Investor Presentaiton
Canadian Banking
$MM
Q4/22
Y/Y
Q/Q
Reported
Net Income¹
$1,170
(5%)
(4%)
Pre-Tax, Pre-Provision Profit²
$1,737
10%
Revenue
$3,134
11%
Expenses
$1,397
12%
PCLS
$163
nmf
1%
74%
Productivity Ratio³
44.6%
40 bps
20 bps
Net Interest Margin4
2.26%
6 bps
(3 bps)
PCL Ratio³
15 bps
25 bps
6 bps
PCL Ratio on Impaired Loans³
14 bps
4 bps
1 bp
Adjusted4
Net Income¹
$1,174
(5%)
(4%)
Pre-Tax, Pre-Provision Profit
$1,743
10%
Expenses
$1,391
12%
1%
Productivity Ratio 44.4%
40 bps
20 bps
REPORTED NET INCOME¹ ($MM) AND NIM (%)
2.20%
2.19%
2.22%
2.29%
2.26%
1,238
1,201
1,179
1,213
1,170
Q4/21
Q1/22
Q2/22
Q3/22
Q4/22
1 Attributable to equity holders of the Bank
YEAR-OVER-YEAR HIGHLIGHTS
Net income down 5%
o Pre-tax, pre-provision profit up 10%
o Higher PCLS reflect less favourable macroeconomic
outlook and allowance releases in the prior year
Revenue up 11%
。 Net interest income up 13%
o Strong loan and deposit growth
o Margin expansion
。 Non-interest revenue up 3%
NIM up 6 bps but down 3 bps Q/Q
o Q/Q decline due primarily to lower loan spreads
partially offset by higher deposit spreads
Expenses up 12%
o Higher technology and personnel costs
Adjusted FY22 operating leverage³,4 of +1.5%
(Reported +1.6%)
Loan growth of 12%
o Business loans up 25%
o Residential mortgages up 11%
Deposit growth of 7%
o Personal deposits up 8%
o Non-personal deposits up 6%
2 Pre-Tax, Pre-Provision Profit defined as revenues less expenses. See non-GAAP reconciliations beginning on slide 43
3 Refer to page 133 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation
is incorporated by reference hereto
4 Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com
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