Investor Presentaiton
International Banking
Constant dollar basis 1,5
$MM
Q4/22 Q4/21
Y/Y1
Q3/22
Q/Q¹
•
Reported
•
Net Income²
$643
$515
25%
$621
4%
•
Pre-Tax, Pre-Provision
$1,140
$1,044
9%
$1,115
2%
Profit³
Revenue
$2,504
$2,322
8%
$2,426
3%
Expenses
$1,364
$1,278
7%
$1,311
4%
PCLS
$355
$323
10%
$328
8%
Productivity Ratio4
54.5%
54.3%
20 bps
53.5%
100 bps
Net Interest Margin 5,6
4.08%
3.78%
30 bps
3.95%
13 bps
•
PCL Ratio4
89 bps
91 bps
(2 bps)
84 bps
5 bps
PCL Ratio Impaired Loans4
81 bps
118 bps
(37 bps)
68 bps
13 bps
•
Adjusted5
Net Income²
$650
$521
25%
$628
4%
Pre-Tax, Pre-Provision
$1,149
$1,054
9%
$1,124
2%
•
Profit
Expenses
$1,355
$1,268
7%
Productivity Ratio
54.1%
53.9%
20 bps
$1,302
53.2%
4%
90 bps
•
YEAR-OVER-YEAR HIGHLIGHTS1
Net income² up 25% (up 4% Q/Q)
Pre-tax, pre-provision profit up 9%
Revenue up 8%
o Net interest income up 11%, driven by strong loan
growth and margin expansion
o Non-interest income was stable as higher banking fees
(+6%) was offset by lower securities and investment
gains
Expenses up 7%; adjusted FY22 operating leverage 4,5 of
+1.8% (reported +1.9%)
NIM up 13 bps Q/Q
o Asset repricing faster than the increase in funding costs
and changes in deposit mix
Loans up 12% (up 2% Q/Q)
。 Mortgages up 16% Y/Y and commercial up 12% Y/Y
o Retail loans up 3% Q/Q and commercial up 2% Q/Q
PCLs up 10%, PCL ratio down 2 bps
REPORTED NET INCOME² ($MM) AND NIM6 (%)
3.78%
3.87%
3.96%
3.95%
4.08%
515
544
588
621
643
1 Y/Y and Q/Q growth rates (%) are on a constant dollar basis, while metrics and change in bps are on a reported basis
2 Attributable to equity holders of the Bank, on a constant dollar basis
Q4/21
Q1/22
Q2/22
Q3/22
Q4/22
3 Pre-Tax, Pre-Provision Profit defined as revenues less expenses. See non-GAAP reconciliations beginning on slide 43
4 Refer to page 133 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation
is incorporated by reference hereto
11
5 Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com
6 Prior period has been restated to include as a deduction non-interest bearing deposits with banks, to align with the Bank's definitionView entire presentation