U.S. expansion and Canadian housing will be key drivers for CIBC.
Canadian Imperial Bank of Commerce posted a decent fiscal 2017 second quarter, with adjusted return on equity of 18.1%, down from the previous quarter but still largely in line with our expectations. Increased regulatory capital, with a common equity Tier 1 ratio of 12.2% for the quarter, didn’t help, but these levels are building in anticipation of the PrivateBank acquisition, which is expected to close next quarter. With returns still largely meeting our expectations, and the credit environmen...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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