(February 17 – 18:25 ET) – CIBC is announcing that first quarter 2000 earnings will exceed the consensus earnings estimate of 80 cents per share fully diluted by approximately 25 to 30 per cent.

CIBC’s first quarter earnings reflect strong core operating results and higher than normal annual incentive fees on investment management activities in the U.S. In addition, favourable capital markets resulted in strong revenues in CIBC World Markets.

CIBC says it will provide a full report of its first quarter 2000 results on March 2, 2000.
-IE Staff