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Consolidated statement of income - CAD ($)
$ in Millions
12 Months Ended
Oct. 31, 2022
Oct. 31, 2021
Interest income (Note 29)    
Loans [1] $ 16,874 $ 12,150
Securities [1] 3,422 2,141
Securities borrowed or purchased under resale agreements [1] 1,175 319
Deposits with banks [1] 708 131
Interest income [1] 22,179 14,741
Interest expense (Note 29)    
Deposits 7,887 2,651
Securities sold short 380 236
Securities lent or sold under repurchase agreements 943 208
Subordinated indebtedness 203 122
Other 125 65
Interest expense 9,538 3,282
Net interest income 12,641 11,459
Non-interest income    
Underwriting and advisory fees 557 713
Deposit and payment fees 880 797
Credit fees 1,286 1,152
Card fees 437 460
Investment management and custodial fees 1,760 1,621
Mutual fund fees 1,776 1,772
Insurance fees, net of claims 351 358
Commissions on securities transactions 378 426
Gains (losses) from financial instruments measured/designated at fair value through profit or loss (FVTPL), net 1,172 607
Gains (losses) from debt securities measured at fair value through other comprehensive income (FVOCI) and amortized cost, net 35 90
Foreign exchange other than trading (FXOTT) 242 276
Income from equity-accounted associates and joint ventures (Note 25) 47 55
Other 271 229
Non-interest income 9,192 8,556
Total revenue 21,833 20,015
Provision for credit losses (Note 5) 1,057 158
Non-interest expenses    
Employee compensation and benefits 7,157 6,450
Occupancy costs 853 916
Computer, software and office equipment 2,297 2,030
Communications 352 318
Advertising and business development 334 237
Professional fees 313 277
Business and capital taxes 123 111
Other (Notes 3 and 8) 1,374 1,196
Non-interest expenses 12,803 11,535
Income before income taxes 7,973 8,322
Income taxes (Note 19) 1,730 1,876
Net income 6,243 6,446
Net income attributable to non-controlling interests 23 17
Preferred shareholders and other equity instrument holders 171 158
Common shareholders 6,049 6,271
Net income attributable to equity shareholders $ 6,220 $ 6,429
Earnings per share (EPS) (in dollars) (Note 20)    
Basic [2] $ 6.7 $ 6.98
Diluted [2] 6.68 6.96
Dividends per common share (in dollars) (Note 15) [2] $ 3.27 $ 2.92
[1] Interest income included $20 billion for the year ended October 31, 2022 (2021: $13.2 billion) calculated based on the effective interest rate method.
[2] On April 7, 2022, CIBC shareholders approved a two-for-one share split (Share Split) of CIBC’s issued and outstanding common shares. Each shareholder of record at the close of business on May 6, 2022 (Record Date) received one additional share on May 13, 2022 (Payment Date) for every one share held on the Record Date. All common share numbers and per common share amounts have been adjusted to reflect the Share Split as if it was retroactively applied to all periods presented.