
 
   $  171,452     $   3,370     $  –     $  174,822  
  (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 April 30, 2026
     As at October 31, 2025  
Category of PD grades

($ millions)
  
Stage 1
    
Stage 2
    
Stage 3
(1)
    
Total
     Stage 1     Stage 2     Stage 3
(1)
     Total  
Very low
  
$
387,899
 
  
$
4,008
 
  
$
–
 
  
$
391,907
 
   $ 380,241     $ 4,442     $ –     $ 384,683  
Low
  
 
128,810
 
  
 
4,902
 
  
 
–
 
  
 
133,712
 
     130,103       5,653       –       135,756  
Medium
  
 
40,355
 
  
 
9,246
 
  
 
–
 
  
 
49,601
 
     43,117       8,735       –       51,852  
High
  
 
14,962
 
  
 
13,512
 
  
 
–
 
  
 
28,474
 
     20,590       14,239       –       34,829  
Very high
  
 
60
 
  
 
6,618
 
  
 
–
 
  
 
6,678
 
     117       7,376       –       7,493  
Loans not graded
(2)
  
 
48,516
 
  
 
5,613
 
  
 
–
 
  
 
54,129
 
     49,023       6,015       –       55,038  
Default
  
 
–
 
  
 
–
 
  
 
3,879
 
  
 
3,879
 
     –       –       3,974       3,974  
Total
  
$
620,602
 
  
$
43,899
 
  
$
3,879
 
  
$
668,380
 
   $ 623,191     $ 46,460     $ 3,974     $ 673,625  
Allowance for credit losses
  
 
998
 
  
 
2,465
 
  
 
1,407
 
  
 
4,870
 
     1,147       2,656       1,444       5,247  
Carrying value
  
$
 619,604
 
 
$
 41,434
 
 
$
 2,472
 
 
$
 663,510
 
   $  622,044     $  43,804     $  2,530     $  668,378  
  (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 April 30, 2026
     As at October 31, 2025  
Grade
($ millions)
  
Stage 1
    
Stage 2
    
Stage 3
(1)
    
Total
     Stage 1     Stage 2     Stage 3
(1)
     Total  
Investment grade
  
$
137,139
 
  
$
523
 
  
$
–
 
  
$
137,662
 
   $ 138,789     $ 1,482     $ –     $ 140,271  
Non-investment
grade
  
 
117,758
 
  
 
5,761
 
  
 
–
 
  
 
123,519
 
     121,999       7,169       –       129,168  
Watch list
  
 
6
 
  
 
4,107
 
  
 
–
 
  
 
4,113
 
     7       4,468       –       4,475  
Loans not graded
(2)
  
 
2,647
 
  
 
24
 
  
 
–
 
  
 
2,671
 
     2,485       36       –       2,521  
Default
  
 
–
 
  
 
–
 
  
 
3,729
 
  
 
3,729
 
     –       –       3,270       3,270  
Total
  
$
257,550
 
  
$
 10,415
 
  
$
3,729
 
  
$
271,694
 
   $ 263,280     $ 13,155     $ 3,270     $ 279,705  
Allowance for credit losses
  
 
704
 
  
 
575
 
  
 
1,001
 
  
 
2,280
 
     713       606       897       2,216  
Carrying value
  
$
 256,846
 
 
$
9,840
 
 
$
 2,728
 
 
$
 269,414
 
   $  262,567     $  12,549     $  2,373     $  277,489  
  (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 April 30, 2026
     As at October 31, 2025  
Grade
($ millions)
  
Stage 1
    
Stage 2
    
Stage 3
(1)
    
Total
     Stage 1     Stage 2     Stage 3
(1)
     Total  
Investment grade
  
$
248,402
 
  
$
1,191
 
  
$
–
 
  
$
249,593
 
   $ 242,637     $ 1,101     $ –     $ 243,738  
Non-investment
grade
  
 
57,904
 
  
 
1,826
 
  
 
–
 
  
 
59,730
 
     60,136       1,841       –       61,977  
Watch list
  
 
–
 
  
 
1,018
 
  
 
–
 
  
 
1,018
 
     –       1,007       –       1,007  
Loans not graded
(2)
  
 
4,699
 
  
 
1
 
  
 
–
 
  
 
4,700
 
     4,593       1       –       4,594  
Default
  
 
–
 
  
 
–
 
  
 
49
 
  
 
49
 
     –       –       31       31  
Total
  
$
311,005
 
  
$
4,036
 
  
$
49
 
  
$
315,090
 
   $ 307,366     $ 3,950     $ 31     $ 311,347  
Allowance for credit losses
  
 
125
 
  
 
50
 
  
 
–
 
  
 
175
 
     141       34       –       175  
Carrying value
  
$
 310,880
 
 
$
 3,986
 
 
$
 49
 
 
$
 314,915
 
   $  307,225     $   3,916     $  31     $  311,172  
  (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 April 30, 2026
     As at October 31, 2025  
Grade
($ millions)
  
Stage 1
    
Stage 2
    
Stage 3
(1)
    
Total
     Stage 1     Stage 2     Stage 3
(1)
     Total  
Investment grade
  
$
385,541
 
  
$
1,714
 
  
$
–
 
  
$
387,255
 
   $ 381,426     $ 2,583     $ –     $ 384,009  
Non-investment
grade
  
 
175,662
 
  
 
7,587
 
  
 
–
 
  
 
183,249
 
     182,135       9,010       –       191,145  
Watch list
  
 
6
 
  
 
5,125
 
  
 
–
 
  
 
5,131
 
     7       5,475       –       5,482  
Loans not graded
(2)
  
 
7,346
 
  
 
25
 
  
 
–
 
  
 
7,371
 
     7,078       37       –       7,115  
Default
  
 
–
 
  
 
–
 
  
 
3,778
 
  
 
3,778
 
     –       –       3,301       3,301  
Total
  
$
568,555
 
  
$
14,451
 
  
$
3,778
 
  
$
586,784
 
   $ 570,646     $ 17,105     $ 3,301     $ 591,052  
Allowance for credit losses
  
 
829
 
  
 
625
 
  
 
1,001
 
  
 
2,455
 
     854       640       897       2,391  
Carrying value
  
$
 567,726
 
  
$
 13,826
 
  
$
 2,777
 
  
$
 584,329
 
   $  569,792     $  16,465     $  2,404     $  588,661  
  (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. 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.
 
    
As at April 30, 2026
  
($ millions)
  
31-60

days
    
61-90

days
    
91 days
and greater
(2)
    
Total
  
Residential mortgages
  
$
1,352
 
  
$
642
 
  
$
–
 
  
$
1,994
 
Personal loans
  
 
580
 
  
 
283
 
  
 
–
 
  
 
863
 
Credit cards
  
 
232
 
  
 
162
 
  
 
361
 
  
 
755
 
Business and government
  
 
163
 
  
 
126
 
  
 
–
 
  
 
289
 
Total
  
$
 2,327
 
  
$
 1,213
 
  
$
  361
 
  
$
 3,901
 
     As at January 31, 2026  
($ millions)
  
31-60

days		    
61-90

days		     91 days
and greater
(2)
     Total  
Residential mortgages
   $ 1,489     $ 694     $ –     $ 2,183  
Personal loans
     581       309       –       890  
Credit cards
     219       178       412       809  
Business and government
     205       72       –       277  
Total
   $  2,494     $  1,253     $  412     $  4,159  
     As at October 31, 2025  
($ millions)
  
31-60

days		    
61-90

days		     91 days
and greater
(2)
     Total  
Residential mortgages
   $ 1,603     $ 767     $ –     $ 2,370  
Personal loans
     691       353       –       1,044  
Credit cards
     289       189       430       908  
Business and government
     238       104       –       342  
Total
   $  2,821     $  1,413     $  430     $  4,664  
  (1)
Loans up to 30 days past due 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
  (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)
  
April 30
2026
 
  
January 31
2026
 
  
October 31
2025
 
Unpaid principal balance
(1)
   
$
204
 
    $ 210      $ 224  
Credit related fair value adjustments
   
 
(19
)
      (20 )       (24 ) 
Carrying value
   
 
185
 
      190        200  
Stage 3 allowance
   
 
–
 
      (1 )       (1 ) 
Carrying value net of related allowance
   
$
 185
 
    $ 189      $ 199  
  (1)
Represents principal amount owed net of write-offs.