Canada's CIBC Q2 results beat; to sell stake in CIBC Caribbean

Canadian Imperial Bank of Commerce

28/05/2026 10:37

Overview
Canada banking group's fiscal Q2 revenue rose 14%, beating analyst expectations
Adjusted EPS for fiscal Q2 increased 24%, beating analyst expectations
CIBC to sell 91.67% stake in CIBC Caribbean for about $1.6 bln

Outlook
CIBC expects CET1 ratio to increase by 24 bps upon closing Caribbean sale
Company plans to reallocate capital toward strategic growth priorities in North America
CIBC says it remains committed to disciplined execution of client-focused strategy

Result Drivers
HIGHER NET INTEREST MARGINS AND LOAN GROWTH - Co said Canadian Personal and Business Banking and Canadian Commercial Banking revenue rose mainly due to higher net interest margins and loan growth
MARKET APPRECIATION AND CLIENT ACTIVITY - Wealth management revenue increased due to higher fee-based revenue from market appreciation and increased client activity
STRONG CAPITAL MARKETS PERFORMANCE - Capital Markets net income rose, driven by higher equities and fixed income trading, higher advisory and underwriting fees, and a provision reversal

Company press release: ID:nCNWyWF8Ha

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
C$8.01 bln
C$7.89 bln (9 Analysts)
Q2 Adjusted EPS
Beat
C$2.54
C$2.44 (13 Analysts)
Q2 EPS
 
C$2.53
 
Q2 Adjusted Net Income
Beat
C$2.47 bln
C$2.24 bln (10 Analysts)
Q2 Net Income
 
C$2.47 bln
 
Q2 Adjusted ROE
 
16.4%
 
Q2 CET1 Capital Ratio
 
13.6%
 
Q2 Provision for Credit Losses
 
C$605 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 6 "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$150.00, about 6% below its May 27 closing price of C$159.54
The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 13 three months ago

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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.)