Canadian Imperial Bank of Commerce

CM: XTSE (CAN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CAD 42.00	Ytcxx	Kldgfrj

Canadian Imperial Bank of Commerce Earnings: Expenses in Line While Provisioning Builds

Eric Compton

May 25, 2023

Narrow-moat-rated Canadian Imperial Bank of Commerce, or CIBC, reported OK fiscal second-quarter earnings. Adjusted earnings per share were CAD 1.70, representing a decline of 4% year over year and a decline of 12% quarter over quarter. Results generally fit within the overall pattern we expect for the Canadian banks this year, as we looked for slowing loan growth, an increase in credit strain, and some pressure on net interest income, or NII, growth.

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