Third Quarter 2021 Investor Presentation
Global Wealth Management
$MM, except AUM/AUA
Q3/21
Y/Y
Q/Q
Reported
•
Net Income¹
$390
21%
5%
Pre-Tax, Pre-Provision Profit
$523
20%
3%
Revenue
$1,335
18%
2%
Expenses
$812
16%
1%
PCLS
($1)
nmf
nmf
Productivity Ratio
•
60.9%
(80 bps)
(40 bps)
AUM ($B)
$344
17%
4%
AUA ($B)
$587
17%
3%
Adjusted²
Net Income¹
$397
19%
5%
•
Pre-Tax, Pre-Provision Profit
$531
18%
3%
Expenses
$804
17%
1%
Productivity Ratio
60.2%
(10 bps)
(40 bps)
•
YEAR-OVER-YEAR HIGHLIGHTS
Adjusted net income² up 19%
o Canadian wealth management up 20% (ten
consecutive quarters of double-digit Y/Y growth)
o International wealth management up 16% (up 25%
constant FX)
Revenue up 18%
o Higher mutual fund fees
o Higher brokerage fees
。 Strong volume growth in Private Banking
Adjusted expenses² up 17% (volume driven)
YTD adjusted operating leverage² +3.7%
o Seven consecutive quarters of positive operating
leverage
AUM up 17% and AUA up 17%
o Strong net sales and market appreciation
1,2
ADJUSTED NET INCOME ¹² ($MM) AND ROE² (%)
AUM
AUA
+17%
+17%
Y/Y
Y/Y
344
571
587
17.9%
332
16.7%
16.8%
33 -9%
503
293
37
37
106
107
-1%
14.3%
14.3%
Y/Y
Y/Y
108
425
62
295
311 +21%
+22%
465
480
256
Y/Y
395
Y/Y
332
333
363
378
397
Q3/20
Q2/21
Q3/21
Canada
Q3/20
Q2/21 Q3/21
■International
1 Attributable to equity holders of the Bank
2 Refer to Non-GAAP Measures on slide 38 for adjusted results
Q3/20
Q4/20
Q1/21
Q2/21
Q3/21
■ Performance Fees
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