Canadian Imperial Bank of Commerce (TSX: CM)

CM Income Statement

Financials in millions CAD. Fiscal year is November - October.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Jul 31, 2024	Oct 31, 2023	Oct 31, 2022	Oct 31, 2021	Oct 31, 2020	Oct 31, 2019
Interest Income on Loans	33,472	30,235	16,874	12,150	13,863	16,048
Interest Income on Investments	17,939	14,784	5,305	2,591	3,659	4,649
Total Interest Income	51,411	45,019	22,179	14,741	17,522	20,697
Interest Paid on Deposits	30,569	26,633	7,887	2,651	5,326	8,422
Interest Paid on Borrowings	7,583	5,561	1,651	631	1,152	1,724
Total Interest Expense	38,152	32,194	9,538	3,282	6,478	10,146
Net Interest Income	13,259	12,825	12,641	11,459	11,044	10,551
Net Interest Income Growth (YoY)	3.48%	1.46%	10.32%	3.76%	4.67%	4.83%
Trust Income	1,908	1,768	1,760	1,621	1,382	1,305
Gain (Loss) on Sale of Assets	-	-	-	-	-4	7
Gain (Loss) on Sale of Investments	64	83	35	90	9	34
Gain (Loss) on Sale of Equity Investments	56	30	47	55	79	92
Other Non-Interest Income	8,603	7,693	6,470	5,993	5,450	5,714
Total Non-Interest Income	11,568	10,498	9,192	8,556	7,697	8,060
Non-Interest Income Growth (YoY)	14.99%	14.21%	7.43%	11.16%	-4.50%	3.75%
Revenues Before Loan Losses	24,827	23,323	21,833	20,015	18,741	18,611
Provision for Loan Losses	2,123	2,010	1,057	158	2,489	1,286
Revenue	22,704	21,313	20,776	19,857	16,252	17,325
Revenue Growth (YoY)	8.77%	2.58%	4.63%	22.18%	-6.19%	2.13%
Salaries and Employee Benefits	7,597	7,204	6,736	5,375	5,483	5,221
Selling, General & Administrative	4,793	4,551	4,532	4,744	3,988	4,159
Other Non-Interest Expense	1,693	1,534	1,355	1,130	1,101	1,338
Total Non-Interest Expense	14,082	13,288	12,619	11,263	10,572	10,721
EBT Excluding Unusual Items	8,622	8,025	8,157	8,594	5,680	6,604
Legal Settlements	-8	-1,063	-146	-163	-89	-
Other Unusual Items	2	2	-1	-	-	-
Pretax Income	8,616	6,964	7,973	8,322	4,890	6,469
Income Tax Expense	1,865	1,931	1,730	1,876	1,098	1,348
Earnings From Continuing Operations	6,751	5,033	6,243	6,446	3,792	5,121
Minority Interest in Earnings	-39	-38	-23	-17	-2	-25
Net Income	6,712	4,995	6,220	6,429	3,790	5,096
Preferred Dividends & Other Adjustments	253	267	171	158	122	111
Net Income to Common	6,459	4,728	6,049	6,271	3,668	4,985
Net Income Growth	42.75%	-19.69%	-3.25%	69.63%	-25.63%	-3.25%
Basic Shares Outstanding	934	916	903	898	891	889
Diluted Shares Outstanding	936	916	906	900	892	891
Shares Change (YoY)	2.64%	1.16%	0.59%	0.93%	0.13%	0.19%
EPS (Basic)	6.91	5.16	6.70	6.98	4.12	5.61
EPS (Diluted)	6.91	5.16	6.68	6.96	4.11	5.59
EPS Growth	41.31%	-22.75%	-4.02%	69.34%	-26.54%	-3.95%
Dividend Per Share	3.570	3.440	3.270	2.920	2.910	2.800
Dividend Growth	5.00%	5.20%	11.99%	0.34%	3.93%	5.26%
Effective Tax Rate	21.65%	27.73%	21.70%	22.54%	22.45%	20.84%

Source: S&P Capital IQ. Banks template. Financial Sources.