Consolidated Financial Statements

Consolidated Statement of Income

For the Year Ended October 31 (Canadian $ in millions, except as noted) 2017   2016   2015

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 $ 13,564 $ 12,575 $ 11,263
Securities (Note 3 PDF)   1,945   1,704   1,705
Deposits with banks   324   223   190
    15,833   14,502   13,158

Interest Expense

           
Deposits   3,915   3,052   2,755
Subordinated debt   155   170   163
Other liabilities   1,756   1,408   1,477
    5,826   4,630   4,395

Net Interest Income

  10,007   9,872   8,763

Non-Interest Revenue

           
Securities commissions and fees   969   924   901
Deposit and payment service charges   1,187   1,141   1,077
Trading revenues   1,352   1,192   987
Lending fees   917   859   737
Card fees   415   461   460
Investment management and custodial fees   1,622   1,556   1,552
Mutual fund revenues   1,411   1,364   1,377
Underwriting and advisory fees   1,036   820   706
Securities gains, other than trading (Note 3 PDF)   171   84   171
Foreign exchange, other than trading   191   162   172
Insurance revenue   2,070   2,023   1,762
Investments in associates and joint ventures   386   140   207
Other   526   489   517
    12,253   11,215   10,626

Total Revenue

  22,260   21,087   19,389

Provision for Credit Losses (Note 4 PDF)

  774   815   612

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

  1,538   1,543   1,254

Non-Interest Expense

           
Employee compensation (Notes 21 and 22 PDFs)   7,467   7,382   7,081
Premises and equipment (Note 9 PDF)   2,491   2,393   2,137
Amortization of intangible assets (Note 11 PDF)   485   444   411
Travel and business development   693   646   605
Communications   286   294   314
Business and capital taxes   38   42   45
Professional fees   563   523   595
Other   1,279   1,273   994
    13,302   12,997   12,182

Income Before Provision for Income Taxes

  6,646   5,732   5,341
Provision for income taxes (Note 23 PDF)   1,296   1,101   936

Net Income

$ 5,350 $ 4,631 $ 4,405
Attributable to:            
Bank shareholders   5,348   4,622   4,370
Non-controlling interest in subsidiaries   2   9   35

Net Income

$ 5,350 $ 4,631 $ 4,405

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

           
Basic $ 7.95 $ 6.94 $ 6.59
Diluted   7.92   6.92   6.57
Dividends per common share   3.56   3.40   3.24
Signature: Darryl White

Darryl White
Chief Executive Officer

Signature: Philip S. Orsino

Philip S. Orsino
Chairman, Audit and Conduct Review Committee