morning, everyone. good and Brian, you, Thank
that adjusted basis my amounts. slide business and be begin of divestiture acquisitions excludes line I’ll comments All results on will that follow discussion the including an six. on related
the The the adjustment diluted Puerto to delivered divestiture relates respectively, last X%, after for this of significant billion Bank year. loss compared up and announced the in million. quarter, quarter Rico The and tax EPS $X.XX to of on $X.X $XXX of X% earnings most
offset and commercial with of activities the X% in XX retail Canadian by from retail IFRS growth both deposits auto, excluding interest of interest and in and impact Banking growth impact translation. loans Net lower asset/liability about Banking. increases foreign up the mostly was contributions increase and or revenues. year driven lending acquisitions last These in X%, impact negative Also of management from and were acquisitions. International net XX% commercial from was the cars, to increased strong noninterest income income the currency in Revenue partly and contributing
of lower, X by The year, and Banking versus activities asset/liability core point curve impact Global lower driven acquisitions, change higher Canadian on management mix and the of slightly compared basis a flattening yield the Banking partly rate was driven from last Markets was margin Bank in the This our margins and margins prior in year. from banking by Canada. increases last the by business in in International Banking by offset to
and by primarily to The partly banking, investments fees income impact the growth from corporations. adoption year this driven growth underwriting of acquisitions. trading Banking largely the with The by impact of last by were associated and Global of was of revenues, Noninterest the the by offset from up income wealth offset and XX% lower was half by approximately XX. lower grew year-over-year. increase gains in This compared adoption XX. acquisitions, driven remaining driven of XX% IFRS IFRS higher from management Expenses and was revenues Markets, partly
expenses and of requirements, rose year-over-year, impact investments amortization, these to the other regulatory development Excluding primarily initiatives, due items, technology advertising expenses. meet X% the employee Bank’s costs, to business
to quarter. and Bank’s ratio improved this positive operating again basis XX levers The points XX.X% productivity achieved
Excluding XXXX benefit, leverage the of Bank’s year-to-date negative improved the to pension the revaluation has X.X%. operating impact
points, up but points The basis improving X total X was PCL XX quarter-over-quarter, by basis points ratio year-over-year. basis
loans up last from points, year. XX basis impaired on ratio XX basis PCL points Our was
with Our XX% line tax remained XX% outlook in to rate of our through XXXX.
The benefits we On slide Tier Bank was discount XX and of the in offset points share of CET employee the provided buybacks. post-retirement XX.X%, and reported impacted approximately XX Strong internal up by of seven, increased over capital a X by our that ratio rate basis Equity Common evolution changes partly ratio generation pension last capital liability points. was basis the quarter. X quarter continued
shares price shares. first quarter has year-to-date XXXX million up XX May to X.X Since Risk-weighted assets million basis of repurchased and and common million our XX on of the modest We we when year. at the average last were Bank a flat or quarter-over-quarter, year-to-date X% an closed cancelled compared per acquisition repurchased during $XX.XX Jarislowsky shares share. a Fraser,
capital benefit have points Tier to the from ratio divestitures basis XX.X%. forma approximately Common our close, yet pro by that non-core Including announced would X increase Equity the XX to
risk-weighted management strong pleased of capital driven capital, pace asset growth, non-core of of divestitures by rebuild with regeneration, internal businesses. We’re the prudent of and the our
slide eight. net Turning X% adjusted now to income on Canadian beginning the Banking results, up $X.X year-over-year. billion, business of line reported to
As XX, retail disclosed X%, earnings lending, the grew personal residential by mortgages the credit X%, lending X%. of gains impact X%. growth Meanwhile, reduced In on approximately XX%. real loans slide and division’s business cards estate lower grew
finish housing the low market year non-personal outpaced personal and Deposits slower at the growth Given driven volume asset the XX%, to growth. start and strong XXXX, deposits both expect grew mortgages. we digit in a single by in to
by and prior was Bank rate increases basis impact of The net quarter-over-quarter interest by of margin points Canada. driven up year-over-year, X the the
We to management up modestly income partly fees, our estate line the the gains. expect in of stable wealth be Non-interest acquisitions by with fee margins to income credit from due was offset guidance. for IFRS lower XX the higher year, impact and balance real X% higher of to prior and
of Canadian earnings we in AUM appreciation. reflecting delivered Management co-businesses. adjusted guided XX% with acquisitions, Banking recent by Canadian leverage XX% prudent operating through XXX growth previously was positive and year-over-year, the increased sequential positive strong the as expense basis revenue. and growth by management from Wealth committed, up increase contributions points well over as net have market sales driven year-over-year, strong, as
grew a expenses XX, Excluding portfolio Meanwhile, last X%, higher due XX.X%. changes. to commercial were XX due recoveries reported quarter-over-quarter ratio provisions to compared the mix impact down retail IFRS provisions On to X%. M&A were of points in Canadian year. basis PCLs improvements productivity Banking’s mainly to year, compared quality. last largely basis, and The a credit higher due lower to PCLs modest to improved
International of of in strong Alliance, XX% loan year-over-year, by the the to Turning million growth Pacific driven Banking. next acquisitions slide income. higher impact Earnings noninterest and on $XXX up were
of businesses Latin operations the XX% growth earnings as capital markets were strong with driven strong also in in our Our acquisitions. as America banking GBM corporate year-over-year, impact by very up and well
adjusted an net consent that and My basis. income and with XX% XX%. income growing Revenue are results noninterest dollar a on interest on follow grew up strong XX% comments based
XX% countries Alliance that Pacific year-over-year Our impact grew revenues the included of by acquisitions.
of declined driven points we the points year-over-year basis strong Pacific higher impact points was lower that Margins higher of some plus the Alliance, quality, reflecting XXX grew the previously by is quarter closed to. Mexico as country. business X% this business guided acquisition deposits which have XX well on asset outpaced the a minus basis QX deposit as that in margin within that mix compression XX of in This XXXX, sequentially In margin growth. funds the Chile cost and in basis or
driven and banking be higher the quarters expense volume the growth improving by to line remaining by XXX of driven inflations. from associated points in acquisitions for increased growth three Noninterest ratio corps, Operating the to quarter. at some gains. expense contributed the investment by continued leverage with revenues positive fees, higher higher and growth, and acquisitions, X.X% was with Approximately business contribution the income growth productivity regulatory management impact was Prudent cost year-over-year. strong trading basis of
and International in year-over-year year-over-year market Banking growth. Latin global higher compared last segment, XX% Moving to to markets. slide financing client America $XXX year. GBM Net was which million are reported of challenging results, double-digit and banking our strong income due activity expenses more lower to down reflected XX, conditions,
growth Canada. was continued loan XX% reflecting up Corporate and year-over-year, U.S. the in growth
M&A addition, In corporate strong. lending pipelines remained and
customer sheet, resulted very margin X.XX%. impressive net declined The income balance are interest the On compression margin to interest and primarily the deposits XX net points year-over-year. and from basis of other was deposits rates. net up by interest side strong margin in approximately growth customer our market XX%. down Both a declining The
trading foreign We year-over-year support and of QX was equity financial underwriting requirements, space. regulatory transactions manage as large Noninterest in as costs benefited by advisory provided had last the The as technology income strong Expenses to were couple well guidance year the infrastructure that a and was a driven with in and shorter increase flat seasonally compliance regulatory, risk operations, is by currency last line higher offset we to and of of in and quarter X% unfavorable growth stable the year-over-year. income impact modest translation. from the our quarter. and energy
the I’ll net impact management the versus net asset/liability results to operating loss of Other treasury, The Contributions smaller group last higher Other and now asset/liability which taxes. slide also lower activities smaller results and on the due management a segment mainly divestitures, XX, investment incorporates reported the units gains segment certain include on corporate adjustments. versus activities. were last year, year. and The lower to loss from of
to positive due asset/liability However, contributions activities. sequentially, and reported mainly lower loss, investment from a management gains higher segment Other the
I’ll now Daniel, discuss to will who turn risk it over management.
