Canadian Housing Market Financial Analysis
Financial Performance
Strong revenue and balance sheet growth.
$MM, except EPS
Q2/19
Y/Y
Q/Q
Reported
Net Income
$2,259
+4%
+1%
Diluted EPS
$1.73
+2%
+1%
Revenue
$7,803
+11%
+3%
Expenses
$4,046
+9%
(3%)
Productivity Ratio
51.8%
(100bps) (310bps)
Core Banking Margin
2.45%
(2bps)
PCL Ratio1
61bps
+19bps
+14bps
PCL Ratio on Impaired Loans¹
49bps
+3bps
+2bps
Adjusted²
Net Income
$2,263
+3%
(1%)
Diluted EPS
$1.70
(1%)
(3%)
Revenue
$7,630
+8%
Expenses
$3,993
+8%
(3%)
Productivity Ratio
52.3%
(20bps)
PCL Ratio1
51bps
+9bps
(180bps)
+4bps
YEAR-OVER-YEAR HIGHLIGHTS
Adjusted Net Income up 3%2
Revenue up 8%²
○ Mostly relating to acquisitions
。 Net interest income up 6%
○ Non-interest income up 11%
Expenses up 8%
2
○ Mostly driven by acquisitions
o Excluding acquisitions and the impact of IFRS15,
expenses were up 1% Y/Y
o Expenses were down 3% Q/Q
PCL ratio on impaired loans¹ up 3 bps.
o In-line with 30-year historical average
DIVIDENDS PER COMMON SHARE
0.03
0.02
0.85
0.85
0.87
0.82
0.82
Q2/18
Q3/18
Q4/18
Q1/19
Q2/19
■ Announced Dividend Increase
1 Provision for credit losses on certain assets-loans, acceptances and off-balance sheet exposures
2 Adjusted for Acquisition and divestiture-related amounts, including Day 1 PCLs, integration and amortization costs related to current acquisitions, amortization of intangibles related
to current and past acquisitions and net gain on divestitures
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