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Consolidated statement of income - CAD ($)
$ in Millions
3 Months Ended
Jan. 31, 2022
Oct. 31, 2021
Jan. 31, 2021
Interest income (Note 13)      
Loans [1] $ 3,206 $ 3,103 $ 3,071
Securities [1] 629 527 569
Securities borrowed or purchased under resale agreements [1] 78 75 90
Deposits with banks [1] 28 32 41
Interest income [1] 3,941 3,737 3,771
Interest expense (Note 13)      
Deposits 638 612 755
Securities sold short 68 61 56
Securities lent or sold under repurchase agreements 54 42 71
Subordinated indebtedness 29 29 35
Other 20 13 15
Interest expense 809 757 932
Net interest income 3,132 2,980 2,839
Non-interest income      
Underwriting and advisory fees 148 151 134
Deposit and payment fees 214 216 195
Credit fees 322 295 287
Card fees 135 125 123
Investment management and custodial fees 445 441 373
Mutual fund fees 479 469 424
Insurance fees, net of claims 94 87 97
Commissions on securities transactions 106 101 103
Gains (losses) from financial instruments measured/designated at fair value through profit or loss (FVTPL), net 259 82 213
Gains (losses) from debt securities measured at fair value through other comprehensive income (FVOCI) and amortized cost, net 19 22 36
Foreign exchange other than trading (FXOTT) 73 50 69
Income from equity-accounted associates and joint ventures 13 11 16
Other 59 34 54
Non-interest income 2,366 2,084 2,124
Total revenue 5,498 5,064 4,963
Provision for credit losses (Note 6) 75 78 147
Non-interest expenses      
Employee compensation and benefits 1,747 1,669 1,564
Occupancy costs 204 327 193
Computer, software and office equipment 530 552 467
Communications 80 76 79
Advertising and business development 63 87 45
Professional fees 71 95 47
Business and capital taxes 32 28 31
Other 296 301 300
Non-interest expenses 3,023 3,135 2,726
Income before income taxes 2,400 1,851 2,090
Income taxes 531 411 465
Net income 1,869 1,440 1,625
Net income attributable to non-controlling interests 5 4 4
Preferred shareholders and other equity instrument holders 41 47 30
Common shareholders 1,823 1,389 1,591
Net income attributable to equity shareholders $ 1,864 $ 1,436 $ 1,621
Earnings per share (in dollars) (Note 11)      
Basic $ 4.04 $ 3.08 $ 3.56
Diluted 4.03 3.07 3.55
Dividends per common share (in dollars) $ 1.61 $ 1.46 $ 1.46
[1] Interest income included $3.5 billion for the quarter ended January 31, 2022 (October 31, 2021: $3.4 billion; January 31, 2021: $3.4 billion) calculated based on the effective interest rate method.