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Or sign-in if you have an account.CIBC beat estimates Thursday and announced it was selling its Caribbean business for US$1.6 billion. Photo by Peter J. Thompson/National PostCanadian Imperial Bank of Commerce beat estimates, fuelled in part by volatile markets that led to higher trading revenue, and announced a deal to offload a Caribbean business for US$1.6 billion.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorThe lender earned $2.54 a share on an adjusted basis in its fiscal second quarter, according to a statement Thursday, topping analysts’ $2.42 average estimate. Net income totalled $2.47 billion, also higher than forecasts.Toronto-based CIBC extended its more than two-year streak of surpassing analyst estimates by showing growth across all its businesses.Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try againChief executive Harry Culham, who took over last year, has been seeking to boost CIBC’s presence with mass-affluent clients in Canada and the United States, expand its digital personal banking capabilities and leverage artificial intelligence.The bank struck a deal to sell its 91.7 per cent interest in CIBC Caribbean to the Bank of N.T. Butterfield & Son Ltd. for about US$1.6 billion, exiting an asset in which it has a long history. That deal, which is expected to close in the first half of 2027, will provide capital that CIBC can reallocate toward other North American priorities, the bank said.The bank’s adjusted return on equity was 16.4 per cent, down from 17.4 per cent in the first quarter. Banks are weathering a volatile few months around the globe with the war in Iran sending oil prices up and fears about the impact of AI. Culham said in April that it’s been an “unsettled geopolitical environment.”For trading desks, that volatility can be a boon. CIBC said that both equities and fixed-income trading posted higher revenue. Rival Bank of Montreal also benefited from better-than-forecast results at its capital-markets unit.— With assistance from Christine Dobby. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.