Company encouraged by rise in revenue
Loan fundings boost revenues
CIBC today reported a big increase in fourth quarter profit, and announced plans to cut 900 jobs.Net income was $728 million, or $2.06 per share, in the quarter ended Oct. 31, up sharply from $402 million, or $1.06 per share, in the year-before period.A year ago, the bank’s profit was hurt by a provision taken […]
Bank reports record annual profit
Bank ups dividend
Profit up 19%
TD Bank today reported lower fourth-quarter profit as a $138 million tax charge on its reorganization of the TD Waterhouse discount brokerage pulled down earnings.The bank said it made $589 million, or 82¢ a share, during the quarter ended Oct. 31, 2005 down from $595 million, or 90¢ a share a year earlier.Stripping out a […]
Standard & Poor’s announced yesterday that it would include all option expenses in earnings reports for its U.S. indices, including the S&P 500.The inclusion of option expense will result in a 4.2% decrease in earnings for the S&P 500 in 2005, it notes. The information technology sector will be hardest hit, with an earnings reduction […]
Strong gains in group insurance
Brokerage, mutual fund units experienced strong growth: StatsCan