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TORONTO - Canadian Imperial Bank of Commerce (NYSE:CM) reported better-than-expected fourth quarter earnings on Thursday, as strong revenue growth across all business segments helped the bank exceed analyst forecasts.
The bank’s shares rose 1.11% following the results, reflecting investor satisfaction with the performance.
CIBC posted adjusted earnings per share of CDN$2.21 for the quarter ended October 31, 2025, beating the analyst estimate of CDN$2.07. Revenue came in at CDN$7.58 billion, surpassing the consensus forecast of CDN$7.21 billion.
"We delivered record financial performance in 2025 through the consistent execution of our client-focused strategy, driving high-quality earnings growth and delivering top-tier returns for our shareholders," said Harry Culham, CIBC President and Chief Executive Officer.
Net income for the quarter was CDN$2.18 billion, up 16% from CDN$1.88 billion in the same period last year. The bank’s adjusted pre-provision, pre-tax earnings increased by 20% YoY to CDN$3.41 billion.
Revenue growth was strong across all business segments, with total revenue up 14% compared to the fourth quarter of 2024. The bank’s net interest margin on average interest-earning assets improved to 1.59% from 1.50% a year earlier.
Canadian Personal and Business Banking reported net income of CDN$796 million, while Canadian Commercial Banking and Wealth Management saw net income rise 9.4% to CDN$603 million. Capital Markets was particularly strong with net income of CDN$548 million, up 58% from the same quarter last year.
The bank’s provision for credit losses increased to CDN$605 million from CDN$419 million in the same quarter last year, reflecting an unfavorable change in the economic outlook in Canada and unfavorable credit migration.
CIBC announced an increase in its quarterly dividend from CDN$0.97 to CDN$1.07 per share for the quarter ending January 31, 2026.
"We enter the new fiscal year with continuity in our strategy and a shared vision for accelerating its execution by sharpening client focus and connectivity, driving efficiencies through modernization and elevating our emphasis on human capital," Culham added.
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