CIBC profit rises on capital markets strength
May 29 (Reuters) - Canadian Imperial Bank of Commerce CM.TO reported a rise in second-quarter profit on Thursday, led by its capital markets business.
U.S. President Donald Trump's shifting trade policy fueled volatility in markets and forced investors to rejig their portfolios to minimize losses, helping banks' trading desks to collect more fee income.
CIBC's net income from capital markets rose 20% over the year earlier to C$566 million.
Peers Toronto Dominion Bank TD.TO and Bank of Montreal BMO.TO also reported a rise in quarterly income in their capital markets arms.
CIBC's adjusted net income rose to C$2.02 billion ($1.46 billion), or C$2.05 per share, during the three months ended April 30, compared with C$1.72 billion, or C$1.75 per share, a year ago.
($1 = 1.3832 Canadian dollars)
Related Articles
Coca Cola (KO) Q4 Earnings Preview: Look for the Upside in the AI Initiatives, not in the Revenue and the EPS
Coca-Cola (KO) enters its fourth-quarter 2025 earnings call tomorrow with significant momentum. However, a fundamental shift is occurring.
Warsh’s Fed Era Signals a Death Knell for QE, Jolting the $30 Trillion Treasury Market
With Warsh’s nomination, his past proposals for governing the Federal Reserve are being brought to the forefront. A central issue is the formulation of a new "1951 Accord" to restructure the relationship between the Fed and the Treasury. Analysts suggest such a move could impact the $30 trillion Tre
Amazon Stock Predictions for 2026 to 2030: Will They Exceed Expectations and Achieve Major Long-Term Goals?
TradingKey - As we head into 2026, many investors are questioning where Amazon (AMZN) fits into the technology world.
A Crash After a Surge: Why Silver Lost 40% in a Week?
TradingKey - Spot silver (XAGUSD) prices continue to decline. Silver plunged 20% on Thursday, breaking below $71 per ounce, with the sell-off intensifying on Friday as prices fell further below $64. Compared to the all-time high set on January 29, silver prices have retraced more than 40%, wiping out nearly all gains accumulated over the previous month.
