FY 2021 BALANCED APPROACH BETWEEN INVESTMENT AND COST MANAGEMENT
APPENDIX 6 | FINANCIAL MARKETS
Financial Markets Summary Results - Q4 2021
($MM, TEB)
Q4 21
Q3 21
Q4 20
QoQ
YOY
Revenues
482
520
495
(7%)
(3%)
Global Markets
267
279
281
(4%)
(5%)
C&IB
215
241
214
(11%)
Non-Interest Expenses
206
221
185
(7%)
11%
Pre-Tax/Pre-Provisions
276
299
310
(8%)
(11%)
PCL
(7)
(10)
27
Net Income
208
227
208
(8%)
FY 2021
Solid performance for FM after record revenues in
previous year
Q4 2021
■ Revenues down 3% YoY
Global Markets: Strong activity in Structured Products
offset by lower client activity in fixed income (against
strong Q4/20)
C&IB: Solid performance capping off a record year
Expenses up 11% YoY
Lower non-interest expenses in Q4/20 from
compensation adjustment
Continued investments in IT and talent
Expense level remains low, with an industry-leading
efficiency ratio
Global Markets Revenues
Other Metrics
Q4 21
Q3 21
Q4 20
QoQ
YOY
-
Avg Loans & BAS (1)
18,834
18,334
18,589
3%
1%
Efficiency Ratio (%)
42.7%
42.5%
37.4%
+20 bps +530 bps
Financial Markets Revenues
($MM)
($MM)
396
598
577
567
355
64
520
495
503 495
299
302
38
482
289
281
458 202
222
24
19
269 279
267
30
105
298
196
201
214
241
78
169
215
59
85
126
114
179
116
32
24
34
84
58
99
396
227
355
197
201
299
289
302
281
269
279
267
174
157
171
175
148
138
Q4 19 Q1 20 Q2 20 Q3 20
Q4 20 Q1 21
Q2 21 Q3 21 Q4 21
Q4 19
Q1 20
Q2 20
Q3 20
Q4 20 Q1 21
Global Markets
C&IB
■ Equity
Fixed income
■Commodity and Foreign exchange
Q2 21 Q3 21
Q4 21
23
(1) Corporate Banking only.View entire presentation