Lates News

The Canadian Imperial Bank of Commerce (CIBC) exceeded expectations with growth in overall business revenue (including the capital markets division benefiting from the volatile trading environment). The bank reported adjusted earnings per share of 2.05 Canadian dollars in the second quarter, higher than the analysts' average expectation of 1.88 Canadian dollars, with the net revenue of the capital markets division reaching 566 million Canadian dollars. The bank set aside 142 million Canadian dollars for normal loans and 463 million Canadian dollars for non-performing loans, totaling reserves of 605 million Canadian dollars, lower than analysts' expectation of 632 million Canadian dollars.