TORONTO — CIBC reported a third-quarter profit of $2.10 billion, up from $1.80 billion in the same quarter last year.
The bank says the profit amounted to $2.15 per share for the quarter ending July 31, up from $1.82 per share last year.
Revenue totalled $7.25 billion, up from $6.60 billion.
The bank's provisions for credit loss totalled $559 million, up from $483 million last year.
On an adjusted basis, CIBC says it earned $2.16 per share, up from $1.93 per share last year.
Analysts on average had expected earnings of $2.00 per share, according to LSEG Data & Analytics.
"In a dynamic environment, our proactive and disciplined approach to managing our business, robust capital position, and balance sheet strength continue to serve us well," said CIBC president and CEO Victor Dodig in a press release.
"Across our connected team, we are leveraging our strategic investments, including in our people, platforms, technology and artificial intelligence to deliver for our clients and create sustainable value for all our stakeholders."
The bank's personal and business banking segment reported a net income of $812 million in the third quarter, up $119 million or 17 per cent from a year earlier. Canadian Commercial Banking and Wealth Management reported a net income of $598 million, up $97 million or 19 per cent from last year.
Capital Markets profit was $540 million, up $251 million or 87 per cent from last year.
Meanwhile, U.S. Commercial Banking and Wealth Management had a net income of $254 million, up $38 million or 17 per cent from a year ago.
CIBC also announced Thursday it intends to purchase up to 20 million or 2.2 per cent of common shares under a normal course issuer bid for the purpose of cancellation.
It said the normal course issuer bid, which is subject to the approval of the TSX, will provide additional flexibility in managing its capital position and generate shareholder value.
This report by The Canadian Press was first published Aug. 28, 2025.
Companies in this story: (TSX:CM)
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