The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Jaeme Gloyn - National Bank Financial, Inc., Research Division - Analyst
: First question is on the payments card launch. If you could maybe just give us a little bit more color as to what you're expecting from customer
acquisition, client retention and potential revenue coming off of that in our change fees, or is there anything else that we should be thinking about
on the payments card launch?
Question: Jaeme Gloyn - National Bank Financial, Inc., Research Division - Analyst
: Okay. So both interchange and third-party fee is going to be the revenue component from a payment card. This is -- I would assume this is like step
1, do you have also step 2, 3, 4 to add other payment options like credit, or with the e-commerce platform, anything with respect to the "buy now
pay later" where you've made some investments in the past?
Question: Jaeme Gloyn - National Bank Financial, Inc., Research Division - Analyst
: Excellent. Second theme was just on the all pay single-family book. Obviously, really, really strong growth in originations. I think it was that all pay
originations were CAD 2 billion in the quarter, which is obviously a really strong result. Can you talk about what you're hearing from the boots on
the ground in terms of market share competitive dynamics? How is that market -- how do that market play out in Q3, and then what are some of
the adjustments you're looking at today in the Alta space as we're seeing 5 interest rates back up a little bit.
Question: Jaeme Gloyn - National Bank Financial, Inc., Research Division - Analyst
: Okay. And do you deal from your conversations that you've grabbed some market share here, or is this more a case of the industry doing really,
really well as a whole?
Question: Geoffrey Kwan - RBC Capital Markets, Research Division - Analyst
: I just have one question. As you look to get your transition to AIRB at the start, I think it's 2023. Are you able to talk about in terms of where the
areas of your loan book that you would get the most risk-weighted asset relief. In particular, just curious if that changes your appetite on where
you want to grow the business versus what you're doing right now?
Question: Geoffrey Kwan - RBC Capital Markets, Research Division - Analyst
: And maybe if I could just a quick follow-up on that, is your comments around the single-family residential book in your Alta book. Do you foresee
that -- I mean, does that allow you or do you plan to use that to your advantage in terms of improving further your competitive position in that
space?
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