CIBC expects increased loan loss provisions going forward
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)
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