December 5, 2013 / 10:44 AM / 4 years ago

CIBC profit slips on provisions and charges

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The CIBC logo is seen on the trading floor during the CIBC Miracle Day charity event in New York December 4, 2013.Shannon Stapleton

TORONTO (Reuters) - Canadian Imperial Bank of Commerce (CM.TO), Canada's No. 5 bank, said on Thursday its fourth-quarter profit slipped 1.9 percent, due to higher loan-loss provisions and one-time charges.

CIBC earned C$836 million ($782.00 million), or C$2.05 a share, in the quarter ended October 31. That compared with a profit of C$852 million, or C$2.02 a share, in the year-before period.

Reporting by Cameron French Editing by W Simon

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