* Q4 EPS C$1.56 vs C$1.06 yr-ago
* Cash EPS C$1.59 vs C$1.09 last year
* Loan losses rise 91 pct to C$424 mln
Dec 3 (Reuters) - Canadian Imperial Bank of Commerce CM.TO said its quarterly profit rose 48 percent, driven by gains related to its structured credit run-off business, volume growth in retail products and lower trading-related interest expenses.
Canada’s fifth-largest bank said it had net income of C$644 million ($613.9 million), or C$1.56 a share, in the fourth quarter ended Oct. 31, higher than C$436 million, or C$1.06 a share, a year earlier.
Cash earnings were C$1.59 a share, up from C$1.09 a share last year.
Analysts on average had expected the bank to post a profit of C$1.31 a share, according to Thomson Reuters I/B/E/S.
However, Toronto-based CIBC said the money it set aside for credit losses surged 91 percent to C$424 million, primarily due to higher losses in the cards, unsecured personal lending and corporate lending portfolios.
Credit woes have plagued global banks as consumers and businesses struggled to repay loans during the recession. CIBC had warned in August that provisions are expected to remain elevated for the next few quarters, before improving.
CIBC shares closed at C$68.48 Wednesday on the Toronto Stock Exchange.
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