Fourth Quarter, 2023 Financial Overview
Canadian Banking: Personal & Business Banking
Net income growth supported by strong margin expansion and expense discipline
•
Net interest income up 11% YoY driven by strong
margins and higher volumes
•
Net interest margin up 19 bps YoY
($MM)
Revenue
Q4/23
Reported
YOY
Adjusted¹
QoQ Q4/23
YOY
QoQ
2,455
9%
•
YoY deposit growth outpaced loans
Net Interest Income
1,908
11%
•
Non-interest income up 1% YoY
Reported expenses comparable to prior year, including
amortization of acquisition-related intangible assets
Adjusted expenses¹ up 1%
Provision for Credit Losses:
Total PCL ratio of 35 bps
Impaired PCL ratio of 32 bps
Non-Interest Income²
547
1%
2% 2,455
1% 1,908
6%
9%
0%
11%
1%
547
1%
(0)%
Expenses
PPPT³
1,307
(0)% 0%
1,301
1%
0%
1,148
21%
4% 1,154 19%
0%
Provision for Credit Losses
282
$(23) $(141)
282
$(23) $(141)
Net Income
635
35% 28%
639
32% 21%
Loans (Average, $B)4,5
320
2%
1%
320
2%
1%
Deposits (Average, $B)5
221
4%
1%
221
4%
1%
Net Interest Margin (bps)
238
19
0
238
19
0
Q4/23 | Key Highlights
+585K
Net New Client Growth [YTD]6
Continued momentum in client growth
+9% / +8%
Reported / Adjusted 1 Op. Leverage
Stabilizing expense growth
94%
Digital Transactions?
Record high number completed digitally
Endnotes are included on slides 58 to 66.
CIBC◇
Fourth Quarter, 2023
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