Canadian Imperial Bank Of Commerce · TSX:CM
Canadian Imperial Bank Of Commerce — CIBC — Q2 2011 Earnings Presentation
12 slides from Canadian Imperial Bank Of Commerce's earnings presentation, May 26, 2011
Slide 1: Second Quarter 2011 Investor Presentation
Second Quarter, 2011 Investor Presentation CIBC Investor Presentation May 26, 2011 Forward–Looking Statements From time to time, we make written or oral forward-looking statements within the meaning of certain securities laws, including in this presentation, in other filings with Canadian securities
Slide 2: CIBC Overview
Second Quarter, 2011 Investor Presentation CIBC Overview Gerry McCaughey President and Chief Executive Officer Second Quarter, 2011 Financial Review Kevin Glass Senior Executive Vice-President and Chief Financial Officer 2
Slide 3: Q2 Summary
Second Quarter, 2011 Investor Presentation Q2 Summary $ Per Share EPS(1): $1.60 Includes(3): Cash EPS(2): $1.62 – Loss on Structured Credit Run-off (0.13) Tier 1 Capital Ratio: 14.7% TCE(2)(4) Ratio: 10.6% Exceed Basel III 2019 min. req’ts Core Operating Results Helped by: Hurt by: – Lower Loan
Slide 4: CIBC Retail Markets
Second Quarter, 2011 Investor Presentation CIBC Retail Markets Revenue Components F ‘10 F ‘11 ($MM) Q2 Q3 Q4 Q1 Q2 Personal Banking 1,554 1,605 1,653 1,682 1,614 Business Banking 324 350 355 348 337 Wealth Management 345 336 355 393 397 FirstCaribbean 165 141 127 129 116 Other (54) 40 (10) (16) (12)
Slide 5: Wholesale Banking
Second Quarter, 2011 Investor Presentation Wholesale Banking Revenue Components F ‘10 F ‘11 ($MM) Q2 Q3 Q4 Q1 Q2 Capital Markets 275 241 218 304 301 Corporate & Investment Banking 132 146 136 196 151 (1) (1) (1) (1) (1) Other 149 (61) (90) 10 (14) (2) Total Revenue (TEB) 556 326 264 510 438 Total Re
Slide 6: Structured Credit Run-off
Second Quarter, 2011 Investor Presentation Structured Credit Run-off Q2/11 Pre-Tax After-Tax EPS Effect Effect ($MM) Effect ($MM) ($/share) [1] Credit Valuation Adjustments with Financial Guarantors 19 14 0.03 [2] Purchased Credit Derivatives Hedging Loans & Receivables (57) (41) (0.10) [3] Gains/(L
Slide 7: CIBC Retail Markets Balances & Market Share
Second Quarter, 2011 Investor Presentation CIBC Retail Markets Balances & Market Share(1) (2) Balances Market Share (%) ($B) Q1/11 Q2/11 Rank(3) Cards (4) 15.6 18.7 18.6 #1 Mortgages(4) 140.9 13.7 13.7 #2 Personal Lending 30.6 8.3 8.2 #5 Personal Deposits & GICs 107.0 16.6 16.5 #3 Business Deposits
Slide 8: Items of Note
Second Quarter, 2011 Investor Presentation Items of Note Pre-Tax After-Tax EPS Effect Strategic Business Unit Q2 2011 Effect ($MM) Effect ($MM) ($/share) Loss on Structured Credit Run-off Activities (70) (50) (0.13) Wholesale Bkg (70) (50) (0.13) Q1 2011 Loss on Structured Credit Run-off Activities
Slide 9: Risk Review
Second Quarter, 2011 Investor Presentation Second Quarter, 2011 Risk Review Tom Woods Senior Executive Vice-President and Chief Risk Officer Q2 Credit Review Total Specific Provisions Gross Impaired Loans ($MM) ($MM) 1,829 1,742 226 210 Q1 Q2 Q1 Q2 F ‘11 F ‘11 F ‘11 F ‘11 18 9
Slide 10: Cards (Managed)
Second Quarter, 2011 Investor Presentation Cards (Managed) ($MM) 300 8.0% 7.0% 250 6.0% 200 5.0% 150 4.0% 248 224 218 3.0% 100 192 191 182 180 183 170 164 130 138 2.0% 114 50 1.0% 0 0.0% (1) Q2/08 Q4/08 Q2/09 Q4/09 Q2/10 Q4/10 Q2/11 PCL Net Credit Loss Ratio • During Q4/09, we reclassified the speci
Slide 11: U.S. Leveraged Finance
Second Quarter, 2011 Investor Presentation U.S. Leveraged Finance As of Q2/11 $MM Drawn Undrawn Total exposure(1) 167 211 European Leveraged Finance As of Q2/11 $MM Drawn Undrawn (1) Total exposure 476 104 (1) Net of write-downs and allowance for credit losses 21 Q2 Trading Revenue (TEB) Distributio
Slide 12: Tier Ratio Movement in Q2
Second Quarter, 2011 Investor Presentation Tier 1 Ratio Movement in Q2 0.63% (0.36%) 0.15% (0.10%) 0.09% 14.7% Dividends Capital Other RWAs 14.3% Issued Capital Earnings Q1 Q2 F ‘11 F ‘11 23 Second Quarter, 2011 Q&A 12