Financial Markets Summary Q4 2022
APPENDIX 8 | USSF&I - CREDIGY
Credigy Summary Results - Q4 2022
($MM)
Q4 22
Q3 22
Q4 21
QoQ
YoY
Revenues
88
105
100
(16%)
(12%)
Net Interest Income
116
113
114
3%
2%
Non-Interest Income
(28)
(8)
(14)
Non-Interest Expenses
32
31
30
3%
7%
Pre-Tax/Pre-Provisions
56
74
70
(24%)
(20%)
PCL
(2)
19
Net Income
46
44
55
5%
(16%)
Avg Assets C$
8,968
8,122
7,829
10%
15%
Avg Assets US$
6,731
6,326
6,238
6%
8%
Efficiency Ratio (%)
(1)
36.4%
29.5%
30.0%
Credigy Revenues
(SMM)
43
8
129
131
112
116
107
114
113
116
(14)
(11)
(28)
Q1 21
Q2 21
Q3 21
Q4 21
Q1 22
Q2 22
Q3 22
Q4 22
■Net interest income
Non-interest income
(1) Represents a supplementary financial measure. See slide 2.
(2)
POCI: Purchased or originated credit impaired.
Momentum picking-up with assets up 6% QoQ,
driven by a combination of new deals and
extensions
Lower revenue primarily reflecting significant
increase in discount rates in Q4-22:
NII up 3% QoQ, driven by asset growth
momentum and FX
Non-interest income of -$28M in Q4 and -$50M
in F2022, primarily due to unfavorable mark-to-
market adjustments on assets at fair value
■ Continued strong underlying portfolio
-
performance across asset classes
89% of assets are secured; well diversified and
resilient portfolio
Favorable PCL impact from POCI (2) portfolios,
reflecting better than expected performance
Maintaining a disciplined investment approach in
the current environment
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