A brief review of selected key performance indicators for the top 6 Canadian banks, for FY 2018.

2. Contents
Overview 3.
Key Performance Indicators 4.
Total Revenue 5.
Net Income 6.
Return on Equity 7.
Earnings Per Share 8.
Summation 9.
2

3. Canada's Top 6 Banks – Continued growth in an
increasingly volatile environment
Highlights
• The top 6 Canadian banks collectively grew their net income
by around 7.4% vs. FY 2017, with the smaller banks (CIBC and
National Bank) leading on a % growth basis
• National Bank and RBC led in terms of % ROE (return on
equity), while TD showed the greatest % growth in ROE vs.
2017
• CIBC led in terms of reported EPS (earnings per share), with
RBC showing the greatest improvement vs. 2017
3

4. Key Performance Indicators
The key performance indicators for
the top 6 banks reported here are:
• Total Revenue
• Net Income
• ROE (Return on Equity)
• EPS (Earnings per Share)
The following charts show how
each bank performed in a
universe of top 6 bank results.
(Sources: Reported Top 6 Banks’ FY 2018
results*)
4
* The banks’ fiscal year is Nov 1- Oct 31

5. Top 6 Banks – FY 2018 % Share of Top 6 Revenue
• As in previous years, RBC led in total annual revenue, closely followed by TD Bank
• It was the smaller banks, however, that showed the greatest % revenue growth vs. FY 2017
5
RBC
TD
SCOTIA
BMO
CIBC
NATIONAL BANK
27%
25%
18%
15%
11%
5%
FY 2018 % Share of Top 6 Bank Revenue
CIBC
NATIONAL BANK
TD
SCOTIA
RBC
BMO
9.5
8.4
7.4
6.0
4.7
3.5
Top 6 Cdn Banks Total Revenue - FY 2018
% Change vs. Year ago
Total Revenue $MM - FY 2018 $MM - FY 2017 % Change VYA Total Revenue % Share of Top 6
RBC $42,576.0 $40,669.0 4.7 RBC 27%
TD $38,834.0 $36,149.0 7.4 TD 25%
Scotia $28,775.0 $27,155.0 6.0 Scotia 18%
BMO $23,037.0 $22,260.0 3.5 BMO 15%
CIBC $17,834.0 $16,280.0 9.5 CIBC 11%
National Bank $7,166.0 $6,609.0 8.4 National Bank 5%
Top 6 banks $158,222.0 $149,122.0 6.1 Top 6 banks 100%

6. Top 6 Banks – FY 2018 % Share of Top 6 Net Income
6
• As expected, RBC and TD led the top six in FY 2018 net income
• As with total revenue, the smaller banks grew net income the most on a % basis, with CIBC leading the pack
and practically matching its larger rival BMO
27%
25%
19%
12% 12%
5%
RBC TD Scotia BMO CIBC National
Bank
FY 2018 Reported Net Income -
% Share of Total Top 6 Cdn Banks
12.0
10.3
8.4
7.8
5.8
1.9
CIBC National Bank RBC TD Scotia BMO
Top 6 Cdn Banks FY 2018
Reported Net Income: % Change VYA
Reported Net Income $ - FY 2018 $ - FY 2017 % Change VYA Reported Net Income % Share of Top 6
RBC $12,431.0 $11,469.0 8.4 RBC 27%
TD $11,334.0 $10,517.0 7.8 TD 25%
Scotia $8,724.0 $8,243.0 5.8 Scotia 19%
BMO $5,450.0 $5,350.0 1.9 BMO 12%
CIBC $5,284.0 $4,718.0 12.0 CIBC 12%
National Bank $2,232.0 $2,024.0 10.3 National Bank 5%
Top 6 banks $45,455.0 $42,321.0 7.4 Top 6 banks 100%

7. Top 6 Banks – FY 2018 Return on Equity (ROE)
7
• National Bank and RBC led in 2018 % ROE, while TD showed the greatest improvement vs. FY 2017
• CIBC showed the greatest % decline in ROE vs. FY 2017
CIBC
105
100
94
89
82
75
National
Bank
RBC CIBC TD Scotia BMO
Top 6 Cdn Banks FY 2018 ROE
(Index - RBC = 100)
Reported ROE - % % - FY 2018 % - FY 2017 % Change VYA ROE - % Index-RBC = 100
RBC 17.6 17.0 3.5 RBC 100
TD 15.7 14.9 5.4 TD 89
Scotia 14.5 14.6 -0.7 Scotia 82
BMO 13.2 13.3 -0.8 BMO 75
CIBC 16.6 18.3 -9.3 CIBC 94
National Bank 18.4 18.1 1.7 National Bank 105

8. Top 6 Banks - FY 2018 Earnings Per Share (EPS)
• Preventing a clean sweep
by RBC, National Bank led
in Earnings per Share (EPS)
• Both CIBC and RBC
however posted significant
improvements vs. Q3 2011
8
• CIBC led the top six banks in terms of 2018 EPS, while RBC showed the greatest improvement vs. 2017
10.6 10.4
9.3
5.1
3.6 3.2
RBC National
Bank
TD Scotia CIBC BMO
Top 6 Cdn Banks - FY 2018
EPS % Change VYA
Reported EPS (diluted) $ - FY 2018 $ - FY 2017 % Change VYA EPS Index-RBC = 100
RBC $8.36 $7.56 10.6 RBC 100
TD $6.01 $5.50 9.3 TD 72
Scotia $6.82 $6.49 5.1 Scotia 82
BMO $8.17 $7.92 3.2 BMO 98
CIBC $11.65 $11.24 3.6 CIBC 139
National Bank $5.94 $5.38 10.4 National Bank 71
$11.65
$8.36 $8.17
$6.82
$6.01 $5.94
CIBC RBC BMO Scotia TD National
Bank
Reported EPS - FY 2018

9. SOURCES: Top six Canadian Bank annual reports
Financial Post –
https://business.financialpost.com/news/fp-street/low-hanging-fruit-already-plucked-big-banks-face-slowing-economy-heading-into-fiscal-2019
https://business.financialpost.com/news/fp-street/update-2-scotiabank-to-exit-nine-countries-in-caribbean-shake-up

10. Deepak Pershad, Principal
dpershad@insightsbydesign.ca
www.insightsbydesign.ca
• Marketing analysis
• Business writing
• Content development