CIBC Reports Q4 Provision for Credit Losses of $605 Million, Up 44% YoY

Canadian Imperial Bank of Commerce (CIBC) reported a Q4 provision for credit losses of $605 million, up 44% from the same quarter last year. The bank also declared a dividend of $1.07 per share, an increase of $0.10 per share from the previous quarter. CIBC's Q4 adjusted diluted EPS was $2.21, beating FactSet's estimate of $2.08.