v3.22.4
Consolidated statement of income - CAD ($)
$ in Millions
 3 Months Ended
Jan. 31, 2023
Oct. 31, 2022
Jan. 31, 2022
Interest income (Note 14)      
Loans [1] $ 6,927 $ 5,806 $ 3,206
Securities [1] 1,571 1,243 629
Securities borrowed or purchased under resale agreements [1] 995 669 78
Deposits with banks and other [1] 767 474 28
Interest income [1] 10,260 8,192 3,941
Interest expense (Note 14)      
Deposits 5,887 4,177 638
Securities sold short 92 121 68
Securities lent or sold under repurchase agreements 890 564 54
Subordinated indebtedness 103 84 29
Other 83 61 20
Interest expense 7,055 5,007 809
Net interest income 3,205 3,185 3,132
Non-interest income      
Underwriting and advisory fees 103 143 148
Deposit and payment fees 220 221 214
Credit fees 337 331 322
Card fees 106 102 135
Investment management and custodial fees 428 428 445
Mutual fund fees 472 418 479
Insurance fees, net of claims 90 80 94
Commissions on securities transactions 88 79 106
Gains (losses) from financial instruments measured/designated at fair value through profit or loss (FVTPL), net 678 309 259
Gains (losses) from debt securities measured at fair value through other comprehensive income (FVOCI) and amortized cost, net 10 (6) 19
Foreign exchange other than trading (FXOTT) 127 25 73
Income (loss) from equity-accounted associates and joint ventures (4) 9 13
Other 67 64 59
Non-interest income 2,722 2,203 2,366
Total revenue 5,927 5,388 5,498
Provision for credit losses (Note 6) 295 436 75
Non-interest expenses      
Employee compensation and benefits 1,909 1,897 1,747
Occupancy costs 208 253 204
Computer, software and office equipment 588 598 530
Communications 89 89 80
Advertising and business development 73 101 63
Professional fees 58 82 71
Business and capital taxes 39 33 32
Other (Note 13) 1,498 430 296
Non-interest expenses 4,462 3,483 3,023
Income before income taxes 1,170 1,469 2,400
Income taxes 738 284 531
Net income 432 1,185 1,869
Net income attributable to non-controlling interests 9 7 5
Preferred shareholders and other equity instrument holders 72 37 41
Common shareholders 351 1,141 1,823
Net income attributable to equity shareholders $ 423 $ 1,178 $ 1,864
Earnings per share (in dollars) (Note 12)      
Basic [2] $ 0.39 $ 1.26 $ 2.02
Diluted [2] 0.39 1.26 2.01
Dividends per common share (in dollars) [2] $ 0.85 $ 0.83 $ 0.805
[1] Interest income included $9.6 billion for the quarter ended January 31, 2023 (October 31, 2022: $7.6 billion; January 31, 2022: $3.5 billion), calculated based on the effective interest rate method.
[2] On April 7, 2022, CIBC shareholders approved a two-for-one share split (Share Split) of CIBC’s issued and outstanding common shares. Each shareholder of record at the close of business on May 6, 2022 (Record Date) received one additional share on May 13, 2022 (Payment Date) for every one share held on the Record Date. All common share numbers and per common share amounts have been adjusted to reflect the Share Split as if it was retroactively applied to the beginning of 2022.