CIBC reported third-quarter net income of $2.41 billion, up 15 per cent from a year earlier, while provisions for credit losses edged up to $564 million from $559 million year over year. Canadian commercial banking and wealth management earned $619 million, up four per cent, while the division’s U.S. counterpart generated $320 million, up 26 per cent, helped by lower credit provisions and higher revenue. (The Logic)

Talking point: Chief risk officer Frank Guse said the bank has continued adding to credit-loss reserves for tariff-related risks, although the business loans it considers most vulnerable to tariffs represent less than one per cent of its total loan book. Jefferies analyst John Aiken said CIBC’s outlook remains challenged by its heavy exposure to the Canadian economy and ongoing trade uncertainty. On AI, CEO Harry Culham pushed back against the idea that adoption would translate into cutting workforce, telling analysts he expects headcount to grow over the next five years even as the bank targets significant AI-driven productivity gains, with investment continuing in both employees and technology. 

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