Canadian Imperial Bank of Commerce

CM: XTSE (CAN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CAD 28.00	Jpclbp	Chjqjrhs

Canadian Imperial Bank of Commerce Earnings: Provisioning Was Better Than for Peers

Eric Compton

Dec 3, 2023

Narrow-moat-rated Canadian Imperial Bank of Commerce, or CIBC, reported decent fiscal fourth-quarter earnings. Adjusted earnings per share were CAD 1.57, representing an increase of 13% year over year and 3% quarter over quarter. Last quarter was a bit more difficult, driven by outsize provisioning compared with peers, however, CIBC made a bit of a comeback this quarter as the bank saw an improvement in its provisioning ratio while peers are seeing increases.

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