Investor Presentaiton
Q1 2023 Financial Performance
$MM, except EPS
Q1/23
Y/Y
Q/Q
Reported
Net Income
$1,772
(35%)
(15%)
Pre-Tax, Pre-Provision Profit¹
$3,516
(8%)
14%
Diluted EPS
$1.36
(36%)
(17%)
Revenue
$7,980
(1%)
5%
Expenses
$4,464
6%
(1%)
Productivity Ratio²
55.9%
340 bps
Net Interest Margin³
2.11%
(5 bps)
(350 bps)
(7 bps)
PCL Ratio²
33 bps
20 bps
5 bps
PCL Ratio on Impaired Loans²
29 bps
5 bps
Return on Equity²
9.9%
(590 bps)
3 bps
(200 bps)
Adjusted³
Net Income
$2,366
(14%)
(10%)
Pre-Tax, Pre-Provision Profit
$3,537
(8%)
(4%)
•
Diluted EPS
$1.85
(14%)
(10%)
Revenue
$7,980
(1%)
Expenses
$4,443
6%
Productivity Ratio
55.7%
350 bps
Return on Equity
13.4%
(250 bps)
4%
200 bps
(160 bps)
.
REPORTED NET INCOME YEAR-OVER-YEAR ($MM)
YEAR-OVER-YEAR HIGHLIGHTS
Adjusted EPS down 14% (reported down 36%)
o Reported earnings includes the impact of the
Canada Recovery Dividend
Adjusted pre-tax, pre-provision profit down 8%
Revenue down 1%
。 Net interest income up 5%, due primarily to strong
asset growth across all business lines
。 Non-interest income down 8% mainly due to lower
wealth management revenues and underwriting
and advisory fees
NIM down 5 bps (down 7 bps Q/Q)
o Higher funding costs offset by higher margins in
Canadian Banking and International Banking
Expenses up 6%
o Unfavourable FX translation combined with higher
personnel costs driven by inflation, and technology
costs to support business growth
PCL ratio is in line with outlook
REPORTED NET INCOME4 BY BUSINESS SEGMENT ($MM)
225
-9%
(294)
(416)
■■Q1/22 Q1/23
+18%
(241)
- -7%
(242)
- -7% ->
2,740
1,201 1,087
1,772
412
561
519
555
654
385
Q1/22
Net interest Non-interest
Income
PCLS
income
Non-interest Taxes
expenses
Q1/23
Canadian Banking
Global Wealth
Management
Global Banking and
Markets
International
Banking
(Constant FX)
1 Pre-Tax, Pre-Provision Profit defined as revenues less expenses. See non-GAAP reconciliations beginning on slide 41
2 Refer to page 50 of the Management's Discussion & Analysis in the Bank's First Quarter 2023 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the
measure. Such explanation is incorporated by reference hereto
3 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's First Quarter 2023 Report to Shareholders, available on http://www.sedar.com
4 Attributable to equity holders of the Bank
5View entire presentation