Third Quarter 2023 Financial Results Overview
Non-Interest Expenses
Moderating inflation, stabilizing investment, and continued realization of efficiencies
Reported: $3,183MM
Reported: $3,307MM
YoY Expense Growth
Reported expenses up 4% YoY
Adjusted¹ expenses up 6% YoY
•
•
Relatively stable investment for future growth,
driving 1% increase on a YoY basis
Excluding investments and performance-
based compensation, adjusted¹ expense
growth of 3% due to moderating impact of
inflation and continued realization of
operational efficiencies
QoQ Expense Growth
•
Reported expenses up 5% QoQ
•
Adjusted¹ expenses grew 2% QoQ
•
Stabilizing investment spend and
•
performance-based compensation
Remaining operating cost increase largely
due to three more days in the quarter
Endnotes are included on slides 46 to 51.
CIBC
YoY ($MM)
Adjusted 3,100
+3%
+6%
41
116
3,189
(27)
....
54
3,284
Investments² Perf. Based Q3/23
Comp.
Q3/22
Operating
Costs
Net
Efficiencies
Inflation Other
Reported: $3,140MM
QoQ ($MM)
Adjusted¹
3,227
+2%
+1%
Reported: $3,307MM
5
3,284
16
36
3,263
Q2/23
Operating
Costs
Investments²
Perf. Based
Comp.
Q3/23
Third Quarter, 2023
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