Fourth Quarter, 2023 Financial Overview
U.S. Commercial Real Estate
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Office Portfolio
Progress made as we work through maturity profile
•
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The US Office portfolio is less than 1% of total loan exposure and is 20% of overall U.S. Commercial Real Estate
48% of the portfolio is Class A; average loan-to-value at origination was 60%; 50% of the portfolio is Suburban, 19% Urban, 30% Central
Business District
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As of Q4/23 we had 9.1% allowance for credit loss coverage of loans, with a net charge-off ratio of 2.7% for the quarter
$2.4
$2.1B
$2.0
$1.6
Maturity Breakdown for FY24-FY27+ in US$B
$1.3B
$1.2
$0.8
$0.4
$-
$1B
$0.3B
$0.3B
FY23 as of Q4/22
FY24
FY25
FY26
FY27+
Total Maturity Profile
Extended from FY23
Existing Contractual Maturity
CIBC◇
Excludes $0.8B of non-accruals and extensions being considered
Fourth Quarter, 2023
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