The Canadian Imperial Bank of Commerce exceeded expectations in its capital markets business driven by volatile trading.

The Canadian Imperial Bank of Commerce exceeded expectations with its growth in overall business revenue. The bank reported an adjusted earnings per share of 2.05 Canadian dollars in the second quarter, higher than the analysts' average expectation of 1.88 Canadian dollars, with the net revenue from the capital markets department reaching 566 million Canadian dollars. The bank set aside 142 million Canadian dollars for normal loans and 463 million Canadian dollars for non-performing loans, with a total provision of 605 million Canadian dollars, lower than the analysts' expected 632 million Canadian dollars.