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Company News

Canadian lender CIBC posts better than expected quarterly earnings

TORONTO, Aug 24 (Reuters) - Canadian Imperial Bank of Commerce reported third-quarter earnings ahead of market expectations, driven by strong performances across all of its businesses.

Canada’s fifth-biggest lender said earnings per share, excluding one-off items, increased to C$2.77 from C$2.67 a year ago, in the quarter to June 30.

Analysts had on average forecast earnings of C$2.66 per share, according to Thomson Reuters I/B/E/S data. (Reporting by Matt Scuffham; Editing by David Goodman)

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