Investor Presentaiton
Global Wealth Management
$MM, except AUM/AUA
Q1/23
Y/Y
Q/Q
Reported
Net Income¹
$385
(7%)
6%
Pre-Tax, Pre-Provision Profit²
•
$521
(7%)
6%
Revenue
$1,323
(7%)
3%
Expenses
$802
(7%)
1%
PCLs
$1
nmf
nmf
Productivity Ratio³
60.6%
(130 bps)
AUM ($Bn)³
$322
(7%)
4%
AUA ($Bn)³
$607
1%
5%
Adjusted 4
Net Income¹
$392
(6%)
6%
Pre-Tax, Pre-Provision Profit
$530
(7%)
6%
Expenses
$793
(7%)
1%
•
YEAR-OVER-YEAR HIGHLIGHTS
Net income down 7% (adjusted -6%)
Revenue down 7%
o Lower fee income from a decline in trading
volumes and lower AUM
。 Higher net interest income from strong Private
Banking loan growth and margin expansion
Expenses down 7%; adjusted operating
leverage³,4 +0.1% (reported flat)
o Prudent expense management
AUM down 7% and AUA up 1%
o Impacted by market depreciation
Productivity Ratio
59.9%
(10 bps)
(130 bps)
4
AUM
AUA
REPORTED NET INCOME ($MM) AND ROE
+1%
-7%
Y/Y
Y/Y
345
601
580
607
311
322
32
111
129
125
31
+16%
31
-5%
17.2%
17.5%
15.5%
15.5%
14.8%
Y/Y
412
Y/Y
-7
313
280
291
-7%
490
455
478
-2%
405
407
376
Y/Y
361
385
Y/Y
Q1/22
Q4/22
Q1/23
Canada
1 Attributable to equity holders of the Bank
Q1/22 Q4/22
International
Q1/23
Q1/22
Q2/22
Q3/22
Q4/22
Q1/23
■ Performance Fees
2 Pre-Tax, Pre-Provision Profit defined as revenues less expenses. See non-GAAP reconciliations beginning on slide 41
3 Refer to page 50 of the Management's Discussion & Analysis in the Bank's First Quarter 2023 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the
measure. Such explanation is incorporated by reference hereto
4 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's First Quarter 2023 Report to Shareholders, available on http://www.sedar.com
8View entire presentation