FY 2021 BALANCED APPROACH BETWEEN INVESTMENT AND COST MANAGEMENT
FY 2021 BALANCED APPROACH BETWEEN INVESTMENT AND COST MANAGEMENT
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Revenue
Reported:
Adjusted(1):
$8,927 MM; +13%
$9,116 MM; +11%
ā
Strong performance across the Bank
Expense
Reported:
Adjusted(2):
$4,853 MM; +7%
$4,844 MM; +10%
PTPP(3)
Reported:
$4,074 MM; +20%
Adjusted(4): $4,272 MM; +12%
Efficiency Ratio(4)
Reported:
54.4%
Adjusted (5):
53.1%
Positive operating leverage and continued discipline in cost
management
Expense growth reflecting:
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Higher variable compensation related to our strong performance
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Expenses other than variable compensation up 4% with continued
investments in:
Talent
Technology
Brand
PTPP growth of 12%
Operating leverage of 1.2% (5)
(1) Total revenues presented on a taxable equivalent basis and excluding specified items in Q4-20. This is a non-GAAP financial measure. See slides 2 and 35.
(2) Excluding specified items in Q4-21 and the Q1-20 & Q4-20 comparable periods, which are non-GAAP financial measures. See slides 2 and 35.
(3) Pre-Tax Pre-Provision earnings (PTPP) refers to Income before provisions for credit losses and income taxes.
(4) On a taxable equivalent basis and excluding specified items in Q4-21 and the Q1-20 & Q4-20 comparable periods, which are non-GAAP financial measures. See slides 2 and 35.
(5) On a taxable equivalent basis and excluding specified items. This is a non-GAAP ratio. See slide 2.
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