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
: Yes. Are there any other implications of that accounting change other than like the valuation of the goodwill? Like which I assume is on every other
quarter or something like that?
Question: Gabriel Dechaine - National Bank Financial, Inc., Research Division - Analyst
: Okay. My real question is on the mortgage growth strategy and I guess the overall growth strategy for the Canadian retail business. And Victor,
you mentioned the word market level growth and consistent growth. And Laura, you reiterated that. What are you doing differently this time?
Because a few years ago, we had a bit of a roller coaster move around in the market growth rates. It was really high at one point and really low. Like
what are you doing differently to make sure it's more consistent and I guess building better relationships overall?
Question: Gabriel Dechaine - National Bank Financial, Inc., Research Division - Analyst
: I'm looking at Investor Day material.
Question: Sohrab Movahedi - BMO Capital Markets Equity Research - Analyst
: Okay. Maybe, Victor, two quick questions for you. You've obviously done very well by the clients. A lot of the actions you've taken, maybe waiving
fees and what have you, net beneficial both to clients, and I guess, to customer retention. Do you think brokerage commissions will go to 0 in
Canada?
Question: Sohrab Movahedi - BMO Capital Markets Equity Research - Analyst
: Okay. And so when you look ahead -- and assuming credit is in hand, so to speak, and when you think about the recovery and your complex of
business this year, do you feel like it's going to be more of a consumer or a commercial-led recovery?
Question: Sohrab Movahedi - BMO Capital Markets Equity Research - Analyst
: No, I think you gave me the point. I mean I think you've got the U.S. franchise as well, which I suspect is actually very well positioned with improved
sentiment as well. No?
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