Five Year Financial Summary (1) ($ thousands, except per share amounts)
2022
2021
2020 (7)
2019 (8)
2018
Results of Operations Net interest income Non-interest income
$
939,976 136,311
$
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
1,076,287
1,016,033
Total revenue
521,903 310,302
517,149 327,471
Pre-tax, pre-provision income (1) Common shareholders’ net income
Common Share Information Earnings per share Basic
3.39 3.39 3.62 1.22
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
Diluted
Adjusted (1)
Cash dividends paid
33.48
33.10
Book value (1) Market price High
31.76
29.29
26.09
41.56 21.21 23.70
40.21 24.37 39.59
36.61 15.70 24.50
33.89 24.33 33.35
40.83 29.81 30.62
Low
Close
94,326
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
10.1 %
11.6 %
9.3 %
10.9 %
11.0 %
10.8 0.79 2.41 51.5
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
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)
0.14
0.09
0.32
0.21
0.20
0.10
0.17
0.18
0.21
0.19
Balance Sheet Assets
$ 41,440,143
$ 37,323,176
$ 33,937,865
$ 31,424,235
$ 29,021,463
35,743,804 33,019,047 3,461,899 3,732,976
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
Debt
Shareholders’ equity
Off-Balance Sheet Wealth Management (4) Assets under management and administration
7,825,003 1,824,961 13,943,199
8,687,136 2,067,069 14,031,042
6,577,513 1,877,000 11,081,581
2,461,469
2,437,239
Assets under advisement (5)
-
-
Assets under administration - other
8,936,845
8,032,280
Capital Adequacy (6) Common equity Tier 1 ratio
8.8 %
8.8 %
8.8 %
9.1 %
9.2 %
10.6 12.1
10.8 12.4
Tier 1 ratio Total ratio
10.9 12.6
10.7 12.8
10.3 11.9
Other Number of full-time equivalent staff
2,712
2,617
2,505
2,278
2,178
(1) Non-GAAP measure – refer to definitions and detail provided on page 16. (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) Certain comparative figures have been reclassified to conform with the current period’s presentation. (5) P rimarily comprised of assets under advisement related to our Indigenous Services wealth management business. (6) Calculated using the Standardized approach in accordance with guidelines issued by the Office of the Superintendent of Financial Institutions Canada (OSFI).
(7) 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. (8) 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 2022 Annual Report | 111
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