TORONTO, Dec 1 (Reuters) - Canadian Imperial Bank of Commerce’s (CM.TO) fourth-quarter profit rose 59 percent due mainly to higher wholesale banking income, it said on Thursday.
Canada’s No. 5 bank earned a net C$794 million ($778 million) or C$1.89 a share, in the quarter ended Oct. 31. That compared with a year-before profit of C$500 million, or C$1.17 a share.
Excluding one-time items, the bank earned C$1.87 a share, it said. Analysts had expected, on average, a profit of C$1.81 per share, according to Thomson Reuters I/B/E/S.
$1=$1.02 Canadian Reporting by Cameron French