Canadian Banking and Residential Mortgages Overview
Q1 2022 Financial Performance
$MM, except EPS
Q1/22
Y/Y
Q/Q
Reported
Net Income
$2,740
14%
7%
Pre-Tax, Pre-Provision Profit¹
$3,826
(1%)
12%
•
Diluted EPS
$2.14
15%
9%
Revenue
$8,049
5%
·
Expenses
$4,223
(1%)
Productivity Ratio²
52.5%
40 bps
(310 bps)
Net Interest Margin³
2.16%
(11 bps)
(1 bp)
PCL Ratio²
13 bps
(36 bps)
3 bps
PCL Ratio on Impaired Loans²
24 bps
(25 bps)
(7 bps)
Adjusted³
Net Income
$2,758
14%
2%
Pre-Tax, Pre-Provision Profit
$3,851
(1%)
6%
Diluted EPS
$2.15
14%
2%
Expenses
$4,198
3%
Productivity Ratio
52.2%
40 bps
(60 bps)
REPORTED NET INCOME YEAR-OVER-YEAR ($MM)
.
HIGHLIGHTS
EPS up a strong 14% Y/Y
Reported pre-tax, pre-provision profit up 12% Q/Q (adjusted
up 6%)
Revenue flat Y/Y (up 5% Q/Q)
o FX translation reduced revenue growth by 3%
o Net interest income flat Y/Y. FX translation reduced growth
by 3%
o Non-interest income flat Y/Y. FX translation reduced growth
by 2%
Net interest margin down 11 bps Y/Y (down 1 bp Q/Q)
Expenses flat Y/Y
o FX translation reduced expense growth by 2%
Strong reported ROE of 15.8% (adjusted ROE³ of 15.9%)
REPORTED NET INCOME4 BY BUSINESS SEGMENT ($MM)
+32%
Q1/21 Q1/22
542
(15)
(162)
(7)
(16)
+51%5
-1%
+3%
2,740
2,398
1,201
911
418
412
543
561
389
545
Q1/21
Net interest Non-interest
Income
income
PCLS
Non-interest Taxes
expenses
Q1/22
Canadian Banking Global Wealth
Management
Global Banking
and Markets
International
1 Pre-Tax, Pre-Provision Profit defined as revenues less expenses
Banking
2 Refer to page 48 of the Management's Discussion & Analysis in the Bank's First Quarter 2022 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the measure. Such
explanation is incorporated by reference hereto
3 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's First Quarter 2022 Report to Shareholders, available on http://www.sedar.com
4 Attributable to equity holders of the Bank
6 Y/Y growth rate is on a constant dollar basis
10View entire presentation