Canadian Imperial Bank of Commerce (CM) states that its Board approved a Code of Conduct effective November 2026. The Code applies to team members of CIBC and its wholly owned subsidiaries, except team members of CIBC Cayman Bank Limited and CIBC Cayman Reinsurance Limited, which have separate codes. Employees and contingent workers must complete training and testing each year and attest to compliance; CIBC Board members also certify compliance.
The Code covers ethical decision-making, conflicts of interest, privacy, financial-crime controls, and handling of inside information. It provides a confidential Whistleblower Program online and by phone for anonymous concerns and prohibits retaliation. For CIBC business, team members must use CIBC-approved technologies and methods; use of external AI technologies on personal devices for CIBC business purposes is prohibited.
Canadian Imperial Bank of Commerce (CIBC) appointed Bill Morneau as Chair of the Board, effective January 1, 2027. He will succeed Katharine B. Stevenson, who will retire from the Board on December 31, 2026, after six years as Chair and 10 years as an independent director.
Morneau has served as a CIBC independent director since 2022 and currently chairs the Board’s Corporate Governance Committee. He previously served as Canada’s Minister of Finance and as a Member of Parliament from 2015 to 2020.
Canadian Imperial Bank of Commerce (CM) entered an underwriting agreement to issue and sell US$300,000,000 of Floating Rate Senior Notes due 2030 and US$1,000,000,000 of 5.627% Fixed-to-Floating Rate Senior Notes due 2030. The notes are offered at 100.000% of principal, plus accrued interest, if any, from September 29, 2026; settlement is scheduled for September 29, 2026.
The floating-rate notes pay Compounded SOFR plus 82 basis points. The fixed-to-floating notes pay 5.627% per annum until the September 27, 2029 interest reset date, then pay Compounded SOFR plus 81 basis points. Both series mature on September 27, 2030. Net proceeds will be added to the Bank’s funds and used for general corporate purposes.
The notes are bail-inable and may be converted in whole or in part into common shares of the Bank or an affiliate under subsection 39.2(2.3) of the Canada Deposit Insurance Corporation Act, and are subject to variation or extinguishment. The Bank’s optional redemption terms differ by series.
CANADIAN IMPERIAL BANK OF COMMERCE (CM) reported its earnings coverage on subordinated indebtedness for the 12-month period ended July 31, 2026. Interest requirements on subordinated indebtedness were $349 million, while earnings before income taxes and these interest requirements, net of non-controlling interests, were $12,925 million. This resulted in earnings equal to 37.0 times the related interest requirements, indicating substantial capacity to meet interest obligations on subordinated debt. The figures are based on consolidated financial statements prepared under IFRS, and the coverage ratio itself is a non-IFRS measure that may not be comparable with similar ratios reported by other issuers.
CANADIAN IMPERIAL BANK OF COMMERCE (CM) announced that its Board of Directors declared a quarterly dividend of $1.07 per common share for the quarter ending October 31, 2026, payable on October 28, 2026 to shareholders of record on September 28, 2026.
The Board also declared quarterly dividends on Class A preferred shares for the same period: Series 47 at $0.367375 per share (record date September 28, 2026; payable October 28, 2026); Series 56 at $36.825000 per share and Series 61 at $31.845000 per share (record date October 20, 2026; payable October 28, 2026); and Series 57 at $36.685000 per share (record date October 2, 2026; payable October 13, 2026).
CANADIAN IMPERIAL BANK OF COMMERCE (CM) reported strong results for the quarter ended July 31, 2026, with revenue of $8,368 million, up 15% year over year, driven by higher net interest margin in non-trading businesses, volume growth across segments and stronger trading and fee-based income. Reported net income was $2,409 million, up 15% from a year ago but down slightly from the prior quarter due to higher expenses. Adjusted net income rose to $2,648 million, up 26% year over year, and adjusted diluted EPS increased to $2.73.
All core businesses contributed: Canadian Personal and Business Banking net income grew 17% to $948 million, Canadian Commercial Banking and Wealth Management rose 4% to $619 million, U.S. Commercial Banking and Wealth Management increased 23% in U.S. dollar terms, and Capital Markets net income climbed 34% to $722 million. Credit quality remained stable with provision for credit losses at $564 million, similar to last year, while the bank maintained a strong capital position with a CET1 ratio of 13.4%, leverage ratio of 4.3% and liquidity coverage ratio of 127%. Non-interest expenses rose 18% year over year, reflecting higher compensation, technology spending and a $269 million pre-tax charge related to the announced sale of CIBC Caribbean, which reduced EPS by $0.26 as an item of note.
CANADIAN IMPERIAL BANK OF COMMERCE (CM) reported strong results for the quarter ended July 31, 2026, with revenue of $8,368 million, up 15% year over year and 5% sequentially. Reported net income was $2,409 million, also up 15% year over year, while adjusted net income rose 26% to $2,648 million.
Reported diluted EPS was $2.47 and adjusted diluted EPS was $2.73, both 15%–26% higher than a year ago, though reported EPS was 2% below the prior quarter. Adjusted pre-provision, pre-tax earnings were $3,962 million, up 20% year over year. Items of note reduced EPS by $0.26 in the quarter.
All core segments grew net income year over year: Canadian Personal and Business Banking up 17% to $948 million, Canadian Commercial Banking and Wealth Management up 4% to $619 million, U.S. Commercial Banking and Wealth Management up 23% to $320 million, and Capital Markets up 34% to $722 million. Provision for credit losses was $564 million, only slightly above last year, including a reversal on performing loans and a release tied to U.S. commercial real estate loan sales. The CET1 ratio was 13.4%, down modestly from 13.6% last quarter, with a leverage ratio of 4.3% and liquidity coverage ratio of 127%.
CANADIAN IMPERIAL BANK OF COMMERCE (CM) reported a governance update, appointing Prasanna Gopalakrishnan to its Board of Directors, effective September 1, 2026. She brings more than 30 years of experience in technology, data, cyber and artificial intelligence across banking, wealth management and global consumer businesses.
CIBC describes itself as a leading North American financial institution serving 15 million personal, business, public sector and institutional clients across multiple segments, including Personal and Business Banking, Commercial Banking, Wealth Management and Capital Markets.
Vanguard Capital Management reports beneficial ownership of 45,902,841 shares of Canadian Imperial Bank of Commerce common stock, representing 5.01% of the class. Vanguard has sole voting power over 17,759,602 shares and sole dispositive power over all 45,902,841 shares, with no shared voting or dispositive power.
The reported holdings include securities managed by Vanguard Capital Management LLC and certain affiliates, including various Vanguard asset management entities and funds, where these entities exercise voting and/or dispositive power. No other single person has an interest in more than 5% of the class through these holdings.