Canadian Imperial Bank Of Commerce · TSX:CM

Canadian Imperial Bank Of Commerce — CIBC — Q1 2010 Earnings Presentation

14 slides from Canadian Imperial Bank Of Commerce's earnings presentation, Feb 25, 2010

  1. Slide 1: First Quarter 2010 Investor Presentation

    First Quarter, 2010 Investor Presentation CIBC Investor Presentation February 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 securi

  2. Slide 2: CIBC Overview

    First Quarter, 2010 Investor Presentation CIBC Overview Gerry McCaughey President and Chief Executive Officer First Quarter, 2010 Financial Review David Williamson Senior Executive Vice-President and Chief Financial Officer 2

  3. Slide 3: Q1 Summary

    First Quarter, 2010 Investor Presentation Q1 Summary $ Per Share EPS(1): $1.58 Includes(3) – Gain on Structured Credit Run-off 0.04 Cash EPS(2): $1.60 – MTM Losses on Corp. Loan Hedges (0.03) – Write-down of Future Tax Asset (0.06) Tier 1 Capital (0.05) Ratio: 13.0% Core Operating Results (vs. Q4/09

  4. Slide 4: CIBC Retail Markets Revenue Components

    First Quarter, 2010 Investor Presentation CIBC Retail Markets Revenue Components F ‘09 F ‘10 ($MM) Q1 Q2 Q3 Q4 Q1 Personal Banking 1,454 1,398 1,518 1,562 1,601 Business Banking 315 301 332 334 331 Wealth Management 323 297 318 337 346 FirstCaribbean 180 204 169 160 157 Other 103 23 (19) (37) (33) 2

  5. Slide 5: CIBC Retail Markets Quarterly Statement of Operations

    First Quarter, 2010 Investor Presentation CIBC Retail Markets Quarterly Statement of Operations F ‘09 F ‘10 ($MM) Q1 Q2 Q3 Q4 Q1 Net Income Revenue 2,375 2,223 2,318 2,356 2,402 vs. Q1/09: Provision for (1) + spreads up Credit Losses 278 325 417 362 365 + volumes up Non-Interest (1) Expenses 1,291 1

  6. Slide 6: Wholesale Banking Quarterly Statement of Operations

    First Quarter, 2010 Investor Presentation Wholesale Banking Quarterly Statement of Operations F ‘09 F ‘10 ($MM) Q1 Q2 Q3 Q4 Q1 Net Income Revenue (330)(1) (213)(1) 552 (1) 503 (1) 613 (1) vs. Q4/09: Provision for + lower valuation (1) Credit Losses (11) 18 129 82 24 adjustments Non-Interest + lower

  7. Slide 7: CIBC Retail Markets Balances

    First Quarter, 2010 Investor Presentation First Quarter, 2010 Financial Review Appendix CIBC Retail Markets Balances (1) F ‘09 F ‘10 ($ B) Q1 Q2 Q3 Q4 Q1 Funds Managed: Cards, Outstanding (2) 13.9 13.8 13.8 13.9 14.0 Residential Mortgages & Personal Loans (2) 152.2 154.3 157.5 159.7 161.1 Consumer D

  8. Slide 8: Wholesale Banking Market Share

    First Quarter, 2010 Investor Presentation Wholesale Banking Market Share (%) 17.7 Canadian 12.4 13.6 14.6 10.8 Equity New Issues(1)(2) Equity Trading 17.4 18.8 16.7 Canada - % 15.1 of shares 10.5 Traded - Total(3) 17.2 16.1 Corporate Debt 14.2 11.2 11.7 New Issues(4) M&A Rank(5) #1 #2 #2 #2 #1 Q1 Q2

  9. Slide 9: Items of Note

    First Quarter, 2010 Investor Presentation Items of Note Pre-Tax After-Tax EPS Effect Strategic Business Unit Q1 2010 Effect ($MM) Effect ($MM) ($/share) Gain on Structured Credit Run-off Activities 25 17 0.04 Wholesale Bkg Mark-to-Market on Credit Derivatives re. Corporate Loan Hedges (17) (12) (0.0

  10. Slide 10: Items of Note (Cont'd)

    First Quarter, 2010 Investor Presentation Items of Note (Cont’d) Pre-Tax After-Tax EPS Effect Strategic Business Unit Q2 2009 Effect ($MM) Effect ($MM) ($/share) Loss on Structured Credit Run-off Activities (475) (324) (0.85) Wholesale Bkg Mark-to-Market on Credit Derivatives re. Corporate Loan Hedg

  11. Slide 11: Q1 Credit Review

    First Quarter, 2010 Investor Presentation First Quarter, 2010 Risk Review Tom Woods Senior Executive Vice-President and Chief Risk Officer Q1 Credit Review Total Specific Provisions Gross Impaired Loans ($MM) ($MM) 1,911 1,926 408 357 Q4 Q1 Q4 Q1 F ‘09 F ‘10 F ‘09 F ‘10 22 11

  12. Slide 12: U.S. Commercial Real Estate

    First Quarter, 2010 Investor Presentation U.S. Commercial Real Estate As of Q1/10 US$MM Gross Loans/BAs GILs Retail 612 34 Multi-family 400 101 Hotel 391 25 Multi-Use 375 98 Office 177 - Other 181 56 Q1/10 Total 2,136 315 23 Cards (Managed) ($MM) 300 8.0% 7.0% 250 6.0% 200 5.0% 150 4.0% 248 224 218

  13. Slide 13: Coverage on Loan Portfolio

    First Quarter, 2010 Investor Presentation Coverage on Loan Portfolio Specific Allowance as % of GILs 60.0% 60.0% 50.0% 50.0% CIBC 40.0% 40.0% 30.0% Peer Average* 30.0% 20.0% 20.0% 10.0% 10.0% 0.0% 0.0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 F ‘08 F ‘09 F ‘10 * Based on public disclosure of major Canadian peer b

  14. Slide 14: Tier Ratio Movement in Q1

    First Quarter, 2010 Investor Presentation Tier 1 Ratio Movement in Q1 0.11% (0.32%) 0.60% 13.0% Capital Issued Dividends 0.56% Credit 12.1% RWA Earnings Q4 Q1 F’09 F’10 27 First Quarter, 2010 Q&A 14

CIBC — Q1 2010 Earnings Presentation on 6ix