BRIEF-CIBC CEO says US banking business to contribute 10 pct of net income in short term

Wed Jun 29, 2016 9:08am EDT
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June 29 (Reuters) - Canadian Imperial Bank Of Commerce , PrivateBancorp Inc :

* CIBC says plans to follow through on plan to raise dividend payout ratio to top in the 40 -50 percent target range - conference call

* CIBC CEO says U.S. banking business will contribute 10 pct of net income in short term, 25 pct over time

* CIBC CFO says integration costs from PrivateBancorp takeover of between $130-$150 million

* CIBC CEO says made decision to work towards acquisition 6 to 8 months ago Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)