Canadian Imperial Bank Of Commerce · TSX:CM
Canadian Imperial Bank Of Commerce — CIBC — Q3 2011 Earnings Presentation
13 slides from Canadian Imperial Bank Of Commerce's earnings presentation, Aug 31, 2011
Slide 1: Third Quarter 2011 Investor Presentation
Third Quarter, 2011 Investor Presentation CIBC Investor Presentation August 31, 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 securiti
Slide 2: CIBC Overview / Financial Review
Third Quarter, 2011 Investor Presentation CIBC Overview Gerry McCaughey President and Chief Executive Officer Third Quarter, 2011 Financial Review Kevin Glass Senior Executive Vice-President and Chief Financial Officer 2
Slide 3: Q3 2011 Summary
Third Quarter, 2011 Investor Presentation Q3 2011 Summary $ Per Share EPS(1): $1.89 Includes(3): Cash EPS(2): $1.91 – Reduction in the General Allowance 0.06 – Loss on Structured Credit Run-off (0.03) – Premium on Preferred Share Redemptions (0.03) Tier 1 Capital Ratio: 14.6% TCE(2)(4) Ratio: 11.0%
Slide 4: Retail & Business Banking
Third Quarter, 2011 Investor Presentation Retail & Business Banking Revenue Components F ‘10 F ‘11 ($MM) Q3 Q4 Q1 Q2 Q3 Personal Banking 1,569 1,615 1,647 1,577 1,630 Business Banking 353 356 349 339 358 Other 40 (10) (16) (11) 31 1,962 1,961 1,980 1,905 2,019 vs. Q3/10: • Personal Banking helped by
Slide 5: Wealth Management
Third Quarter, 2011 Investor Presentation Wealth Management Revenue Components F ‘10 F ‘11 ($MM) Q3 Q4 Q1 Q2 Q3 Retail Brokerage 235 255 281 282 263 Asset Management 99 99 111 114 116 Private Wealth Management 26 24 24 24 25 360 378 416 420 404 vs. Q3/10: • Retail Brokerage helped by higher fee-base
Slide 6: Wholesale Banking
Third Quarter, 2011 Investor Presentation Wholesale Banking Revenue Components F ‘10 F ‘11 ($MM) Q3 Q4 Q1 Q2 Q3 Capital Markets 256 233 318 291 251 Corporate & Investment Banking 161 146 222 164 232 (1) (1) (1) (1) (1) Other (91) (115) (30) (17) 20 (2) Total Revenue (TEB) 326 264 510 438 503 Total R
Slide 7: Structured Credit Run-off
Third Quarter, 2011 Investor Presentation Structured Credit Run-off Q3/11 Pre-Tax After-Tax EPS Effect Effect ($MM) Effect ($MM) ($/share) [1] Credit Valuation Adjustments with Financial Guarantors (15) (11) (0.03) [2] Purchased Credit Derivatives Hedging Loans & Receivables 16 11 0.03 [3] Gains/(Lo
Slide 8: Retail, Business Banking & Wealth Management Balances & Market Share
Third Quarter, 2011 Investor Presentation Retail, Business Banking & Wealth Management Balances & Market Share (1) (2) Balances Market Share (%) ($B) Q2/11 Q3/11 Rank(3) Cards (4) 15.5 18.7 18.5 #1 Mortgages(4) 143.6 13.7 13.6 #2 Personal Lending 31.0 8.2 8.1 #5 Personal Deposits & GICs 108.1 16.6 1
Slide 9: Items of Note
Third Quarter, 2011 Investor Presentation Items Pre-Tax ofAfter-Tax Note EPS Effect Strategic Business Unit Q3 2011 Effect ($MM) Effect ($MM) ($/share) Reduction in the General Allowance 37 27 0.06 Corp. & Other Loss on Structured Credit Run-off Activities (18) (13) (0.03) Wholesale Bkg Premium on P
Slide 10: Risk Review
Third Quarter, 2011 Investor Presentation Third Quarter, 2011 Risk Review Tom Woods Senior Executive Vice-President and Chief Risk Officer Q3 Credit Review Total Loan Losses Total Specific Provisions ($MM) ($MM) 232 210 194 195 Q2 Q3 Q2 Q3 F ‘11 F ‘11 F ‘11 F ‘11 20 10
Slide 11: Cards (Managed) / U.S. Real Estate Finance
Third Quarter, 2011 Investor Presentation Cards (Managed) ($MM) 300 8.0% 7.0% 250 6.0% 200 5.0% 150 4.0% 248 224 218 3.0% 100 192 191 182 180 183 197 170 164 130 138 2.0% 50 1.0% 0 0.0% (1) Q3/08 Q1/09 Q3/09 Q1/10 Q3/10 Q1/11 Q3/11 PCL Net Credit Loss Ratio • During Q4/09, we reclassified the specif
Slide 12: Trading Revenue Days
Third Quarter, 2011 Investor Presentation European Leveraged Finance As of Q3/11 $MM Drawn Undrawn Total exposure(1) 471 97 U.S. Leveraged Finance As of Q3/11 $MM Drawn Undrawn Total exposure(1) 176 173 (1) Net of write-downs and allowance for credit losses 23 Q3 Trading Revenue (TEB) Distribution (
Slide 13: Tier Ratio Movement in Q3
Third Quarter, 2011 Investor Presentation Tier 1 Ratio Movement in Q3 0.76% (0.39%) (0.36%) Preferred 14.7% (0.36%) Shares 0.10% 14.6% Earnings Dividends 0.13% Other RWAs Capital Capital Issued Q2 Q3 F ‘11 F ‘11 25 Third Quarter, 2011 Q&A 13