CIBC Continues Its Excellent Results; Mortgages Look Strong; Increasing Our FVE
Canadian Imperial Bank of Commerce posted an excellent fiscal fourth quarter and largely beat our expectations all around. The bank recorded an adjusted return on equity of 17.2% for the quarter and a full-year result of 18.1%, putting the bank on par with RBC as CIBC has grown into and has now sustained top-tier performance. While these are exciting and commendable results, the true test for CIBC will come when the credit cycle begins to turn, as CIBC has been one of the most aggressive pursuer...Canadian Imperial Bank of Commerce is a financial institution. Through its three business units, Co. provides a range of financial products and services to individual, small business, commercial, corporate and institutional clients in Canada and around the world. Co.'s Retail and Business Banking business unit provides financial advice, products and services. Co.'s Wealth Management business unit provides integrated advice and investment solutions. Co.'s Capital Markets business unit provides integrated credit and global markets products, investment banking advisory services and research. As of Oct 31 2017, Co. had total assets of C$565.26 billion and total deposits of C$439.71 billion.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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