CIBC’s quarterly profit rises on capital markets strength

Canadian Imperial Bank of Commerce reported a rise in second-quarter profit, aided by strong performance in its capital markets business. The update is a modest positive for fundamentals and earnings quality, though no specific profit figures or guidance changes were provided. The news is likely to be stock-specific rather than sector-moving.

Analysis

Canadian Imperial Bank of Commerce reported a rise in second-quarter profit, aided by strong performance in its capital markets business. The update is a modest positive for fundamentals and earnings quality, though no specific profit figures or guidance changes were provided. The news is likely to be stock-specific rather than sector-moving.