Q: Read your report on earnings this morning . Just wondering if you learned anything interesting on the conference call ? Thanks for your terrific service ......
5i Research Answer:
The company further discussed equipment financing, which accounted for a large portion of any weakness, up to 30c per share impact to earnings. This largely relates to a single customer and is not expected to be ongoing. Provisions for credit losses is expected to show improvement next year. Personal loans declined, but this reflects EQB's decision to exit the broker channel for single family mortgages. Customer count rose an impressive 28%, setting up future growth through cross-selling other products. Overall, we would consider the call positive.