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Company News

CIBC reports 4% fall in quarterly profit

Dec 5 (Reuters) - Canadian Imperial Bank of Commerce on Thursday reported a 4% fall in quarterly adjusted profit, hurt by weakness in its capital markets unit and domestic banking business.

Net income attributable to common shareholders, excluding one-off items, fell to C$1.31 billion ($984.89 million), or C$2.84 per share in the fourth quarter ended Oct. 31, from C$1.36 billion, or C$3.00 per share a year ago. ($1 = 1.3301 Canadian dollars) (Reporting by C Nivedita in Bengaluru; Editing by Krishna Eluri)

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