04:32:23 EDT Mon 13 May 2024
Enter Symbol
or Name
USA
CA



Canadian Imperial Bank of Commerce (CIBC)
Symbol CM
Shares Issued 931,811,338
Close 2024-02-29 C$ 64.22
Market Cap C$ 59,840,924,126
Recent Sedar Documents

Globe says TD, CIBC beat analysts' Q1 expectations

2024-03-01 08:04 ET - In the News

See In the News (C-TD) Toronto-Dominion Bank

The Globe and Mail reports in its Friday edition that on Thursday, CIBC and TD Bank were the final of the Big Six Canadian banks to report earnings for the fiscal first quarter. The Globe's Stefanie Marotta writes that earlier this week, Scotiabank, RBC and National Bank beat analyst expectations, while BMO missed estimates. TD and CIBC posted better-than-expected profit on stronger performance in Canadian personal banking and commercial banking and capital markets, offsetting weakness in their U.S. divisions. Adjusted to exclude certain items, TD said it earned $2 a share, topping analyst estimates of $1.89 a share. CIBC said it earned $1.81 a share on an adjusted basis, edging out analyst expectations for $1.68 a share. Revenue in TD's capital markets unit jumped 32 per cent to a record $1.78-billion on higher activity from the integration of New York-based investment bank Cowen, as well as a boost in equity commissions, trading and underwriting fees. CIBC's Canadian personal and small business banking earned $650-million, up 10 per cent from a year earlier, as the business added more than 600,000 new customers in the past year. TD has been trimming its expenses by reducing its work force and real-estate assets.

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