CIBC expects increased loan loss provisions going forward

Thu Feb 25, 2016 8:48am EST
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

TORONTO Feb 25 (Reuters) - Canadian Imperial Bank of Commerce expects to see increased loan loss provisions going forward as the slump in oil prices impacts energy clients, Chief Risk Officer Laura Dottori-Attanasio said.

"We are seeing this quarter a lot of downgrades in the oil & gas space, an increase in delinquencies. Our expectation would be to see increased loan loss provisions on a go forward basis," she told analysts on a conference call. (Reporting by Matt Scuffham)