TORONTO – CIBC reported a first-quarter profit of $2.17 billion, up from $1.73 billion a year earlier.
The bank says the profit amounted to $2.19 per diluted share for the quarter ended Jan. 31, up from $1.77 per diluted share in the same quarter last year.
Revenue for the quarter totalled $7.28 billion, up from $6.22 billion.
The bank’s provision for credit losses for the quarter amounted to $573 million, down from $585 million a year earlier.
On an adjusted basis, CIBC says it earned $2.20 per diluted share in its latest quarter, up from an adjusted profit of $1.81 per diluted share a year ago.
The average analyst estimate had been for an adjusted profit of $1.97 per share, according to LSEG Data & Analytics.
This report by The Canadian Press was first published Feb. 27, 2025.
Companies in this story: (TSX:CM)
