Financial Overview and Sector Exposure
APPENDIX 3 | WEALTH MANAGEMENT
Wealth Management Summary Results - Q1 2022
($MM)
Q1 22
Q4 21
Q1 21
QoQ
YOY
Revenues
592
561
518
6%
14%
Fee-Based
372
357
304
4%
22%
Transaction & Others
101
90
105
12%
(4%)
Net Interest Income
119
114
109
4%
9%
Non-Interest Expenses
352
338
305
4%
15%
Pre-Tax / Pre-Provisions
PCL
240
223
213
8%
13%
1
(2)
Net Income
176
163
158
8%
11%
Key Metrics ($B)
Q1 22
Q4 21
Q1 21
QoQ
YOY
Avg Loans & BAS
7.0
6.6
5.4
6%
29%
Avg Deposits
34.0
33.7
34.9
1%
(2%)
Assets Under Administration
654.5
651.5
559.2
0.5%
17%
Assets Under Management
118.2
117.2
Efficiency Ratio (%)
59.5%
60.2%
97.1
58.9%
0.9%
22%
-70 bps +60 bps
Assets Under Administration (1)
($B)
559
■ Net income up 11% YoY and 8% QoQ from
strong business performance
Strong growth in fee-based revenues driven by
full-service brokerage and mutual fund sales
- Resilient transaction revenues
Expenses up 15% YoY, mostly related to higher
variable comp
- Shift in revenue growth mix (from higher
transaction to higher fee-based) increases
variable costs
- Additional FTE to support growth
- Q1 efficiency ratio <60%
Assets Under Management (1)
($B)
+ 17% YoY
+ 0.5% QoQ
+ 22% YoY
+ 0.9% QoQ
62
5
10
2
11
34
(2)
655
652
655
118
(1)
117
118
97
Q1 21
Net Sales Market Q1 22
Q4 21
Net Sales Market
Q1 22
Q1 21
Net Sales Market
Q1 22
Q4 21
Net Sales Market
Q1 22
(1) This is a non-GAAP measure. See slide 2.
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