Third Quarter 2023 Financial Results Overview
Corporate & Other
PPPT impacted by expense growth and a pressured revenue environment
Revenue lower YoY and sequentially
Reported
Adjusted²
•
Net interest income lower due to favourable
Treasury-related revenues in the prior year
•
•
International Banking up 29% YoY,
benefitting from margin expansion and FX
translation impacts
Reported expenses up 14% YoY and 78% QoQ
Excluding impact of the amortization of
acquisition-related intangible assets:
Adjusted expenses² up 14% and 8%
QoQ, mainly due to the timing of
investments, employee-related (including
severance), and inflationary costs
($MM)
Revenue¹
Q3/23
YOY QoQ
67 ($42) ($9)
Q3/23
YOY
QoQ
67
($42)
($9)
Net Interest Income
(43)
$7
($23)
(43)
$7
($23)
Non-Interest Income
110
($49)
$14
110
($49)
$14
Expenses
312
$39 $137
309
$39
$23
PPPT3
(245)
Provision for Credit Losses
12
Net Income
(101)
($81) ($146)
$5
($48) ($148)
(242) ($81)
($32)
$10
12
$5
$10
(98)
($48)
($65)
Endnotes are included on slides 46 to 51.
CIBC◇
Third Quarter, 2023
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