May 22, 2019 / 10:10 AM / 5 months ago

CIBC posts marginal rise in profit on higher expenses, loan loss provisions

May 22 (Reuters) - Canadian Imperial Bank of Commerce reported a marginal rise in adjusted quarterly profit on Wednesday, as higher expenses and loan loss provisions in retail banking offset gains in the bank’s capital markets business.

Adjusted net income attributable to shareholders rose to C$1.36 billion ($1.02 billion), or C$2.97 per share, in the second quarter ended April 30, from C$1.35 billion, or C$2.95 per share, a year earlier. (reut.rs/2K1RYVQ)

Analysts on average were looking for C$2.96 per share, according to Refinitiv IBES data, but it was not immediately clear if the numbers were comparable. ($1 = 1.3386 Canadian dollars) (Reporting By Aparajita Saxena in Bengaluru; Editing by Sriraj Kalluvila)

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