Fourth Quarter 2022 Financial Highlights
Capital Markets
Revenue growth over the prior year supported by all business lines
Revenue growth of 17% over the prior year, despite
challenges in the market
•
•
•
Continued momentum in Direct Financial
Services (DFS)
Strong trading revenue (up 16% from the prior
year) supported by growth in Foreign Exchange,
Interest Rates and Commodities trading
Corporate and Investment Banking helped by
strong advisory fees and diversified commitment
and loan growth, partly offset by lower
underwriting revenue
Expense growth of 24% driven by investments in
strategic initiatives, and higher employee-related
costs (including severance costs incurred during the
quarter)
Reported & Adjusted¹ ($MM)
Revenue²
Net interest income
Q4/22
YOY
QoQ
1,182
17%
(1%)
600
(13%)
(9%)
Non-interest income
582
80%
8%
Expenses
656
24%
11%
PPPT³
526
9%
(13%)
Provision for Credit Losses
Net Income
(1)
$33
$8
378
0%
(15%)
F22 Key Highlights
31% / 17%
Loan & Deposit Growth 4,5
Robust annual growth
+17%
U.S. Revenue Growth
$157MM increase over F21
+18%
DFS Revenue Growth
driven by further expansion of business
Revenue is reported on a taxable equivalent basis (TEB). TEB adjustment in Q4/22 was $51 million.
1
Adjusted results are non-GAAP measures. See slides 43-45 for further details.
2
3
4
Loan amounts are before any related allowances or purchase accounting adjustments.
5
Pre-provision, pre-tax earnings is revenue net of non-interest expenses and is a non-GAAP measure. See slide 43 for further details.
Loan and deposit growth is calculated using average balances. Average balances are calculated as a weighted average of daily closing balances.
CIBC◇
Fourth Quarter, 2022
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