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Segmented information

6 Months Ended

Apr. 30, 2025

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.