Canadian Imperial Bank of Commerce reported its third-quarter profit rose compared with a year ago as it set aside less money for bad loans.
CIBC says its net income totalled $1.80 billion or $1.82 per diluted share in for the quarter ended July 31, up from $1.43 billion or $1.47 per diluted share in the same quarter last year.
Revenue totalled $6.60 billion, up from $5.85 billion.
- Artificial intelligence residency at Calgary Public Library raises some eyebrows
- ‘Where do we draw the line?’ Montreal real estate agent surprised over OQLF letter
- Ford government mulls legal changes to stop B.C.-style drug superlabs
- Saskatchewan says ‘standing still’ not an option under new health-care plan
-
![]()
Ottawa reserves commercial flights, bus seats for Canadians in ‘volatile’ Iran war: Anand -
![]()
Team Canada is ready for the Milano-Cortina Paralympic Games in Milano-Cortino Games -
![]()
Liberals have proposed a debate on Iran war, federal House leader says -
![]()
Health Matters: New online Pregnancy & Parent Learning Centre
CIBC’s provision for credit losses for the quarter amounted to $483 million, down from $736 million a year earlier.
On an adjusted basis, CIBC says it $1.93 per diluted share in its latest quarter compared with an adjusted profit of $1.52 per diluted share in the same quarter last year.
Analysts on average had expected an adjusted profit of $1.74 per share, according to LSEG Data & Analytics.
Comments
Want to discuss? Please read our Commenting Policy first.