CIBC reported third-quarter adjusted earnings per share of $2.73, up 26% from a year earlier, marking the ninth consecutive quarter of double-digit growth. Adjusted net income rose to $2,648 million on revenue of $8,368 million, up 15% year over year, with return on equity reaching 16.8%. Growth was broad-based: Capital Markets net income jumped 34% to $722 million, Canadian Personal and Business Banking rose 17% to $948 million, and the US segment gained 23% to $320 million. However, the Common Equity Tier 1 ratio slipped to 13.4% due to buybacks and a $269 million charge related to the planned sale of its Caribbean unit, while provisions for impaired loans climbed to $612 million. Management flagged trade tensions and housing market pressures, and the bank has scheduled an Investor Day for December 9 to outline its next strategy phase.
Canadian Imperial Bank Of CommerceCIBC reports strong Q3 earnings with 26% EPS growth and broad-based segment gains.
