TORONTO — CIBC reported a first-quarter profit of $3.10 billion, up from $2.17 billion a year earlier.
The bank said Thursday the profit amounted to $3.21 per diluted share for the quarter ended Jan. 31, up from $2.19 per diluted share in the same quarter a year earlier.
Revenue totalled $8.40 billion, up from $7.28 billion.
The bank’s provision for credit losses amounted to $568 million for the quarter, down from $573 million in the same quarter last year.
On an adjusted basis, CIBC says it earned $2.76 per diluted share in its latest quarter, up from an adjusted profit of $2.20 per diluted share a year earlier.
The average analyst estimate had been for an adjusted profit of $2.40 per share, according to LSEG Data & Analytics.
CIBC chief executive Harry Culham said the bank delivered strong financial performance in the quarter including record revenue across all of its business units.
“We’re driving growth through deep client relationships while maintaining our financial strength and risk discipline and we’re working closely with our clients as they navigate a more fluid operating environment,” Culham said in a statement.
CIBC reported its Canadian personal and business banking business earned $960 million for the first quarter, up from $765 million a year earlier, helped by higher revenue, partially offset by higher non-interest expenses and a higher provision for credit losses.
The bank’s Canadian commercial banking and wealth management business earned $647 million in the quarter, up from $591 million a year ago.
Meanwhile, CIBC’s U.S. commercial banking and wealth management operations earned $294 million, up from $256 million in the same quarter last year.
CIBC’s capital markets business earned $877 million in the quarter, up from $619 a year earlier.
This report by The Canadian Press was first published Feb. 26, 2026.
