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CIBC profits nearly triple in Q2 after Caribbean troubles a year ago

2015-05-28 13:53:19| Grocery - Topix.net

Canadian Imperial Bank of Commerce says profits nearly tripled in the second quarter as its wholesale banking and wealth management divisions led growth. The bank reported net income of $911 million, or $2.25 per share, compared to $306 million or 73 cents a year ago when the bank logged a $543-million impairment charge linked to a prolonged recession that affected its Caribbean banking subsidiary.

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