First Quarter 2022 Financial Results
Canadian Commercial & Wealth - broad-based growth across our connected franchise
•
Strong volume growth driving 27% increase in net interest income
Reported & Adjusted¹ ($MM)
Revenue
Net interest income
Non-interest income
Q1/22
1,297
YOY
QoQ
•
19%
5%
377
27%
7%
920
16%
4%
Non-Interest Expenses
673
18%
4%
Pre-Provision, Pre-Tax Earnings²
624
21%
5%
Provision for (reversal of) Credit Losses
Net Income
(4)
($37)
20%
•
462
31%
5%
Commercial Banking Loans and Deposits ($B)
318
328
330
Commercial loan balances up 19% YoY
Commercial deposit balances up 12% YoY
Non-interest income up 16% YoY
AUA up 14% and AUM up 13%, driven by market appreciation and strong client
flows
Higher credit fees in Commercial Banking
Expenses up 18% driven by higher performance-based compensation; excluding
this increase, YoY growth of 7%
Wealth Management ($B)
357
357
76
75
80
79
84
313
230
230
66
203
Q1/21
Q4/21
Q1/22
Loans & Acceptances ³
3
Deposits
-Net Interest Margin - segment (bps)
Q1/21
Q4/21
Q1/22
AUA4
■ AUM
4,5
2 Pre-provision, pre-tax earnings is revenue net of non-interest expenses and is a non-GAAP measure. See slide 37 for further details.
1 Adjusted results are non-GAAP financial measures. See slide 37 for further details.
CIBC
3 Comprises loans and acceptances and notional amount of letters of credit.
4 Assets under management (AUM) are included in assets under administration (AUA).
www.sedar.com.
5 Certain additional disclosures for these specified financial measures have been incorporated by reference and can be found on page 41 in the Q1/22 Management's discussion and analysis, available on SEDAR at
First Quarter, 2022
15View entire presentation