Economic Backdrop and Financial Performance Objectives
CNB: Strengthening CNB's operational infrastructure remains a top priority
Deposits (US$ BN)
Assets (US$ BN)
City National's balance sheet has more than doubled in size
since the acquisition in Q1/2016
32
Q1/16
39
~2.5x
+$42BN
11% CAGR
73
Q1/24
~2.5x
+$56BN
12% CAGR
96
12
20
64
Investments to remediate certain non-financial risks and
standards to strengthen operational infrastructure
■ Over the course of the last few years, CNB has put in place a new
management team with a depth of experience from larger U.S.
financial institutions, including:
☐
o Executive Chair
o President & Chief Executive Officer
。 Chief Financial Officer
o Chief Risk Officer
Governance, Risk, and Controls (GRC) Program was established in
2022 to strengthen CNB's operating environment, commensurate
with the bank's size and complexity, resulting in significant
investments in technology, staff and support services
。 ~25% of the growth in RBC's professional fees over the last 2
years was attributed to CNB
■ CNB's LTM professional fees are ~3x higher than in 2021
。 Risk Management, Compliance and Internal Audit staff more
than doubled in size through this period to over 800 FTE
5
10
24
Q1/16
Q1/24
(1)
■Loans ■ Securities ■ Other
(1) Reflects all other assets on CNB's Balance Sheet including Interest-bearing balances due from depository institutions.
20 BUSINESS SEGMENTS
RBCView entire presentation