Overview
- CIBC reported Q2 earnings of $2.04 per share, outperforming the $1.90 analysts’ forecast after setting aside $605 million for credit losses.
- RBC delivered adjusted earnings of $3.12 per share, missing the $3.20 estimate following a $1.42 billion build in loan-loss provisions.
- RBC raised its quarterly dividend by six cents to $1.54 per share and approved a buyback of up to 35 million shares.
- CIBC’s capital markets profit climbed 20 percent to $566 million on elevated trading revenue and increased debt underwriting.
- Both banks emphasize robust capital positions and disciplined credit management in a challenging economic and trade environment.