Canadian Banking and Mortgage Portfolio Overview
Q1 2020 Financial Performance
Strong revenue growth and positive operating leverage
$MM, except EPS
Q1/20
Y/Y
Q/Q
Reported
.
Net Income
$2,326
+4%
+1%
Pre-Tax, Pre Provision Profit
$3,723
+8%
+2%
Diluted EPS
$1.84
+8%
+6%
Revenue
$8,141
+7%
+2%
Expenses
$4,418
+6%
+2%
Productivity Ratio
54.3%
(60 bps)
+20 bps
Core Banking Margin
2.45%
PCL Ratio¹
61 bps
+14 bps
+5bps
+11 bps
•
PCL Ratio on Impaired Loans¹
55 bps
+8 bps
+6 bps
YEAR-OVER-YEAR HIGHLIGHTS
Adjusted EPS growth up 5%²
Adjusted Net Income up 2%2
○ Excluding divestitures net income grew by 8%2
Pre-tax, pre-provision profit (PTPP) up 7%²
Adjusted Revenue up 5%²
Net interest income up 3%
Non-interest income up 8%2
Adjusted Expense growth of 4%²
Adjusted Operating leverage of +1.3%²
Adjusted²
Net Income
$2,344
+2%
(2%)
Pre-Tax, Pre Provision Profit
$3,724
+7%
(1%)
Diluted EPS
$1.83
+5%
+1%
ADJUSTED NET INCOME³ BY BUSINESS SEGMENT ($MM)
Revenue
$7,989
+5%
Expenses
$4,265
+4%
+2%
+5%
Y/Y
Productivity Ratio
53.4%
(70 bps)
+70 bps
PCL Ratio1
51 bps
+4 bps
+1 bp
-17%
Y/Y4
+35%
+11%
Y/Y
Y/Y
PCL Ratio on Impaired Loans¹
53 bps
+6 bps
+4 bps
865
908
743
615
286
318
335
451
CB
IB
■ Q1/19
GWM
GBM
■ Q1/20
1 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures
2 Adjusted for acquisition and divestiture-related amounts, impact of additional pessimistic scenario in ACLS, Derivative Valuation Adjustment, and impairment charge on software asset
3 After non-controlling interest
4 Y/Y growth rate is on a constant dollars basis
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