August 22, 2019 / 10:02 AM / 4 months ago

CIBC reports marginal rise in quarterly profit

Aug 22 (Reuters) - Canadian Imperial Bank of Commerce on Thursday reported a marginal rise in quarterly adjusted profit, as higher provision for credit losses in its capital markets unit offset gains in retail and commercial banking businesses.

Net income attributable to common shareholders, excluding one-off items, rose to C$1.38 billion, or C$3.10 per share, in the third quarter ended July 31, from C$1.37 billion, or C$3.08 per share a year earlier. (Reporting by C Nivedita in Bengaluru; Editing by Shounak Dasgupta)

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