First Quarter 2022 Financial Results
U.S. Commercial Banking & Wealth Management (C$)
Reported (C$MM)
Revenue
•
Q1/22
YOY
609
9%
QoQ
8%
Net interest income
389
4%
6%
Non-interest income
220
18%
13%
•
Non-Interest Expenses
318
14%
7%
•
Provision for (reversal of) Credit Losses
28
(38%)
$79
Net Income
226
20%
(12%)
Adjusted (C$MM)
Q1/22
YOY
QoQ
Revenue
609
9%
8%
Net interest income
389
4%
6%
Non-interest income
220
18%
13%
Non-Interest Expenses
301
14%
8%
•
Pre-Provision, Pre-Tax Earnings²
308
3%
9%
.
Provision for (reversal of) Credit Losses
28
(38%)
$79
Net Income
239
20%
(11%)
Loans and Deposits - Average (C$B)
353
348
345
Net interest income up 4%, reflecting continued strength in client acquisition and
franchising
•
Loan balances up 7% YoY
Deposit balances up 9% YoY
NIM down 8 bps YoY and 3 bps QoQ
Non-interest income up 18% YoY
Growth in AUA and AUM of 17% and 15%, respectively, benefiting from market
appreciation and strong client flows
Increased commercial banking fees related to credit and treasury services
Adjusted expenses up 14% YoY driven by ongoing investments in our infrastructure
and people, and higher performance-based compensation
Provision for Credit Losses:
Total PCL ratio of 25 bps
PCL ratio on impaired of 27 bps
Wealth Management (C$B)
125
125
42
41
42
43
45
45
106
96
97
85
Q1/21
Loans³
Q4/21
Q1/22
Deposits
Net Interest Margin (bps)
1 Adjusted results are non-GAAP financial measures. See slide 37 for further details.
CIBC
2 Pre-provision earnings is revenue net of non-interest expenses and is a non-GAAP measure. See slide 37 for further details.
3 Loan amounts are stated before any related allowances or purchase accounting adjustments.
Q1/21
Q4/21
Q1/22
¡AUA⭑■ AUM4
4 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.
First Quarter, 2022
29View entire presentation