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December 2013

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Growth in FY 2013 for Canada's Top 6 Banks

The top 6 Canadian banksreported FY 2013 collective netincome of almost $ 31 billion, or

an increase of 4.6 % vs. the yearbefore.

While the big 5 Canadian banksimproved profits vs. FY 2012,National Bank actually saw adecline of -4.9%

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Key Performance Indicators

Among the key performanceindicators for the top 6 banks are:• Total Revenue• Net Income• ROE (Return on Equity)• EPS (Earnings per Share)

The following charts show howeach bank performed in auniverse of top 6 bank results.(Sources: Reported Top 6 Banks’ FY 2013results)

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Top 6 Banks – FY 2013 % Share of Top 6 Revenue

• Overall revenue growth improved vs. FY 2012, but not at the same rate – Scotia led in terms of % growth• National Bank’s revenue actually dipped slightly VYA

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Total Revenue $MM -FY 2013 FY 2012 % Change VYA

RBC 30,867.0 29,772.0 3.7

TD 27,262.0 25,546.0 6.7

Scotia 21,343.0 19,701.0 8.3

BMO 16,263.0 16,130.0 0.8

CIBC 12,783.0 12,549.0 1.9

National Bank 5,163.0 5,313.0 -2.8

113,681.0 109,011.0 4.3

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Top 6 Banks – FY 2013 % Share of Top 6 Net Income

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• While RBC showed an impressive growth in net income, the rest of the major banks saw single-digit growth- National Bank actually saw a dip of 4.9% VYA

• Scotia edged ahead of TD in Reported Net Income

Reported NetIncome $ - FY 2013 FY 2012 % Change VYA

RBC 8,429.0 7,539.0 11.8

TD 6,662.0 6,471.0 3.0

Scotia 6,697.0 6,466.0 3.6

BMO 4,248.0 4,189.0 1.4

CIBC 3,400.0 3,339.0 1.8

National Bank 1,554.0 1,634.0 -4.9

30,990.0 29,638.0 4.6

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Top 6 Banks – FY 2013 Return on Equity (ROE)

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• With the exception of RBC, the major banks reported negative ROE figures for FY 2013 vs. FY 2012

Reported ROE - % FY 2013 FY 2012 % Change VYA

RBC 19.4 19.3 0.5

TD 14.0 14.9 -6.0

Scotia 16.4 19.7 -16.8

BMO 14.9 15.9 -6.3

CIBC 20.9 22.0 -5.0

National Bank20.6 24.5 -15.9

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Top 6 Banks FY 2013 Earnings Per Share (EPS)

• Preventing a clean sweepby RBC, National Bank ledin Earnings per Share (EPS)

• Both CIBC and RBChowever posted significantimprovements vs. Q3 2011

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• While RBC led in terms of a % increase in EPS vs. FY 2012, it was the National Bank that led in EPS, albeitdeclining VYA

Reported EPS(diluted) $ - FY 2013 FY 2012 % Change VYARBC 5.54 4.93 12.4

TD 6.91 6.76 2.2

Scotia 5.15 5.22 -1.3

BMO 6.26 6.15 1.8

CIBC 8.23 7.85 4.8

National Bank 8.80 9.32 -5.6

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Deepak Pershad, Principaldpershad@insightsbydesign.ca

www.insightsbydesign.ca