Canadian commercial banking and wealth management segment posted a net income of $549M.

CIBC reported a second-quarter profit of $2 billion, up from $1.8 billion in the same quarter last year.

Revenue totalled $7 billion, up from $6.2 billion. The higher revenue was mainly driven by volume growth and a higher net interest margin.

CIBC’s Canadian commercial banking and wealth management segment reported a net income of $549 million for the second quarter, up 13% or $61 million from the same quarter a year ago. The increase was primarily due to higher revenue, partially offset by higher non-interest expenses and a higher provision for credit losses.

Provisions for credit losses totalled $605 million, up from $514 million last year.

In wealth management, the increase in revenue came from higher fee-based revenue as average assets under administration (AUA) and assets under management (AUM) balances rose as a result of market appreciation. Higher net interest income and commission revenue from increased client activity also contributed.

The bank had $3.8 trillion in AUA and $376 billion in AUM as of April 30, 2025, compared to $3.3 trillion and $349 billion, respectively, at the same time last year.

CIBC reported a net income of $81 million from insurance activities in the second quarter, down from $87 million during the same quarter last year.

On an adjusted basis, CIBC says it earned $2.05 per share, up from $1.75 per share a year ago. Analysts on average had expected earnings of $1.89 per share, according to LSEG Data & Analytics.