Q1 Financial Review
Client acquisition driving growth in U.S. Commercial and Wealth
.
Reported ($MM)
Revenue
Net interest income
Q1/20
YOY
QoQ
507
6%
1%
348
1%
2%
Non-interest income
159
19%
(1%)
Non-Interest Expenses
299
9%
5%
Provision for Credit Losses
15
(6%)
(12%)
Net Income
169
1%
(6%)
Adjusted¹ ($MM)
Q1/20
YOY
QoQ
Revenue
507
9%
2%
Net interest income
348
5%
4%
•
Non-interest income
159
19%
(1%)
Non-Interest Expenses
277
10%
5%
Pre-Provision Earnings²
230
7%
(0%)
Provision for Credit Losses
15
(6%)
(12%)
Net Income
185
6%
(3%)
Loans and Deposits - Average (US$B)
331
299
302
•
Higher net interest income driven by continued momentum
in client acquisition and deepening relationships, partially
offset by YoY NIM compression
Loan balances up 18% YoY
Deposit balances up 22% YoY
NIM down 29 bps YoY and up 3 bps QoQ
Strong growth in AUM (up 20% YoY) driving higher non-
interest income
Continued investments in client-facing roles and
infrastructure to fuel growth
Provision for Credit Losses:
PCL ratio on impaired of 16 bps
Total PCL ratio of 15 bps
Wealth Management (US$B)
61
68
72
25
29
30
46
52
55
19
22
23
Q1/19
Q4/19
Q1/20
Loans³
Deposits
Q1/19
Q4/19
Q1/20
■AUA
4
■AUM 4
-Net Interest Margin - adjusted (bps)1
1 Adjusted results are non-GAAP financial measures. See slide 28 for further details.
CIBC
2
Pre-provision earnings is revenue net of non-interest expenses and is a non-GAAP measure. See slide 28 for further details.
3 Loan amounts are stated before any related allowances or purchase accounting adjustments.
4 Assets under management (AUM) are included in assets under administration (AUA).
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