Fourth Quarter, 2023 Financial Overview
Endnotes
Fourth quarter and fiscal 2023
Slide 40 Canadian Personal & Commercial Banking
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Includes the results of Canadian Personal and Business Banking and Canadian Commercial Banking, as well as Simplii Financial and CIBC Investor's Edge, in Capital Markets.
Adjusted results are non-GAAP measures. See slide 67 for further details. Adjusted NIM excludes $4MM for Q2/22, $6MM for Q3/22, $6MM for Q4/22 for the accretion of the acquisition date fair value
discount on the acquired Costco credit card receivables, treated as an item of note, from reported net interest income in that period.
Asset base represents residential mortgage, personal lending and credit card balances for Canadian Personal and Business Banking and Canadian Commercial Banking, as well as Simplii Financial and
CIBC Investor's Edge, in Capital Markets. Deposit base represents client deposits for Canadian Personal and Business Banking and Canadian Commercial Banking, as well as Simplii Financial and CIBC
Investor's Edge, in Capital Markets. Reflects spot balances as of the respective period ends.
Gross inflow spread (excluding open and refinancing) represents the client rate less cost of funds. We show gross inflow spreads excluding open as open mortgages tend to be for clients that have reached
end of term and not arranged for a more permanent renewal, are outstanding for a short period of time, and have much higher rates and therefore spreads than the rest of the portfolio originations. We
show ex-refinancing as refinancing mortgages may have blended client rates without directly offsetting changes in our measurement for cost of funds.
Slide 41 U.S. Region: Commercial Banking & Wealth Management (C$S)
Pre-provision, pre-tax earnings is revenue net of non-interest expenses and is a non-GAAP measure. See slide 67 for further details.
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Adjusted results are non-GAAP measures. See slide 67 for further details.
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Loan amounts are stated before any related allowances or purchase accounting adjustments.
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Average balances are calculated as a weighted average of daily closing balances.
Assets under management (AUM) are included in assets under administration (AUA). Includes certain Canadian Commercial Banking and Wealth Management assets that U.S. Commercial Banking and
Wealth Management provides sub-advisory services for.
Metric refers to referrals made across lines of business (LOB) within the US Commercial and Wealth Management segment, as well as referrals made to the Capital Markets segment.
Net flows from new clients refers to any inflows (excluding reinvested dividends) related to a client within a 12-month period of client inception.
Slide 42 Funding & Liquidity
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TLAC is calculated pursuant to OSFI's TLAC Guideline, which is based on BCBS standards. For additional information, see the "Capital Management" section in the 2023 Annual Report, available on
SEDAR+ at www.sedarplus.ca.
Slide 43 Interest Rate Sensitivity
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A number of assumptions are used to measure Structural Interest Rate Sensitivity. For additional information, see the "Market risk" Non-trading activities section on page 75 in the 2023 Annual Report,
available on SEDAR+ at www.sedarplus.ca.
SBU allocation includes the structural repricing exposure arising from our capital and zero/partially rate sensitive deposits and excludes exposure from other short-term factors such as rate resets and
position management.
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Source: Bloomberg, November 19, 2023.
Slide 44 Furthering Our ESG Strategy
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Sustainable financing largely relates to client activities that support, but are not limited to, sectors such as renewable and emission-free energy, energy efficiency, sustainable infrastructure or technology,
sustainable real estate, affordable housing and basic infrastructure, and products such as, sustainability linked and green financial products. The services offered by CIBC included in our sustainable
finance commitment to support these client activities include loans and loan syndications, debt and equity underwritings, M&A advisory and principal investments. The affordable housing sector includes
loans and investments that meet our obligations under the U.S. Community Reinvestment Act.
Includes donations from CIBC to CIBC Foundation as well as donations from the CIBC Foundation funded from investment growth.
CIBCâ—‡
Fourth Quarter, 2023
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