Canadian Imperial Bank of Commerce CM reported an 8% increase in its second quarter profit.
CIBC lifted its quarterly dividend by 2 Canadian cents a share to 96 Canadian cents a share.
CIBC's quarterly earnings surged to C$876 million ($842.63 million), or C$2.12 per share, from C$811 million, or C$1.90 per share, in the year-ago period. However, analysts were estimating a profit of C$2.08 per share.
Its wholesale banking income surged 51% to C$198 million, while retail banking income increased 9% to C$604 million.
CIBC shares closed at $77.64 yesterday.
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