CIBC posts third-quarter financials as Big Six season closes
Stripping that out, adjusted diluted EPS came in at $2.73, a 26% jump from $2.16 in the same quarter last year.
CIBC President and Chief Executive Officer Harry Culham said the bank was building on consistent operational momentum.
“We continue to accelerate the execution of our strategy, driving another quarter of strong financial results including double-digit growth in net income and a higher return on equity compared to a year ago,” Culham said.
“Leveraging our robust balance sheet and building on our strong credit quality, we stand ready to support our clients and further our momentum.”
Canadian banking drives stronger margins
For mortgage brokers tracking the health of Canada’s major lenders, the standout figure was the domestic division. Canadian Personal and Business Banking, CIBC’s most broker-relevant segment, recorded net income of $948 million. That’s a 17% increase from $812 million in the prior year quarter, according to the bank’s earnings release.
