Five Year Financial Summary (1) ($ thousands, except per share amounts)
2021
2020 (6)
2019 (7)
2018
2017
Results of Operations Net interest income Non-interest income
$
892,363 123,670
$
799,411 97,984 897,395 469,318 248,956
$
785,584 76,020 861,604 461,130 266,940
$
724,990 78,368 803,358 436,188 249,256
$
642,390 84,245 726,635 388,729 214,277
1,016,033
Total revenue
517,149 327,471
Pre-tax, pre-provision income (1) Common shareholders’ net income
Common Share Information Earnings per share Basic
3.74 3.73 3.81 1.16
2.86 2.86 2.93 1.15
3.05 3.04 3.15 1.08
2.81 2.79 3.01 1.00
2.43 2.42 2.63 0.93
Diluted
Adjusted (1)
Cash dividends paid
33.10
Book value (1) Market price High
31.76
29.29
26.09
24.82
40.21 24.37 39.59
36.61 15.70 24.50
33.89 24.33 33.35
40.83 29.81 30.62
37.36 23.68 36.34
Low
Close
89,390
Common shares outstanding (thousands) Performance Measures (1) Return on common shareholders’ equity Adjusted return on common shareholders’ equity
87,100
87,250
88,952
88,494
11.6 %
9.3 %
10.9 %
11.0 %
10.1 %
11.8 0.92 2.49 49.1
9.5
11.3 0.88 2.60 46.5
11.9 0.89 2.60 45.7
11.0 0.85 2.56 46.5
Return on assets Net interest margin
0.76 2.45 47.7
Efficiency ratio
Credit Quality (1) Provision for credit losses on total loans as a percentage of average loans (2) Provision for credit losses on impaired loans as a percentage of average loans (2)
0.09
0.32
0.21
0.20
0.23
0.17
0.18
0.21
0.19
0.19
Balance Sheet Assets
$ 37,323,176
$ 33,937,865
$ 31,424,235
$ 29,021,463
$ 26,447,453
32,759,522 29,975,739 3,015,065 3,533,885
Loans (3) Deposits
30,008,393 27,310,354 2,424,323 3,331,538
28,365,893 25,351,361 2,412,293 2,945,810
26,204,599 23,699,957 2,007,854 2,585,752
23,229,239 21,902,982 1,476,336 2,461,045
Debt
Shareholders’ equity
Off-Balance Sheet Wealth Management Assets under management
7,818,170 2,936,035 14,031,042
6,229,674 2,224,839 11,081,581
2,099,569
2,100,802
2,114,861
Assets under advisement and administration
361,900
336,437
401,624
Assets under administration - other (4)
8,936,845
8,032,280
10,006,388
Capital Adequacy (5) Common equity Tier 1 ratio
8.8 %
8.8 %
9.1 %
9.2 %
9.5 %
10.8 12.4
Tier 1 ratio Total ratio
10.9 12.6
10.7 12.8
10.3 11.9
10.8 12.5
Other Number of full-time equivalent staff
2,617
2,505
2,278
2,178
2,058
(1) Non-GAAP measure – refer to definitions and detail provided on page 18. (2) Includes provisions for credit losses on loans, committed but undrawn credit exposures and letters of credit. (3) Net of allowance for credit losses. (4) Comprised of trust assets under administration, third-party leases under administration and loans under service agreements. (5) C alculated using the Standardized approach in accordance with guidelines issued by the Office of the Superintendent of Financial Institutions Canada (OSFI).
(6) Results for periods beginning on or after November 1, 2019 have been prepared in accordance with IFRS 16 Leases . Prior year comparatives have been prepared in accordance with IAS 17 Leases and have not been restated. (7) R esults for periods beginning on or after November 1, 2018 have been prepared in accordance with IFRS 9 Financial Instruments . Prior year comparatives have been prepared in accordance with IAS 39 Financial Instruments: Classification and Measurement and have not been restated.
CWB Financial Group 2021 Annual Report | 111
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