Canadian Imperial Bank Of Commerce · TSX:CM
Canadian Imperial Bank Of Commerce — CIBC — Q3 2010 Earnings Presentation
15 slides from Canadian Imperial Bank Of Commerce's earnings presentation, Aug 25, 2010
Slide 1: Third Quarter 2010 Investor Presentation
Third Quarter, 2010 Investor Presentation CIBC Investor Presentation August 25, 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 securiti
Slide 2: CIBC Overview
Third Quarter, 2010 Investor Presentation CIBC Overview Gerry McCaughey President and Chief Executive Officer Third Quarter, 2010 Financial Review David Williamson Senior Executive Vice-President and Chief Financial Officer 2
Slide 3: Q3 Summary
Third Quarter, 2010 Investor Presentation Q3 Summary $ Per Share EPS(1): $1.53 Includes(3)– Loss on Structured Credit Run-off (0.25) Cash EPS(2): $1.55 – Reversal of Provision for Credit Losses in the General Allowance 0.14 Tier 1 Capital (0.11) Ratio: 14.2% (4) TCE Ratio: 9.5% Operating Results Hel
Slide 4: CIBC Retail Markets Revenue Components
Third Quarter, 2010 Investor Presentation CIBC Retail Markets Revenue Components F ‘09 F ‘10 ($MM) Q3 Q4 Q1 Q2 Q3 Personal Banking 1,518 1,562 1,601 1,554 1,605 Business Banking 332 334 331 324 350 Wealth Management 318 337 346 345 336 FirstCaribbean 169 160 157 165 141 Other (19) (37) (33) (54) 40
Slide 5: CIBC Retail Markets Quarterly Statement of Operations
Third Quarter, 2010 Investor Presentation CIBC Retail Markets Quarterly Statement of Operations F ‘09 F ‘10 ($MM) Q3 Q4 Q1 Q2 Q3 Net Income Revenue 2,318 2,356 2,402 2,334 2,472 vs. Q3/09: Provision for + volumes up Credit Losses 417 362 365 334 304 + loan losses down Non-Interest (1) Expenses 1,310
Slide 6: Wholesale Banking Quarterly Statement of Operations
Third Quarter, 2010 Investor Presentation Wholesale Banking Quarterly Statement of Operations F ‘09 F ‘10 ($MM) Q3 Q4 Q1 Q2 Q3 Net Income Revenue 552 (1) 503 (1) 613 (1) 548(1) 315 (1) vs. Q2/10: Provision for + higher equity new (1) Credit Losses 129 82 24 27 29 issues revenue Non-Interest + lower
Slide 7: CIBC Retail Markets Balances
Third Quarter, 2010 Investor Presentation Third Quarter, 2010 Financial Review Appendix CIBC Retail Markets Balances (1) F ‘09 F ‘10 ($ B) Q3 Q4 Q1 Q2 Q3 Funds Managed: Cards, Outstanding (2) 13.8 13.9 14.0 13.9 13.8 Residential Mortgages & Personal Loans (2) 157.5 159.7 161.1 163.7 166.6 Consumer D
Slide 8: Wholesale Banking Market Share
Third Quarter, 2010 Investor Presentation Wholesale Banking Market Share (%) Canadian 14.4 13.3 14.3 11.7 12.7 Equity New Issues(1)(2) Equity Trading Canada - % 15.6 15.5 17.9 17.4 17.6 of shares Traded - Total(2)(3) 15.9 15.4 Corporate Debt 13.0 12.7 New Issues(4) 10.9 M&A Rank(5) #2 #2 #1 #1 #2 Q3
Slide 9: Items of Note
Third Quarter, 2010 Investor Presentation Items of Note Pre-Tax After-Tax EPS Effect Strategic Business Unit Q3 2010 Effect ($MM) Effect ($MM) ($/share) Loss on Structured Credit Run-off Activities (138) (96) (0.25) Wholesale Bkg Reversal of Provision for Credit Losses in the General Allowance 76 53
Slide 10: Non-GAAP Financial Measures
Third Quarter, 2010 Investor Presentation Non–GAAP Financial Measures Cash Earnings Per Share, Taxable Equivalent Basis & Managed Loans For further details, see Non-GAAP measures within the Notes to users section on page i of the Q3/10 Supplementary Financial Information available on www.cibc.com. 1
Slide 11: Q3 Credit Review
Third Quarter, 2010 Investor Presentation Q3 Credit Review Total Specific Provisions Gross Impaired Loans ($MM) ($MM) 2,042 1,968 332 297 Q2 Q3 Q2 Q3 F ‘10 F ‘10 F ‘10 F ‘10 21 U.S. Commercial Real Estate As of Q3/10 US$MM Gross Loans/BAs GILs Retail 630 33 Multi-family 405 134 Hotel 413 25 Multi-Us
Slide 12: European Leveraged Finance
Third Quarter, 2010 Investor Presentation European Leveraged Finance As of Q3/10 Drawn Undrawn $MM Manufacturing 214 76 Hardware and software 206 20 Wholesale trade 193 9 Publishing and printing 32 9 Business services 15 15 Telecommunications 12 13 Utilities 10 - Transportation 10 10 Total net expos
Slide 13: Cards and Coverage on Loan Portfolio
Third Quarter, 2010 Investor Presentation Cards (Managed) ($MM) 300 8.0% 7.0% 250 6.0% 200 5.0% 150 4.0% 248 224 218 3.0% 100 192 191 170 182 138 2.0% 130 50 106 101 114 1.0% 0 (1) 0.0% 2007 Q1/08 Q2/08 Q3/08 Q4/08 Q1/09 Q2/09 Q3/09 Q4/09 Q1/10 Q2/10 Q3/10 PCL Net Credit Loss Ratio • During Q4/09, w
Slide 14: Trading Revenue Days
Third Quarter, 2010 Investor Presentation Q3 Trading Revenue (TEB) Distribution (1) (2) Frequency Distribution of Daily trading Revenue (TEB) 18 for Q3 2010 16 Trading Revenue Days 14 12 10 8 6 4 2 0 (1) 0 1 2 3 4 5 6 7 8 More C $ MM (1) For further details, see Non-GAAP measures within the Notes to
Slide 15: Q&A
Third Quarter, 2010 Investor Presentation Third Quarter, 2010 Q&A 15