EU FINANCIALS: CIBC (CM) : Q4 '25/FY results
Dec-04 10:56
(CM; Aa2/A+/AA-)
Small credit positive. Good beat, but through trading which can be volatile qoq. Slightly climbing provisions.
- Revenue of C$7,576 is +14.5% YoY and 4.9% ahead of consensus.
- Revenue growth split equally between NII (with NIM 9bps higher) and non-interest income.
- Net income attributable to Canada Personal and small banks +9% yoy but 6% behind consensus, with commercial banking and capital markets beating expectations handily
- PCL of 34bps +1bp, with provision expense 55m higher than consensus at C$605m.
- CET1 13.3% (-0.1% qoq) .
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
BONDS: OAT/Bund spread trades on Block
Nov-04 10:56
OAT/Bund spread trades on Block, perfectly weighted:
- OATZ5 2.5k at 122.49 (suggest sold).
- RXZ5 2.4k at 129.27 (suggest bought).
SOFR: SFRH7/U7/H8 Fly Sold
Nov-04 10:53
SFRH7/U7/H8 fly ~6K given at -4.5.
SONIA OPTIONS: Put Condor seller
Nov-04 10:52
SFIG6 96.50/96.40/96.25/96.05p condor sold at 3.75 and 3.5 in 4.56k.
