Investor Presentation Fourth Quarter 2020
2020 Financial Results
Reported ($MM)
Revenue
Net interest income
FY20
YOY
18,741
1%
11,044
5%
Non-interest income
7,697
(5%)
Non-Interest Expenses
11,362
5%
Provision for Credit Losses
2,489
94%
Net Income
3,792
(26%)
Diluted EPS
$8.22
(27%)
•
Efficiency Ratio
ROE
CET1 Ratio
60.6%
230 bps
10.0%
(450) bps
12.1%
56 bps
•
Adjusted¹ ($MM)
FY20
YOY
Revenue
18,741
1%
Net interest income
11,044
6%
Non-interest income
7,697
(5%)
Non-Interest Expenses
10,565
2%
•
Pre-Provision Earnings²
8,176
0%
Provision for Credit Losses
2,489
94%
Net Income
4,447
(18%)
Diluted EPS
$9.69
(19%)
Efficiency Ratio (TEB)
55.8%
30 bps
ROE
11.7%
(370) bps
CIBC
2
1 Adjusted results are non-GAAP financial measures. See slide 38 for further details.
Pre-provision earnings is revenue net of non-interest expenses and is a non-GAAP measure. See slide 38 for further details.
•
Overall Performance - Adjusted¹
Record pre-provision earnings despite a challenging economic environment and
revenue headwinds
Operating leverage of -0.6%
Revenue growth of 1%
Net interest income up 6% YoY
Record trading activity in Capital Markets
Solid balance growth in Canada and the U.S., particularly in deposits
Offset by the impact of the rate environment
Non-interest income down 5% YoY primarily due to lower consumer activity
Expense growth contained to 2%
Strong focus on managing expenses to adapt to the current environment, while
continuing to invest and grow our business
Elevated PCL moderating in back half of the year
Total PCL ratio of 61 bps, up 28 bps YoY
PCL ratio on impaired of 26 bps, down 3 bps YoY
Fourth Quarter, 2020 15View entire presentation