Canadian Imperial Bank of Commerce T.CM

Alternate Symbol(s): CM | T.CM.PR.Q | T.CM.PR.P | T.CM.PR.S

Financial Services Banks - Global

Canadian Imperial Bank of Commerce is a Canada-based financial institution. The Company has over 14 million personal banking, business, public sector and institutional clients in Canada, the United States and around the world. The Company has four strategic business units (SBUs): Canadian Personal and Business Banking, Canadian Commercial Banking and Wealth Management, U.S. Commercial Banking and Wealth Management, and Capital Markets and Direct Financial Services. Its Canadian Personal and Business Banking provides personal and business clients across Canada with financial advice, services and solutions through banking centers, as well as mobile and online channels. Its Canadian Commercial Banking and Wealth Management provides relationship-oriented banking and wealth management services to middle-market companies, entrepreneurs, high-net-worth individuals and families across Canada, as well as asset management services to institutional investors.

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Canadian Imperial Bank of Commerce

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Post by Wabatchon Jan 14, 2015 1:25pm

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Post# 23318822

CIBC and other banks grossly oversold?

CIBC CEO Victor Dodig today said that CIBC's oil and gas loan exposure is only $5.2 B, or 2 % of its total loans, and that even if the price of oil were to remain at $40 for two years hence that the bank's energy exposure and loan losses would be manageable. He fully expects energy companies that have loans with the bank to sacrifice capital expenditures or dividends in order to continue to meet their payments.

Obviously low oil affects other businesses to which the banks have loans, some for the worse and some for the better, but is the steep decline in SP we have witnessed justified by the facts?

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