Fourth Quarter 2022 Financial Highlights
Personal & Business Banking
Diversified business mix and market share gains reflected in strong revenue growth
•
•
Net interest income increase of 12% YoY driven by
strong volume growth (11% on an adjusted basis²)
Loan balances up 10% (9% excl. co-brand card
acquisition)
•
Deposit balances up 10%
Expenses up 14% YoY
•
•
Reported expenses include transaction and integration
costs related to the acquisition of the co-brand credit
card portfolio and the amortization of intangible assets
Adjusted expenses² up 13% driven by higher spend
on strategic initiatives and employee-related
compensation (9% excl. co-brand card acquisition)
Provision for Credit Losses:
•
•
Total PCL ratio of 39 bps
PCL ratio on impaired of 20 bps
F22 Key Highlights
12% / 9%
Loan & Deposit Growth 3,4
Above market growth5
Adjusted²
($MM)
Revenue
Reported
Q4/22 YOY
QoQ Q4/22 YOY QoQ
2,262
Net interest income
Non-interest income
1,720
12%
6% (3%)
(3%)
2,256
6% (3%)
1,714
11% (3%)
542
(8%) (2%)
542
(8%)
(2%)
Expenses
1,313
14%
0%
1,288
13%
3%
PPPT1
949
(3%)
(6%)
968
(2%) (9%)
Provision for Credit Losses
305
86% 53%
305
86% 53%
Net Income
471
(21%) (21%)
485
(20%)
(24%)
Loans (Average, $B)³
312
10%
2%
312
10%
2%
Deposits (Average, $B)
212
10%
3%
212
10%
3%
Net Interest Margin (bps)
219
2
(10)
219
2
(9)
+358K/38% 6
Net New Clients / Affluent
Strongest YoY growth since 2017
2nd
for Client Experience
J.D. Power Client Satisfaction Survey
1
Pre-provision, pre-tax earnings is revenue net of non-interest expenses and is a non-GAAP measure. See slide 43 for further details.
Adjusted results are non-GAAP measures. See slides 43-45 for further details.
Loan and deposit growth is calculated using average balances. Average balances are calculated as a weighted average of daily closing balances.
2
3
Loan amounts are stated before any related allowances
4
5
6
Based on a comparison to the Big 6 Canadian banks per data published by the Office of the Superintendent of Financial Institutions (OSFI) as of Sept/22.
Excluding the acquisition of the Canadian (Costco) co-brand credit card portfolio.
CIBC◇
Fourth Quarter, 2022
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