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 |
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Financial highlights(1) |
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 |
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(C$ millions, except per share, |
Change |
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number and percentage amounts) |
2004/2003 |
|
|
2004 |
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|
2003 |
|
|
2002 |
|
|
2001 |
|
|
2000 |
|
|
 |
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Earnings |
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|
Net interest income |
2 |
% |
$ |
6,684 |
|
$ |
6,578 |
$ |
|
6,869 |
$ |
|
6,291 |
|
$ |
5,195 |
|
|
|
Non-interest income |
3 |
|
|
10,666 |
|
|
10,369 |
|
|
10,191 |
|
|
9,514 |
|
|
7,536 |
|
|
|
Total revenues |
2 |
|
|
17,350 |
|
|
16,947 |
|
|
17,060 |
|
|
15,805 |
|
|
12,731 |
|
|
|
Provision for credit losses |
(51 |
) |
|
347 |
|
|
715 |
|
|
1,065 |
|
|
1,119 |
|
|
691 |
|
|
|
Insurance policyholder benefits, |
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claims and acquisition
expense |
7 |
|
|
1,509 |
|
|
1,404 |
|
|
1,330 |
|
|
1,153 |
|
|
772 |
|
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|
Non-interest expense |
8 |
|
|
11,020 |
|
|
10,236 |
|
|
10,244 |
|
|
9,603 |
|
|
7,628 |
|
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|
Business realignment charges |
n.m |
. |
|
192 |
|
|
– |
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|
– |
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|
– |
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|
– |
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Goodwill impairment |
n.m |
. |
|
130 |
|
|
– |
|
|
– |
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|
38 |
|
|
– |
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Net income |
(6 |
) |
|
2,839 |
|
|
3,036 |
|
|
2,898 |
|
|
2,435 |
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|
2,208 |
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|
Return on common equity (ROE) |
(110 |
)bp |
|
15.9% |
|
|
17.0% |
|
|
16.6% |
|
|
16.6% |
|
|
19.3% |
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Balance sheet data |
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Loans (before allowance for loan losses) |
10 |
% |
$ |
189,154 |
|
$ |
172,547 |
$ |
|
170,269 |
$ |
|
169,646 |
$ |
|
156,184 |
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|
Assets |
9 |
|
|
447,682 |
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|
412,591 |
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|
382,000 |
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|
362,562 |
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|
294,173 |
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Deposits |
4 |
|
|
271,575 |
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|
260,518 |
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|
245,040 |
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|
235,687 |
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|
206,237 |
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Subordinated debentures |
29 |
|
|
8,522 |
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|
6,581 |
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|
6,960 |
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|
6,861 |
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|
5,825 |
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Common equity |
1 |
|
|
17,562 |
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|
17,304 |
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|
17,240 |
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|
16,215 |
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|
11,296 |
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Capital ratios (Canadian basis) |
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Tier 1 capital |
(80 |
)bp |
|
8.9% |
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9.7% |
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|
9.3% |
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|
8.7% |
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|
8.6% |
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Total capital |
(40 |
) |
|
12.4 |
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|
12.8 |
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12.7 |
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11.8 |
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12.0 |
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Common equity to risk-adjusted assets |
(100 |
) |
|
9.5 |
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|
10.5 |
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10.4 |
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9.4 |
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7.3 |
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Common share information |
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Shares outstanding (in thousands) |
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End of year |
(2 |
)% |
|
644,748 |
|
|
656,021 |
|
|
665,257 |
|
|
674,021 |
|
|
602,398 |
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|
Average basic |
(2 |
) |
|
646,023 |
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|
662,080 |
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|
672,571 |
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|
641,516 |
|
|
606,389 |
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|
Average diluted |
(2 |
) |
|
656,047 |
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|
669,625 |
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|
679,153 |
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|
647,216 |
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|
609,865 |
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Earnings per share |
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Basic |
(4 |
) |
$ |
4.31 |
|
$ |
4.47 |
|
$ |
4.16 |
|
$ |
3.58 |
|
$ |
3.42 |
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Diluted |
(4 |
) |
|
4.25 |
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|
4.42 |
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|
4.12 |
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|
3.55 |
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|
3.40 |
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Share price |
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High |
1 |
|
|
65.90 |
|
|
65.00 |
|
|
58.89 |
|
|
53.25 |
|
|
48.88 |
|
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Low |
9 |
|
|
58.04 |
|
|
53.26 |
|
|
45.05 |
|
|
41.60 |
|
|
27.25 |
|
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|
Close |
– |
|
|
63.40 |
|
|
63.48 |
|
|
54.41 |
|
|
46.80 |
|
|
48.30 |
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|
|
Dividends per share |
17 |
|
|
2.02 |
|
|
1.72 |
|
|
1.52 |
|
|
1.38 |
|
|
1.14 |
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|
Book value per share – year-end |
4 |
|
|
27.49 |
|
|
26.38 |
|
|
25.91 |
|
|
24.06 |
|
|
18.75 |
|
|
|
Market capitalization (C$ billions) |
(2 |
) |
|
40.9 |
|
|
41.6 |
|
|
36.2 |
|
|
31.5 |
|
|
29.1 |
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Number of: |
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|
Employees (full-time equivalent) |
1,754 |
|
|
62,566 |
|
|
60,812 |
|
|
59,549 |
|
|
57,568 |
|
|
49,232 |
|
|
|
Automated banking machines |
(29 |
) |
|
4,372 |
|
|
4,401 |
|
|
4,486 |
|
|
4,548 |
|
|
4,517 |
|
|
|
Service delivery units |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Canada |
(52 |
) |
|
1,245 |
|
|
1,297 |
|
|
1,311 |
|
|
1,317 |
|
|
1,333 |
|
|
|
|
International |
51 |
|
|
839 |
|
|
788 |
|
|
807 |
|
|
724 |
|
|
306 |
|
|
|
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| |
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| |
(1) |
|
Financial information is derived from
U.S. GAAP consolidated financial statements, unless otherwise noted.
Select definitions are available in the Glossary on pages 121 and
122. |
| |
(2) |
|
Return on equity is defined in the
Glossary on page 122. |
| |
(3) |
|
Calculated using guidelines issued
by the Superintendent of Financial Institutions Canada and Canadian
GAAP financial information. |
| |
(4) |
|
Basic and diluted earnings per share
for 2003 have been restated to reflect a reduction of one cent per
share as a result of adopting EITF 03-6 during 2004. See Note 1 on
page 83 for details. |
| |
(5) |
|
Intraday high and low share prices. |
 |
