International Banking and Growth
Q1 2015 Financial Performance
$ millions, except EPS
Q1/15 Q/Q² Y/Y
Net Income
$1,726
+1%
+1%
.
Diluted EPS
$1.35
+2%
+2%
Revenues 1
$5,955
+1%
+4%
•
Expenses
$3,197 +1% +3%
Productivity Ratio 53.7% +40bps -50bps
Dividends Per Common Share
+$0.02
•
+$0.02
+$0.02
$0.66 $0.66
$0.64 $0.64
$0.62
Q1/14
Q2/14 Q3/14
Q4/14 Q1/15
Announced dividend increase
(1)
Taxable equivalent basis
(2)
Adjusted for: $265 million of notable items in Q4/14 (See Appendix - Notable Items)
6
Highlights
Diluted EPS growth of 2% Y/Y
Solid business performance and results to
start the year
Revenue growth of 4% Y/Y
Asset growth primarily in business lending
and personal loans
Positive impact of FX
Higher core banking margin
Higher fee income, partly offset by a lower
contribution from associated corporations
due to Cl sale
Expenses up 3% Y/Y
Expense growth was well contained
Technology costs and software
amortization
Volume-related expenses from wealth
management businesses and loyalty
program costs
Positive operating leverage of 1%
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