The document analyzes key performance indicators for the 2021 fiscal year results of Canada's six largest banks, finding that collectively they grew net income by 40% compared to 2020. It reports that Canadian Imperial Bank of Commerce (CIBC) showed the greatest growth in net income, return on equity, and earnings per share compared to the previous year. The results demonstrate mostly positive financial growth across the major Canadian banks from 2020 to 2021 as the economy recovered from the pandemic.

1. Deepak Pershad
The Top 6 Canadian Banks:
Selected Indicators of FY 2021 Results
December 2021

2. Contents
Highlights 3.
Key Performance Indicators 4.
Total Revenue 5.
Net Income 6.
Return on Equity 7.
Earnings Per Share 8.
Summation 9.
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3. Canada's Top 6 Banks – Mostly positive growth vs. FY 2020
Highlights
• Collectively, the top six Canadian banks grew their net income by 40% Vs. FY 2020
NET INCOME:
• RBC led in reported net income, followed by TD
• CIBC showed the greatest % growth in net income vs. FY 2020 (+70%), followed by National
Bank (+52.5%) and BMO (+52.1%)
ROE (Return on equity):
• National Bank led in reported % ROE (20.7%), followed by RBC (18.6%) and CIBC (16.1%)
• CIBC showed the greatest % growth in ROE vs. FY 2020 (+61%), followed by BMO (+47.5%)
and Scotiabank (+41.3%)
EPS (Earnings per share):
• CIBC led the top six banks in terms of 2021 EPS ($13.93), followed by BMO ($11.58) and RBC
($11.06)
• CIBC also led in % growth in EPS vs. FY 2020 (+69.5%), followed by National Bank (+57.2%)
and BMO (+53.4%)
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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 2021
results*)
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* The banks’ fiscal year is Nov 1- Oct 31

5. Top 6 Banks – FY 2021 % Share of Top 6 Revenue
• As in previous years, RBC led in total annual revenue, followed by TD Bank
• National Bank, BMO and CIBC showed the greatest % revenue growth vs. FY 2020
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28%
24%
17%
15%
11%
5%
RBC TD Scotia BMO CIBC National
Bank
Total Revenue - FY 2021 - % Share of Top 6 Banks
12.6
7.9
6.8
5.3
-0.3
-2.2
National
Bank
BMO CIBC RBC Scotia TD
Total Revenue - FY 2021 - % Change VYA
Total Revenue $MM - FY 2021 $MM - FY 2020 % Change VYA Total Revenue % Share of Top 6
RBC $49,693.0 $47,181.0 5.3 RBC 28%
TD $42,693.0 $43,646.0 -2.2 TD 24%
Scotia $31,252.0 $31,336.0 -0.3 Scotia 17%
BMO $27,186.0 $25,186.0 7.9 BMO 15%
CIBC $20,015.0 $18,741.0 6.8 CIBC 11%
National Bank $8,927.0 $7,927.0 12.6 National Bank 5%
Top 6 banks $179,766.0 $174,017.0 3.3 Top 6 banks 100%

6. Top 6 Banks – FY 2021 % Share of Top 6 Net Income
6
• The top six Canadian banks grew their combined net income by 40% VYA
• RBC led in reported net income, followed by TD
• CIBC showed the greatest % growth in net income vs. FY 2020, followed by National Bank and BMO
28%
25%
17%
13%
11%
6%
RBC TD Scotia BMO CIBC National
Bank
FY 2021 Reported Net Income -
% Share of Total of Top 6 Cdn Banks
70.0
52.5 52.1
45.3
40.3
20.2
CIBC National
Bank
BMO Scotia RBC TD
Reported Net Income FY 2021 - % Change VYA
Reported Net Income $ - FY 2021 $ - FY 2020 % Change VYA Reported Net Income % Share of Top 6
RBC $16,050.0 $11,437.0 40.3 RBC 28%
TD $14,298.0 $11,895.0 20.2 TD 25%
Scotia $9,955.0 $6,853.0 45.3 Scotia 17%
BMO $7,754.0 $5,097.0 52.1 BMO 13%
CIBC $6,446.0 $3,792.0 70.0 CIBC 11%
National Bank $3,177.0 $2,083.0 52.5 National Bank 6%
Top 6 banks $57,680.0 $41,157.0 40.1 Top 6 banks 100%

7. Top 6 Banks – FY 2021 Return on Equity (ROE)
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• National Bank led in reported % ROE, followed by RBC and CIBC
• CIBC showed the greatest % growth in ROE vs. FY 2020, followed by BMO and Scotiabank
20.7%
18.6%
16.1% 15.5% 14.9% 14.7%
National
Bank
RBC CIBC TD BMO Scotia
Reported ROE % - FY 2021
61.0
47.5
41.3 38.9
31.0
14.0
CIBC BMO Scotia National
Bank
RBC TD
Reported ROE FY 2021 - % Change VYA
Reported ROE - % % - FY 2021 % - FY 2020 % Change VYA ROE - % Index-RBC = 100
RBC 18.6% 14.2% 31.0 RBC 100
TD 15.5% 13.6% 14.0 TD 83
Scotia 14.7% 10.4% 41.3 Scotia 79
BMO 14.9% 10.1% 47.5 BMO 80
CIBC 16.1% 10.0% 61.0 CIBC 87
National Bank 20.7% 14.9% 38.9 National Bank 111

8. Top 6 Banks - FY 2021 Earnings Per Share (EPS)
8
• CIBC led the top six banks in terms of 2021 EPS, followed by BMO and RBC
• CIBC also led in % growth in EPS vs. FY 2020, followed by National Bank and BMO
$13.93
$11.58 $11.06
$8.96
$7.72 $7.70
CIBC BMO RBC National
Bank
TD Scotia
Reported EPS - FY 2021
69.5
57.2 53.4
41.4
20.1
2.8
CIBC National
Bank
BMO RBC TD Scotia
Reported EPS (diluted) - FY 2021
% Change VYA
Reported EPS (diluted) $ - FY 2021 $ - FY 2020 % Change VYA EPS Index-RBC = 100
RBC $11.06 $7.82 41.4 RBC 100
TD $7.72 $6.43 20.1 TD 70
Scotia $7.70 $5.30 2.8 Scotia 70
BMO $11.58 $7.55 53.4 BMO 105
CIBC $13.93 $8.22 69.5 CIBC 126
National Bank $8.96 $5.70 57.2 National Bank 81

9. SOURCE:
• https://www.reuters.com/markets/rates-bonds/canadas-cibc-posts-higher-quarterly-profit-lifts-dividend-10-2021-12-02/
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10. Deepak Pershad, Principal – Contract Projects
www.linkedin.com/in/deepakpershad
• Marketing analysis
• Business writing
• Content development