Consistent Earnings Growth and Digital Engagement
U.S. Retail (US$)
Strong results supported by broad-based growth in its businesses
Net income up 7% YoY (Adj²º up 10% YoY)
Revenue up 22% YoY
Higher deposit margins and volumes and higher
earnings on investments, partially offset by lower
income from PPP and lower loan margins
■
Personal loans up 10%
Business loans flat, or up 5% ex-PPP loans
Deposits flat, or up 3% excl. sweeps; gained market
share in footprint in personal deposits
NIM20,43 of 3.13%
Up 51 bps QoQ; and up 52 bps QoQ ex. PPP
Up 92 bps YoY; and up 107 bps YoY ex. PPP
PCL of $169MM
Expenses up 15% YoY (Adj 20 up 11% YoY)
Reported expenses include acquisition/integration-
related costs for First Horizon44
Revenue
PCL
Impaired
TD
P&L (US$MM) (except where noted)
Reported
Q4/22
QoQ
YOY
2,699
12%
22%
169
+$86
+$231
125
+$20
+$72
Performing
Expenses
44
+$66
+$159
1,482
11%
15%
U.S. Retail Bank Net Income
926
3%
3%
Schwab Equity Pickup
237
5%
22%
Net Income
1,163
4%
7%
Net Income (C$MM)
1,539
7%
12%
ROE
15.4%
+60 bps
+90 bps
Adjusted 20
Q4/22
QoQ
YOY
Expenses
1,432
9%
11%
U.S. Retail Bank Net Income
963
5%
7%
Net Income
1,200
5%
10%
Net Income (C$MM)
1,590
9%
16%
ROE
15.8%
+80 bps
+130 bps
Earnings (US$MM)
Higher employee-related expenses and business
investments
$1,092
$1,122
$1,163
$1,006
$1,079
Reported and adjusted efficiency ratios of 54.9% and
53.1% respectively
Q4/21
Q1/22
Q2/22
Q3/22
Q4/22
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