CIBC reports 33.6x coverage on subordinated debt

Canadian Imperial Bank of Commerce reports strong earnings coverage on its subordinated indebtedness for the 12 months ended April 30, 2026.

Rhea-AI Filing Summary

Canadian Imperial Bank of Commerce reports strong earnings coverage on its subordinated indebtedness for the 12 months ended April 30, 2026. Interest requirements on subordinated debt were $374 million, while earnings before income taxes and subordinated interest were $12,561 million.

These earnings were 33.6 times the related interest requirements, indicating a substantial cushion to meet obligations on subordinated indebtedness. The ratio is derived from consolidated financial statements prepared under IFRS and is a non-IFRS measure that may not be comparable with similar ratios reported by other issuers.

Key Figures

Subordinated interest requirements: $374 million Earnings before tax and subordinated interest: $12,561 million Earnings coverage ratio: 33.6 times

3 metrics

Subordinated interest requirements $374 million 12-month period ended April 30, 2026

Earnings before tax and subordinated interest $12,561 million 12-month period ended April 30, 2026

Earnings coverage ratio 33.6 times Earnings vs. subordinated interest requirements

Key Terms

subordinated indebtedness, earnings coverage, non-controlling interests, International Financial Reporting Standards, +1 more

5 terms

subordinated indebtedness financial

"Earnings Coverage on Subordinated Indebtedness as at April 30, 2026"

Debt that carries lower priority for repayment than other borrowings, meaning holders are paid only after higher‑priority creditors are made whole if the borrower runs into financial trouble; think of it as standing at the back of a queue at a checkout. It matters to investors because it usually carries higher interest to compensate for greater risk, affects how much creditors recover in default, and influences a borrower’s overall credit profile and cost of borrowing.

earnings coverage financial

"Earnings Coverage on Subordinated Indebtedness as at April 30, 2026"

non-controlling interests financial

"net of non-controlling interests, for the 12-month period ended April 30, 2026"

An ownership stake in a subsidiary held by outside shareholders rather than the parent company, representing the portion of that subsidiary’s assets and profits the parent does not control. For investors, it shows what part of consolidated earnings and equity belongs to others — like a roommate who owns part of a house — which affects how much value and profit per share are truly attributable to the parent company’s shareholders.

International Financial Reporting Standards financial

"prepared in accordance with International Financial Reporting Standards (“IFRS”)"

International Financial Reporting Standards are a common set of accounting rules used by companies in many countries to prepare and present their financial statements. They matter to investors because they make results easier to compare across borders — like using the same measuring tape — so investors can assess profitability, cash flow and risk more reliably and spot differences that come from business performance rather than differing accounting methods.

non-IFRS measure financial

"The ratio reported is not defined by IFRS and does not have any standardized meaning"

A non-IFRS measure is a financial number a company reports that is calculated outside standard accounting rules; it adjusts or removes items such as one-time costs, taxes, or accounting entries to highlight what management sees as the business’s recurring performance. Investors use these figures like a tailored snapshot to understand underlying trends — similar to a chef sharing a simplified recipe — but because they are not standardized, they require careful comparison and scrutiny.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What earnings coverage ratio did CIBC (CM) report on its subordinated indebtedness?

CIBC reported an earnings coverage ratio of 33.6 times on its subordinated indebtedness. This means earnings before income taxes and subordinated interest were 33.6 times the related interest requirements for the 12 months ended April 30, 2026.

How much were CIBC (CM) subordinated debt interest requirements for the period?

CIBC’s interest requirements on subordinated indebtedness were $374 million for the 12-month period ended April 30, 2026. This figure represents the total interest payable on subordinated debt over that period, used in calculating the earnings coverage ratio.

What level of earnings did CIBC (CM) generate for its subordinated debt coverage?

CIBC generated $12,561 million in earnings before income taxes and subordinated interest, net of non-controlling interests. These earnings for the 12 months ended April 30, 2026 were used to determine the 33.6 times earnings coverage ratio.

Over what period is CIBC (CM) earnings coverage on subordinated indebtedness calculated?

CIBC’s earnings coverage on subordinated indebtedness is calculated over the 12-month period ended April 30, 2026. Both the interest requirements and the earnings figure used in the ratio relate to this same 12‑month timeframe.

Is CIBC (CM) earnings coverage ratio on subordinated debt an IFRS measure?

The earnings coverage ratio is not defined by IFRS and has no standardized meaning under IFRS. CIBC calculates it using amounts from IFRS-based consolidated financial statements, so it may not be directly comparable to similar measures from other issuers.

How does CIBC (CM) treat non-controlling interests in its earnings coverage calculation?

In calculating the earnings coverage ratio, CIBC uses earnings before income taxes and subordinated interest net of non-controlling interests. Non-controlling interests are adjusted to before-tax equivalents using applicable effective income tax rates for the 12-month period ended April 30, 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/28/2026 - 07:08 AM EDT Learn about SEC filing dates

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

under the Securities Exchange Act of 1934

For the month of May, 2026 Commission File Number: 1-14678

CANADIAN IMPERIAL BANK OF COMMERCE

(Translation of registrant’s name into English)

CIBC Square, 81 Bay Street

Toronto, Ontario

Canada M5J 0E7

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F ☐   Form 40-F ☑

The information contained in this Form 6-K is incorporated by reference into the Registration Statements on Form S-8 File Nos. 333-130283, 333-09874 and 333-218913 and Form F-3 File Nos. 333-219550, 333-220284, 333-272447, and 333-282307.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

				CANADIAN IMPERIAL BANK OF COMMERCE
Date: May 28, 2026				By:		/s/ Allison Mudge
				Name:		Allison Mudge
				Title:		Senior Vice-President

Exhibit 99.1

CANADIAN IMPERIAL BANK OF COMMERCE

Earnings Coverage on Subordinated Indebtedness as at April 30, 2026

Interest requirements based on subordinated indebtedness were $374 million for the 12-month period ended April 30, 2026. Earnings before income taxes and interest requirements on subordinated indebtedness, net of non-controlling interests, for the 12-month period ended April 30, 2026, were $12,561 million, which was 33.6 times our interest requirements as described above.

This ratio is calculated on the basis of amounts derived from our consolidated financial statements prepared in accordance with International Financial Reporting Standards (“IFRS”) for the 12-month period ended April 30, 2026. The ratio reported is not defined by IFRS and does not have any standardized meaning under IFRS and thus may not be comparable to similar measures used by other issuers.

In calculating the ratio, non-controlling interests were adjusted to before-tax equivalents using the applicable effective income tax rates.

Filing Exhibits & Attachments

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• EX-99.1 EX-99.1 2.2 KB