Fourth Quarter 2022 Financial Highlights
CIBC Overview
Solid performance in fiscal 2022 despite a challenging macroeconomic backdrop
Results reflect strong execution against our strategic priorities
Diluted EPS
Reported
$6.68
Adjusted 1,2
$7.05
Revenue
$21.8B
YoY +9%
Earnings
Reported NIAT
ROE
CET1 Ratio 6
$6.2B
YoY -4% -2%2
Adjusted PPPT 2,3 $9.4B
YoY -3% +7%2
Reported 4
Adjusted 2,5
14.0%
14.7%
11.7%
YoY -65 bps
Earnings Growth ⚫5%-10%
Return on Equity • 15%+
Operating Leverage • Positive
Dividend Payout Ratio • 40%-50%
•
Reported Adjusted²
F22⚫(4%)
3-YR CAGR8.6.1%
(2%)
5.8%
F22 14.0% 14.7%
3-YR Average • 13.4% 14.4%
2022
Financial
Objectives7
e
F22 (1.9%) (1.9%)
3-YR Average ⚫ (0.2%) (0.6%)
F22.48.8%
46.3%
3-YR Average ⚫53.8% 48.9%
Pre-provision, pre-tax earnings (PPPT) is revenue net of non-interest expenses and is a non-GAAP measure. See slide 43 for further details.
Certain additional disclosures for these specified financial measures have been incorporated by reference and can be found on page 103 in the 2022 Annual Report, available on SEDAR at www.sedar.com.
See note 2 on slide 46.
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See note 1 on slide 46.
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Adjusted results are non-GAAP measures. See slides 43-45 for further details.
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The 3-year compound annual growth rate (CAGR) is calculated from 2019 to 2022, and the 3-year average is a simple average from 2020 to 2022.
Our capital ratios are calculated pursuant to OSFI's Capital Adequacy Requirements (CAR) Guideline, which is based on BCBS standards. For additional information, see the "Capital management" section in the 2022 Annual Report, available on SEDAR at www.sedar.com.
Financial objectives are determined on an adjusted basis. Adjusted results are non-GAAP measures. See slide 43 for further details.
CIBC◇
Fourth Quarter, 2022
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