Bank of Nova Scotia Q3 2020 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Gabriel Dechaine - National Bank Financial, Inc., Research Division - Analyst : I want to, well, thank you first of all for Slide 16. There's some good data in there. A couple of questions about it, though. First, the percent of people coming off of the deferrals that are current: 96% in Canada; 89% in international. Do you think that trend or that number is representative of what we should expect as there's more expiries over the next few months? And then second, in international, we see the percentage of deferral exposure that expired is 27% in international. I thought that would have been higher because a lot of the deferrals there were for 4-month periods, which probably would have got us into Q3. Wondering if there were any extensions that you granted there or plan to in August?

Question: Gabriel Dechaine - National Bank Financial, Inc., Research Division - Analyst : Sorry, the -- if you can comment as well on the August experience because more than half of those are expiring in August or through most of the month, just if you see what -- tell me what's going on now? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 25, 2020 / 12:15PM, BNS.TO - Q3 2020 Bank of Nova Scotia Earnings Call

Question: Sohrab Movahedi - BMO Capital Markets Equity Research - Analyst : Okay. Just wanted to go back to Nacho. Get a sense, Nacho, as to what, if any, changes have been made to risk appetite towards business in the region where the growth is likely to come and whether or not there has been a shift. And does Dan's forward-looking and expert judgment assume a skew towards more of a secured book? Or is it more of the same and whether or not, from a business perspective, the trends in expense management that you have highlighted can persist? Or are they in there to test to how much lower expenses can go from here in the international segment, in particular?

Question: Sohrab Movahedi - BMO Capital Markets Equity Research - Analyst : So just, Daniel, to be crystal clear on that, at least for the foreseeable future, growth in commercial and better, call it, secured stuff would be an improvement, so to speak, relative to where your quality estimates are.