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

Canadian Imperial Bank of Commerce

27/08/2026 10:42

Updates with details throughout
Aug 27 (Reuters) - Canadian Imperial Bank of Commerce CM.TO reported a rise in third-quarter profit on Thursday, driven by robust performance in its capital markets division.
Heightened geopolitical tensions and tariff uncertainty prompted investors to reposition their portfolios during the quarter, aiding capital markets revenue.
Volatility tends to benefit trading desks as investors constantly rejig portfolios to hedge against risks.
Net income at CIBC's capital markets business surged 34% to C$722 million in the quarter.
Capital markets divisions have been the biggest earnings driver for most Canadian banks in recent quarters. 
Peers Bank of Nova Scotia BNS.TO, National Bank of Canada NA.TO and BMO Financial BMO.TO also reported a rise in quarterly profit driven by strength in their capital markets units.
    "We're investing in key enablers including artificial intelligence to empower our team, as we continue to modernize our bank, drive efficiency and sharpen our focus on our clients," said CEO Harry Culham.
The bank's adjusted net income was C$2.65 billion ($1.91 billion), or C$2.73 per share, during the three months ended July 31, compared with C$2.1 billion, or C$2.16 per share, a year earlier.


($1 = 1.3879 Canadian dollars)

 (Reporting by Pragyan Kalita in Bengaluru; Editing by Shilpi Majumdar)
 ((Pragyan.Kalita@thomsonreuters.com;))