CIBC’s Q3 profit rose as it set aside less money for bad loans – National

[Pelican Press 0]

This is the hidden content, please

• Sign In
• or
• Sign Up

CIBC’s Q3 profit rose as it set aside less money for bad loans – National

By Staff

The ********* Press

Posted August 29, 2024 7:30 am

1 min read

Descrease article font size

Increase article font size

********* Imperial Bank of Commerce reported its third-quarter profit rose compared with a year ago as it set aside less money for bad loans.

data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///ywAAAAAAQABAAACAUwAOw==

CIBC says its net income totalled $1.80 billion or $1.82 per diluted share in for the quarter ended July 31, up from $1.43 billion or $1.47 per diluted share in the same quarter last year.

Revenue totalled $6.60 billion, up from $5.85 billion.

This is the hidden content, please

• Sign In
• or
• Sign Up

/applications/core/interface/js/spacer.png">

2:16
Business Matters: BMO, Scotiabank reserving money for bad loans

Trending Now

• data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///ywAAAAAAQABAAACAUwAOw==

  Museum mishap: 4-year-old boy accidentally shatters 3,500-year-old jar

• data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///ywAAAAAAQABAAACAUwAOw==

  Kevin Falcon moves to suspend BC *******’s campaign, will work with BC Conservatives

CIBC’s provision for credit losses for the quarter amounted to $483 million, down from $736 million a year earlier.

Story continues below advertisement

On an adjusted basis, CIBC says it $1.93 per diluted share in its latest quarter compared with an adjusted profit of $1.52 per diluted share in the same quarter last year.

Analysts on average had expected an adjusted profit of $1.74 per share, according to LSEG Data & Analytics.

More on Canada
Related videos

&copy 2024 The ********* Press

This is the hidden content, please

• Sign In
• or
• Sign Up

#CIBCs #profit #rose #set #money #bad #loans #National

This is the hidden content, please

• Sign In
• or
• Sign Up

This is the hidden content, please

• Sign In
• or
• Sign Up