Annual Report 2016

Consolidated Financial Statements

Consolidated Statement of Income

For the Year Ended October 31 (Canadian $ in millions, except as noted) 2016   2015   2014

The accompanying notes are an integral part of these consolidated financial statements.

Certain comparative figures have been reclassified to conform with the current year’s presentation.

Interest, Dividend and Fee Income

           
Loans $ 12,575 $ 11,263 $ 10,997
Securities (Note 3 PDF)   1,704   1,705   1,693
Deposits with banks   223   190   182
    14,502   13,158   12,872

Interest Expense

           
Deposits   3,002   2,681   2,865
Subordinated debt   179   171   150
Other liabilities   1,449   1,543   1,565
    4,630   4,395   4,580

Net Interest Income

  9,872   8,763   8,292

Non-Interest Revenue

           
Securities commissions and fees   924   901   894
Deposit and payment service charges   1,141   1,077   1,002
Trading revenues   1,192   987   949
Lending fees   859   737   680
Card fees   461   460   462
Investment management and custodial fees   1,556   1,552   1,286
Mutual fund revenues   1,364   1,377   1,065
Underwriting and advisory fees   820   706   744
Securities gains, other than trading (Note 3 PDF)   84   171   162
Foreign exchange, other than trading   162   172   179
Insurance revenue   2,023   1,762   2,008
Investments in associates and joint ventures   140   207   169
Other   489   517   331
    11,215   10,626   9,931

Total Revenue

  21,087   19,389   18,223

Provision for Credit Losses (Note 4 PDF)

  815   612   561

Insurance Claims, Commissions and Changes in Policy Benefit Liabilities (Note 14 PDF)

  1,543   1,254   1,505

Non-Interest Expense

           
Employee compensation (Notes 21 and 22 PDFs)   7,382   7,081   6,242
Premises and equipment (Note 9 PDF)   2,393   2,137   1,908
Amortization of intangible assets (Note 11 PDF)   444   411   382
Travel and business development   646   605   542
Communications   294   314   289
Business and capital taxes   42   45   39
Professional fees   523   595   622
Other   1,273   994   897
    12,997   12,182   10,921

Income Before Provision for Income Taxes

  5,732   5,341   5,236
Provision for income taxes (Note 23 PDF)   1,101   936   903

Net Income

$ 4,631 $ 4,405 $ 4,333
Attributable to:            
Bank shareholders   4,622   4,370   4,277
Non-controlling interest in subsidiaries   9   35   56

Net Income

$ 4,631 $ 4,405 $ 4,333

Earnings Per Share (Canadian $) (Note 24 PDF)

           
Basic $ 6.94 $ 6.59 $ 6.44
Diluted   6.92   6.57   6.41
Dividends per common share   3.40   3.24   3.08
Signature: William A. Downe

William A. Downe
Chief Executive Officer

Signature: Philip S. Orsino

Philip S. Orsino
Chairman, Audit and Conduct Review Committee

 

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