Canadian Banking and Mortgage Portfolio Overview
Global Wealth Management
Financial Performance
$MM, except AUM/AUA Q1/20
Y/Y
Q/Q
Reported
.
Net Income¹
$306
+12%
+2%
.
Pre-Tax, Pre Provision Profit
$420
+12%
+4%
Revenue
$1,157
+5%
+1%
Expenses
$737
+2%
(1%)
PCLS
$1
(50%)
N/A
Productivity Ratio
63.7%
(210 bps)
(110 bps)
•
Adjusted Expenses up 2%²
AUM ($B)
$298
+6%
(1%)
YEAR-OVER-YEAR HIGHLIGHTS
Adjusted Net Income up 11%²
Revenue up 5%
o Up 7% excluding impact of divestitures
o Strong AUA/AUM growth
o Solid brokerage revenue growth
。 Volume related expense growth
AUA($B)
$497
+7%
Adjusted²
Net Income¹
$318
+11%
+1%
Pre-Tax, Pre Provision Profit
$435
+11%
+3%
Expenses
$722
+2%
PCLs
N/A
N/A
Productivity Ratio
62.4%
(180 bps)
(70 bps)
•
Positive adjusted operating leverage of 3%²
•
Improved industry leading productivity ratio²
Strong AUM growth of 6% and AUA growth of 7%
。 Market appreciation
o Positive net sales in Mutual Funds
ADJUSTED NET INCOME ¹² ($MM) AND ROE² (%)
12.3%
13.5%
13.5%
13.6%
13.7%
286
303
313
314
318
1 Attributable to equity holders of the Bank
2 Adjusted for Acquisition-related costs and impact of additional pessimistic scenario
Q1/19
Q2/19
Q3/19
Q4/19
Q1/20
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