Canadian Imperial Bank of Commerce (NYSE:CM) FY Conference March 24, 2026 11:30 AM ET Company ParticipantsSusan Rimmer - Group Head of Canadian Commercial Banking and WealthConference Call ParticipantsGabriel Dechaine - Managing Director and Senior Equity AnalystGabriel DechaineAll right, for our last fireside before the lunch break, thank God. Susan Rimmer from CIBC, Group Head of Canadian Commercial Banking and Wealth, welcome to the stage. Good to have you here, and look forward to the discussion. Fellow ...

Canadian Imperial Bank of Commerce (NYSE:CM) is one of Billionaire Ken Fisher’s 15 Most Notable Moves for 2026. Canadian Imperial Bank of Commerce (NYSE:CM) was only added to the 13F portfolio of Fisher Asset Management in the second quarter of 2022, after a decade-long gap. Previously, the fund had owned shares in the banking firm from 2010 till early 2012. That stake had been a minor one though, consisting of just under 50,000 shares at its peak. However, the latest holding comprises more than 2 million ...

加拿大帝国商业银行（CIBC）将SSR矿业公司的评级从中性上调至跑赢大盘。 ...

加拿大帝国商业银行宣布SSR矿业公司的目标股价为每股48.00美元。 ...

Summary of Canadian Imperial Bank of Commerce (CIBC) Conference Call Company Overview - **Company**: Canadian Imperial Bank of Commerce (CIBC) - **Ticker**: NYSE:CM - **Date of Conference**: March 10, 2026 Key Points Financial Performance - CIBC reported a **17.4% Return on Equity (ROE)** for Q1, indicating strong performance relative to peers [3][4] - The bank experienced **high relative EPS growth**, marking one of the strongest quarters in recent history [4] Strategic Focus - CIBC emphasizes a **disciplined execution strategy** that has been effective in enhancing client relationships and service quality [5] - The bank is focusing on **affluent clients** and improving technology to support better customer interactions [5][6] Retail Banking Insights - The retail loan growth environment is described as **muted**, particularly in the housing market [8][9] - CIBC has shifted focus from mortgage products to **transaction accounts** (checking, savings, credit cards) to deepen client relationships [10][11] - Overall loan growth is expected to remain in the **low single-digit range** [12] Net Interest Margin (NIM) - CIBC has seen **NIM expansion**, with a **10 basis points increase quarter-to-quarter** [15] - The bank attributes NIM growth to a favorable business mix and strategic focus on higher-margin products [18][19] - Future NIM performance may be influenced by the mortgage market dynamics [20] Revenue Growth Expectations - CIBC anticipates a **slowdown in revenue growth** from the current levels, targeting **7%-10% earnings growth** in the medium term [23][24] - The bank has maintained a strong operating leverage, achieving **4% operating leverage** over the last ten quarters [25][29] Credit Quality and Risks - There has been a **mild deterioration in consumer credit quality**, with an increase in **90-day delinquencies** across various segments [31][32] - CIBC remains comfortable with its **impaired loss guidance**, expecting no significant losses despite rising delinquency rates [33][34] Capital Management - CIBC has been active in **share buybacks**, repurchasing **8 million shares in Q1**, up from 3.5 million in Q4 [47][50] - The bank's **CET1 ratio** stands at **13.4%**, with plans to maintain a balanced approach to capital management [49][56] Private Credit Exposure - CIBC is comfortable with its **private credit exposure**, focusing on high-quality sponsors and diversified portfolios [40][41] - Growth in private credit is expected to be at a **moderate pace**, aligning with overall bank growth [42][46] Capital Deployment Strategy - The bank is focused on **organic growth** as the primary capital deployment strategy, with limited appetite for large acquisitions [64][65] - CIBC is looking for **tuck-in acquisitions** in the U.S. market, particularly in commercial banking and wealth management [65] Capital Markets Performance - CIBC's Capital Markets business has shown strong growth, with **35%-40% of revenues** coming from the U.S. [67][68] - The bank is investing in technology and systems to enhance its Capital Markets platform, which is expected to continue growing [70] Conclusion - CIBC is focused on executing its strategic plan, leveraging its strengths in client relationships and operational efficiency to drive future growth [71]

Group 1 - The article discusses the ability to conduct contactless transactions over $250 CAD, which is primarily limited by the merchant and the issuing financial institution [1] - A list of financial institutions that support Tap (Mobile) and Tap (Card) transactions over $250 includes any U.S. issued credit card (Chase, C1, Amex US) and Neo Financial [1] - The article also identifies financial institutions that support Tap (Mobile) transactions over $250, while Card Tap is limited to $250 or under [1] Group 2 - A list of financial institutions that do not support Tap transactions over $250 includes Canadian Imperial Bank of Commerce, American Express Canada, Bank of Nova Scotia, Wealthsimple, Royal Bank of Canada, and TD Canada Trust [2][3]

Financial Performance - Canadian Imperial Bank of Commerce reported adjusted net income of CAD 2.7 billion for FQ1 2026, marking a 23% increase year-over-year [1] - Total revenue rose by 15% to CAD 8.4 billion, driven by significant margin expansion and an 18% increase in non-interest income [1] Business Segments - Growth was broad-based across all business segments, with the Capital Markets division experiencing a 42% rise in net income [2] - The Canadian Personal & Business Banking unit benefited from a 34-basis-point year-over-year improvement in net interest margins, attributed to a favorable business mix and higher deposit levels [2] Credit Performance - Provisions for credit losses totaled CAD 568 million, with a slight increase in the gross impaired loan ratio to 64 basis points [3] - New impairments in the business sector declined, although there were modest increases in credit card delinquencies and write-offs [3] - The mortgage portfolio remains healthy with strong loan-to-value ratios, supporting management's confidence in the bank's full-year guidance [3] Company Overview - Canadian Imperial Bank of Commerce is a diversified financial institution providing various financial products and services to personal, business, public sector, and institutional clients in Canada, the US, and internationally [4]

Core Insights - Avantus has secured over $300 million in financing for the Kitt Solar and Energy Storage Project from BBVA and CIBC [1] Financing Details - The financing package includes construction funding, a tax equity bridge loan, and letters of credit [1] - The Kitt project features 100 MWac/130 MWdc of solar capacity and 400 MWh of energy storage [1] Project Location - The Kitt Solar and Energy Storage Project is located in Pinal County, Arizona, within the City of Eloy [1]

Core Insights - Canada's largest banks are increasing their loan loss provisions due to economic uncertainty and rising living costs affecting households and businesses [1][2] - Despite setting aside these provisions, the banks reported multi-billion-dollar profits in the latest quarter [2] Loan Loss Provisions - Royal Bank of Canada added C$1.09 billion to its loan loss provisions, up from C$1.05 billion a year earlier [8] - Scotiabank increased its provisions by C$1.176 billion, slightly higher than the previous year [8] - TD Bank topped up its provisions by C$1.04 billion, a slight decrease from the prior year [8] - CIBC set aside an additional C$568 million, down from last year [8] - National Bank's provision for credit losses was C$244 million, down from C$254 million a year earlier [9] Housing Market Insights - Canada's total mortgage debt reached nearly C$2 trillion last year, with many households expected to apply for mortgage renewals [3] - The housing market is anticipated to remain "subdued" through most of 2026, with a potential housing recession if economic conditions worsen [7] - BMO's chief risk officer noted an increase in delinquencies, indicating stress in the Canadian consumer market [4][6] Economic Conditions - Interest rates significantly impact the affordability of mortgages and loans, with the Bank of Canada's benchmark rate currently at 2.25% [9] - CIBC's chief risk officer acknowledged ongoing economic softness, with fluctuating unemployment rates and uncertainty surrounding trade agreements [10][11]

Core Insights - Canadian fixed income trading platform CanDeal is launching a vendor due diligence service aimed at the six largest domestic banks in Canada, with potential for global expansion in the future [1] Group 1: Service Overview - The new utility is designed to streamline third-party risk management and regulatory compliance for BMO, CIBC, National Bank of Canada, RBC, Scotiabank, and TD Bank [1] Group 2: Leadership - Jayson Horner serves as the chief executive of CanDeal, indicating leadership involvement in the launch of this new service [1]