(January 12 – 12:55 ET) – CIBC has filed its Management Discussion & Analysis for fiscal 2000, reporting results and laying out its future goals for each business line.

For its highly profitable wealth management division, CIBC is targeting a 50% return on equity, a 20 basis point increase in GIC market share, growing index fund assets by 15% annually, and increase total wealth management assets by 6% annually.

For its World Markets division, CIBC is looking for a repeat of last year’s performance. It hopes to sustain $1 billion in after-tax net income from the division and achieve a 15% to 20% return on equity. Last year it delivered 25.6%.

In the e-Commerce division, it hopes to generate a 17% to 20% ROE, excluding the results of Amicus, the service that offers banking through retail brands. It hopes to add 1 million new customers to Amicus by the end of 2002, and bring at least two new ventures to cibc.com each year.

CIBC is aiming at a 16% to 18% ROE by the end of 2002. It hopes to improve customer loyalty by 10% by 2002, and to become the top small business bank, also by 2002.

In its economic assessment, CIBC notes that the outlook is gloomier, thanks to possible energy-induced inflation, and the last rate tightening cycle. However it notes that the drop in the capital gains tax inclusion rate should be supportive for investment, and the ongoing tax cuts should ease the pain in the short-run, while making the economy less interest-sensitive in the long-run.