Investor Presentaiton
Q1 2024 SOLID BUSINESS PERFORMANCE
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Revenues up 5% YoY, mainly from balance sheet growth
P&C Banking (YoY)
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Revenues:
PTPP(1):
5%
5%
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NIM up 1 bp YoY and stable QoQ at 2.36%
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Wealth Management (YoY)
Revenues: 4%
PTPP(1): (1)%
Financial Markets (YoY)
Revenues (3): 10%
PTPP(1)(3):
10%
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Personal: Loans up 2% YoY and stable QoQ(2)
Commercial: Loans up 11% YoY and 4% QoQ (2)
Record revenues underlying strong deposit base and asset growth
Fee-based revenues up 8% YoY
■ AUA up 9% and AUM up 11% YoY, mainly from market appreciation
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NII up 5% QoQ
Record net income of $308MM(3), up 3% YoY, reflecting well-diversified business mix
Global Markets: Revenues up 14% YoY(3), with solid performance across the franchise
■ C&IB: Strong Q1 with revenues of $304MM, up 4% YoY
USSF&I (YoY)
Revenues:
PTPP(1):
2%
2%
Credigy: Assets up 6% QoQ (4) with strong momentum in investments; revenue growth
impacted YoY and QoQ by significant prepayment revenue in prior periods; NII up 6% (5)
QoQ excluding favourable items recorded in Q4 2023
■ ABA: Solid growth in loans and deposits with continued momentum in client acquisition;
revenues up 4% QoQ; improving deposit margin
(1) Pre-Tax Pre-Provision earnings (PTPP) refers to Income before provisions for credit losses and income taxes.
(2) Represents growth in Q1 2024 average loans and acceptances.
(3) On a taxable equivalent basis (TEB). In light of the proposed legislation with respect to Canadian dividends, the Bank did not either recognize an income tax
deduction or use the taxable equivalent basis method to adjust revenues related to affected dividends received after January 1, 2024. See slide 2.
(4) Average assets, on a constant currency basis.
(5) Represents NII growth excluding favourable items. See slide 23.
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