Canada’s TD, CIBC profits beat estimates; strong lending offsets higher costs, provisions

Toronto-Dominion Bank (TD.TO) and Canadian Imperial Bank of Commerce (CM.TO) on Thursday posted better-than-expected third-quarter profits lifted by higher revenues as lending grew strongly. Canadian banks have seen strong loan growth and margin expansion in the third quarter. But that has been countered to some degree by higher provisions for credit losses to protect against […]

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Canada’s CIBC reports lower profit on higher expenses, loan-loss provisions

Canadian Imperial Bank of Commerce (CM.TO) on Thursday beat analysts’ estimates for third-quarter profit, which declined from a year earlier as higher expenses and provisions for credit losses outweighed strong lending growth, and as capital markets earnings fell. Net income, excluding one-off items, fell to C$1.85 per share for the three months ended July 31 […]

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