Canada's CIBC quarterly profit rises on strength in capital markets unit (updated)

Canadian Imperial Bank of Commerce

04/12/2025 11:13

Adds Refinitiv Instrument Code, no change to text

Dec 4 (Reuters) - Canadian Imperial Bank of Commerce CM.TO reported a rise in fourth-quarter profit on Thursday, driven by robust performance in its capital markets division.

U.S. President Donald Trump's tariffs on major Canadian industries stirred market volatility that triggered more trading, boosting banks' capital markets divisions.

The capital markets segment's net income jumped 58.4% to C$548 million in the quarter.

Net interest income, the difference between what banks make on loans and pay out on deposits, was C$4.13 billion in the quarter, up from C$3.63 billion in the year-ago period.

The bank's adjusted net income rose to C$2.19 billion  ($1.57 billion), or C$2.21 per share, during the three months ended October 31, from C$1.89 billion, or C$1.91 per share, a year earlier.

($1 = 1.3958 Canadian dollars)

 (Reporting by Prakhar Srivastava in Bengaluru; Editing by Mrigank Dhaniwala)

 ((Prakhar.srivastava2@thomsonreuters.com;))