Financial Overview and Sector Exposure
APPENDIX 12 | OIL & GAS AND PIPELINES SECTOR
O&G Producers and Services Exposure
Gross Loans in $MM and % of Total Loans
$3,956
3.7%
55% reduction in
outstanding loans
Q1 15
O&G and Pipeline sector
Total Gross Loans of $4.2B as at January 31, 2022
4%
5%
9%
82%
Producers share
declined to 37%
$1,761
1.0%
Q1 22
■
☐
O&G producers and services exposure
significantly reduced
-
55% reduction in outstanding loans: down
from $4B in Q1/15 to $1.8B in Q1/22
(stable QoQ)
Reduction as a % of total loans: down from
3.7% in Q1/15 to 1.0% in Q1/22
Canadian focused strategy, minimal direct
US exposure
Overall O&G and Pipeline portfolio
refocused from mid-cap to large cap
-
Producers share declined from 82% in
Q1/15 to 37% in Q1/22
53% of the portfolio is Investment Grade
(as of Q1/22)
Very modest indirect exposure to
unsecured retail loans in the oil regions
(~0.1% of total loans)
7%
5%
IG: 100%
IG: 10%
■
IG: 63%
51%
IG: 37%
37%
Q1 15
Q1 22
■ Producers
■Midstream ■Services
■Refinery & Integrated
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