Fourth Quarter, 2023 Financial Overview
Allowance for Credit Losses
Allowances for credit losses continued to increase
Our total provision for credit losses was $541MM in Q4/23, compared to $736MM last quarter
.
•
Provision on impaired loans was $478MM, flat QoQ
• Impaired provision was attributable to both retail and business and government loan portfolios
Our performing provision in Q4/23 was driven by updates to our forward-looking information assumptions, credit migration, routine model
parameter updates and portfolio growth
Total allowance coverage increased from 73bps in Q3 to 76bps this quarter
Allowance for Credit Losses ($MM) - Q4/23 Movements
Allowance Coverage 1
62bps
Endnotes are included on slides 58 to 66.
CIBC◇
73bps
+1bps
+4bps
+4bps
-6bps
76bps
QoQ increase (+3bps)
218
260
4,117
3,936
63
(360)
3,276
Impaired Provisions
$478MM
Q4/22
Allowance
Q3/23
Allowance
Performing
Provisions
Impaired
Provisions
Retail
Impaired
Provisions -
B&G
Net Write-offs,
Time Value of
Money Provision
& FX
Q4/23
Allowance
Fourth Quarter, 2023
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