CIBC reports stronger third-quarter profit

Thu Aug 28, 2014 6:20am EDT
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TORONTO (Reuters) - Canadian Imperial Bank of Commerce (CM.TO: Quote) reported a higher third-quarter profit on Thursday, helped by strong gains at its wealth management and investment dealer divisions.

Canada's 5th largest lender said its net income rose to C$921 million, or C$2.26 per share in the quarter ended July 31, from C$878 million, or C$2.13 a year earlier.

Adjusted earnings per share were C$2.23. Analysts had expected C$2.21 per share.

(Reporting by Jeffrey Hodgson, Editing by Franklin Paul)

A pedestrian walks past the CIBC ATM machines in Montreal, April 24, 2014. REUTERS/Christinne Muschi