19:18:46 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Canadian Imperial Bank of Commerce
Symbol CM
Shares Issued 444,896,225
Close 2019-08-16 C$ 99.04
Market Cap C$ 44,062,522,124
Recent Sedar Documents

Globe says Big Five banks gear up for earnings season

2019-08-19 07:49 ET - In the News

See In the News (C-RY) Royal Bank of Canada

The Globe and Mail reports in its Monday edition that rising trade tensions and weakening growth in major economies loom large as Canadian banks prepare to report earnings for the fiscal third quarter. The Globe's James Bradshaw writes that several analysts are predicting that earnings for each share among Canada's six largest banks will increase by 6 to 7 per cent year over year -- a steady but unspectacular rate-- for the three months that ended July 31. Investors will be watching for signs of weakness in two key measures of the banks' resilience in quarters to come: Provisions for credit losses, or the money banks set aside to cover bad loans, and net interest margin, which measures the spread between what banks pay on deposits and earn from loans. Both could be hampered by global trends such as tariffs and trade wars, U.S. interest-rate cuts and the inverted yield curve. "We do not expect [third-quarter] results to resolve the conflict between the pessimism and optimism surrounding the macroeconomic environment," said CIBC analyst Robert Sedran. "If anything, we expect this conflict to be on full display as we see growth that is neither as strong nor as easily achieved as that of the last couple of years."

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