Fourth Quarter, 2023 Financial Overview
Endnotes
Fourth quarter and fiscal 2023
Slide 36 – U.S. Region: Commercial Banking & Wealth Management ($US)
Pre-provision, pre-tax earnings (PPPT) 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.
Average balances are calculated as weighted average of daily closing balances.
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Investor Day targets are medium-term targets and based on adjusted measures. Adjusted measures are non-GAAP measures. See slide 67 for further details. Medium-term targets are defined as through
the cycle, which is currently defined as three to five years, assuming a normal business environment and credit cycle.
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.
Slide 37 - Capital Markets & Direct Financial Services
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Revenue is reported on a taxable equivalent basis (TEB). TEB adjustment for F23 was $254MM.
Adjusted results are non-GAAP measures. See slide 67 for further details.
Pre-provision, pre-tax earnings (PPPT) is revenue net of non-interest expenses and is a non-GAAP measure. See slide 67 for further details.
Loan amounts are before any related allowances or purchase accounting adjustments.
Average balances are calculated as a weighted average of daily closing balances.
Investor Day targets are medium-term targets and based on adjusted measures. Adjusted measures are non-GAAP measures. See slide 67 for further details. Medium-term targets are defined as through
the cycle, which is currently defined as three to five years, assuming a normal business environment and credit cycle.
Slide 38 Our Digital Footprint
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Canadian Personal Banking only, excluding Simplii Financial. Based on spot balances as at October 31 for the respective periods.
Digital Adoption (Penetration) Rate represents the percentage share of Digital Registered Customers who have been engaged on CIBC Online Banking and/or CIBC Mobile Banking at least once in the last
90 calendar days out of all Canadian Personal Banking customers engaged across any channel.
Active Digital Users represent the 90-day Active clients in Canadian Personal Banking.
Reflects financial transactions only.
Other includes transfers and eDeposits.
Slide 39 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. Q4/22, Q1/23, Q2/23, Q3/23 and Q4/23 adjusted net income exclude ($14MM), ($5MM), ($6MM), ($30MM) and ($4MM) after-tax,
respectively, in items associated with the acquisition of the Canadian Costco credit card portfolio, the Commodity Tax Charge related to the 2023 Canadian Federal budget and the amortization and
impairment of acquisition-related intangible assets. Adjusted NIM excludes $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.
Certain additional disclosures for net interest margin on average interest-earning assets (NIM) have been incorporated by reference and can be found on pages 101-107 in the 2023 Annual Report
available on SEDAR+ at www.sedarplus.ca.
4. Average balances are calculated as a weighted average of daily closing balances.
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Average loans and acceptances, before any related allowances.
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Commercial Banking loans comprise loans and acceptances and notional amount of letters of credit.
CIBC
Fourth Quarter, 2023
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