Canadian Personal Banking Digital Transformation
U.S. Commercial Banking & Wealth Management (US$)
Reported (US$MM)
Revenue
Net interest income
Non-interest income
(4%)
15%
(6%)
(27%)
NM
•
Continued success in expanding market share and deepening relationships with
existing client base helped to offset net interest margin pressure
.
•
Loan balances up 19% YoY; up 12% excluding PPP loans
Deposit balances up 36% YoY
Adjusted¹ NIM down 48 bps YoY and 29 bps QoQ
Solid growth in non-interest income YoY despite ongoing market impact on Asset
Management fees and slowdown in syndication activity
Q3/20
YOY
QoQ
379
(1%)
1%
262
(3%)
117
2%
Non-Interest Expenses
199
(6%)
Provision for Credit Losses
121
NM
Net Income
44
(66%)
Adjusted¹ (US$MM)
Revenue
Net interest income
Non-interest income
Non-Interest Expenses
Pre-Provision Earnings²
Q3/20
YOY
QoQ
•
379
0%
1%
262
(0%)
(4%)
117
2%
15%
•
183
(6%)
(7%)
196
7%
10%
Provision for Credit Losses
Net Income
121
NM
(27%)
55
(60%)
NM
•
Expenses down 6% YoY primarily driven by reduced business development spend
Provision for Credit Losses:
.
Total PCL ratio of 145 bps
PCL ratio on impaired of 38 bps
Loans and Deposits - Average (US$B)
CIBC
324
305
276
2
Wealth Management (US$B)
28
30
31
68
67
74
25
28
51
51
56
21
Q3/19
Loans³
PPP Loans
Q2/20
Deposits
Q3/20
NIM -adjusted (bps)1
1 Adjusted results are non-GAAP financial measures. See slide 36 for further details.
2 Pre-provision earnings is revenue net of non-interest expenses and is a non-GAAP measure. See slide 36 for further details.
3 Loan amounts are stated before any related allowances or purchase accounting adjustments.
4 Assets under management (AUM) are included in assets under administration (AUA).
Q3/19
Q2/20
Q3/20
■ AUA4 ■ AUM⭑
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