Download Q1 2017 Investor Fact Sheet

Investor Fact Sheet
Q1 2017
Who We Are
Our Strategy
CIBC (CM: TSX, NYSE) is a leading Canadian-based financial institution with a market
capitalization of $44 billion and a Basel III Common Equity Tier 1 capital ratio of 11.9%.
Through our three major business units – Retail and Business Banking, Wealth
Management and Capital Markets – our more than 43,000 employees provide a full range
of financial products and services to 11 million individual, small business, commercial,
corporate and institutional clients in Canada, the U.S.and around the world.
At CIBC, we are building a strong, innovative,
relationship-oriented bank. We are accelerating our
transformation by concentrating on three bank-wide
priorities:
Key Businesses
 Retail and Business Banking
 Wealth Management
 Capital Markets
1.
Focusing on our clients
2.
Innovating for the future
3.
Simplifying our bank
Metrics
2016
2017 (As of Jan 31)
Total Assets
$501.4B
$513.3B
Deposits
$395.6B
$409.8B
Loans and Acceptances
$319.8B
$322.1B
Common Equity Tier 1 Ratio
11.3%
11.9%
Market Capitalization
$39.9B
$44.3B
Total Shareholder Return
5.19%
11.49%
Credit Ratings
Senior
Outlook
DBRS
Moody’s
Standard &
Poor’s
Fitch
AA
Aa3
A+
AA-
Negative
Negative
Stable
Stable
Financial Highlights
1,441
9821,029
941
Q1/16
1,072
962
Q2/16
Q3/16
Reported
1,041
931
3.61
1,407
1,166
2.43
Q4/16
Adjusted
Return on Common Shareholders’
Equity (%)
Earnings Per Share (C$)
Net Income (C$ millions)
Q1/17
2.55
2.35
Q1/16
2.67
2.40
Q2/16
(1)
3.50
2.32
Q3/16
Reported
2.60
Q4/16
Adjusted
26.8
2.89
Q1/17
38
26
32
27
3.9
2.7
2.6
Q2/16
Q3/16
1.8
Q1/16
Q2/16
Q3/16
Q4/16
Q1/17
Q1/16
Q1/16
Q4/16
18.0
19.8
18.4
Q2/16
24.4
16.8 18.8
Q3/16
Reported
Adjusted Operating Leverage(1) (%)
26
19.0
(1)
Target: average annual EPS growth of at least 5%
Loan Loss Ratio (basis points)
18.1
Q4/16
Adjusted
Common Equity Tier 1 Ratio (Basel III) (%)
3.4
10.6
10.4
10.9
11.3
11.9
Q1/17
Q1/16
Q2/16
Q3/16
Q4/16
Q1/17
growing revenue faster than expenses
Non-GAAP measure. See Non-GAAP measures within the Notes to users section on page 1 of the Q1/17 Supplementary Financial Information available on www.cibc.com.
Contact Information
CIBC Investor Relations
John Ferren, Senior Vice-President, Corporate CFO and Investor Relations
Tel: (416) 980-2088 | Email: [email protected] | Website: www.cibc.com
Q1/17
(1)
Target: maintain a strong ROE of at least 15%
Target: Achieve positive operating leverage by
(1)
20.1
Investor Fact Sheet
Q1 2017
Business Highlights and Performance
Retail and Business Banking
 Revenue of $2,596 million and net income of $953 million
Revenue (C$ millions)
Net Income (C$ millions)
 Launched Digital Cart, allowing clients to apply for multiple banking products
entirely through mobile devices or online – a first in the mobile space in Canada;
 Earned the highest overall score for the third year in a row for online banking
functionality among the five largest retail banks in Canada in Forrester Research
Inc.’s 2016 Canadian Online Banking Functionality Benchmark report; and
2,190 2,150 2,225 2,290
2,596
953
684
666
652
687
 Transformed eight banking centres to deliver a more modern banking experience
to clients, driven by their changing banking preferences.
Q1/16 Q2/16 Q3/16 Q4/16 Q1/17
Q1/16 Q2/16 Q3/16 Q4/16 Q1/17
Revenue (C$ millions)
Net Income (C$ millions)
Wealth Management
 Revenue of $653 million and net income of $133 million
 Launched multi-currency registered brokerage accounts, enabling clients to hold
U.S. dollars and six other major currencies in their registered accounts; and
506
1,035
 Began co-locating Private Banking teams with CIBC Wood Gundy teams in select
locations across the country, to deliver a more integrated offer for high net
worth clients and drive growth in this market.
601
653
620
583
119
126
113
133
Q1/16 Q2/16 Q3/16 Q4/16 Q1/17
Q1/16 Q2/16 Q3/16 Q4/16 Q1/17
Revenue (C$ millions)
Net Income (C$ millions)
Capital Markets
 Revenue of $877 million and net income of $371 million
 Financial advisor to Shell Canada on the sale of Oil and Gas assets to Tourmaline
Oil Corp. for $1.4 billion;
 Joint bookrunner on a $1.0 billion offering of 2.09% notes for PSP Capital Inc.;
 Co-underwriter on $150 million in credit facilities in support of Acasta Enterprises
Inc.’s qualifying acquisition of Apollo Health & Beauty Care Partnership and
Apollo Laboratories Inc., and JemPak Corporation;
 Lead manager and joint bookrunner on a $125.4 million Initial Public Offering for
Freshii Inc.; and
683
809
750
371
877
673
244
252
304
276
 Announced partnership with China UnionPay International, expanding CIBC Global
Money Transfer services to China.
Q1/16 Q2/16 Q3/16 Q4/16 Q1/17
Q1/16 Q2/16 Q3/16 Q4/16 Q1/17
Shareholder Information
Share Price (C$) — CM
Dividend History
Five Years Ended January 31, 2017
$5.08
Target Dividend Payout
Ratio: ~50 %
CAGR: 6.16%
$120
$110
$100
$90
Dividend
Yield 4.40%
$2.20
$80
$70
$60
January 31, 2017
$110.81
$50
$40
04
$30
2012
2013
2014
2015
2016
For A Note About Forward-Looking Statements, please refer to page 1 of the Q1/17
Management’s Discussion and Analysis available on www.cibc.com.
2017
05
06
07
08
09
10
11
12
13
14
15
*CIBC has not missed a regular dividend since its first dividend payment in 1868
16
17
Annualized