December 13, 2017 / 2:14 PM / a year ago

CIBC sees proportion of profits from U.S. doubling in 3 years

TORONTO, Dec 13 (Reuters) - Canadian Imperial Bank of Commerce expects the proportion of its earnings coming from the United States to nearly double in the next three years, its chief financial officer said on Wednesday.

CIBC anticipates its U.S. business will contribute 17 percent of the bank’s overall earnings by 2020 compared with 9 percent in 2017, CFO Kevin Glass told analysts during an investor update. (Reporting by Matt Scuffham Editing by Chizu Nomiyama)

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