TORONTO — CIBC raised its dividend as it reported a fourth-quarter profit of $2.18 billion, up from $1.88 billion a year ago.
The bank said Thursday it will now pay quarterly dividend of $1.07 per share, up from 97 cents per share.
CIBC says its profit for the quarter ended Oct. 31 amounted to $2.20 per diluted share, up from $1.90 per diluted share a year ago.
Revenue for the quarter totalled $7.58 billion, up from $6.62 billion, while the bank’s provision for credit losses amounted to $605 million, up from $419 million a year ago.
On an adjusted basis, CIBC says it earned $2.21 per diluted share, up from an adjusted profit of $1.91 per diluted share in the same quarter last year.
Analysts on average had expected an adjusted profit of $2.08 per share, according to estimates compiled by LSEG Data & Analytics.
“In a dynamic operating environment, our proactive and disciplined approach to managing our business, our resilient capital position and our deep client relationships supported robust growth while maintaining strong credit quality,” CIBC chief executive Harry Culham said in a statement.
CIBC said the growth came as its Canadian personal and business banking business earned $796 million in its latest quarter, up from $792 million a year ago as higher revenue was partially offset by a higher provision for credit losses and higher expenses.
The bank’s Canadian commercial banking and wealth management group earned $603 million, up from $551 million a year ago, while its U.S. commercial banking and wealth management business earned $275 million, up from $200 million a year ago.
CIBC’s capital markets business earned $548 million, up from $346 million in the same quarter last year.
CIBC also announced several senior executive changes Thursday that will be effective Jan. 1.
The bank said Sandy Sharman, senior executive vice-president and group head, people, culture and brand, will transition to the role of special adviser before retiring at the end of 2026.
CIBC also said Christina Kramer, senior executive vice-president and chief administrative officer, will add responsibility for enterprise real estate, enterprise capabilities and organizational agility, brand, community investment, client experience, communications, and corporate events
Richard Jardim will be appointed senior executive vice-president and chief technology and information officer, global technology, data and AI, while Yvonne Dimitroff will become executive vice-president and chief human resources officer, people, culture and talent.
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This report by The Canadian Press was first published Dec. 4, 2025.
