CIBC Q4 Profit Drops 1.9%

Canadian Imperial Bank of Commerce CM reported a 1.9% drop in its fourth-quarter profit. CIBC's quarterly earnings fell to C$836 million ($782.00 million), or C$2.05 per share, from a year-ago profit of C$852 million, or C$2.02 per share. CIBC shares closed at $84.26 yesterday.