Fourth Quarter 2022 Financial Highlights
Canadian Personal & Commercial Banking 1
Strong loan and deposit growth underlying the Canadian P&C business
Net Income
Net Interest Margin on Average Interest Earning Assets (bps)
1
2
252
251
917 926
1018 1028
Reported: 235
Adjusted: 235
239
236
238
837 918
985 1027
236
856 870
247
247
Q4/21
Q1/22
Q2/22
Q3/22
Q4/22
Q4/21
■ Reported
■
Adjusted²
Q1/22
Reported NIM (bps)
Q2/22
Q3/22
- Adjusted NIM (bps)²
Q4/22
Average Loans ($B) 3,4
+12%
Average Deposits ($B)3
+10%
406
413
368
320
329
300
91
93
78
117
120
110
290
Q4/21
315
320
190
Q3/22
Q4/22
■ Personal
5
■ Business
Q4/21
203
Q3/22
■ Personal
■ Business
209
Q4/22
Includes the results of Canadian Personal and Business Banking and Canadian Commercial Banking, as well as Simplii Financial and CIBC Investor's Edge, which are now reported in Capital Markets.
Adjusted results are non-GAAP measures. See slides 43-45 for further details. Q4/21, Q1/22, Q2/22, Q3/22 and Q4/22 adjusted net income exclude ($9MM), ($10MM), ($81MM). ($42MM) and ($14MM) after-tax, respectively, in items associated with the acquisition of the
Canadian Costco credit card portfolio. Adjusted NIM excludes $4MM for Q2/22, $6MM for Q3/22 and $6MM for Q4/22 for the accretion of the acquisition date fair value discount on the acquired Costco credit card receivables, treated as an item of note, from reported net
interest income.
3
Average balances are calculated as a weighted average of daily closing balances.
4
Average loans and acceptances, before any related allowances.
5
Commercial Banking loans comprise loans and acceptances and notional amount of letters of credit.
CIBC◇
Fourth Quarter, 2022
36View entire presentation