CIBC's profit rises 47 percent

Thu Aug 25, 2016 6:01am EDT
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Aug 25 (Reuters) - Canadian Imperial Bank of Commerce , Canada's fifth-biggest lender, reported a 47 percent rise in third-quarter profit, helped by growth in its retail and business banking and capital markets units.

The bank's net income rose to C$1.44 billion ($1.12 billion), or C$3.61 per share, in the quarter ended July 31, from C$978 million, or C$2.42 cents per share, a year earlier. ($1 = C$1.2909) (Reporting by Matt Scuffham and Anet Joslin Pinto; Editing by Savio D'Souza)