February 23, 2017 / 11:22 AM / in 5 months

CIBC reports 13 percent Q1 profit rise, beats forecasts

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TORONTO, Feb 23 (Reuters) - Canadian Imperial Bank of Commerce, Canada's fifth-biggest lender, on Thursday reported a 13 percent rise in first-quarter earnings benefiting from growth in its retail, wealth management and capital markets businesses.

Net income, excluding one-off items, for the quarter ended Jan. 31 rose to C$1.17 billion ($889 million), or C$2.89 per share. Analysts on average had forecast earnings of C$2.59 per share, according to Thomson Reuters I/B/E/S. ($1 = 1.3155 Canadian dollars) (Reporting by Matt Scuffham. Editing by Jane Merriman)

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