CIBC profit tops $1B last quarter

CIBC had $1.05 billion of net income in its second quarter, up 11 per cent from a year ago when it reported $941 million of net income.

The earnings amounted to $2.59 per share, compared with $2.35 during the second quarter of 2016.

The Toronto-based bank had $3.70 billion of revenue during the quarter, compared with $3.63 billion a year ago.

More to come