Canadian Imperial Bank of Commerce (CM) Q2 Profit Rises on Capital Markets Strength

Canadian Imperial Bank of Commerce (CM) reported higher second-quarter profit on Thursday, May 28, 2026, as strength in capital markets and wealth management offset a rise in loan-loss provisions. Net income for the fiscal quarter ended April 30, 2026, climbed to C$1.82 billion, or C$1.92 per share, from C$1.69 billion, or C$1.78 per share, a year earlier. Adjusted earnings per share of C$1.96 beat the average analyst estimate of C$1.89. Total revenue rose 5% to C$6.55 billion. Capital markets revenue surged 12% to C$1.48 billion, driven by higher trading fees and advisory work. Wealth management revenue increased 8% to C$1.12 billion, while Canadian personal and business banking net income edged up 2% to C$680 million as loan growth moderated. Provisions for credit losses increased to C$320 million from C$280 million a year ago, reflecting economic uncertainty. The bank's common equity tier 1 ratio improved to 13.1% from 12.8%. CIBC raised its quarterly dividend by 3% to C$0.85 per share.