CIBC Reports Higher First Quarter Profit of 3.1 Billion
CIBC reported a first-quarter profit of 3.10 billion dollars today. The results were driven by a strong performance in the bank's capital markets division.
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The Canadian Imperial Bank of Commerce reported a substantial increase in its first-quarter profit, driven by significant strength within its capital markets business. The major lender in Canada saw its net income rise to C$3.10 billion ($2.27 billion) for the three months ending January 31, a sharp climb from the C$2.17 billion recorded during the same period the previous year.
