Post by
Betteryear2 on Feb 25, 2022 7:36pm
CIBC Announces First Quarter 2022 Results
TORONTO, Feb. 25, 2022 /CNW/ - CIBC (TSX: CM) (NYSE: CM) today announced its financial results for the first quarter ended January 31, 2022.
First quarter highlights
| | Q1/22 | Q1/21 | Q4/21 | YoY Variance | QoQ Variance |
| Reported Net Income | $1,869 million | $1,625 million | $1,440 million | +15% | +30% |
| Adjusted Net Income (1) | $1,894 million | $1,640 million | $1,573 million | +15% | +20% |
| Reported Diluted Earnings Per Share (EPS) | $4.03 | $3.55 | $3.07 | +14% | +31% |
| Adjusted Diluted EPS (1) | $4.08 | $3.58 | $3.37 | +14% | +21% |
| Reported Return on Common Shareholders' Equity (ROE) (2) | 17.4% | 17.0% | 13.4% | |
| Adjusted ROE (1)(2) | 17.6% | 17.2% | 14.7% |
| Common Equity Tier 1 (CET1) Ratio (2) | 12.2% | 12.3% | 12.4% |
"In the first quarter, the continued execution of our strategy and ongoing investments in our bank enabled us to deliver strong financial results," said Victor G. Dodig, CIBC President and Chief Executive Officer. "Our highly connected and engaged team is guided by our purpose of helping make our clients' ambitions a reality each and every day, which is attracting new business to our bank, deepening existing relationships, and driving strong top line growth across all of our businesses. To support our clear momentum and long-term growth, we continue to invest in our technology and talent to create a modern and exceptional experience for our clients and team, and we're activating our resources to create positive change for our stakeholders as we contribute to a more sustainable, inclusive future."
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