First Quarter, 2024 Earnings Report
Endnotes
First quarter 2024
Slide 32 - Business Segment Trends: Personal & Commercial Banking cont'd...
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Certain additional disclosures for net interest margin on average interest-earning assets (NIM) have been incorporated by reference and can be found on pages 41-47 in the Q1/24 Report to Shareholders, available on SEDAR+ at www.sedarplus.com.
Gross inflow spread (excluding open and refinancing) represents the client rate less cost of funds. We show gross inflow spreads excluding open as open mortgages tend to be for clients that have reached end of term and not arranged for a more permanent renewal, are outstanding
for a short period of time, have much higher rates and hence, spreads than the rest of the portfolio originations. We show ex-refinancing as refinancing mortgages may have blended client rates without directly offsetting changes in our measurement for cost of funds.
Average balances are calculated as a weighted average of daily closing balances.
Average loans and acceptances, before any related allowances.
Asset base represents residential mortgage, personal lending and credit card balances for Canadian Personal and Business Banking and Canadian Commercial Banking, as well as Simplii Financial and CIBC Investor's Edge, in Capital Markets. Deposit base represents client
deposits for Canadian Personal and Business Banking and Canadian Commercial Banking, as well as Simplii Financial and CIBC Investor's Edge, in Capital Markets. Reflects spot balances as of the respective period ends.
Slide 33 Business Segment Trends: U.S. Region: Commercial Banking & Wealth Management
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Adjusted results are non-GAAP measures. See slide 55 for further details.
Certain additional disclosures for net interest margin on average interest-earning assets (NIM) have been incorporated by reference and can be found on pages 41-47 in the Q1/24 Report to Shareholders, available on SEDAR+ at www.sedarplus.com.
Loan amounts are stated before any related allowances or purchase accounting adjustments.
Average balances are calculated as a weighted average of daily closing balances.
Assets under management (AUM) are included in assets under administration (AUA). Includes certain Canadian Commercial Banking and Wealth Management assets that U.S. Commercial Banking and Wealth Management provides sub-advisory services for.
For additional information on the composition, see the "Glossary" section on pages 41-47 in the Q1/24 Report to Shareholders, available on SEDAR+ at www.sedarplus.com.
Represents the percentage of U.S. Commercial clients, at the household level, that also have a relationship with US Private Wealth Management and Private Banking.
Net flows from new clients refers to any inflows (excluding reinvested dividends) related to a client within a 12-month period of client inception.
Slide 34 Business Segment Trends: Capital Markets & Direct Financial Services
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Revenue is reported on a taxable equivalent basis (TEB). TEB adjustment in Q1/24 was $68 million, and the adjusted TEB adjustment in Q1/24 was $16MM.
Adjusted results are non-GAAP measures. See slide 55 for further details.
Adjusted results are non-GAAP measures. See slide 55 for further details. For further details on the composition of the measure, see slide 48 for a reconciliation.
Loan amounts are before any related allowances.
Average balances are calculated as a weighted average of daily closing balances.
Slide 35 Funding & Liquidity
1. TLAC is calculated pursuant to OSFI's TLAC Guideline, which is based on BCBS standards. For additional information, see the "Capital Management" section in Q1/24 Report to Shareholders, available on SEDAR+ at www.sedarplus.com.
Slide 36 Interest Rate Sensitivity
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A number of assumptions are used to measure Structural Interest Rate Sensitivity. For additional information, see the "Market risk” Non-trading activities section on page 32 in the Q1/24 Report to Shareholders, available on SEDAR+ at www.sedarplus.com.
SBU allocation includes the structural repricing exposure arising from our capital and zero/partially rate sensitive deposits and excludes exposure from other short-term factors such as rate resets and position management.
Source: Bloomberg, February 12, 2024.
Slide 37 Provision for Credit Losses (PCL)
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See notes 9 and 10 on slide 56.
Slide 38 Allowance Coverage
Capital Markets excludes allowance for credit losses related to Simplii Financial which is included in the respective Canadian retail products.
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See notes 13-15 on slide 57.
Slide 39 Credit Portfolio Breakdown
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LTV ratios for residential mortgages are calculated based on weighted average. See page 27 of the Q1/24 Report to Shareholders, available on SEDAR+ at www.sedarplus.com for further details.
GVA and GTA definitions based on regional mappings from Teranet.
Incorporates security pledged; equivalent to S&P/Moody's rating of BBB/Baa2.
CIBC
First Quarter, 2024
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