Committed to Canadians. Here’s how.
Over the last two months, we’ve spoken to millions of Canadians and small business owners. Many are facing financial uncertainty, and there is anxiety about not knowing what might come next. We know it’s been a challenging time, and we are working hard as your banks to bring you personalized and meaningful solutions to those who have been impacted.
Helping Canadians with immediate relief
With payment deferrals, we’ve freed up $4.6 billion in mortgage payments, plus deferrals on over $2.7 billion in credit cards and loans to date, to help millions of Canadians feel more secure and use their money where they need it most. We have also made $48 billion in additional credit available to businesses to help them stay operational and keep people employed.
Personalized advice to ease uncertainty
If you are experiencing hardship, we’re here with one-to-one guidance to help navigate your options and find the right solutions to get you back on your feet. We’ve also been assisting our clients with digital channels to bank from home, for more convenience and to keep them safer.
Working closely with government
To fulfill much needed federal support plans, we rapidly implemented direct deposit CERB payments to more than 2 million Canadians, and to date have facilitated more than 400,000 CEBA loans to help small businesses with $16 billion in much needed credit.
Doing more for those who need it most
Working with partners in the public and private sectors, we identified communities most in need and followed up with significant donations to support healthcare and local-based community organizations across Canada. Additionally, we have implemented practices to protect our clients and our frontline employees delivering essential banking services. We’ve been through challenging times before, and as this situation evolves, so will we. Canada’s banking industry will continue to work to bring solutions to Canadians across the country. Together, we will get through this. If you are in need of advice and support, please reach out to your advisor who is ready to help.