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Consolidated Statement of Income - CAD ($)
$ in Millions
3 Months Ended
Jan. 31, 2023
Oct. 31, 2022
Jan. 31, 2022
Interest income      
Loans [1] $ 10,619 $ 9,271 $ 5,994
Securities [1] 1,458 1,217 358
Securities purchased under resale agreements and securities borrowed [1] 336 209 47
Deposits with financial institutions [1] 743 421 64
Interest income [1] 13,156 11,118 6,463
Interest expense      
Deposits 7,834 5,722 1,573
Subordinated debentures 105 93 45
Other 648 681 501
Interest expenses 8,587 6,496 2,119
Net interest income 4,569 4,622 4,344
Non-interest income      
Card revenues 201 195 190
Banking services fees 469 456 437
Credit fees 466 451 401
Mutual funds 532 528 628
Brokerage fees 279 264 298
Investment management and trust 253 242 256
Underwriting and advisory fees 102 136 172
Non-trading foreign exchange 232 228 225
Trading revenues 634 418 609
Net gain on sale of investment securities 44 71 2
Net income from investments in associated corporations 16 49 91
Insurance underwriting income, net of claims 112 114 101
Other fees and commissions 186 206 156
Other (115) (354) 139
Total non-interest income 3,411 3,004 3,705
Total revenue 7,980 7,626 8,049
Provision for credit losses 638 529 222
Profit from operating activity 7,342 7,097 7,827
Non-interest expenses      
Salaries and employee benefits 2,340 2,187 2,280
Premises and technology 640 636 586
Depreciation and amortization 406 394 375
Communications 94 90 90
Advertising and business development 136 140 109
Professional 175 239 192
Business and capital taxes 161 134 140
Other 512 709 451
Total non-interest expenses 4,464 4,529 4,223
Income before taxes 2,878 2,568 3,604
Income tax expense 1,106 475 864
Net income 1,772 2,093 2,740
Net income attributable to non-controlling interests in subsidiaries 40 38 88
Net income attributable to equity holders of the Bank 1,732 2,055 2,652
Preferred shareholders and other equity instrument holders 101 106 44
Common shareholders $ 1,631 $ 1,949 $ 2,608
Earnings per common share (in dollars)      
Basic [2] $ 1.37 $ 1.64 $ 2.15
Diluted [2] 1.36 1.63 2.14
Dividends paid per common share (in dollars) $ 1.03 $ 1.03 $ 1
[1] Includes interest income on financial assets measured at amortized cost and FVOCI, calculated using the effective interest method, of $12,710 for the quarter ended January 31, 2023 (October
 
31, 2022 – $
10,703; January 31, 2022 – $6,331).
[2] Earnings per share calculations are based on full dollar and share amounts.