First Quarter, 2024 Earnings Report
Endnotes
First quarter 2024
Slide 15 Canadian Banking: Commercial Banking & Wealth Management
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Adjusted results are non-GAAP measures. See slide 55 for further details.
Pre-provision, pre-tax earnings is revenue net of non-interest expenses and is a non-GAAP measure. See slide 55 for further details.
Comprises loans and acceptances and notional amount of letters of credit. Loan amounts are stated before any related allowances.
Commercial Banking only. Average balances are calculated as a weighted average of daily closing balances. Loan and deposit growth is calculated using average balances.
Assets under management (AUM) are included in assets under administration (AUA).
For additional information on the composition, see the "Glossary" section on pages 41-47 in the Q1/24 Report to Shareholders, available on SEDAR+ at www.sedarplus.com.
Annual net flows are calculated based on net investment sales from Private Wealth Management, including the impact of reinvested income, as a percentage of Private Wealth Management assets under administration. Assets under management (AUM) are included in assets
under administration (AUA). For additional information on the composition of AUM and AUA, see the "Glossary" section on pages 41-47 in the Q1/24 Report to Shareholders, available on SEDAR+ at www.sedarplus.com. The YTD balance is adjusted for the number of days to
determine the annualized number.
Referrals represent funds managed related to existing Canadian Commercial and Wealth clients that have developed a new relationship within Canadian Wealth Management. Funds managed include loans (before any related allowances), deposits and GICs, and investments.
We believe that funds managed provide the reader with a better understanding of how management assesses the size of our total client relationships.
Slide 16-U.S. Region: Commercial Banking & Wealth Management
1. Adjusted results are non-GAAP measures. See slide 55 for further details.
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Pre-provision, pre-tax earnings is revenue net of non-interest expenses and is a non-GAAP measure. See slide 55 for further details.
Loan amounts are stated before any related allowances or purchase accounting adjustments.
Average balances are calculated as a weighted average of daily closing balances.
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.
Net flows from new clients refers to any inflows (excluding reinvested dividends) related to a client within a 12-month period of client inception.
Metric refers to the number of referrals made across lines of business (LOB) within the US Commercial and Wealth Management segment, as well as referrals made to the Capital Markets segment.
Slide 17 Capital Markets & Direct Financial Services
Adjusted results are non-GAAP measures. See slide 55 for further details.
Revenue is reported on a taxable equivalent basis (TEB). TEB adjustment in Q1/24 was $68 million, and the adjusted TEB adjustment in Q1/24 was $16MM.
Pre-provision, pre-tax earnings is revenue net of non-interest expenses and is a non-GAAP measure. See slide 55 for further details.
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Loan amounts are before any related allowances.
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Average balances are calculated as a weighted average of daily closing balances.
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Includes net client acquisition from Simplii Financial over the last twelve months (LTM) - Feb/23 to Jan/24.
Slide 18 Corporate & Other
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Adjusted results are non-GAAP measures. See slide 55 for further details.
Revenue is reported on a taxable equivalent basis (TEB). TEB adjustment in Q1/24 was $68 million, and the adjusted TEB adjustment in Q1/24 was $16MM.
Pre-provision, pre-tax earnings is revenue net of non-interest expenses and is a non-GAAP measure. See slide 55 for further details.
Slide 22 - Allowance for Credit Losses
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See note 13 on slide 57.
Slide 23 Credit Performance - Gross Impaired Loans
Includes wealth management loans under Canadian Commercial Banking and Wealth Management
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See notes 16-17 on slide 57.
Excludes CIBC FirstCaribbean business & government loans.
CIBCâ—‡
First Quarter, 2024
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