Investor Presentation Fourth Quarter 2020
Fourth Quarter 2020 Financial Results
Reported ($MM)
Revenue
Q4/20
YOY
QoQ
4,600
(4%)
(2%)
Net interest income
2,792
(0%)
Non-interest income
1,808
(8%)
Non-Interest Expenses
2,891
2%
Provision for Credit Losses
291
(28%)
(45%)
•
Net Income
1,016
(15%)
(13%)
Diluted EPS
$2.20
(15%)
(14%)
Efficiency Ratio
ROE
CET1 Ratio
62.9%
340 bps
550 bps
•
10.7%
12.1%
(220) bps
56 bps
(140) bps
34 bps
2%
(9%)
7%
QoQ
(2%)
Overall Performance - Adjusted¹
•
•
Earnings reflect resilience of diversified franchise
.
Moderating provision for credit losses
Strong capital position with CET1 ratio of 12.1%
Revenue
•
Net interest income up 2% YoY
.
Improving balance growth in Personal & Business Banking
Strong performance in Capital Markets driven by higher trading activity
Double-digit deposit growth in Canadian and U.S. Commercial businesses
Non-interest income down 8% YoY
•
Decreased client activity contributing to lower consumer fees
Expenses
Continued emphasis on expense discipline resulting in stable operating leverage
Provision for Credit Losses (PCL)
PCL continues to moderate from Q2 peak
Adjusted¹ ($MM)
Revenue
Net interest income
Q4/20
YOY
4,600
(2%)
2,792
2%
2%
Non-interest income
1,808
(8%)
(9%)
Non-Interest Expenses
2,613
(2%)
0%
•
Pre-Provision Earnings²
1,987
(3%)
(5%)
Provision for Credit Losses
291
(28%)
(45%)
Net Income
1,280
(2%)
3%
Diluted EPS
$2.79
(2%)
3%
Efficiency Ratio (TEB)
56.4%
40 bps
160 bps
ROE
13.5%
(70) bps
60 bps
CIBC
2
1 Adjusted results are non-GAAP financial measures. See slide 38 for further details.
Pre-provision earnings is revenue net of non-interest expenses and is a non-GAAP measure. See slide 38 for further details.
•
Total PCL ratio of 28 bps, down 12 bps YoY and 22 bps QoQ
PCL ratio on impaired of 17 bps, down 16 bps YoY and 12 bps QoQ
Fourth Quarter, 2020 8View entire presentation