Financial Performance and Outlook slide image

Financial Performance and Outlook

TD U.S. Retail Operating momentum in a challenging environment Net income down 19% YoY (Adj¹ down 21% YoY) Revenue down 3% YoY ■ Lower deposit volumes, loan margins and overdraft fees, partially offset by higher deposit margins, loan volumes and fee income from increased customer activity ■ Personal loans up 12% PCL Impaired Performing P&L (US$MM) (except where noted) Reported Q4/23 QoQ YOY Revenue 2,622 -1% -3% 213 +$28 +$44 227 +$34 +$102 (14) -$6 -$58 Expenses 1,520 1% 3% U.S. Retail Bank Net Income 800 -5% -14% Schwab Equity Pickup 146 3% -38% Net Income incl. Schwab 946 -4% -19% ■ Business loans up 9% Deposits down 12%, or down 4% excl. sweeps Net Income incl. Schwab (C$MM) ROE 1,280 -3% -17% 12.2% -50 bps -320 bps NIM1,2 of 3.07% Up 7 bps QoQ: higher deposit margins from tractor maturities, partially offset by lower loan margins PCL of $213MM Expenses up 3% YoY (Adj¹ up 6% YoY) ☐ " Higher legal expenses, regulatory expenses and investments, employee-related expenses and FDIC assessment fees Reported and adjusted efficiency ratio of 58.0% Adjusted¹ Q4/23 QoQ YOY Expenses 1,520 6% 6% U.S. Retail Bank Net Income Net Income incl. Schwab 800 -10% -17% 946 -8% -21% Net Income incl. Schwab (C$MM) 1,280 -7% -19% ROE 12.2% -110 bps -360 bps 14 14
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