Canadian Imperial Bank Of Commerce · TSX:CM
Canadian Imperial Bank Of Commerce — Investor Presentation (August 2026)
57 slides from Canadian Imperial Bank Of Commerce's investor presentation, August 2026
Slide 1: Investor Presentation
Investor Presentation August 2026 All amounts are in Canadian dollars unless otherwise indicated.
Slide 2: Forward-Looking Statements
Forward-Looking Statements A NOTE ABOUT FORWARD-LOOKING STATEMENTS: From time to time, we make written or oral forward-looking statements within the meaning of certain securities laws, including in this report, in other filings with Canadian securities regulators or the SEC and in other communicatio
Slide 3: Table of Contents
Table of Contents Enterprise Overview 3 Capital Markets We are committed to creating enduring value for all our stakeholders U.S. Region Why invest in CIBC? Risk Overview 26 A leading, well-diversified North American Financial Institution Loan Portfolio is Highly Diversified An enterprise strategy d
Slide 4: We are committed to creating enduring value for all our stakeholders
We are committed to creating enduring value for all our stakeholders “Over our bank’s 158-year history, we’ve helped our clients to realize their ambitions and helped businesses to grow, while also investing in the long-term strength and sustainability of the economies where we operate and the commu
Slide 5: Why invest in CIBC?
Why invest in CIBC? Experienced, Proven, relationship- Clear competitive Track record of strong, Capital strength and collaborative focused strategy advantages consistent execution risk discipline leadership team • Seasoned leadership team, • Growing our mass affluent • Differentiated client • Conti
Slide 6: A leading, well-diversified North American Financial Institution
A leading, well-diversified North American Financial Institution Annualized Solid Total ROE and Shareholder Capital Strength Return6 1867 vs. Big 6 Canadian Banks FOUNDED #1 #1 #1 #2 16.5% 16.2% (2.5)% 4.2% 13.4% 73% 69% 15MM Reported Adjusted2 Reported Adjusted2 48% 34% 24% 21% CLIENTS 18% 17% 52K
Slide 7: An enterprise strategy designed to deliver outperformance
An enterprise strategy designed to deliver outperformance 6
Slide 8: Our Differentiated Enterprise Strategy
Our Differentiated Enterprise Strategy Our Ambition: A client-focused, connected, and performance-driven bank, delivering industry-leading shareholder returns Our Strategic Priorities Growing Our Mass Affluent Expanding Our Digital-First Delivering Connectivity and Enabling, Simplifying & & Private
Slide 9: Technology Strategy @ CIBC
Technology Strategy @ CIBC Enabling sustainable growth, operational resilience, and long-term competitiveness Centralized Enterprise Champion Drive Strategic Run & Operate with IT Transformation Business & Client Excellence Innovation, @Scale Data & AI Value Leverage CIO alignment Cultural transform
Slide 10: AI @ CIBC
AI @ CIBC Generating outcomes through improved client experience, team productivity, defensive capabilities, and an empowered workforce Revenue Generation Operational Risk Cultural & Client Experience Efficiency Mitigation Transformation • Timely and actionable • Client meeting preparation • Enhance
Slide 11: Financial Performance
CIBC® Financial Performance 10
Slide 12: Medium-Term Objectives
Medium-Term Objectives Making progress against our through-the-cycle financial objectives Fiscal 2025 Medium-Term Objectives1,2 3-Year 5-Year Reported: 9% Reported: 16% Diluted EPS Growth of 7% - 10% (CAGR3) Adjusted1: 7% Adjusted1: 12% Return on Equity of 15%+4 Reported: 12.7% Reported: 13.6% (Aver
Slide 13: Capital Deployment Strategy
Capital Deployment Strategy Our capital deployment priorities are aligned with our enterprise strategy CAPITAL DEPLOYMENT Organic Growth F20 – F26YTD1,5 • Remains our top priority • Strong marginal ROEs $14B 2 • Minimizes unproductive goodwill (30%) Dividend Payout • 40-50% target payout ratio4 • Ma
Slide 14: Track record of strong financial performance
Track record of strong financial performance Delivering value for shareholders by driving sustainable growth and profitability1 Revenue3 ($B) Efficiency Ratio3 (%) -1.5% 32.4 +12% CAGR 55.8 55.8 54.3 29.1 52.8 25.6 23.4 Reported 23.3 25.6 29.1 32.3 Reported 61.5 56.4 54.4 53.8 2023 2024 2025 LTM 202
Slide 15: Track record of strong financial performance
Track record of strong financial performance Underpinned by our balance sheet strength and prudent risk management CET1 Ratio1 Total Allowance Coverage Ratio2 +0.9% 13.3% 13.3% 13.4% +0.04% 0.80% 0.81% 0.76% 0.73% 12.4% 2023 2024 2025 Q3/26 2023 2024 2025 Q3/26 Liquidity Coverage Ratio1 Impaired PCL
Slide 16: Our business segments
Our business segments A diversified franchise driving consistent and profitable growth 15
Slide 17: Canadian Personal & Business Banking F25 Results
Canadian Personal & Business Banking F25 Results1 Helping our clients achieve their ambitions, and delivering sustainable, market-leading performance Banking Centres 14.0MM $12.0B OUR FOCUS FOR 2026 987 3% 7% 13% Delivering seamless everyday banking solutions Employees2 38% 1 and best-in-class perso
Slide 18: Canadian Personal & Business Banking Q3/26 Results
Canadian Personal & Business Banking Q3/26 Results Strong earnings growth supported by resilient top-line performance Q3/26 YoY Highlights: Reported Adjusted1 • Broad-based revenue growth across the portfolio of 9% demonstrates continued ($MM) Q3/26 YoY QoQ Q3/26 YoY QoQ franchise momentum Revenue 3
Slide 19: Digital Trends
Digital Trends Growing digital adoption and engagement in Canadian Personal Banking1 DIGITAL ADOPTION RATE2 ACTIVE DIGITAL BANKING USERS3 DIGITAL CHANNEL USAGE (MM) (# of Sessions, MM) 87.9% 88.4% 88.8% 88.5% 90.0% 8.2 8.5 8.0 8.1 8.1 430 425 424 419 422 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Q3/25 Q4/25 Q1/
Slide 20: Canadian Commercial Banking & Wealth Management F25 Results
Canadian Commercial Banking & Wealth Management F25 Results1 Becoming Canada’s leader in financial services and advice to commercial and high-net-worth clients Employees2 $6.9B $597B $206B OUR FOCUS FOR 2026 6,190 14% PPPT3 Total Wealth Management 47% 50% 1 Deepening client relationships and increas
Slide 21: Canadian Commercial Banking & Wealth Management Q3/26 Results
Canadian Commercial Banking & Wealth Management Q3/26 Results PPPT strength reflects robust volume growth and market appreciation Reported & Adjusted1 ($MM) Q3/26 YoY QoQ Q3/26 YoY Highlights: • Broad-based client activity drove margin expansion, higher fee-based revenue, and Revenue 2,037 18% 6% in
Slide 22: U.S. Commercial Banking & Wealth Management F25 Results
U.S. Commercial Banking & Wealth Management F25 Results1 (US$) Providing relationship-oriented banking for businesses and high-net-worth clients in key U.S. markets Funds Managed6 Clients2 $2.3B $101B $70B OUR FOCUS FOR 2026 121,000+ 31% Offices 47% 1 Expanding Private Wealth Management with a focus
Slide 23: U.S. Commercial Banking & Wealth Management Q3/26 Results
U.S. Commercial Banking & Wealth Management Q3/26 Results Solid performance benefited from strong volumes and lower PCLs Q3/26 YoY Highlights: Reported Adjusted1 • Sustained organic momentum driving revenue growth (US$MM) Q3/26 YoY QoQ Q3/26 YoY QoQ • Revenue up 7% YoY, driven by strong balance shee
Slide 24: Capital Markets F25 Results
Capital Markets F25 Results1 Delivering innovative solutions by providing best-in-class insight and advice, leveraging our differentiated platform capabilities Revenue Breakdown Employees2 OUR FOCUS FOR 2026 $6.1B $6.1B $6.1B 2,011 16% 11% PPPT3 35% 35% 1 Maintaining our focused approach to client c
Slide 25: Capital Markets Q3/26 Results
Capital Markets Q3/26 Results Revenue growth fueled by client activity in Global Markets Q3/26 YoY Highlights: Reported & Adjusted1 ($MM) Q3/26 YoY QoQ • Client momentum across the franchise, supported by constructive markets, Revenue 1,834 22% (2)% contributed to 22% revenue growth Non-Trading Net
Slide 26: U.S. Region
U.S. Region Diversified footprint across the U.S. with strong presence in the Midwest Our U.S. Footprint Our U.S. Businesses Seattle • Commercial Banking: high-touch coverage model offering real estate Minneapolis Grand financing, mid-market commercial banking solutions, and specialized industry Rap
Slide 27: Risk Overview
Risk Overview CIBC® 26
Slide 28: Loan Portfolio is Highly Diversified
Loan Portfolio is Highly Diversified Lending portfolio has a strong risk profile and is well diversified Q3/26 Overall Loan Mix (Net • Exposure most sensitive to tariffs represents less than 1% of our total bank loans. Outstanding Loans and Acceptances) 47% Consumer 59% Spotlight: Private Credit Exp
Slide 29: Canadian Real Estate Secured Personal Lending
Canadian Real Estate Secured Personal Lending Mortgage delinquencies performing in line with expectations • Portfolio average Loan-To-Value (LTV) ratio continues to remain healthy • Condominium mortgages account for 17% of our total residential mortgage portfolio, with a 16% insured mix. This segmen
Slide 30: Canadian Mortgages Renewal Profile – FY26 and FY27 Outlook
Canadian Mortgages Renewal Profile – FY26 and FY27 Outlook Impacts of payment increases at renewal expected to be minimal Current Balances by Renewal Quarter1 ($B) 22 Variable Rate 20 36% 17 Fixed Rate • Using illustrative 4.0% and 4.5% 16 13 47% 30% mortgage rates at time of renewal, 53% and no bor
Slide 31: Commercial Real Estate Q3/26
Commercial Real Estate Q3/26 Commercial real estate loans outstanding are well diversified Multi-Family Portfolio Metrics Canada US • Canada represents 64% of total Canadian & U.S. real estate loans outstanding Total outstanding ($B) C$13.6 US$5.4 • Gross impaired loans as a percentage of total Cana
Slide 32: Interest Rate Sensitivity
Interest Rate Sensitivity Effective interest rate risk management NET INTEREST INCOME SENSITIVITY TO A +/- 100 BPS CHANGE1 INTEREST RATE ENVIRONMENT2 ($MM) 5YR CAD Swap – Average (%) 5.0 Long-Term vs. Short-Term Rates 4.0 Impact by Currency 3.0 2.0 1.0 177 177 0.0 Q3/26 Q3/27 Q3/28 Q3/29 Q3/30 Q3/31
Slide 33: Economic Outlook & Overview
Economic Outlook & Overview 32
Slide 34: Snapshot of the Canadian economy
Snapshot of the Canadian economy Key Metrics and CIBC Economics Forecasts1 Canada: Key Facts Canada United States (U.S.) Economic Indicators (%)2,3 Population7 41.4 MM 2025A2 2026F2 2027F2 2025A2 2026F2 2027F2 GDP (Market Prices)8 CAD 3,322 BN Real GDP Growth 1.9 0.7 2.0 2.1 2.0 1.9 GDP per capita9
Slide 35: Canadian economic indicators demonstrate resilience and performance
Canadian economic indicators demonstrate resilience and performance • Canada’s unemployment rate to stabilize near current levels over the remainder of 2026 with slower population growth and expected GDP growth just under 1% for 2026 as a whole. • CPI rose 3.0% year over year in July 2026, up from a
Slide 36: Canadian economic indicators demonstrate resilience and performance
Canadian economic indicators demonstrate resilience and performance • Well diversified services-driven economy, with several key industries including finance, manufacturing, services and real estate • Following the 2007-2008 global recession, diversification had been a stabilizing factor and has led
Slide 37: Canadian house price growth has normalized
Canadian house price growth has normalized Household Debt to Income Ratio4 • Absolute price level is moderate compared to major global urban centers • Canadian debt to income ratio in line with many developed nations • Growth rates of house prices in Canada have converged across regions Average Home
Slide 38: Mortgage market supported by strong fundamentals
Mortgage market supported by strong fundamentals Mortgage Arrears by Number of Mortgages1 Canadian mortgages consistently outperform U.S. and U.K. mortgages • Low defaults and arrears reflect the strong Canadian credit culture • Mortgage interest is generally not tax deductible, resulting in an ince
Slide 39: Capital, Funding & Liquidity
Capital, Funding & Liquidity 38
Slide 40: Capital and Liquidity
Capital and Liquidity Capital and liquidity remain strong, supporting share buybacks Capital Position $B Q3/25 Q2/26 Q3/26 1 • CET1 ratio of 13.4%, down 19 bps from prior quarter Average Loans and Acceptances 576.3 597.8 608.6 1 • Bought back 7.5MM shares in the quarter Average Deposits 794.4 829.4
Slide 41: Funding & Liquidity
Funding & Liquidity1 A well-diversified, high-quality, client-driven balance sheet Assets Liabilities & Equity $1,178B Cash & Repos Unsecured 131% Funding 31% 40% Coverage Wholesale-sourced Funding Liquid Assets (Liquid Assets / Trading & Wholesale Funding) Secured Funding4 Investment Securities Per
Slide 42: Glossary
Glossary Definition Trading activities includes those that meet the risk definition of trading for regulatory capital and trading market risk management purposes as defined in accordance with the OSFI’s CAR Guideline that became effective on November 1, 2023 and in accordance with OSFI's Capital Ade
Slide 43: Endnotes
Endnotes Slide 5 – A leading, well-diversified North American Financial Institution 1. Full-time equivalent employees (FTE) for CIBC. 2. Adjusted results are non-GAAP measures. see slide 49-50 for further details. 3. Last twelve months (LTM) results as of July 31, 2026 (Q3/26). 4. For additional inf
Slide 44: Endnotes
Endnotes Slide 12 – Capital Deployment Strategy 1. Does not include Common Equity Tier 1 “CET1” Accretion and may not total to 100% due to rounding. CET1 accretion refers to capital deployed to support CET1 ratio growth from F19 (11.6%) to F26YTD (13.4%). CET1 accretion represents 12% of total capit
Slide 45: Endnotes
Endnotes Slide 17 – Canadian Personal & Business Banking Q3/26 Results 1. Adjusted results are non-GAAP measures. see slide 49-50 for further details. 2. Pre-provision, pre-tax earnings is revenue net of non-interest expenses and is a non-GAAP measure. see slide 49-50 for further details. 3. Loan am
Slide 46: Endnotes
Endnotes Slide 21 – U.S. Commercial Banking & Wealth Management FY25 Results (US$) 1. All figures based on F25 results or spot data as of October 31, 2025, unless otherwise stated. Certain prior period information has been restated. See the “External reporting changes” section in the 2025 Annual Rep
Slide 47: Endnotes
Endnotes Slide 28 – Canadian Real Estate Secured Personal Lending 1. LTV ratios for residential mortgages are calculated based on weighted average. See page 34 of Q3/26 report to shareholders, available on SEDAR+ at www.sedarplus.com for further details. 2. GVA and GTA definitions based on regional
Slide 48: Endnotes
Endnotes Slide 34 – Canadian economic indicators demonstrate resilience and performance 1. Source: Statistics Canada Canadian Economic Tracker Dashboard 2. Source: CIBC Economics 3. Source: Statistics Canada; U.S. Bureau of Labor Statistics, April 2026. Certain groups of people in Canada are counted
Slide 49: CIBC Investor Relations Contacts
CIBC Investor Relations Contacts GEOFF WEISS, SENIOR VICE PRESIDENT Email: Geoffrey.Weiss@cibc.com Phone: +1 (416) 980-5093 JASON PATCHETT, SENIOR DIRECTOR Email: Jason.Patchett@cibc.com Phone: +1 (416) 980-8691 48
Slide 50: Non-GAAP Measures
Non-GAAP Measures We use a number of financial measures to assess the performance of our business lines as described below. Some measures are calculated in accordance with GAAP (IFRS), while other measures do not have a standardized meaning under GAAP, and accordingly, these measures may not be comp
Slide 51: Non-GAAP Measures
Non-GAAP Measures Definition 1 Adjusted Diluted EPS We adjust our reported diluted EPS to remove the impact of items of note, net of income taxes, to calculate the adjusted EPS We adjust our reported net income attributable to common shareholders to remove the impact of items of note, net of income
Slide 52: Reconciliation for Non-GAAP Financial Measures
Reconciliation for Non-GAAP Financial Measures Third Quarter 2026 | 51
Slide 53: Reconciliation for Non-GAAP Financial Measures
Reconciliation for Non-GAAP Financial Measures Third Quarter 2026 | 52
Slide 54: Reconciliation for Non-GAAP Financial Measures
Reconciliation for Non-GAAP Financial Measures Third Quarter 2026 | 53
Slide 55: Reconciliation for Non-GAAP Financial Measures
Reconciliation for Non-GAAP Financial Measures Third Quarter 2026 | 54
Slide 56: Reconciliation for Non-GAAP Financial Measures
Reconciliation for Non-GAAP Financial Measures RECONCILIATION OF GAAP (REPORTED) RESULTS TO NON-GAAP (ADJUSTED) RESULTS ($ millions) Q3/26 Q2/26 Q1/26 Q4/25 Q3/25 Q2/25 Q1/25 Q4/24 Q3/24 Q2/24 Q1/24 Q4/23 Operating results - Reported Total revenue 8,368 8,006 8,398 7,576 7,254 7,022 7,281 6,617 6,60
Slide 57: Reconciliation for Non-GAAP Financial Measures
Reconciliation for Non-GAAP Financial Measures RECONCILIATION OF GAAP (REPORTED) RESULTS TO NON-GAAP (ADJUSTED) RESULTS (continued) ($ millions) Q3/26 Q2/26 Q1/26 Q4/25 Q3/25 Q2/25 Q1/25 Q4/24 Q3/24 Q2/24 Q1/24 Q4/23 Operating results - Adjusted Total revenue - adjusted 8,370 8,006 8,398 7,576 7,254
Canadian Imperial Bank of Commerce (CIBC) — Investor Presentation (August 2026) on 6ix