Third Quarter 2021 Investor Presentation
Canadian Banking
$MM
Q3/21
Y/Y
Q/Q
Reported
•
Net Income¹
$1,079
152%
16%
Pre-Tax, Pre-Provision Profit
$1,528
15%
10%
Revenue
$2,795
12%
7%
Expenses
$1,267
8%
3%
•
PCLS
$69
(91%)
(52%)
Productivity Ratio
45.3%
(160 bps)
(150 bps)
Net Interest Margin
2.23%
(3 bps)
(3 bps)
PCL Ratio²
7 bps
(78 bps)
(9 bps)
PCL Ratio on Impaired Loans²
14 bps
(22 bps)
(13 bps)
.
Adjusted³
Net Income¹
$1,083
150%
16%
Pre-Tax, Pre-Provision Profit
$1,533
15%
9%
•
Expenses
Productivity Ratio
$1,262
8%
3%
•
45.1%
(160 bps)
(150 bps)
•
•
YEAR-OVER-YEAR HIGHLIGHTS
Adjusted net income 1,3 up 150% (up 16% Q/Q)
○ Pre-tax, pre-provision profit up 15%
o PCLs down 91% due to more favourable credit and
macroeconomic outlook
Revenue up 12% (up 7% Q/Q)
。 Non-interest income up 34% driven by continued
rebound in fee income
。 Net interest income up 5% from strong loan growth
NIM down 3 bps
o Mainly due to changes in business mix
Adjusted expenses³ up 8% (up 3% Q/Q)
YTD adjusted operating leverage³ +2.3%
Loan growth of 7%
o Residential mortgages up 10%
o Business loans up 7%
Deposit growth of 12%
o Personal up 5%, non-personal up 26%
ADJUSTED NET INCOME ¹³ ($MM) AND NIM (%)
2.26%
2.26%
2.26%
2.26%
2.23%
1,083
915
931
782
433
1 Attributable to equity holders of the Bank
2 Includes provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures
3 Refer to Non-GAAP Measures on slide 38 for adjusted results
Q3/20
Q4/20
Q1/21
Q2/21
Q3/21
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