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Segmented information | 6 Months Ended
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Apr. 30, 2025
Text Block [Abstract] |
Segmented information | Note 15. Segmented information CIBC has four strategic business units (SBUs) – Canadian Personal and Business Banking, Canadian Commercial Banking and Wealth Management, U.S. Commercial Banking and Wealth Management, and Capital Markets. These SBUs are supported by Corporate and Other. Canadian Personal and Business Banking provides personal and business clients across Canada with financial advice, services and solutions through banking centres, as well as mobile and online channels, to help make their ambitions a reality. Canadian Commercial Banking and Wealth Management provides high-touch, relationship-oriented banking and wealth management services to middle-market companies, entrepreneurs, high-net-worth individuals and families across Canada, as well as an online brokerage platform to retail customers and asset management services to institutional investors. U.S. Commercial Banking and Wealth Management provides tailored, relationship-oriented banking and wealth management solutions across the U.S., focusing on middle-market and mid-corporate companies, entrepreneurs, high-net-worth individuals and families, as well as operating personal and small business banking services in six U.S. markets. Capital Markets provides integrated global markets products and services, investment banking and corporate banking solutions, and top-ranked research to our clients around the world. Leveraging the capabilities of our differentiated platform, Capital Markets also delivers multi-currency payments and innovative solutions for clients across our bank. Corporate and Other includes the following functional groups – Technology, Infrastructure and Innovation, Risk Management, People, Culture and Brand, and Finance, as well as other support groups. The expenses of these functional and support groups are generally allocated to the business lines within the SBUs. Corporate and Other also includes the results of CIBC Caribbean and other portfolio investments, as well as other income statement and balance sheet items not directly attributable to the business lines. External reporting changes were made in the first quarter of 2025, which affected the results of our SBUs. See the shaded section in “MD&A – External reporting changes” for additional details.
$ millions, for the three months ended |  | Canadian Personal and Business Banking |  |  | Canadian Commercial Banking and Wealth Management |  |  | U.S. Commercial Banking and Wealth Management |  |  | Capital Markets |  |  | Corporate and Other |  |  | CIBC Total |
2025 |  | Net interest income |  | $ | 2,272 |  |  | $ | 707 |  |  | $ | 536 |  |  | $ | 171 |  |  | $ | 102 |  |  | $ | 3,788 |
Apr. 30 |  | Non-interest income (1) |  |  | 587 |  |  |  | 933 |  |  |  | 233 |  |  |  | 1,374 |  |  |  | 107 |  |  |  | 3,234 |
|  | Total revenue |  |  | 2,859 |  |  |  | 1,640 |  |  |  | 769 |  |  |  | 1,545 |  |  |  | 209 |  |  |  | 7,022 |
|  | Provision for credit losses |  |  | 389 |  |  |  | 54 |  |  |  | 123 |  |  |  | 34 |  |  |  | 5 |  |  |  | 605 |
|  | Amortization and impairment (2) |  |  | 57 |  |  |  | – |  |  |  | 25 |  |  |  | – |  |  |  | 199 |  |  |  | 281 |
|  | Other non-interest expenses |  |  | 1,421 |  |  |  | 833 |  |  |  | 416 |  |  |  | 719 |  |  |  | 149 |  |  |  | 3,538 |
|  | Income (loss) before income taxes |  |  | 992 |  |  |  | 753 |  |  |  | 205 |  |  |  | 792 |  |  |  | (144 | ) |  |  | 2,598 |
|  | Income taxes |  |  | 258 |  |  |  | 204 |  |  |  | 32 |  |  |  | 226 |  |  |  | (129 | ) |  |  | 591 |
|  | Net income (loss) |  | $ | 734 |  |  | $ | 549 |  |  | $ | 173 |  |  | $ | 566 |  |  | $ | (15 | ) |  | $ | 2,007 |
|  | Net income (loss) attributable to: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Non-controlling interests |  | $ | – |  |  | $ | – |  |  | $ | – |  |  | $ | – |  |  | $ | 9 |  |  | $ | 9 |
|  | Equity shareholders |  |  | 734 |  |  |  | 549 |  |  |  | 173 |  |  |  | 566 |  |  |  | (24 | ) |  |  | 1,998 |
|  | Average assets (3)(4) |  | $ | 337,350 |  |  | $ | 102,709 |  |  | $ | 65,820 |  |  | $ | 370,517 |  |  | $ | 219,610 |  |  | $ | 1,096,006 |
2025 |  | Net interest income |  | $ | 2,326 |  |  | $ | 718 |  |  | $ | 562 |  |  | $ | 70 |  |  | $ | 125 |  |  | $ | 3,801 |
Jan. 31 (5) |  | Non-interest income (1) |  |  | 597 |  |  |  | 985 |  |  |  | 285 |  |  |  | 1,504 |  |  |  | 109 |  |  |  | 3,480 |
|  | Total revenue |  |  | 2,923 |  |  |  | 1,703 |  |  |  | 847 |  |  |  | 1,574 |  |  |  | 234 |  |  |  | 7,281 |
|  | Provision for credit losses |  |  | 428 |  |  |  | 39 |  |  |  | 68 |  |  |  | 21 |  |  |  | 17 |  |  |  | 573 |
|  | Amortization and impairment (2) |  |  | 58 |  |  |  | 1 |  |  |  | 23 |  |  |  | 1 |  |  |  | 203 |  |  |  | 286 |
|  | Other non-interest expenses |  |  | 1,402 |  |  |  | 852 |  |  |  | 447 |  |  |  | 704 |  |  |  | 187 |  |  |  | 3,592 |
|  | Income (loss) before income taxes |  |  | 1,035 |  |  |  | 811 |  |  |  | 309 |  |  |  | 848 |  |  |  | (173 | ) |  |  | 2,830 |
|  | Income taxes |  |  | 270 |  |  |  | 220 |  |  |  | 53 |  |  |  | 229 |  |  |  | (113 | ) |  |  | 659 |
|  | Net income (loss) |  | $ | 765 |  |  | $ | 591 |  |  | $ | 256 |  |  | $ | 619 |  |  | $ | (60 | ) |  | $ | 2,171 |
|  | Net income (loss) attributable to: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Non-controlling interests |  | $ | – |  |  | $ | – |  |  | $ | – |  |  | $ | – |  |  | $ | 8 |  |  | $ | 8 |
|  | Equity shareholders |  |  | 765 |  |  |  | 591 |  |  |  | 256 |  |  |  | 619 |  |  |  | (68 | ) |  |  | 2,163 |
|  | Average assets (3)(4) |  | $ | 338,184 |  |  | $ | 100,474 |  |  | $ | 65,791 |  |  | $ | 375,453 |  |  | $ | 218,905 |  |  | $ | 1,098,807 |
2024 |  | Net interest income (6) |  | $ | 2,065 |  |  | $ | 483 |  |  | $ | 458 |  |  | $ | 213 |  |  | $ | 62 |  |  | $ | 3,281 |
Apr. 30 (5) |  | Non-interest income (1) |  |  | 581 |  |  |  | 973 |  |  |  | 211 |  |  |  | 1,030 |  |  |  | 88 |  |  |  | 2,883 |
|  | Total revenue (6) |  |  | 2,646 |  |  |  | 1,456 |  |  |  | 669 |  |  |  | 1,243 |  |  |  | 150 |  |  |  | 6,164 |
|  | Provision for credit losses |  |  | 274 |  |  |  | 37 |  |  |  | 186 |  |  |  | 12 |  |  |  | 5 |  |  |  | 514 |
|  | Amortization and impairment (2) |  |  | 58 |  |  |  | 1 |  |  |  | 25 |  |  |  | 2 |  |  |  | 202 |  |  |  | 288 |
|  | Other non-interest expenses |  |  | 1,347 |  |  |  | 749 |  |  |  | 375 |  |  |  | 584 |  |  |  | 158 |  |  |  | 3,213 |
|  | Income (loss) before income taxes |  |  | 967 |  |  |  | 669 |  |  |  | 83 |  |  |  | 645 |  |  |  | (215 | ) |  |  | 2,149 |
|  | Income taxes (6) |  |  | 261 |  |  |  | 181 |  |  |  | (9 | ) |  |  | 173 |  |  |  | (206 | ) |  |  | 400 |
|  | Net income (loss) |  | $ | 706 |  |  | $ | 488 |  |  | $ | 92 |  |  | $ | 472 |  |  | $ | (9 | ) |  | $ | 1,749 |
|  | Net income (loss) attributable to: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Non-controlling interests |  | $ | – |  |  | $ | – |  |  | $ | – |  |  | $ | – |  |  | $ | 10 |  |  | $ | 10 |
|  | Equity shareholders |  |  | 706 |  |  |  | 488 |  |  |  | 92 |  |  |  | 472 |  |  |  | (19 | ) |  |  | 1,739 |
|  | Average assets (3)(4) |  | $ | 332,058 |  |  | $ | 94,554 |  |  | $ | 60,417 |  |  | $ | 304,648 |  |  | $ | 198,345 |  |  | $ | 990,022 |
$ millions, for the six months ended |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2025 |  | Net interest income |  | $ | 4,598 |  |  | $ | 1,425 |  |  | $ | 1,098 |  |  | $ | 241 |  |  | $ | 227 |  |  | $ | 7,589 |
Apr. 30 |  | Non-interest income (1) |  |  | 1,184 |  |  |  | 1,918 |  |  |  | 518 |  |  |  | 2,878 |  |  |  | 216 |  |  |  | 6,714 |
|  | Total revenue |  |  | 5,782 |  |  |  | 3,343 |  |  |  | 1,616 |  |  |  | 3,119 |  |  |  | 443 |  |  |  | 14,303 |
|  | Provision for credit losses |  |  | 817 |  |  |  | 93 |  |  |  | 191 |  |  |  | 55 |  |  |  | 22 |  |  |  | 1,178 |
|  | Amortization and impairment (2) |  |  | 115 |  |  |  | 1 |  |  |  | 48 |  |  |  | 1 |  |  |  | 402 |  |  |  | 567 |
|  | Other non-interest expenses |  |  | 2,823 |  |  |  | 1,685 |  |  |  | 863 |  |  |  | 1,423 |  |  |  | 336 |  |  |  | 7,130 |
|  | Income (loss) before income taxes |  |  | 2,027 |  |  |  | 1,564 |  |  |  | 514 |  |  |  | 1,640 |  |  |  | (317 | ) |  |  | 5,428 |
|  | Income taxes |  |  | 528 |  |  |  | 424 |  |  |  | 85 |  |  |  | 455 |  |  |  | (242 | ) |  |  | 1,250 |
|  | Net income (loss) |  | $ | 1,499 |  |  | $ | 1,140 |  |  | $ | 429 |  |  | $ | 1,185 |  |  | $ | (75 | ) |  | $ | 4,178 |
|  | Net income (loss) attributable to: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Non-controlling interests |  | $ | – |  |  | $ | – |  |  | $ | – |  |  | $ | – |  |  | $ | 17 |  |  | $ | 17 |
|  | Equity shareholders |  |  | 1,499 |  |  |  | 1,140 |  |  |  | 429 |  |  |  | 1,185 |  |  |  | (92 | ) |  |  | 4,161 |
|  | Average assets (3)(4) |  | $ | 337,774 |  |  | $ | 101,573 |  |  | $ | 65,805 |  |  | $ | 373,026 |  |  | $ | 219,251 |  |  | $ | 1,097,429 |
2024 |  | Net interest income (6) |  | $ | 4,170 |  |  | $ | 971 |  |  | $ | 923 |  |  | $ | 354 |  |  | $ | 112 |  |  | $ | 6,530 |
Apr. 30 (5) |  | Non-interest income (1) |  |  | 1,155 |  |  |  | 1,922 |  |  |  | 433 |  |  |  | 2,199 |  |  |  | 146 |  |  |  | 5,855 |
|  | Total revenue (6) |  |  | 5,325 |  |  |  | 2,893 |  |  |  | 1,356 |  |  |  | 2,553 |  |  |  | 258 |  |  |  | 12,385 |
|  | Provision for (reversal of) credit losses |  |  | 611 |  |  |  | 57 |  |  |  | 430 |  |  |  | 12 |  |  |  | (11 | ) |  |  | 1,099 |
|  | Amortization and impairment (2) |  |  | 116 |  |  |  | 1 |  |  |  | 48 |  |  |  | 4 |  |  |  | 395 |  |  |  | 564 |
|  | Other non-interest expenses |  |  | 2,655 |  |  |  | 1,449 |  |  |  | 835 |  |  |  | 1,172 |  |  |  | 291 |  |  |  | 6,402 |
|  | Income (loss) before income taxes |  |  | 1,943 |  |  |  | 1,386 |  |  |  | 43 |  |  |  | 1,365 |  |  |  | (417 | ) |  |  | 4,320 |
|  | Income taxes (6) |  |  | 523 |  |  |  | 375 |  |  |  | (41 | ) |  |  | 371 |  |  |  | (385 | ) |  |  | 843 |
|  | Net income (loss) |  | $ | 1,420 |  |  | $ | 1,011 |  |  | $ | 84 |  |  | $ | 994 |  |  | $ | (32 | ) |  | $ | 3,477 |
|  | Net income (loss) attributable to: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Non-controlling interests |  | $ | – |  |  | $ | – |  |  | $ | – |  |  | $ | – |  |  | $ | 22 |  |  | $ | 22 |
|  | Equity shareholders |  |  | 1,420 |  |  |  | 1,011 |  |  |  | 84 |  |  |  | 994 |  |  |  | (54 | ) |  |  | 3,455 |
|  | Average assets (3)(4) |  | $ | 332,350 |  |  | $ | 93,935 |  |  | $ | 59,778 |  |  | $ | 303,325 |  |  | $ | 196,741 |  |  | $ | 986,129 |
(1) | Includes intersegment revenue, which represents internal sales commissions and revenue allocations under the Product Owner/Customer Segment/Distributor Channel allocation management model.
(2) | Comprises amortization and impairment of buildings, right-of-use assets, furniture, equipment, leasehold improvements, and software and other intangible assets.
(3) | Assets are disclosed on an average basis as this measure is most relevant to a financial institution and is the measure reviewed by management.
(4) | Average balances are calculated as a weighted average of daily closing balances.
(5) | Certain prior period information has been restated for the external reporting changes noted above.
(6) | Capital Markets net interest income and income taxes include a taxable equivalent basis (TEB) adjustment of $71 million for the three months ended April 30, 2024 and $139 million for the six months ended April 30, 2024 with equivalent offsets in Corporate and Other. TEB adjustment offset is no longer applied since the third quarter of 2024 upon the enactment of Bill C-59 in June 2024, which eliminated the dividend received deduction for banks.

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