TORONTO (Reuters) - Canadian Imperial Bank of Commerce (CM.TO) reported fourth-quarter earnings which were ahead of market expectations, helped by strong growth in its Canadian commercial banking and wealth management business.
Canada’s fifth-biggest lender said earnings per share, excluding one-off items, increased to C$2.81 from C$2.60 a year ago. Analysts had, on average, forecast earnings of C$2.59, Thomson Reuters I/B/E/S data showed.
Earnings per share, including one-off items, rose to C$2.59, from C$2.32 a year ago.
(This version of the story corrects lede to say results were ahead of, not in line with, expectations)
Reporting by Matt Scuffham; editing by Jason Neely