Canadian Imperial Bank Of Commerce · TSX:CM
Canadian Imperial Bank Of Commerce — CIBC — Q4 2010 Earnings Presentation
15 slides from Canadian Imperial Bank Of Commerce's earnings presentation, Dec 2, 2010
Slide 1: Fourth Quarter 2010 Investor Presentation
Fourth Quarter, 2010 Investor Presentation CIBC Investor Presentation December 2, 2010 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 securi
Slide 2: CIBC Overview / Financial Review
Fourth Quarter, 2010 Investor Presentation CIBC Overview Gerry McCaughey President and Chief Executive Officer Fourth Quarter, 2010 Financial Review David Williamson Senior Executive Vice-President and Chief Financial Officer 2
Slide 3: Q4 Summary
Fourth Quarter, 2010 Investor Presentation Q4 Summary $ Per Share EPS(1): $1.17 Includes(3)– Loss on Structured Credit Run-off (0.31) Cash EPS(2): $1.19 – Impact of Capital Repatriation Activities (0.30) Tier 1 Capital – Reversal of General Allowance 0.12 Ratio: 13.9% (0.49) TCE(2)(4) Ratio: 9.9% Co
Slide 4: CIBC Retail Markets Revenue Components
Fourth Quarter, 2010 Investor Presentation CIBC Retail Markets Revenue Components F ‘09 F ‘10 ($MM) Q4 Q1 Q2 Q3 Q4 Personal Banking 1,562 1,601 1,554 1,605 1,653 Business Banking 334 331 324 350 355 Wealth Management 337 346 345 336 355 FirstCaribbean 160 157 165 141 127 Other (37) (33) (54) 40 (10)
Slide 5: CIBC Retail Markets Quarterly Statement of Operations
Fourth Quarter, 2010 Investor Presentation CIBC Retail Markets Quarterly Statement of Operations F ‘09 F ‘10 ($MM) Q4 Q1 Q2 Q3 Q4 Net Income Revenue 2,356 2,402 2,334 2,472 2,480 vs. Q4/09: Provision for + volumes up (1) Credit Losses 362 365 334 304 249 + MasterCard portfolio Non-Interest acquisiti
Slide 6: Wholesale Banking Quarterly Statement of Operations
Fourth Quarter, 2010 Investor Presentation Wholesale Banking Quarterly Statement of Operations F ‘09 F ‘10 ($MM) Q4 Q1 Q2 Q3 Q4 Net Income Revenue 503 (1) 613 (1) 548 (1) 315(1) 238 (1) vs. Q3/10: Provision for + loan losses down Credit Losses 82 24 27 29 8 Non-Interest (1) (1) (1) (1) (1) – lower r
Slide 7: 2010 Highlights
Fourth Quarter, 2010 Investor Presentation 2010 Highlights • Earnings • Capital Ratios • Productivity • Risk 13 Fourth Quarter, 2010 Financial Review Appendix 7
Slide 8: CIBC Retail Markets Balances
Fourth Quarter, 2010 Investor Presentation CIBC Retail Markets Balances (1) F ‘09 F ‘10 ($ B) Q4 Q1 Q2 Q3 Q4 Funds Managed: Cards, Outstanding 13.9 14.0 13.9 13.8 15.8 Residential Mortgages & Personal Loans 159.7 161.1 163.7 166.6 167.8 Consumer Deposits & GICs 103.1 104.1 105.5 106.9 106.5 AUA(2) :
Slide 9: Other Non-Interest Income
Fourth Quarter, 2010 Investor Presentation “Other” Non–Interest Income F ‘09 F ‘10 ($MM) Q4 Q1 Q2 Q3 Q4 (1) Gains/(Losses) 15 47 12 2 12 Income from equity-accounted investments 14 7 18 (3) (12) Gains/(Losses) on non-trading (2) (2) (2) (2) (2) derivatives (22) (31) 53 (27) (8) Cost of Credit Hedges
Slide 10: Items of Note
Fourth Quarter, 2010 Investor Presentation Items of Note (Cont’d) Pre-Tax After-Tax EPS Effect Strategic Business Unit Q4 2009 Effect ($MM) Effect ($MM) ($/share) Gain on Structured Credit Run-off Activities 85 58 0.15 Wholesale Bkg Valuation Adjustments (42) (27) (0.07) Wholesale Bkg Mark-to-Market
Slide 11: Q4 Credit Review
Fourth Quarter, 2010 Investor Presentation Fourth Quarter, 2010 Risk Review Tom Woods Senior Executive Vice-President and Chief Risk Officer Q4 Credit Review Total Specific Provisions Gross Impaired Loans ($MM) ($MM) 2,042 1,836 297 215 Q3 Q4 Q3 Q4 F ‘10 F ‘10 F ‘10 F ‘10 22 11
Slide 12: Cards (Managed)
Fourth Quarter, 2010 Investor Presentation Cards (Managed) ($MM) 300 8.0% 7.0% 250 6.0% 200 5.0% 150 4.0% 248 224 218 3.0% 100 192 191 170 182 164 138 2.0% 130 50 106 101 114 1.0% 0 0.0% (1) (2) 2007 Q2/08 Q4/08 Q2/09 Q4/09 Q2/10 Q4/10 PCL Net Credit Loss Ratio • During Q4/09, we reclassified the sp
Slide 13: European Leveraged Finance
Fourth Quarter, 2010 Investor Presentation European Leveraged Finance As of Q4/10 Drawn Undrawn $MM Manufacturing 223 71 Hardware and software 219 21 Wholesale trade 198 9 Publishing and printing 36 8 Business services 14 16 Telecommunications 11 5 Transportation 10 10 Utilities 10 - Total net expos
Slide 14: Trading Revenue Days
Fourth Quarter, 2010 Investor Presentation Q4 Trading Revenue (TEB) Distribution (1) (2) Frequency Distribution of Daily Trading Revenue (TEB) for Q4 2010 Trading Revenue Days 18 16 14 12 10 8 6 4 2 0 (1) 0 1 2 3 4 5 6 7 8 More ($MM) (1) For further details, see Non-GAAP measures within the Notes to
Slide 15: Q&A
Fourth Quarter, 2010 Investor Presentation Fourth Quarter, 2010 Q&A 15