Third Quarter 2023 Financial Results Overview
Canadian Banking: Personal & Business Banking
Strong margins and proactive expense management drive PPPT growth momentum
Net interest income up 7% YoY (8% on an adjusted 1,2
basis) driven by strong net interest margins
Non-interest income down 7% YoY (down 1% on an
adjusted 1,3 basis) primarily due to a commodity tax
charge incurred during the quarter
Reported expenses down 1% YoY, and include the
amortization of acquisition-related intangible assets
•
Adjusted expenses¹ up 4% driven by higher spend
on strategic initiatives
Reported operating leverage of 5% (2% on an
adjusted basis¹)
Provision for Credit Losses:
($MM)
Revenue
•
Total PCL ratio of 53 bps
•
PCL ratio on impaired of 31 bps
Reported
Adjusted¹
Q3/23
YOY QoQ Q3/23 YOY QoQ
Net Interest Income²
Non-Interest Income³
Expenses
PPPT4
2,412
1,898
Provision for Credit Losses
Net Income
4% 6%
7% 10%
514 (7%) (6%)
1,303 (1%) 2%
1,109 10% 10%
423
2,446
6%
7%
1,898
8%
10%
548
(1%)
0%
1,296
4%
2%
1,150
8%
14%
$223 $300
423
$223 $300
497
(16%) (22%)
527
(17%)
(18%)
Loans (Average, $B) 5,6
318
3%
1%
318
3%
1%
Deposits (Average, $B)6
218
6%
0%
218
6%
0%
Net Interest Margin (bps)
238
9
11
238
10
11
Q3/23 | Key Highlights
+590K
Net New Client Growth [LTM]7
Continued momentum in client growth
$14B
Funds Managed Growth [YTD]
in Imperial Service
94%
Digital Transactions⁹
Record high number completed digitally
Endnotes are included on slides 46 to 51.
CIBC◇
Third Quarter, 2023
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