CIBC fourth-quarter profit jumps on capital markets strength
In this article:
Nov 30 (Reuters) - Canadian Imperial Bank of Commerce reported a jump in fourth-quarter profit on Thursday, as a strong performance from its capital markets unit helped offset the hit from bigger provisions.
The bank reported adjusted net income of C$1.52 billion ($1.12 billion), or C$1.57 per share, for the three months ended Oct. 31, compared with C$1.31 billion, or C$1.39 per share, a year earlier.
($1 = 1.3603 Canadian dollars) (Reporting by Niket Nishant in Bengaluru; Editing by Krishna Chandra Eluri)
