Q1 Financial Review
Strong volume growth in Canadian Commercial and Wealth
Reported ($MM)
.
•
Q1/20
YOY
Revenue
1,055
7%
QoQ
3%
Net interest income
315
1%
4%
Non-interest income
•
740
10%
2%
Non-Interest Expenses
561
9%
6%
Provision for Credit Losses
35
(19%)
(56%)
Net Income
336
7%
10%
Adjusted¹ ($MM)
Q1/20
YOY
QoQ
Revenue
1,055
7%
3%
•
Net interest income
315
1%
4%
Non-interest income
740
10%
2%
Non-Interest Expenses
561
9%
6%
Pre-Provision Earnings²
494
5%
(1%)
Provision for Credit Losses
35
(19%)
(56%)
Net Income
336
7%
10%
Continued volume growth driving growth in net interest
income, largely offset by lower margins
Commercial loan balances up 9% YoY
Commercial deposit balances up 14% YoY
NIM of 3.22%, up 14 bps QoQ and down 8 bps YoY
Non-interest income up 10% YoY
Strong results in Wealth Management, driven by double-
digit growth in AUM and AUA and higher net sales
Higher fee income in Commercial Banking
Provision for Credit Losses:
PCL ratio on impaired of 21 bps
Total PCL ratio of 22 bps
Commercial Banking
Wealth Management
60
65
53
58
65
273
289
299
60
168
182
190
Q1/19
Q4/19
Loans & Acceptances ($B)³
Q1/20
Deposits ($B)
Q1/19
Q4/19
Q1/20
■ AUA ($B) 4
■ AUM ($B) 4
CIBC
1 Adjusted results are non-GAAP financial measures. See slide 28 for further details.
2 Pre-provision earnings is revenue net of non-interest expenses and is a non-GAAP measure. See slide 28 for further details.
3 Comprises loans and acceptances and notional amount of letters of credit.
4 Assets under management (AUM) are included in assets under administration (AUA).
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