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

Canadian Imperial Bank of Commerce

28/05/2026 10:57

Updates with details throughout
May 28 (Reuters) - Canadian Imperial Bank of Commerce CM.TO reported a rise in second-quarter profit on Thursday, helped by strong performance in its capital markets business.
The Toronto-based bank also announced that it will sell its 91.7% stake in CIBC Caribbean to Bermuda-based Butterfield NTB.N for about $1.6 billion, as it looks to reallocate capital towards growth priorities in North America.
During the reported quarter, global markets were jolted by uncertainty from the Iran war and fears that AI could upend traditional software businesses, prompting investors to rejig portfolios and boosting fees for banks’ trading desks.
CIBC's capital markets profit rose 40% from a year ago to C$792 million in the reported quarter.
Analysts have said CIBC's capital markets business has been a key driver of growth for the Canadian bank, with its revenues in the segment outpacing peers.
The bank's adjusted net income came in at C$2.47 billion ($1.78 billion), or C$2.54 per share, for the three months ended April 30, compared with C$2.02 billion, or C$2.05 per share, a year earlier.
     
($1 = 1.3856 Canadian dollars)

(Reporting by Pragyan Kalita in Bengaluru; Editing by Jonathan Ananda)
((Pragyan.Kalita@thomsonreuters.com;))