First Quarter 2022 Financial Results
Personal & Business Banking – continued momentum reflected in double-digit PPPT¹ growth
Reported ($MM)
-
Net interest income increase of 7% driven by continued strong volume growth
NIM up 1 bp QoQ and down 10 bps YoY
Loan balances up 12% YoY
Deposit balances up 6% YoY
Double-digit growth in fee income reflecting increased client activity
•
Credit Card purchase volumes up 19% YoY
Revenue
Q1/22
2,183
YOY
QoQ
8%
3%
•
Net interest income
1,587
7%
3%
•
Non-interest income
596
10%
2%
Non-Interest Expenses
1,152
6%
0%
Provision for Credit Losses
98
81%
(40%)
Net Income
687
5%
15%
Adjusted² ($MM)
Q1/22
YOY
QoQ
Revenue
2,183
8%
3%
Net interest income
1,587
7%
3%
Non-interest income
596
10%
2%
•
Total PCL ratio of 13 bps
Non-Interest Expenses
1,139
5%
0%
•
Pre-Provision, Pre-Tax Earnings¹
PCL ratio on impaired of 14 bps
1,044
11%
6%
Provision for Credit Losses
98
81%
(40%)
Net Income
697
7%
15%
Adjusted² expense growth driven by ongoing investments in the business,
including investments associated with the acquisition of the Costco credit card
portfolio
Provision for Credit Losses:
Loans and Deposits ($B)
228
217
218
259
283
290
184
192
196
Debit and Credit Transaction Volumes, Indexed to Q1/20 (%)
Q1/21
Loans
CIBC
1
Q4/21
Deposits
Q1/22
Net Interest Margin (bps)
Pre-provision, pre-tax earnings is revenue net of non-interest expenses and is a non-GAAP measure. See slide 37 for further details.
2 Adjusted results are non-GAAP financial measures. See slide 37 for further details.
96
113
Q1/21
Q4/21
115
Q1/22
First Quarter, 2022
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