Fourth Quarter, 2023 Financial Overview
Endnotes
Fourth quarter and fiscal 2023
Slide 15 Non-Interest Expenses
1.
Adjusted results are non-GAAP measures. See slide 67 for further details.
2.
Investments include incremental costs associated with front-line hires related to growth initiatives, investments in enterprise initiatives, investments in infrastructure in the U.S., and other growth initiatives..
Slide 16 Capital & Liquidity
1.
2.
3.
4.
Average balances, where applicable, are calculated as a weighted average of daily closing balances.
RWA and our capital balances and ratios are calculated pursuant to OSFI's CAR Guideline, the leverage ratio is calculated pursuant to OSFI's Leverage Requirements Guideline, LCR, HQLA and NSFR
are calculated pursuant to OSFI's LAR Guideline, all of which are based on BCBS standards. For additional information, see the "Capital management" and "Liquidity risk" sections in the 2023 Annual
Report available on SEDAR+ at www.sedarplus.ca.
In October 2023, we obtained approval from OSFI to apply the IRB approach for the majority of our credit portfolios within CIBC Bank USA, which we expect to apply in the first quarter of 2024.
In addition to the impact of applying the IRB approach to certain credit portfolios within CIBC Bank USA, the estimate includes the impacts of the revised CVA and market risk frameworks as well the
increased capital requirement relating to mortgages in negative amortization with a loan-to-value ratio above 65%.
Slide 17 Canadian Banking: Personal & Business Banking
3.
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Adjusted results are non-GAAP measures. See slide 67 for further details.
Adjusted results are non-GAAP measures. See slide 67 for further details. For further details on the composition of the measure, see note 5 on slide 68.
Pre-provision, pre-tax earnings is revenue net of non-interest expenses and is a non-GAAP measure. See slide 67 for further details.
Loan amounts are stated before any related allowance.
Average balances are calculated as a weighted average of daily closing balances.
Includes net client acquisition from Personal and Business Banking over the last twelve months (LTM) - Nov/22 to Oct/23.
7. Reflects financial transactions only.
Slide 18 Canadian Banking: Commercial Banking & Wealth Management
Pre-provision, pre-tax earnings is revenue net of non-interest expenses and is a non-GAAP measure. See slide 67 for further details.
Comprises loans and acceptances and notional amount of letters of credit. Loan amounts are stated before any related allowances.
1.
Adjusted results are non-GAAP measures. See slide 67 for further details.
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2.
3.
4.
6.
7.
Commercial Banking only. Average balances are calculated as a weighted average of daily closing balances. Loan and deposit growth is calculated using average balances.
Assets under management (AUM) are included in assets under administration (AUA).
For additional information on the composition, see the "Glossary" section on pages 101-107 in the 2023 Annual Report, available on SEDAR+ at www.sedarplus.ca.
Referrals represent funds managed related to existing Canadian Commercial and Wealth clients that have developed a new relationship within Canadian Wealth Management. Funds managed include
loans (before any related allowances), deposits and GICs, and investments. We believe that funds managed provide the reader with a better understanding of how management assesses the size of our
total client relationships.
Slide 19 U.S. Region: Commercial Banking & Wealth Management
Pre-provision, pre-tax earnings is revenue net of non-interest expenses and is a non-GAAP measure. See slide 67 for further details.
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1.
Adjusted results are non-GAAP measures. See slide 67 for further details.
2.
3.
Loan amounts are stated before any related allowances or purchase accounting adjustments.
4.
5.
6.
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7.
Average balances are calculated as a weighted average of daily closing balances.
Assets under management (AUM) are included in assets under administration (AUA). Includes certain Canadian Commercial Banking and Wealth Management assets that U.S. Commercial Banking and
Wealth Management provides sub-advisory services for.
Metric refers to referrals made across lines of business (LOB) within the US Commercial and Wealth Management segment, as well as referrals made to the Capital Markets segment.
Net flows from new clients refers to any inflows (excluding reinvested dividends) related to a client within a 12-month period of client inception.
CIBC
Fourth Quarter, 2023
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