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

CIBC profit slips on provisions and charges

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

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