CM changes
Pick any two versions below to diff them.
- Price
- CA$162.69 → CA$166.02(+2.0%)
- Risks
- Credit losses can rise if the economy in Canada weakens. Trade tension between Canada and the United States can hurt business clients and households. The loan loss ratio rose to 0.40% in Q3 fiscal 2026 from 0.33% a year earlier, and provisions on impaired loans rose in Canadian lending and Capital Markets. A large part of the profit growth came from markets. Capital Markets net income rose 34% in Q3 fiscal 2026, mainly from equity trading and financing. If markets slow, this profit can fall quickly. Costs rise with investment in technology and AI. Reported non-interest expenses were $4.69 billion in Q3 fiscal 2026, up from $3.98 billion, and the reported efficiency ratio was 56.0%. If revenue growth slows, returns can fall. removed: The added: Butterfield shareholders approved the share issue for the sale of CIBC Caribbean added: on September 18, 2026, but the sale still needs approval by removed: Butterfield shareholders and regulators. CIBC also gives indemnities and will hold about 22% of Butterfield, so it keeps some exposure to the region.
- Recent events
- added: Oct 30, 2026: CIBC appointed Bill Morneau, an independent director since 2022, as Chair of the Board from January 1, 2027. He succeeds Katharine B. Stevenson, who retires from the Board on December 31, 2026. Sep 18, 2026: Butterfield shareholders voted for the issue of Butterfield shares for its purchase of CIBC Caribbean. Butterfield still expects the sale to close in the first half of 2027. Aug 27, 2026: CIBC reported Q3 fiscal 2026 results. Revenue rose 15% to $8.37 billion. Reported net income was $2.41 billion and reported diluted EPS was $2.47. Adjusted net income rose 26% to $2.65 billion, adjusted diluted EPS was $2.73 and adjusted ROE was 16.8%. Capital Markets net income rose 34% to $722 million. Results included charges of $269 million for the sale of CIBC Caribbean. The CET1 ratio was 13.4%. Jul 6, 2026: CIBC closed its purchase of a 19.15% equity interest in Ampersand Partners (&Partners), a U.S. private wealth management firm, and became its strategic banking partner. Jun 19, 2026: OSFI lowered the Domestic Stability Buffer for the large Canadian banks to 3.0% from 3.5% of risk-weighted assets. The CET1 target with all buffers fell to 11.0%. Jun 4, 2026: CIBC announced a new normal course issuer bid to buy back up to 30 million common shares until June 7, 2027. Its previous bid of 20 million shares ended on May 25, 2026. May 28, 2026: CIBC reported Q2 fiscal 2026 results. Reported diluted EPS was $2.53, adjusted diluted EPS was $2.54 and adjusted ROE was 16.4%. May 27, 2026: CIBC agreed to sell its 91.67% interest in CIBC Caribbean Bank to Butterfield for about US$1.645 billion: US$1 billion in cash and Butterfield shares then worth US$645 million, or about 22% of Butterfield. The sale is expected to close in the first half of 2027. Dec 4, 2025: CIBC reported record fiscal 2025 results. Net income was $8.5 billion. In Q4 fiscal 2025, adjusted diluted EPS was $2.21 and adjusted ROE was 14.1%.