{"id":102976,"date":"2025-08-28T09:57:07","date_gmt":"2025-08-28T09:57:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/102976\/"},"modified":"2025-08-28T09:57:07","modified_gmt":"2025-08-28T09:57:07","slug":"canadas-cibc-third-quarter-profit-rises-on-strength-in-capital-markets-unit","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/102976\/","title":{"rendered":"Canada&#8217;s CIBC third-quarter profit rises on strength in capital markets unit"},"content":{"rendered":"\n<p class=\"yf-1090901\">(Reuters) -Canadian Imperial Bank of Commerce reported a rise in third-quarter profit on Thursday, driven by robust performance in its capital markets division.<\/p>\n<p class=\"yf-1090901\">An uncertain economic backdrop, marked by sluggish economic growth and questions over the path of interest rates, has prompted investors to rejig their portfolios, driving trading volumes higher.<\/p>\n<p class=\"yf-1090901\">CIBC said provision for credit losses (PCLs) was C$559 million in the quarter, up C$76 million from a year earlier, but lower than analysts&#8217; estimates of C$575.7 million according to data compiled by LSEG.<\/p>\n<p class=\"yf-1090901\">Improving credit conditions and tariff exemptions on most Canadian exports to the United States under the United States\u2013Mexico\u2013Canada Agreement (USMCA) have eased trade concerns, as banks now expect a softer economic impact as loan demands grow.<\/p>\n<p class=\"yf-1090901\">Net income jumped 87% to C$540 million in the capital markets segment.<\/p>\n<p class=\"yf-1090901\">The bank&#8217;s adjusted net income rose to C$2.1 billion ($1.52 billion), or C$2.16 per share, during the three months ended July 31, compared with C$1.90 billion, or C$1.93 per share, a year earlier.<\/p>\n<p class=\"yf-1090901\">($1 = 1.3817 Canadian dollars)<\/p>\n<p class=\"yf-1090901\">(Reporting by Atharva Singh and Prakhar Srivastava in Bengaluru; Editing by Krishna Chandra Eluri)<\/p>\n","protected":false},"excerpt":{"rendered":"(Reuters) -Canadian Imperial Bank of Commerce reported a rise in third-quarter profit on Thursday, driven by robust performance&hellip;\n","protected":false},"author":2,"featured_media":102977,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[49,48,59300,19675,13834,44,59301],"class_list":["post-102976","post","type-post","status-publish","format-standard","has-post-thumbnail","category-canada","tag-ca","tag-canada","tag-canadian-imperial-bank-of-commerce","tag-capital-markets","tag-cibc","tag-news","tag-robust-performance"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/102976","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=102976"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/102976\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/102977"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=102976"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=102976"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=102976"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}