Canadian Imperial Bank Of Commerce · TSX:CM
Canadian Imperial Bank Of Commerce — CIBC — Q1 2011 Earnings Presentation
12 slides from Canadian Imperial Bank Of Commerce's earnings presentation, Feb 24, 2011
Slide 1: First Quarter, 2011 Investor Presentation
First Quarter, 2011 Investor Presentation CIBC Investor Presentation February 24, 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 securi
Slide 2: CIBC Overview
First Quarter, 2011 Investor Presentation CIBC Overview Gerry McCaughey President and Chief Executive Officer First Quarter, 2011 Financial Review David Williamson Senior Executive Vice-President and Chief Financial Officer 2
Slide 3: Q1 Summary
First Quarter, 2011 Investor Presentation Q1 Summary $ Per Share EPS(1): $1.92 Includes(3)– Loss on Structured Credit Run-off (0.12) Cash EPS(2): $1.94 – Gain on sale re. CIBC Mellon 0.09 (0.03) Tier 1 Capital Ratio: 14.3% TCE(2)(4) Ratio: 10.2% Core Operating Results Helped by: – Higher Wholesale B
Slide 4: CIBC Retail Markets
First Quarter, 2011 Investor Presentation CIBC Retail Markets Revenue Components F ‘10 F ‘11 ($MM) Q1 Q2 Q3 Q4 Q1 Personal Banking 1,601 1,554 1,605 1,653 1,682 Business Banking 331 324 350 355 348 Wealth Management 346 345 336 355 393 FirstCaribbean 157 165 141 127 129 Other (33) (54) 40 (10) (16)
Slide 5: Wholesale Banking
First Quarter, 2011 Investor Presentation Wholesale Banking Revenue Components F ‘10 F ‘11 ($MM) Q1 Q2 Q3 Q4 Q1 Capital Markets 277 275 241 218 304 Corporate & Investment Banking 212 132 146 136 196 (1) (1) (1) (1) (1) Other 132 149 (61) (90) 10 (2) Total Revenue (TEB) 621 556 326 264 510 Total Reve
Slide 6: Structured Credit Run-off
First Quarter, 2011 Investor Presentation Structured Credit Run-off Q1/11 Pre-Tax After-Tax EPS Effect Effect ($MM) Effect ($MM) ($/share) [1] Credit Valuation Adjustments with Financial Guarantors 27 19 0.05 [2] Purchased Credit Derivatives Hedging Loans & Receivables (70) (50) (0.13) [3] Gains/(Lo
Slide 7: CIBC Retail Markets Balances & Market Share
First Quarter, 2011 Investor Presentation CIBC Retail Markets Balances & Market Share(1) (2) Balances Market Share ($B) (%) Rank Cards(3) 15.8 18.7 #1 Mortgages(3) 138.5 13.7 #2 Personal Lending 30.5 8.3 #5 Personal Deposits & GICs 106.0 16.6 #3 Business Deposits 31.3 14.0 #3 Business Lending 30.7 1
Slide 8: Items of Note
First Quarter, 2011 Investor Presentation Items of Note Pre-Tax After-Tax EPS Effect Strategic Business Unit Q1 2011 Effect ($MM) Effect ($MM) ($/share) Loss on Structured Credit Run-off Activities (68) (49) (0.12) Wholesale Bkg Gain on sale of CIBC Mellon Trust Company's Issuer Services business 43
Slide 9: Risk Review
First Quarter, 2011 Investor Presentation First Quarter, 2011 Risk Review Tom Woods Senior Executive Vice-President and Chief Risk Officer Q1 Credit Review Total Specific Provisions Gross Impaired Loans ($MM) ($MM) 1,836 1,829 226 215 Q4 Q1 Q4 Q1 F ‘10 F ‘11 F ‘10 F ‘11 18 9
Slide 10: Cards (Managed)
First 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% 100 192 191 182 170 180 164 138 2.0% 130 114 50 101 1.0% 0 0.0% (1) Q1/08 Q3/08 Q1/09 Q3/09 Q1/10 Q3/10 Q1/11 PCL Net Credit Loss Ratio • During Q4/09, we reclassified the specif
Slide 11: Trading Revenue Days
First Quarter, 2011 Investor Presentation U.S. Leveraged Finance As of Q1/11 $MM Drawn Undrawn (1) Total exposure 191 284 European Leveraged Finance As of Q1/11 $MM Drawn Undrawn (1) Total exposure 694 138 (1) Net of write-downs and allowance for credit losses 21 Q1 Trading Revenue (TEB) Distributio
Slide 12: Tier Ratio Movement in Q1
First Quarter, 2011 Investor Presentation Tier 1 Ratio Movement in Q1 0.75% (0.36%) 0.14% (0.11%) (0.04%) 14.3% Dividends Capital Other RWAs Issued Capital 13.9% Earnings Q4 Q1 F ‘10 F ‘11 23 First Quarter, 2011 Q&A 12