Consistent Earnings Growth and Digital Engagement
Wholesale Banking
Solid performance reflects strength of diversified business model
Net income down 38% YoY (Adj 20 down 35% YoY)
Revenue up 1% YoY
Higher global transaction banking, trading-related,
and lending revenue, partially offset by lower
underwriting revenue and loan underwriting
commitments markdowns
PCL of $26MM
Expenses up 22% YoY (Adj20 up 19% YoY)
■
Reported expenses include acquisition and
integration-related charges primarily for Cowen
acquisition
Continued investments in Wholesale Banking's U.S.
dollar strategy, including the hiring of banking, sales
and trading, and technology professionals, timing of
employee-related costs, and impact of FX
PCL
TD
P&L ($MM)
Reported
Q4/22
QoQ
YOY
Revenue
1,159
8%
1%
Trading-related revenue
(TEB)8,45
560
2%
10%
26
+$1
+$103
Expenses
802
16%
22%
Net Income
261
(4%)
(38%)
ROE
8.2%
-70 bps
-1,040 bps
Adjusted 20
Q4/22
QoQ
YOY
Expenses
784
13%
19%
Net Income
275
1%
(35%)
ROE
8.6%
-30 bps
-1,000 bps
Line of Business Revenues ($MM)
Reported
Q4/22
QoQ
YOY
Global Markets
663
10%
2%
Corporate and Investment
473
14%
0%
Banking
Other
22
(61%)
(17%)
Earnings ($MM)
$420
$434
$359
$271
$261
Q4/21
Q1/22
24
Q2/22
Q3/22
Q4/22
24View entire presentation