At CIBC, update to loan-loss model lifts credit provisions 38%

Changes to its expected credit loss (ECL) model contributed to a C$111 million ($84 million) increase in provisions at Canadian Imperial Bank of Commerce in the three months to end-October.

Provisions for credit losses totalled C$402 million as of end-October, up 38.1% on the three months prior and 52.3% on a year ago, their highest since CIBC adopted the IFRS 9 accounting standard in Q1 2018.

Quarter on quarter, provisions for credit losses (PCLs) increased percentage-wise the most for

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: