CIBC Reports Record FY2024 Net Income of C$7.2 Billion as Revenue Climbs 10%

CIBC reported record full-year 2024 net income of C$7.2 billion on 5 December 2024, with total revenue of C$25.6 billion representing a 10% increase compared with the prior fiscal year. Chief executive officer Victor Dodig described the outcome as 'record financial performance'. CIBC added more than 613,000 net new clients during fiscal 2024.

Adjusted net income for the year came in at C$7.3 billion, while adjusted pre-provision pre-tax earnings reached C$11.3 billion, an 11% increase year-on-year. CIBC's Common Equity Tier 1 ratio stood at 13.3% at the fiscal year-end.