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Photo by Peter J. Thompson/National PostCanadian Imperial Bank of Commerce posted third-quarter earnings that topped analysts’ expectations Thursday, as the bank reported growth across all divisions, particularly in its U.S. business, Canadian retail banking and capital markets. 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 bank reported net income of $2.4 billion for the three months ending July 31, up 15 per cent from the same period last year. Net earnings per share came in at $2.47. 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 againAdjusted net income, which removes the impact of nonrecurring items, increased 26 per cent to approximately $2.6 billion. Adjusted earnings per share were $2.73, up 26 per cent from the $2.16 reported a year ago and higher than analysts’ forecasts of $2.52 per share. CIBC also declared a dividend of $1.07 per common share for the third quarter of 2026, unchanged from the previous quarter and up from $0.97 cents a year earlier. “We continue to accelerate the execution of our strategy, driving another quarter of strong financial results including double-digit growth in net income and a higher return on equity compared to a year ago,” CIBC chief executive Harry Culham said in a release.Higher equity trading and financing revenue in global markets and lower PCLs helped third-quarter net income in CIBC’s capital markets division increase 34 per cent to $722 million.Earnings in its U.S. commercial banking and wealth management segment increased 23 per cent to $320 million on higher revenue and lower PCLs.Canadian personal and business banking net income grew 17 per cent year-over-year to $948 million, driven by higher revenue and partially offset by higher non-interest expenses and higher PCLs.Return on equity, a key measure of profitability, increased to 15.2 per cent from 14.2 per cent a year earlier. The bank’s adjusted ROE was 16.8 per cent, compared to 14.2 per cent a year ago. CIBC’s provision for credit losses, the amount of money the bank set aside to cover loans that may potentially default, was $564 million, up slightly from $559 million a year earlier and down from $605 million in the second quarter of 2026. Third-quarter earnings season for Canada’s Big Six banks wraps up Thursday with reports from CIBC, Royal Bank of Canada and Toronto-Dominion Bank. Earlier this week, Bank of Nova Scotia, Bank of Montreal and National Bank of Canada all reported results that exceeded analysts’ estimates. More to come… 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.