December 5, 2013 / 10:44 AM / in 4 years

CIBC profit slips on provisions and charges

The CIBC logo is seen on the trading floor during the CIBC Miracle Day charity event in New York December 4, 2013. REUTERS/Shannon Stapleton

TORONTO (Reuters) - Canadian Imperial Bank of Commerce (CM.TO), Canada’s No. 5 bank, said on Thursday its fourth-quarter profit slipped 1.9 percent, due to higher loan-loss provisions and one-time charges.

CIBC earned C$836 million ($782.00 million), or C$2.05 a share, in the quarter ended October 31. That compared with a profit of C$852 million, or C$2.02 a share, in the year-before period.

Reporting by Cameron French Editing by W Simon

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below