CIBC Posts Ninth Straight Quarter of Double-Digit EPS Growth
CIBC reported third-quarter results with adjusted EPS of $2.73, up 26% year over year, and adjusted net income of $2,648 million on $8,368 million revenue, up 15%. Return on equity rose to 16.8%. Capital Markets net income increased 34%, while Canadian Personal and Business Banking net income climbed 17%. Efficiency improved and Investor’s Edge new accounts grew 34%, supporting a 12% increase in money-in balances.