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: Stephen Boland - Raymond James Holdings (Canada) Inc - Analyst
: Maybe, Eric, if you could just talk about the evolution of the transaction. We all know you went through a formal kind of process a couple
of years ago before you took over. I'm just wondering how this transaction started and got to this point?
Question: Stephen Boland - Raymond James Holdings (Canada) Inc - Analyst
: Okay. That's great. Second question, which you're probably getting a lot of. Can you just talk about the dividend sustainability here until
closing? Is there any thoughts on closing or shutting the -- reducing the dividend, is there anything in the purchase agreement about that?
And just I'll add a third here just on the same topic kind of thing. Do you expect any issues on closing the branches? I know Quebec can be
very -- they're not your regulator, but certainly, the government is always protective of employment. Maybe just touch on those two things.
Question: Sohrab Movahedi - Bank of Montreal - Analyst
: I just wanted to confirm that you intend to continue with your investment agenda here, Eric, and Yvan. And to the extent that you continue
to make the investments, if you could kind of, I suppose, portion it out as to how much of investments to date have been more in favor of
the commercial franchise as opposed to the retail and SME and what the split may look like on a go-forward basis as well?
Question: Sohrab Movahedi - Bank of Montreal - Analyst
: Okay. And Eric, as obviously -- I mean, you're in the midst of something and we'll learn more about the details when the proxy becomes
available. But is the bank now mostly focused on ensuring that -- are you more managing the downside risk? Or are you still trying to deploy
capital and I don't know, grow the bank and the loan book and all of that?
Question: Sohrab Movahedi - Bank of Montreal - Analyst
: Okay. So not to belabor the point, but it is possible, then I suppose. I assume -- I mean, let me ask the question a little bit directly. Do you
have capital for SME growth? Or is that more in a controlled amortization mode until the deal closes?
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