CIBC reports $2.4B Q3 profit up from $2.1B a year ago, revenue also higher
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Digital Subscription
One year of digital access for only $205*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*First annual payment billed as $205.00 + GST for one year. This annual subscription will automatically renew at $233.00 + GST every 52 weeks (10% off the regular annual price of $259.35). Offer available to new and qualified returning subscribers only. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Your next Brandon Sun subscription payment will increase by $1.00 and you will be charged $17.95 plus GST for four weeks. After four weeks, your payment will increase to $24.95 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
TORONTO – CIBC says it earned $2.41 billion in its third quarter, up from $2.10 billion in the same quarter last year, helped by revenue growth across its business.
The bank said Thursday the profit amounted to $2.47 per diluted share for the quarter ending July 31 compared with a profit of $2.15 per diluted share a year earlier.
On an adjusted basis, CIBC says it earned $2.73 per diluted share for its latest quarter, up from an adjusted profit of $2.16 per diluted share in the same quarter last year.
Revenue totalled $8.37 billion for the quarter, up from $7.25 billion a year earlier.
CIBC’s provision for credit losses amounted to $564 million compared with $559 million in the same quarter last year.
Analysts on average had expected a profit of $2.53 per share and $8.03 billion in revenue, according to LSEG Data & Analytics.
“We continue to accelerate the execution of our strategy, driving another quarter of strong financial results including double-digit growth in net income and a higher return on equity compared to a year ago,” CIBC chief executive Harry Culham said in a statement.
CIBC says its Canadian personal and business banking business earned $948 million for its third quarter, up from $812 million a year ago, helped by higher revenue, partially offset by higher non-interest expenses.
The bank’s Canadian commercial banking and wealth management business earned $619 million in its latest quarter, up from $598 million in same quarter last year.
CIBC’s U.S. commercial banking and wealth management business earned $320 million in its third quarter, up from $254 million a year ago, while its capital markets business earned $722 million in its latest quarter, up from $540 million a year ago.
This report by The Canadian Press was first published Aug. 27, 2026.
Companies in this story: (TSX:CM)