{"componentChunkName":"component---src-templates-blog-post-js","path":"/blog/cibc-q2-profit-more-than-triples-tops-expectations-shares-pop-3/","result":{"data":{"site":{"siteMetadata":{"title":"No Frills News"}},"contentfulNfnPost":{"postTitle":"CIBC Q2 Profit More Than Triples, Tops Expectations; Shares Pop 3%","slug":"cibc-q2-profit-more-than-triples-tops-expectations-shares-pop-3","createdLocal":"2021-05-28 14:30:58.743097","publishDate":"2021-05-27 00:00:00","feedName":"Autonomous Vehicle News","sourceUrl":{"sourceUrl":"https://www.nasdaq.com/articles/cibc-q2-profit-more-than-triples-tops-expectations-shares-pop-3-2021-05-27"},"postSummary":{"childMarkdownRemark":{"html":"<p>Shares of Canadian Imperial Bank of Commerce (CM) jumped 3% in early trading Thursday after Canada’s fifth-largest bank posted strong Q2 profits, driven by falling loan loss provisions and strong capital market results.\nCIBC earned C$3.59 per share on an adjusted basis, which was much higher than the consensus estimate of C$3.01 per share.\nIndeed, the Canadian bank only allocated C$32 million to new provisions in Q2, down from C$1.4 billion a year ago.\nIn the Canadian commercial banking and wealth management unit, profit increased 94% year-on-year to C$399 million, as provisions for credit losses fell.\nCapital markets profit climbed to C$495 million from C$177 million in the same quarter last year.</p>"}}}},"pageContext":{"slug":"cibc-q2-profit-more-than-triples-tops-expectations-shares-pop-3"}}}