| Consolidated Balance Sheet | Consolidated Statement of Income | Consolidated Statement of Changes in Shareholders’ Equity | Consolidated Statement of Cash Flows |
Consolidated Statement of Income
| For the Year Ended October 31 (Canadian $ in millions, except as noted) | 2005 | 2004 | 2003 | |||
|---|---|---|---|---|---|---|
| Interest, Dividend and Fee Income | Restated (see Note 20) | |||||
| Loans | $ | 7,728 | $ | 6,743 | $ | 6,970 |
| Securities (Note 3) | 1,830 | 1,476 | 1,601 | |||
| Deposits with banks | 606 | 438 | 356 | |||
| 10,164 | 8,657 | 8,927 | ||||
| Interest Expense | ||||||
| Deposits | 3,703 | 2,744 | 2,957 | |||
| Subordinated debt | 202 | 193 | 235 | |||
| Preferred shares and capital trust securities (Notes 18 and 20) | 97 | 124 | 122 | |||
| Other liabilities | 1,375 | 798 | 836 | |||
| 5,377 | 3,859 | 4,150 | ||||
| Net Interest Income | 4,787 | 4,798 | 4,777 | |||
| Provision for credit losses (Note 4) | 179 | (103) | 455 | |||
| Net Interest Income After Provision for Credit Losses | 4,608 | 4,901 | 4,322 | |||
| Non-Interest Revenue | ||||||
| Securities commissions and fees | 1,092 | 1,055 | 894 | |||
| Deposit and payment service charges | 734 | 746 | 756 | |||
| Trading revenues | 413 | 200 | 275 | |||
| Lending fees | 313 | 317 | 293 | |||
| Card fees | 334 | 261 | 290 | |||
| Investment management and custodial fees | 305 | 307 | 303 | |||
| Mutual fund revenues | 437 | 378 | 321 | |||
| Securitization revenues (Note 7) | 113 | 177 | 244 | |||
| Underwriting and advisory fees | 357 | 343 | 268 | |||
| Investment securities gains (losses) (Note 3) | 165 | 175 | (41) | |||
| Foreign exchange, other than trading | 180 | 177 | 160 | |||
| Insurance income | 162 | 139 | 124 | |||
| Other | 447 | 276 | 333 | |||
| 5,052 | 4,551 | 4,220 | ||||
| Net Interest Income and Non-Interest Revenue | 9,660 | 9,452 | 8,542 | |||
| Non-Interest Expense | ||||||
| Employee compensation (Notes 21 and 22) | 3,746 | 3,632 | 3,578 | |||
| Premises and equipment (Note 10) | 1,264 | 1,252 | 1,264 | |||
| Amortization of intangible assets (Note 13) | 94 | 104 | 105 | |||
| Travel and business development | 247 | 239 | 225 | |||
| Communications | 122 | 138 | 162 | |||
| Business and capital taxes | 107 | 99 | 106 | |||
| Professional fees | 243 | 262 | 255 | |||
| Other | 504 | 431 | 392 | |||
| Total Non-Interest Expense | 6,327 | 6,157 | 6,087 | |||
| Income Before Provision for Income Taxes and Non-Controlling Interest in Subsidiaries | 3,333 | 3,295 | 2,455 | |||
| Income taxes (Note 23) | 875 | 972 | 652 | |||
| 2,458 | 2,323 | 1,803 | ||||
| Non-controlling interest in subsidiaries (Notes 16 and 18) | 58 | 17 | 22 | |||
| Net Income | $ | 2,400 | $ | 2,306 | $ | 1,781 |
| Preferred share dividends (Note 20) | $ | 30 | $ | 31 | $ | 38 |
| Net income available to common shareholders | $ | 2,370 | $ | 2,275 | $ | 1,743 |
| Average common shares (in thousands) | 500,060 | 501,656 | 496,208 | |||
| Average diluted common shares (in thousands) | 510,736 | 515,045 | 507,009 | |||
| Earnings Per Share (Canadian $) (Note 24) | ||||||
| Basic | $ | 4.74 | $ | 4.53 | $ | 3.51 |
| Diluted | 4.64 | 4.42 | 3.44 | |||
| Dividends Declared Per Common Share | 1.85 | 1.59 | 1.34 | |||
|
The accompanying notes to consolidated financial statements are an integral part of these statements. Certain comparative figures have been reclassified to conform with the current year’s presentation. |
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