Profit in capital markets jumped 13% to $612 million in Q1 and drove an 8% rise in the bank's overall revenue to $5.93 billion
FILE PHOTO: The Canadian Imperial Bank of Commerce logo is seen on a building in Toronto
The Toronto-based lender kicked off the first-quarter earnings season for major Canadian banks. Profit in capital markets jumped 13% to C$612 million in the reported quarter and drove an 8% rise in CBIC's overall revenue to C$5.93 billion. Still, CIBC's profit took a hit after it set aside C$295 million in provisions for credit losses in the reported quarter, up C$220 million from a year-ago period, as it braces for increased odds of more loan defaults in a rising interest rate environment.
CIBC's overall net profit saw a 77% slump to C$432 million , or C$0.39 per share, from a year-ago levels.
المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين
Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.
U.S. Justice Department indicts 13 alleged leaders of MS-13 gangFederal prosecutors on Thursday announced charges against more than a dozen alleged high-ranking leaders of the international gang MS-13, accusing them of directing criminal activities including murder in the United States, El Salvador, Mexico and other countries over the past two decades.
اقرأ أكثر »
CIBC profit falls on higher legal provisionsThe lender reported net profit of $432-million or 39 cents a share in the latest quarter, down from $1.87-billion or $2.01 a year earlier
اقرأ أكثر »
CIBC profit falls but tops forecasts on trading gains, lower loan-loss provisionsIn the latest quarter, CIBC reported adjusted earnings per share of $1.94 in the most recent quarter, exceeding the $1.73 analysts had been expecting
اقرأ أكثر »
CIBC reports first-quarter profit down from year agoCIBC reported its first-quarter profit fell compared with a year ago as it took a $1.17-billion charge to settle lawsuit filed by Cerberus Capital Management LP.
اقرأ أكثر »
Opinion | 13 musings: The Maple Leafs have the lineup flexibility NHL coaches dream ofThe early returns on adding two veteran centres in Ryan O’Reilly and Noel Accaria seem fairly positive.
اقرأ أكثر »
OPP say 26 people charged after 13-month organized crime investigationPolice say 26 people have been charged after a 13-month investigation spanning multiple forces into the trafficking of controlled substances and firearms across southern Ontario.
اقرأ أكثر »