March 8, 2012 / 11:24 AM / 5 years ago

CIBC 1st-quarter profit rises, explores sale of broker mortgage unit

1 Min Read

(Reuters) - Canadian Imperial Bank of Commerce's (CM.TO) first-quarter profit rose 9 percent, helped by growth across its segments, and the company said it plans a potential sale of its broker mortgage unit, FirstLine.

Canada's No. 5 bank, commonly known as CIBC, earned C$835 million ($833.13 million), or C$1.93 a share, compared with C$763 million, or C$1.80 a share, a year ago.

Excluding items, the bank earned C$1.97 a share.

Analysts on average had expected a profit of C$1.93 a share, according to Thomson Reuters I/B/E/S. ($1 = 1.0023 Canadian dollars) (Reporting by Aftab Ahmed in Bangalore and Cameron French in Toronto; Editing by Sriraj Kalluvila)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below