Trading Results & Economic Outlook
International Banking
$MM
Q4/20
Y/Y1 Q/Q¹
•
Reported
Net Income²
$263
(60%)
1,130%
Pre-Tax, Pre Provision Profit
$1,124
(21%)
(2%)
Revenue
$2,548
(15%)
2%
Expenses
$1,424
(10%)
5%
PCLS
$736
58%
(41%)
Productivity Ratio
55.9%
290 bps
180 bps
Net Interest Margin
3.97%
(54 bps)
(2 bps)
PCL Ratio³
2.07%
72 bps
(126 bps)
PCL Ratio Impaired Loans³
1.58%
31 bps
9 bps
Adjusted 5
Net Income²
$283
(60%)
497%
Net Income - Ex Divested Ops.²
$283
(48%)
503%
Pre-Tax, Pre Provision Profit
$1,151
(23%)
(3%)
Expenses
$1,397
(7%)
6%
Productivity Ratio
54.8%
440 bps
250 bps
•
YEAR-OVER-YEAR HIGHLIGHTS1
Adjusted net income 2,4 excluding impact of divestitures
down 48%; up significantly Q/Q
o PCLs up 62%, mainly from performing loan PCLS
o Loan growth of 7% and deposit growth 7%
FY20 pre-tax, pre-provision profit ex. divestitures down
4%; Pacific Alliance down 1%
Revenues ex. divestitures down 6%; up 2% Q/Q
o Margin compression and lower non-interest income
o PAC revenues down 2%; up 3% Q/Q
NIM down 54 bps; down modestly Q/Q
o Mainly driven by business mix changes, impact of
liquidity/government programs, and interest rate cuts
Adjusted expenses4 ex. divestitures down 2%; adjusted
FY20 operative leverage4 ex. divestitures of -1.4%
o Benefiting from efficiency initiatives and realized
synergies
ADJUSTED NET INCOME 24 ($MM) AND NIM (%)
4.51%
4.51%
4.28%
3.99%
3.97%
725
615
158
59
283
567
556
197
53
197
1
283
52
1Y/Y and Q/Q growth rates (%) are on a constant dollar basis, while metrics and change in bps are on a
reported basis
Q4/19
Q1/20
Q2/20
Q3/20
Q4/20
2 Attributable to equity holders of the Bank
3 Includes provision for credit losses on certain assets - loans, acceptances and off-balance sheet
exposures
4 Refer to Non-GAAP Measures on slide 40 for adjusted results
Ex. Divested Ops
Divested Ops
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