Investor Presentaiton
Q4 2016 Financial Performance
$ millions, except EPS
Q4/16
Q/Q
Y/Y
Net Income
$2,011
+3%
+9%
.
Diluted EPS
$1.57
+2%
+8%
.
Revenues
$6,751
+2%
+10%
Expenses
$3,650 +4%
+11%
Productivity Ratio
54.1%
+130bps +50bps
Core Banking Margin 2.40% +2bps +5bps
Dividends Per Common Share
•
+$0.02
+$0.02
$0.74
$0.72 $0.72
$0.70
$0.70
Q4/15
Q1/16
Q2/16
Q3/16
Q4/16
Announced dividend increase
·
(1)
Adjusting for Q2/16 restructuring charge of $278 million after-tax ($378 million before-tax)
6
Year-over-Year Highlights
Diluted EPS growth of 8%
Revenue growth of 10%
•
Asset growth across all business lines
.
•
Higher banking fees, wealth
management and trading revenues,
underwriting and advisory fee and
income from associated corporations
Gains on sale of real estate were more
than offset by lower net gains on
investment securities
Expense growth up 11%
⚫ Adjusting for the impact of acquisitions,
foreign currency translation and Q4/15
net pension credit/reorganization cost,
non-interest expenses were up 5%
.
Higher performance and stock based
compensation and continued
investments in the business, including
technology, partly offset by savings from
structural cost reductions
Operating leverage of 1.0% in 2016
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