Fourth Quarter, 2023 Financial Overview
U.S. Region: Commercial Banking & Wealth Management ($US)
Relationship-oriented solutions with a focus on organic growth and seamless connectivity
Our U.S. commercial and wealth business in review
Revenue
Reported & Adjusted¹
$2.0B
PPPT2
NIAT
Operating Leverage
Balance Sheet (Avg.)
Reported
Adjusted1
YoY +5%
$0.9B
$0.9B
YoY +4%+2%1
Reported
Adjusted¹
$0.3B
$0.3B
YoY (52)%(51)%1
Reported
Adjusted¹
(0.7)%
Loans 3,4
$40B
(2.2)%
Deposits4
$35B
YoY +6%/+5%1
YoY +8% (2)%
Credit
Imp. PCL Ratio 97bps
PCL Ratio 158bps
YoY +73bps/+112bps
CIBC Private
Wealth remains
most awarded firm
in the industry over
12 years
Fiscal 2023 against Investor Day targets5
Return on Equity
Target: +9%
Ranked "Best High
Net Worth Investment
Platform" based on
2023 Private Asset
Management Awards
Top Ten
Registered
Investment Advisor
888 by Barron's for the
fourth year
Revenue Growth
Target: 10-13% CAGR
Commercial Banking
Loan & Deposit Growth 3,4
Target: Above Market
Private Wealth
Management AUM
Target: 15% CAGR
F23 Reported | 3.3%
F23 Adjusted | 3.7%
F23 | +5% YoY
F23 +9% (1)% YoY
F23 | 3% YoY
Client Referral Volume6
Target: +10%
F23 +35% YoY
Our focus for 2024
1 Expanding Private Wealth
Management with a focus on
high-touch relationships and
building scale
2 Growing Commercial Banking by
delivering industry expertise and
unique solutions leveraging the
strength of our franchise to provide
lending and deposit services
3 Investing in people, technology and
infrastructure to scale our platform, drive
connectivity, and improve capabilities
and decision-making
Endnotes are included on slides 58 to 66.
CIBC◇
Fourth Quarter, 2023
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