2018 Financial Performance
Q4 2018 Financial Performance
Strong revenue growth and higher NIM
$MM, except EPS
Q4/18
Y/Y
Q/Q
Reported
Net Income
$2,271
+10%
+17%
Diluted EPS
$1.71
+4%
+10%
·
Revenue
$7,448
+9%
+4%
.
Expenses
$4,064
+11%
+8%
Productivity Ratio
54.6%
+80bps
+210bps
Core Banking Margin
2.47%
+3bps
+1bp
PCL Ratio 1,2
39bps
(3bps)
(30bps)
PCL Ratio on Impaired Loans 1,2
42bps
+1bp
Adjusted³
·
Net Income
$2,345
+13%
+4%
Diluted EPS
$1.77
+7%
+1%
•
Expenses
$3,962
+9%
+6%
Productivity Ratio
53.2%
(40bps) +140bps
PCL Ratio 1,2
39bps
(3bps)
(1bp)
DIVIDENDS PER COMMON SHARE
0.03
0.03
0.79
0.79
0.82
0.82
0.85
Q4/17
Q1/18
Q2/18
Q3/18
Q4/18
■ Announced Dividend Increase
YEAR-OVER-YEAR HIGHLIGHTS
Adjusted Net Income up 13%³
Revenue up 9%
○ Net interest income up 10%
○ Non-interest income up 8%
Expenses up 9%
3
Productivity ratio improved 40 bps³
Flat PCL ratio 1, 2 on impaired loans
12018 amounts are based on IFRS 9. Prior period amounts were based on IAS 39
2 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures
3 Adjusted for Acquisition-related costs, including integration and amortization costs related to current
acquisitions, amortization of intangibles related to current and past acquisitions and the Day 1 PCL
impact on acquired performing loans in Q3/18
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