December 1, 2016 / 11:07 AM / in a year

CIBC's profit rises 19.7 percent

Dec 1 (Reuters) - Canadian Imperial Bank of Commerce , Canada’s fifth-biggest lender, reported a 19.7 percent rise in fourth-quarter profit, benefiting from growth in its retail and business banking units as well as its capital markets division.

The bank’s net income rose to C$931 million ($694 million), or C$2.32 per share, in the quarter ended Oct. 31 from C$778 million, or C$1.93 cents per share, a year earlier. ($1 = 1.3407 Canadian dollars) (Reporting by Anet Josline Pinto in Bengaluru and Matt Scuffham in Toronto)

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