CIBC is reporting strong results for the fourth quarter ended October 31 as it rebounds from a loss in the same quarter one year ago.

The bank says Q4 net income was $510 million, or $1.28 per share, compared with a loss of $100 million, or 40¢ per share, in the year-earlier quarter.

CIBC says it has set aside $49 million to deal with the possible fallout from regulatory investigations into its dealings with fallen energy trader Enron Corp.

Fourth-quarter loan loss provisions fell to $131 million, from $280 million. Return on common equity climbed to 17.9% from negative 6% a year ago, while revenues advanced to $2.9 billion from $2.5 billion.

The bank says the profit contribution from its retail banking operations slipped slightly in the quarter, but this was offset by a big improvement from CIBC World Markets division, which turned last year’s loss to a profit.

“Solid performance this year reflects decisive actions taken over the past year and a half. We have reduced risk and focused resources on key areas of strategic advantage,” said John Hunkin, president and CEO, in a news release. “We are pleased with another solid quarter, closing off a strong year or CIBC — in terms of both financial and share price performance.”

CIBC also raised its quarterly dividend to 50¢ from 41¢.