Q1 Financial Review
Strong earnings driven by Capital Markets
Earnings - Adjusted¹
EPS growth of 8% YoY
ROE of 16.1%
Revenue
•
•
•
.
•
Strong trading and underwriting activity in Capital Markets
Double-digit volume growth in Canadian and U.S.
Commercial businesses
Continued deposit growth, stabilization of RESL volumes
and YoY NIM expansion in Canadian Personal & Small
Business Banking
Expenses
Expense growth driven by higher performance-based
compensation and continued investments to fuel future
growth
Reported results include restructuring charge of $339MM
(after-tax: $250MM), primarily relating to employee
severance
Provision for Credit Losses (PCL)
PCL ratio on impaired of 24 bps, down 6 bps YoY and 9 bps
QoQ
Total PCL ratio of 26 bps, down 9 bps YoY and 14 bps QoQ
Reported ($MM)
Revenue
Q1/20
YOY
QoQ
•
4,855
6%
2%
•
Net interest income
2,761
6%
(1%)
Non-interest income
2,094
6%
6%
Non-Interest Expenses
3,065
11%
8%
•
Provision for Credit Losses
261
(23%)
(35%)
Net Income
1,212
3%
2%
Diluted EPS
$2.63
1%
2%
Efficiency Ratio
63.1%
260 bps
360 bps
ROE
13.1%
(70) bps
20 bps
CET1 Ratio
11.3%
4 bps
(28) bps
Adjusted¹ ($MM)
Q1/20
YOY
QoQ
Revenue
4,855
7%
3%
Net interest income
2,761
7%
1%
Non-interest income
2,094
6%
6%
Non-Interest Expenses
2,699
8%
2%
Pre-Provision Earnings²
2,156
5%
6%
Provision for Credit Losses
261
(23%)
(35%)
Net Income
1,483
9%
13%
•
Diluted EPS
$3.24
8%
14%
Efficiency Ratio
55.0%
60 bps
(100) bps
ROE
16.1%
10 bps
190 bps
CIBC
1 Adjusted results are non-GAAP financial measures. See slide 28 for further details.
2 Pre-provision earnings is revenue net of non-interest expenses and is a non-GAAP measure. See slide 28 for further details.
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