CIBC grows first-quarter net income to $1.41B
Quarterly revenue climbs to $4.21B
CIBC increased its first-quarter net income to $1.41 billion, up from $982 million a year ago, according to earnings announced Thursday morning.
The quarterly earnings amounted to $3.50 per diluted share, compared with $2.43 per diluted share during the same period last year.
On an adjusted basis, the Toronto-based bank had $1.17 billion of income, or $2.89 per share, compared with $1.03 billion, or $2.55 per share, during the first quarter of 2016.
Quarterly revenue was $4.21 billion, up from $3.59 billion a year ago.