Third Quarter 2023 Financial Results Overview
Provision for Credit Losses (PCL)
Both impaired and performing PCLs trended higher
Provision for Credit Losses up YoY and QoQ
Impaired provisions up in Q3/23, largely due to higher impairments
in business and government loans, mainly in the U.S
Performing provision in Q3/23 mainly driven by an unfavourable
change in economic outlook, specifically around debt service ratio
for our retail portfolio and deteriorating economic conditions in the
U.S., along with expected negative credit migration within our retail
portfolios
($ MM)
Q3/22
Q2/23
Q3/23
Canadian Personal & Business Banking
Impaired
200
123
423
136
231
244
Performing
64
(108)
179
Canadian Commercial Banking & Wealth
Impaired
10
46
40
9
33
38
Performing
1
13
2
U.S. Commercial Banking & Wealth
Impaired
35
24
255
15
100
174
Provision for Credit Losses Ratio¹
0.54%
Performing
20
148
81
Capital Markets
(9)
19
6
0.34%
Impaired
(15)
4
5
0.19%
0.35%
0.29%
Performing
(6)
15
1
Corporate & Other
7
2
12
0.12%
Impaired
11
11
17
258
Performing
(4)
(9)
(5)
59
478
87
379
156
Total PCL
Impaired
Performing
243
438
736
156
379
478
87
59
258
Q3/22
Q2/23
Q3/23
PCL on Impaired
Impaired PCL Ratio 1
PCL on Performing
Total PCL Ratio
Endnotes are included on slides 46 to 51.
CIBC◇
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Third Quarter, 2023View entire presentation