RE:Loan loss provisionsProvision for credit losses was down 33% from last quarter and down 28% from the first quarter a year ago. Loan loss ratio was 0.22%. What are you smoking Mr.Silbergleit?
You base your short thesis on an accounting change? No wonder you are losing so much money! My guess is that you are probably the PM/analysts of the Libertas Real Asset Opp Fund from Spartan. You must be busy with fund redemptions lately.
"Provision for credit losses was $153 million, down $59 million or 28% from the first quarter a year ago. The decrease was primarily due to a reduction in allowance for non-impaired loans,
reflecting an economic outlook that improved in the quarter. In addition, provision for credit losses on impaired loans was down primarily due to lower bankruptcies and write-offs in the card and personal lending portfolios."
lnsiderTrader wrote: Loan loss provisions at CIBC increased 32% in Q1 2018! Why? IFRS 9 folks!
Can't wait until HCG next quarter loan loss disclosure! LOL