International Banking and Growth
1
Canadian Banking
Reported Net Income Adjusted Net Income
($MM)
($MM)
829
815
786
815
768
759
814
705
Q1/14 Q4/14 Q1/15
Net after-tax notable items in Q4/14
1,2
•
Q1/14 Q4/14 Q1/15
•
Average Assets ($B)
Net Interest Margin (%)
•
289 290 292 295 297
14
16
19 18 17
2.17
2.12
2.14
2.15 2.16
270 272 275 279 283
Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 Q1/14 Q2/14 Q3/14 Q4/14 Q1/15
Tangerine run-off mortgage portfolio
(1)
Attributable to equity holders of the Bank
(2)
Adjusted for notable items (See Appendix - Notable Items), Cl contribution and change in
effective tax rate
8
•
Highlights
Adjusted net income up 6% Y/Y
Higher net interest margin and strong
Wealth Management earnings
Loan growth of 4% Y/Y
•
•
Ex. Tangerine run-off portfolio, up 6%
Double digit growth in personal and
commercial lending
Deposits up 3% Y/Y
.
Retail chequing and savings balances
were up 8% and 4% respectively
NIM up 4 bps Y/Y
•
Asset spreads were up 6bps, partly
offset by deposit spread compression
AUM up 15% Y/Y and AUA up 11% Y/Y
Higher PCLs due to growth in higher
spread retail products
Expenses up 4% Y/Y
•
Higher investment spend and volume
driven growth
Adjusted positive operating leverage
of 1.7%
Margin expansion and
strong volume growth
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