Fourth Quarter, 2023 Financial Overview
Canadian Banking: Commercial Banking & Wealth Management
Becoming Canada's leader in financial advice and generating consistent growth
Our Canadian commercial and wealth franchise in review
Revenue
Reported & Adjusted¹
$5.4B
PPPT2
Reported & Adjusted¹
$2.7B
YoY +3%
YoY +4%
NIAT
Reported & Adjusted¹
$1.9B
YoY (1)%
Operating Leverage
Reported & Adjusted¹
1.5%
YoY (2)%
Balance Sheet (Avg.)
Loans 3,4
$94B
Deposits4
$97B
YoY +8%+3%
Delivery of ~7K
financial plans from
GoalPlanner drove
+$3.5B in AUA
Fiscal 2023 against Investor Day targets5
Return on Equity
Target: +22%
F23 | 22.2%
Wood Gundy ranked
#2 by the Investment
Executive Brokerage
Report Card
Revenue Growth
Target: 7-10% CAGR
Commercial Banking
Loan & Deposit Growth³,4
Target: Above Market
Achieved
highest-ever
Net Promoter
Score results
Endnotes are included on slides 58 to 66.
CIBC
F23 +3% YoY
F23 +8%/+7% YOY
Annual Net Flows / Retail AUA6
Target: 6%
F23 | 2%
Client Referral Volume7
F23 $7.2B
Target: $12B-$15B (F22-F25 Cumulative)
Innovation Banking NIBT
F23 | $184MM
Target: 3x F21 NIBT of $59MM
Fourth Quarter, 2023
Credit
Imp. PCL Ratio 12bps
PCL Ratio 16bps
YoY +9bps / +13bps
Our focus for 2024
1 Delivering risk-controlled
growth in our Commercial Bank,
while continuing to foster strong
referrals across CIBC
2 Accelerating the growth of
Private Wealth with a focus on
financial planning to deepen client
relationships
3 Evolving our Asset Management
business to increase connectivity
and support advisors with digital
tools and technology to deepen
client relationships
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