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: Gabriel Dechaine - National Bank Financial, Inc., Research Division - Analyst
: I want to ask Graeme about your outlook for 2020 on the PCL loss range. I don't -- I didn't come across it in your materials, but you were smidge
above your target range this year. I know there were some idiosyncratic losses early in the year. But on the other hand, maybe some seasoning
effect in the card portfolio, Capital Market seems to be in an upswing there for PCL balance of factors, where do you see the ratio lining up in 2020?
Question: Gabriel Dechaine - National Bank Financial, Inc., Research Division - Analyst
: You also mentioned in the cards and personal loans as drivers, the seasonality. And I always thought about it as more of a Q4 thing. And then the
QuTbec regulatory change there for making minimum payments, and that's like a 5-year phase in. So I'm a bit surprised to hear that's already having
an impact. We are seeing insolvency data moving higher across Canada. And just wondering, is that where you see the most pressure coming in
next year in terms of normalization or seasoning in that portfolio?
Question: Sohrab Movahedi - BMO Capital Markets Equity Research - Analyst
: I just want to kind of go back to that new client stuff, Neil. 300,000, you say, I think you've added this year, 300,000 last year. The 2.5 million target,
can you just -- I know we're short on time, but can you give us a sense of how that is translating into your segment's results and whether or not
you are actually having to still provide incentives, whether it's iPads or cash to pick up some of these customers?
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