Canada's CIBC Q3 revenue beats, partly on higher equity trading and financing revenue

Canadian Imperial Bank of Commerce

27/08/2026 10:35

Overview
Canada banking group's Q3 revenue rose 15% yr/yr, beating analyst expectations
Adjusted EPS for Q3 climbed 26% and beat analyst expectations
Quarter included charges tied to CIBC Caribbean Bank Limited sale

Outlook
Company did not provide specific guidance for the current quarter or full year in the press release

Result Drivers
NET INTEREST MARGIN AND LOAN GROWTH - Higher net interest margin and loan growth drove revenue gains in Canadian Personal and Business Banking
VOLUME AND FEE-BASED REVENUE - Canadian Commercial Banking and Wealth Management saw higher revenue from volume growth and increased fee-based revenue due to higher assets under administration and management
EQUITY TRADING AND FINANCING - Capital Markets revenue rose, driven by higher equity trading and financing revenue

Company press release: ID:nCNWW8hVQa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
C$8.37 bln
C$8.03 bln (9 Analysts)
Q3 Adjusted EPS
Beat
C$2.73
C$2.53 (12 Analysts)
Q3 EPS
 
C$2.47
 
Q3 Net Income
 
C$2.41 bln
 
Q3 Adjusted ROE
 
16.80%
 
Q3 CET1 Capital Ratio
 
13.40%
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 9 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for Canadian Imperial Bank of Commerce is C$173.25, about 5.8% above its August 26 closing price of C$163.82
The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 14 three months ago

Reuters Recommended Reads
Aug 25 - Canadian lenders BMO, Scotiabank beat profit estimates, brush aside tariff worries
Aug 26 - National Bank of Canada beats profit estimates on capital markets, wealth management strength
Aug 26 - Canada's EQB Q3 adj EPS rises after PC Financial acquisition

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)