CIBC (CM) Q2 2026 earnings summary

Executive summary

• Achieved strong year-over-year growth in Q2 2026, with reported net income up 23% to $2,465 million and revenue up 14% to $8,006 million, driven by robust performance across all business units.

• Adjusted diluted EPS rose 24% year-over-year to $2.54, marking the eighth consecutive quarter of double-digit EPS growth.

• Return on equity improved to 16.4%, up 250 bps year-over-year (adjusted and reported).

• Announced sale of 91.67%–92% interest in CIBC Caribbean for US$1.6 billion, expected to close in H1 2027, reallocating capital to North American growth priorities.

• Recognized for excellence in youth, student, and private banking, as well as innovation and sustainability leadership.

Financial highlights

• Revenue reached $8,006 million, up 14% year-over-year, with double-digit growth across all business lines.

• Adjusted net income was $2,471 million, up 23% year-over-year; pre-provision, pre-tax earnings rose 19%.

• Non-interest income grew 13% to $3.7 billion, with market-related fees up 18%.

• Expenses increased 10% year-over-year, mainly due to higher compensation and technology spend.

• CET1 ratio increased to 13.6%, up 20 bps sequentially; liquidity coverage ratio averaged 131%.

Outlook and guidance

• Management expects continued broad-based growth, supported by a strong balance sheet and disciplined execution.

• CET1 ratio expected to increase by 24 bps upon closing of CIBC Caribbean sale.

• Dividend growth targeted annually, aligned with earnings and sustainable across market cycles.

• Loan growth expected in Canadian and U.S. commercial banking as trade uncertainty eases.

• Wealth management and capital markets expected to benefit from strong equity markets and M&A activity.