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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (138912)	8/31/2023 9:38:38 AM
From: Goose94	Read Replies (2) \| Respond to of 202902

Canadian Imperial Bank of Commerce (CM-T) misses expectations CIBC missed earnings expectations by a wide margin due to higher provisions for credit losses associated with its commercial real estate exposure. While provisions have been coming in higher across the board, CIBC’s PCL surprise was almost double the expectation. This was due to losses related to U.S. office exposure and reserve build for consumer portfolio. Outside of this, underlying results were decent. Canadian banking performed well and margins expanded from the previous quarter. Their capital levels also increased more than expected. BNN.ca