CIBC Announces Fourth Quarter and Fiscal 2013 Results

 ____________________________________________________________________
|CIBC's 2013 audited annual consolidated financial statements and    |
|accompanying management's discussion & analysis (MD&A) will be      |
|available today at                                                  |
|www.cibc.com, along|
|with the supplementary financial information report which includes  |
|fourth quarter financial information.                               |
|____________________________________________________________________| 
TORONTO, Dec. 5, 2013 /CNW/ - CIBC (TSX: CM) (NYSE: CM) announced net income 
of $836 million for the fourth quarter ended October 31, 2013, compared with 
$852 million for the fourth quarter of 2012. Adjusted net income((1)) of $905 
million for the quarter was up from $858 million for the fourth quarter of 
2012. Reported diluted earnings per share (EPS) of $2.05 and adjusted diluted 
EPS((1)) of $2.22 for the fourth quarter of 2013, compared with reported 
diluted EPS of $2.02 and adjusted diluted EPS((1)) of $2.04, respectively, for 
the same period last year. 
CIBC's results for the fourth quarter of 2013 were affected by the following 
items of note aggregating to a negative impact of $0.17 per share: 


    --  $39 million ($37 million after-tax, or $0.09 per share)
        restructuring charge relating to FirstCaribbean International
        Bank Limited (CIBC FirstCaribbean);
    --  $35 million ($19 million after-tax, or $0.05 per share)
        impairment of an equity position associated with our exited
        U.S. leveraged finance portfolio;
    --  $24 million ($18 million after-tax, or $0.05 per share)
        expenses relating to the development and marketing of our
        enhanced proprietary travel rewards program and to the proposed
        Aeroplan transactions with Aimia Canada Inc. (Aimia) and The
        Toronto-Dominion Bank Group (TD) in the first quarter of 2014;
    --  $15 million ($11 million after-tax, or $0.03 per share) gain
        from the structured credit run-off business; and
    --  $7 million ($6 million after-tax, or $0.01 per share)
        amortization of intangible assets.

CIBC's reported net income of $836 million and adjusted net income((1)) of 
$905 million for the fourth quarter of 2013 compared with reported net income 
of $890 million and adjusted net income((1)) of $943 million for the third 
quarter ended July 31, 2013. Reported diluted EPS of $2.05 and adjusted 
diluted EPS((1)) of $2.22 for the fourth quarter of 2013 compared with 
reported diluted EPS of $2.16 and adjusted diluted EPS((1)) of $2.29 for the 
prior quarter.

For the year ended October 31, 2013, CIBC reported net income of $3.4 billion 
and adjusted net income((1)) of $3.6 billion, compared with reported net 
income of $3.3 billion and adjusted net income((1)) of $3.4 billion for 2012. 
Reported diluted EPS of $8.23 and adjusted diluted EPS((1)) of $8.78 for 2013 
compared with reported diluted EPS of $7.85 and adjusted diluted EPS((1)) of 
$8.07 for 2012.

CIBC's adjusted return on common shareholders' equity((1)) was 22.3% for the 
year ended October 31, 2013 and the Basel III Common Equity Tier 1 ratio was 
9.4% as at October 31, 2013.

"CIBC reported another year of solid progress in 2013," says Gerry McCaughey, 
CIBC President and Chief Executive Officer. "Our results reflect the strength 
of our client-focused strategy."

"Within an environment that continues to be challenging, CIBC has the right 
strategy to continue to deliver value," adds McCaughey. "In 2014, we will 
continue to focus on cultivating deeper relationships with our clients and 
pursing strategic growth."

Performance against Objectives

 _____________________________________________________________________
| Our key measures of |      Our Objectives   |        2013 results   |
|     performance     |                       |                       |
|_____________________|_______________________|_______________________|
|Adjusted Earnings per|Adjusted EPS growth of |2013: $8.78, up 9% from|
|share (EPS) ((1) )   |5%-10% per annum, on   |2012                   |
|                     |                       |                       |
|growth               |average, over the next |                       |
|                     |3-5 years              |                       |
|_____________________|_______________________|_______________________|
|Adjusted Return on   |Adjusted return on     |22.3%                  |
|common               |common shareholders'   |                       |
|                     |equity of              |                       |
|shareholders' equity |                       |                       |
|(ROE) ((1))          |20% through the cycle  |                       |
|_____________________|_______________________|_______________________|
|Capital Strength     |Basel III Common Equity|Basel III Common Equity|
|                     |Tier 1 ratio to exceed |Tier 1 ratio of 9.4%   |
|                     |the                    |                       |
|                     |                       |                       |
|                     |regulatory target set  |                       |
|                     |by Office of the       |                       |
|                     |                       |                       |
|                     |Superintendent of      |                       |
|                     |Financial Institutions |                       |
|                     |(OSFI)                 |                       |
|_____________________|_______________________|_______________________|
|Business mix         |75% Retail ((2))/25%   |77%/23%                |
|                     |wholesale (as measured |                       |
|                     |by                     |Retail ((2))/wholesale |
|                     |                       |                       |
|                     |economic capital ((1)))|                       |
|_____________________|_______________________|_______________________|
|Risk ((3))           |Maintain provision for |44 basis points        |
|                     |credit losses as a     |                       |
|                     |percentage             |                       |
|                     |                       |                       |
|                     |of average loans and   |                       |
|                     |acceptances (loan loss |                       |
|                     |ratio)                 |                       |
|                     |                       |                       |
|                     |between 45 and 60 basis|                       |
|                     |points through the     |                       |
|                     |                       |                       |
|                     |business cycle         |                       |
|_____________________|_______________________|_______________________|
|Productivity         |Achieve a median       |56.2%                  |
|                     |ranking within our     |                       |
|                     |industry               |                       |
|                     |                       |                       |
|                     |group, in terms of     |                       |
|                     |adjusted non-interest  |                       |
|                     |expenses to            |                       |
|                     |                       |                       |
|                     |total revenue (adjusted|                       |
|                     |efficiency ratio) ((1))|                       |
|_____________________|_______________________|_______________________|
|Adjusted Dividend    |40%-50% (common share  |43.2%                  |
|payout ratio ((1))   |dividends as a         |                       |
|                     |                       |                       |
|                     |percentage of adjusted |                       |
|                     |net income after       |                       |
|                     |preferred              |                       |
|                     |                       |                       |
|                     |share dividends and    |                       |
|                     |premium on redemptions)|                       |
|_____________________|_______________________|_______________________|
|Total shareholder    |Outperform the S&P/TSX |Five years ended       |
|return               |Composite Banks Index  |October 31, 2013: CIBC |
|                     |                       |- 109.3%               |
|                     |(dividends reinvested) |                       |
|                     |on a rolling five-year |Index - 99.0%          |
|                     |basis                  |                       |
|_____________________|_______________________|_______________________|

Core business performance
Retail and Business Banking reported net income of $2.5 billion in 2013, up 
from $2.3 billion in 2012, as a result of wider spreads, volume growth across 
most retail products and higher fees.

Retail and Business Banking continued to make strategic investments throughout 
2013 in areas that are enhancing the relationship we have with, and the value 
we provide to, our clients:
    --  As part of CIBC's commitment to provide our clients with the
        market leading travel rewards credit card, CIBC launched an
        enhanced Aventura card and signed a 10-year extension with
        Aimia to continue to offer our clients Aeroplan credit cards. 
        Combined, our clients have the largest offering of choice in
        the Canadian marketplace.
    --  We became the first and remain the only bank to launch a new
        mobile payments App for clients, the CIBC Mobile Payment App.
    --  We introduced the CIBC Mobile Business App, offering online
        cash management solutions for our business banking clients.
    --  More than one million active clients are now using our
        award-winning mobile banking App to perform many of their
        everyday banking transactions from their mobile device.
    --  We launched the CIBC Everyday Banking Bundle and the CIBC
        Premium Banking Bundle to make it easier for our clients to
        bank with us and reward them for doing so.
    --  The ongoing conversion of our FirstLine mortgage clients into
        CIBC-brand mortgages continues to exceed targets, and supports
        our focus on client retention by introducing these clients to
        the benefits of a broader banking relationship with CIBC.

Today, CIBC and the Greater Toronto Airport Authority (GTAA) announced an 
innovative multi-year partnership that establishes CIBC as the exclusive 
financial services provider of full service banking for the 35 million people 
who pass through Toronto Pearson Airport each year.

"We made good progress against our priorities in 2013 of building deeper 
relationships with our clients, enhancing our sales and service capabilities, 
and acquiring and retaining clients," says David Williamson, Group Head, 
Retail and Business Banking. "As a result, we accelerated revenue, increased 
our margins and improved our client satisfaction scores."

Wealth Management reported net income of $388 million in 2013, compared with 
$339 million in 2012. Adjusting for items of note((1)), net income of $392 
million was up $87 million from $305 million in 2012. Net income increased as 
a result of higher revenue across all businesses.

Wealth Management strengthened its business on many fronts in 2013 in support 
of our strategic priorities to attract and deepen client relationships, seek 
new sources of domestic assets and pursue acquisitions and investments. Key 
highlights included:
    --  Announcement of our intent to acquire Atlantic Trust, a U.S.
        private wealth management firm, as part of our strategic plan
        to grow our North American wealth management business.  We are
        on track with our transition plans and expect to complete this
        acquisition in the first quarter of fiscal 2014 following
        regulatory approvals.
    --  We achieved our 19(th) consecutive quarter of positive retail
        net sales of long-term mutual funds and had record long-term
        net sales of $4.8 billion.
    --  CIBC Private Wealth Management and CIBC Wood Gundy successfully
        attracted new clients and assets to the Wealth Management
        platform at an accelerated rate during the second half of the
        year.
    --  We made significant enhancements to the CIBC Investor's Edge
        platform, with the launch of a new online interface to provide
        clients with additional tools and functionality to monitor
        their investment portfolios, including a new Exchange Traded
        Funds (ETF) Centre and enhanced research centre that includes
        equity reports from Morningstar and Thomson-Reuters.
    --  CIBC Wood Gundy and CIBC Investor's Edge continue to strengthen
        client satisfaction indicators.

"We will continue to invest in our Wealth Management platform, domestically 
and internationally, to enhance the client experience and strengthen 
shareholder returns," says Victor Dodig, Group Head, Wealth Management.

Despite ongoing uncertainty in global markets, Wholesale Banking delivered 
strong results, reporting net income of $716 million, compared with $613 
million in 2012. Adjusting for items of note((1)), net income of $834 million 
in 2013 compared with net income of $680 million in 2012.

Wholesale Banking's objective is to be the premier client-focused wholesale 
bank centred in Canada, with a reputation for consistent and sustainable 
earnings, for sound risk management, and for being a well-managed firm known 
for excellence in everything we do. During 2013, Wholesale Banking:
    --  Ranked as #1 in Canadian equity markets in the annual Brendan
        Wood International survey by institutional investors who
        recognized the leadership demonstrated by CIBC's equity
        research, sales and trading teams and investor conferences.
    --  Named top forecaster of Australian and Canadian dollars by
        Bloomberg for the four quarters ended June 30, 2013.
    --  Ranked #1 in Canadian equity trading by volume, value and
        number of trades by TSX and ATS Market Share Report,
        2009-present.
    --  Led or co-led several key transactions, most notably Choice
        Properties Real Estate Investment Trust's $460 million IPO of
        Trust Units, $600 million inaugural bond offering and $500
        million senior unsecured credit facility.

Subsequent to the quarter-end, on November 29, 2013, CIBC sold an equity 
investment that was previously acquired through a loan restructuring in CIBC's 
exited European leveraged finance business. The transaction will result in an 
after-tax gain, net of associated expenses, of approximately $50 million in 
the first quarter of 2014.

"Wholesale Banking delivered high quality and consistent performance in 2013, 
despite continued challenging market conditions globally," says Richard 
Nesbitt, Chief Operating Officer.

While investing in our core Wholesale Banking strategy, CIBC continued to 
actively manage and reduce its structured credit run-off portfolio. In 2013, 
notional exposures declined by $5.5 billion as a result of sales and 
terminations of positions, as well as normal amortization.

(1)      For additional information, see the "Non-GAAP measures"
         section.

(2)      For the purpose of calculating this ratio, Retail includes
         Retail and Business Banking, Wealth Management and
         International Banking operations (reported as part of
         Corporate and Other). The ratio represents the amount of
         economic capital attributed to these businesses as at the end
         of the period.

(3)      Going forward, our target will be to maintain a loan loss
         ratio of less than 60 basis points.

Strong fundamentals
While investing in its core businesses, CIBC has continued to strengthen its 
key fundamentals. In 2013, CIBC maintained its capital strength, competitive 
productivity and sound risk management:
    --  CIBC's capital ratios are strong, including Basel III Common
        equity Tier 1 ratio of 9.4%, and Tier 1 and Total capital
        ratios of 11.6% and 14.6% at October 31, 2013;
    --  Credit quality has remained stable, with CIBC's loan loss ratio
        of 44 basis points compared with 53 basis points in 2012; and
    --  Market risk, as measured by average Value-at-Risk, was $4.6
        million in 2013 compared with $4.9 million in 2012.

Making a difference in our Communities
As a leader in community investment, CIBC is committed to supporting causes 
that matter to its clients, employees and communities. During the fourth 
quarter of 2013:
    --  CIBC continued its long-term commitment to supporting breast
        cancer initiatives. The 2013 Canadian Breast Cancer Foundation
        CIBC Run for the Cure raised $27 million, including more than
        $3 million contributed by Team CIBC through pledges,
        fundraising activities and donations to the CIBC Pink
        Collection and close to $500,000 raised by students across
        Canada as part of the Post Secondary Challenge. CIBC was also
        proud to co-sponsor the Pink Tour, which made its final stop in
        October after bringing breast health education to 90
        communities across Ontario.
    --  CIBC marked its fourth year as title sponsor of the CIBC 401
        Bike Challenge, a three-day, 576-kilometre ride from Toronto's
        Hospital for Sick Children to the Montreal Children's Hospital.
        A number of CIBC employees and their fellow riders raised more
        than $274,000 to support kids with cancer and their families
        through the Sarah Cook Fund of the Cedars Cancer Institute.
    --  In support of Canada's para athletes, CIBC marked the two-year
        countdown to the 2015 TORONTO Parapan Am Games and announced
        its multi-year commitment as the Official Banking Partner of
        the Canadian Paralympic Committee.

During the quarter, CIBC was ranked among the top 10 Safest Banks in North 
America by Global Finance magazine. CIBC was recognized by Mediacorp as one of 
Canada's Top 100 Employers for a second consecutive year and as one of 
Canada's Top Employers for Young People. CIBC was also once again named a 
constituent of the following widely regarded indices:
    --  Dow Jones Sustainability World Index for a 12th consecutive
        year, and in the Dow Jones Sustainability North American Index
        since its inception in 2005;
    --  FTSE4Good Index since 2001; and
    --  Jantzi Social Index since 2000.

"We are proud of the contributions we have made and the recognition we have 
received," says Mr. McCaughey. "I would like to thank our employees for the 
work that they do in serving our clients, supporting our communities and 
helping CIBC achieve business success."

Fourth quarter financial highlights
                                                       As at or for the         
                                                                                           As at or for the     
                                                                                        twelve months ended
                                                     three months ended                                         
                                    2013           2013            2012                 2013           2012     
                                 Oct. 31                                   (                        Oct. 31    (
                                                Jul. 31         Oct. 31 (1))         Oct. 31                (1))

Financial results ($                                                                        
millions)                                                                                                       

Net interest income          $    1,894    $     1,883     $     1,848           $    7,455    $     7,326      

Non-interest income               1,306          1,380           1,311                5,328          5,223      

Total revenue                     3,200          3,263           3,159               12,783         12,549      

Provision for credit losses         271            320             328                1,121          1,291      

Non-interest expenses             1,932          1,874           1,829                7,614          7,215      

Income before taxes                 997          1,069           1,002                4,048          4,043      

Income taxes                        161            179             150                  648            704      

Net income                   $      836    $       890     $       852           $    3,400    $     3,339      

Net income (loss)                                                                               
attributable to
non-controlling interests            (7)             -               2                   (3)             8      
      Preferred shareholders         24             25              29                   99            158      
      Common shareholders           819            865             821                3,304          3,173      

Net income attributable to   $             $               $                     $             $
equity shareholders                 843            890             850                3,403          3,331      

Financial measures                                                                                              

Reported efficiency ratio          60.4  %        57.4  %         57.9     %           59.6  %        57.5     %

Adjusted efficiency ratio (                                                                     
(2))                               56.4  %        55.6  %         56.5     %           56.2  %        55.8     %

Loan loss ratio                    0.41  %        0.45  %         0.53     %           0.44  %        0.53     %

Reported return on common                                                                       
shareholders' equity               19.9  %        21.6  %         21.7     %           20.9  %        22.0     %

Adjusted return on common                                                                       
shareholders' equity ((2))         21.5  %        22.9  %         21.8     %           22.3  %        22.6     %

Net interest margin                1.85  %        1.85  %         1.83     %           1.85  %        1.84     %

Net interest margin on                                                                          
average interest-earning
assets                             2.10  %        2.12  %         2.14     %           2.12  %        2.15     %

Return on average assets           0.82  %        0.88  %         0.85     %           0.84  %        0.84     %

Return on average                                                                               
interest-earning assets            0.93  %        1.01  %         0.99     %           0.97  %        0.98     %

Total shareholder return          15.15  %       (2.04) %         8.42     %          18.41  %        9.82     %

Reported effective tax rate        16.2  %        16.7  %         15.0     %           16.0  %        17.4     %

Adjusted effective tax rate(                                                                    
(2))                               16.8  %        17.2  %         16.2     %           16.7  %        18.1     %

Common share information                                                                                        

Per share                                                                                                       
($)         - basic earnings $     2.05    $      2.16     $      2.02           $     8.24    $      7.86 
            - reported                            2.16            2.02                 8.23           7.85      
            diluted earnings       2.05                                                         
            - adjusted             2.22           2.29            2.04                 8.78           8.07      
            diluted earnings
            ((2))                                                                               
            - dividends            0.96           0.96            0.94                 3.80           3.64      
            - book value          41.44          40.11           37.48                41.44          37.48      

Share price                                                                                                     
($)         - high                88.70          80.64           78.56                88.70          78.56 
            - low                 76.91          74.10           72.97                74.10          68.43      
            - closing             88.70          77.93           78.56                88.70          78.56      

Shares      -                                                                                                   
outstanding weighted-average
(thousands) basic               399,819        399,952         405,404              400,880        403,685 
            -                   400,255        400,258         405,844              401,261        404,145      
            weighted-average
            diluted                                                                             
            - end of period     399,250        399,992         404,485              399,250        404,485      

Market capitalization ($     $             $               $                     $             $
millions)                        35,413         31,171          31,776               35,413         31,776      

Value measures                                                                                                  

Dividend yield (based on                                                                        
closing share price)                4.3  %         4.9  %          4.8     %            4.3  %         4.6     %

Reported dividend payout                                                                        
ratio                              46.9  %        44.4  %         46.4     %           46.1  %        46.3     %

Adjusted dividend payout                                                                        
ratio ((2))                        43.2  %        41.8  %         46.1     %           43.2  %        45.1     %

Market value to book value                                                                      
ratio                              2.14           1.94            2.10                 2.14           2.10      

On- and off-balance sheet                                                                       
information ($ millions)                                                                                        

Cash, deposits with banks    $             $               $                     $             $
and securities                   78,361         76,451          70,061               78,361         70,061      

Loans and acceptances, net                                                                      
of allowance                    256,374        254,221         252,732              256,374        252,732      

Total assets                    398,389        397,547         393,385              398,389        393,385      

Deposits                        313,528        311,490         300,344              313,528        300,344      

Common shareholders' equity      16,546         16,044          15,160               16,546         15,160      

Average assets                  405,634        403,081         401,092              403,946        397,382      

Average interest-earning                                                                        
assets                          357,749        351,753         343,840              351,677        341,053      

Average common shareholders'                                                                    
equity                           16,355         15,921          15,077               15,807         14,442      

Assets under administration    1,513,126     1,460,311       1,445,870             1,513,126     1,445,870      

Balance sheet quality                                                                           
measures                                                                                                        

Basel III - Transitional                                                                        
basis                                                                                                           


    Risk-weighted assets                                                                                    
(RWA) ($ millions)           $  151,338    $   152,176              n/a          $  151,338             n/a 
    Common Equity Tier 1             %              %                                    %                  
(CET1) ratio                       11.0           10.7              n/a                11.0             n/a 
    Tier 1 capital ratio       11.8  %        11.4  %           n/a                11.8  %          n/a      


        Total capital ratio        14.3  %        14.0  %           n/a                14.3  %          n/a     

Basel III - All-in basis                                                                                        
        RWA ($ millions)     $  136,747    $   133,994              n/a          $  136,747             n/a     
        CET1 ratio                  9.4  %         9.3  %           n/a                 9.4  %          n/a     
        Tier 1 capital ratio       11.6  %        11.6  %           n/a                11.6  %          n/a     
        Total capital ratio        14.6  %        14.7  %           n/a                14.6  %          n/a     

Basel II                                                                                                        
        RWA ($ millions)             n/a            n/a    $   115,229                   n/a   $   115,229      
        Tier 1 capital ratio         n/a            n/a           13.8     %             n/a          13.8     %
        Total capital ratio          n/a            n/a           17.3     %             n/a          17.3     %

Other information                                                                                               

Retail / wholesale ratio       77 % / 23 %    77 % / 23 %     77 % / 23    %       77 % / 23 %    77 % / 23    %

Full-time equivalent                                                                            
employees                        43,039         43,516          42,595               43,039          42,595     

(1) Certain information has been           
    reclassified to conform to the
    presentation adopted in the current
    period.

(2) For additional information, see the    
    "Non-GAAP measures" section.

n/a Not applicable.                        

Review of Retail and Business Banking fourth quarter results 
                                                                      
                                        2013        2013        2012  

$ millions, for the three months                                      
ended                                Oct. 31     Jul. 31     Oct. 31

Revenue                                                               

  Personal banking                 $  1,695    $  1,672    $  1,616   

  Business banking                      384         384         378   

  Other                                  25          58          42   

Total revenue                         2,104       2,114       2,036   

Provision for credit losses             215         241         255   

Non-interest expenses                 1,085       1,033       1,030   

Income before taxes                     804         840         751   

Income taxes                            194         202         182   

Net income                         $    610    $    638    $    569   

Net income attributable to:                                           

  Equity shareholders  (a)         $    610    $    638    $    569   

Efficiency ratio                       51.5  %     48.9  %     50.6  %

Return on equity ((1))                 55.3  %     60.5  %     57.1  %

Charge for economic capital ((1))                          $          
(b)                                $   (137)   $   (132)       (126)

Economic profit ((1)) (a+b)        $    473    $    506    $    443   

Full-time equivalent employees       21,781      22,186       21,857  

(1) For additional information, see the "Non-GAAP measures"
    section.

Net income was $610 million, up $41 million from the fourth quarter of 2012. 
Adjusted net income( (1)) was $629 million, up $58 million from the fourth 
quarter of 2012.

Revenue of $2,104 million was up $68 million from the fourth quarter of 2012. 
Excluding the impact of Treasury allocations, revenue was up $75 million from 
the fourth quarter of 2012. Personal banking and business banking revenue 
increased primarily due to volume growth across most products and higher fees, 
partially offset by lower spreads in business deposits. Other revenue was down 
primarily due to lower treasury allocations and lower revenue in our exited 
FirstLine mortgage broker business.

Provision for credit losses of $215 million was down $40 million from the 
fourth quarter of 2012, primarily due to lower write-offs in cards, partially 
offset by higher losses in commercial banking.

Non-interest expenses of $1,085 million were up $55 million from the fourth 
quarter of 2012, mainly due to higher employee-related compensation relating 
to an increased number of client-facing employees, and expenses relating to 
the development and marketing of our enhanced proprietary travel rewards 
program and to the proposed Aeroplan transactions with Aimia and TD in the 
first quarter of 2014.

Income tax expense of $194 million was up $12 million from the fourth quarter 
of 2012 due to higher income.

(1) For additional information, see the "Non-GAAP measures" section.

Review of Wealth Management fourth quarter results
                                                                      
                                                                      
                                        2013        2013        2012  

$ millions, for the three                       
months ended                         Oct. 31     Jul. 31     Oct. 31  

Revenue                                                               

  Retail brokerage                 $    272    $    267    $    256   

  Asset management                      165         159         138   

  Private wealth management              33          32          26   

Total revenue                           470         458         420   

Provision for credit losses               1           -           -   

Non-interest expenses                   334         325         308   

Income before taxes                     135         133         112   

Income taxes                             31          31          28   

Net income                         $    104    $    102    $     84   

Net income attributable to:                                           

  Equity shareholders  (a)         $    104    $    102    $     84   

Efficiency ratio                       71.2  %     71.0  %     73.4  %

Return on equity ((1))                 21.6  %     21.4  %     18.9  %

Charge for economic capital (                  $
(1)) (b)                           $    (59)        (58)   $    (55)  

Economic profit ((1)) (a+b)        $     45    $     44    $     29   

Full-time equivalent employees        3,840       3,837       3,783   

(1) For additional information, see the "Non-GAAP measures"
                                                   section.

Net Income for the quarter was $104 million, up $20 million from the fourth 
quarter of 2012.

Revenue of $470 million was up $50 million from the fourth quarter of 2012, 
primarily due to higher average client assets under management driven by 
market appreciation and higher net sales of long-term mutual funds, higher 
contribution from our investment in American Century Investments, and higher 
fee-based revenue.

Non-interest expenses of $334 million were up $26 million from the fourth 
quarter of 2012, primarily due to higher performance-based compensation.

Review of Wholesale Banking fourth quarter results
                                         2013        2013        2012  

$ millions, for the three                                  
months ended                          Oct. 31     Jul. 31     Oct. 31  

Revenue                                                                

  Capital markets                   $    279    $    349    $    295   

  Corporate and investment                           243               
  banking                                249                     206 

  Other                                   (6)          4          74   

Total revenue ((1))                      522         596         575   

Provision for (reversal of)                                
credit losses                             (1)         14          66   

Non-interest expenses                    272         303         263   

Income before taxes                      251         279         246   

Income taxes ((1))                        41          62          53   

Net income                          $    210    $    217    $    193   

Net income attributable to:                                            

  Equity shareholders  (a)          $    210    $    217    $    193   

Efficiency ratio                        52.1  %     50.9  %     45.7  %

Return on equity ((2))                  36.1  %     38.7  %     35.0  %

Charge for economic capital (                              
(2)) (b)                            $    (72)   $    (70)   $    (70)  

Economic profit ((2)) (a+b)         $    138    $    147    $    123   

Full-time equivalent                                       
employees                              1,273       1,302       1,268   

(1) Revenue and income taxes are reported on a taxable equivalent
    basis (TEB). Accordingly, revenue and income taxes include a
    TEB adjustment of $78 million for the quarter
    ended October 31, 2013 (July 31, 2013: $90 million; October
    31, 2012: $92 million).

(2) For additional information, see the "Non-GAAP measures"
    section.

Net income for the quarter was $210 million, compared with net income of $217 
million for the third quarter of 2013. Adjusted net income( (1)) for the 
quarter was $218 million, compared with $223 million for the prior quarter.

Revenue of $522 million was down $74 million from the third quarter, primarily 
due lower Capital Markets revenue and a loss related to impairment of an 
equity position associated with our exited U.S. leveraged finance portfolio, 
partially offset by higher revenue in U.S. Real Estate Finance and the 
Structured Credit Run-Off business.

Net reversal of credit losses of $1 million compared with a provision for 
credit losses of $14 million from the third quarter, mainly due to losses in 
our U.S. Leveraged Finance portfolio in the prior quarter.

Non-interest expenses of $272 million were down $31 million from the third 
quarter, primarily due to lower performance-based compensation.

Income tax expense of $41 million was down $21 million from the third quarter, 
due to lower income and a decrease in the relative proportion of income earned 
in higher tax jurisdictions.

(1)  For additional information, see the "Non-GAAP measures" section.

Review of Corporate and Other fourth quarter results 
                                            2013      2013      2012  

$ millions, for the three                Oct. 31
months ended                                       Jul. 31   Oct. 31  

Revenue                                                               

  International banking                $    148  $    142  $    149   

  Other                                     (44)      (47)      (21)  

Total revenue ((1))                         104        95       128   

Provision for credit losses                  56        65         7   

Non-interest expenses                       241       213       228   

Loss before taxes                          (193)     (183)     (107)  

Income taxes ((1))                         (105)     (116)     (113)  

Net income (loss)                      $    (88) $    (67) $      6   

Net income (loss) attributable                                        
to:                                                                 

  Non-controlling interests            $     (7) $      -  $      2   

  Equity shareholders                       (81)      (67)        4   

Full-time equivalent employees           16,145    16,191    15,687   

(1)  TEB adjusted. See footnote 1 in "Wholesale Banking" section for
     additional details.

Net income was down $94 million from the fourth quarter of 2012 as a result of 
lower Other revenue, a higher provision for credit losses and higher 
non-interest expenses.

Revenue was down $24 million from the fourth quarter of 2012 mainly due to 
lower unallocated treasury revenue.

Provision for credit losses was up $49 million from the fourth quarter of 2012 
primarily due to higher losses in CIBC FirstCaribbean.

Non-interest expenses were up $13 million from the fourth quarter of 2012 
mainly due to a restructuring charge relating to CIBC FirstCaribbean.

Income tax benefit was down $8 million from the fourth quarter of 2012 mainly 
due to a lower TEB adjustment.

Consolidated balance sheet 

$ millions, as at October 31                        2013         2012 

ASSETS                                                                

Cash and non-interest-bearing deposits with    $   2,211    $   2,613 
banks

Interest-bearing deposits with banks               4,168        2,114 

Securities                                                            

Trading                                           44,068       40,330 

Available-for-sale (AFS)                          27,627       24,700 

Designated at fair value (FVO)                       287          304 
                                                  71,982       65,334 

Cash collateral on securities borrowed             3,417        3,311 

Securities purchased under resale agreements      25,311       25,163 

Loans                                                                 

Residential mortgages                            150,938      150,056 

Personal                                          34,441       35,323 

Credit card                                       14,772       15,153 

Business and government                           48,201       43,624 

Allowance for credit losses                       (1,698)      (1,860)
                                                 246,654      242,296 

Other                                                                 

Derivative instruments                            19,947       27,039 

Customers' liability under acceptances             9,720       10,436 

Land, buildings and equipment                      1,719        1,683 

Goodwill                                           1,733        1,701 

Software and other intangible assets                 756          656 

Investments in equity-accounted associates and     1,713        1,635 
joint ventures

Other assets                                       9,058        9,404 
                                                  44,646       52,554 
                                               $ 398,389    $ 393,385 

LIABILITIES AND EQUITY                                                

Deposits                                                              

Personal                                       $ 125,034    $ 118,153 

Business and government                          133,100      125,055 

Bank                                               5,592        4,723 

Secured borrowings                                49,802       52,413 
                                                 313,528      300,344 

Obligations related to securities sold short      13,327       13,035 

Cash collateral on securities lent                 2,099        1,593 

Capital Trust securities                           1,638        1,678 

Obligations related to securities sold under       4,887        6,631 
repurchase agreements

Other                                                                 

Derivative instruments                            19,724       27,091 

Acceptances                                        9,721       10,481 

Other liabilities                                 10,808       10,671 
                                                  40,253       48,243 

Subordinated indebtedness                          4,228        4,823 

Equity                                                                

Preferred shares                                   1,706        1,706 

Common shares                                      7,753        7,769 

Contributed surplus                                   82           85 

Retained earnings                                  8,402        7,042 

Accumulated other comprehensive income (AOCI)        309          264 

Total shareholders' equity                        18,252       16,866 

Non-controlling interests                            177          172 

Total equity                                      18,429       17,038 
                                               $ 398,389    $ 393,385 

Consolidated statement of income 
                                                                            
                                For the three               For the twelve       
                                 months ended                 months ended       
                     2013     2013       2012               2013      2012       

$ millions,       Oct. 31  Jul. 31    Oct. 31    (       Oct. 31   Oct. 31    (  
except as noted                               (1))                         (1))

Interest income                                                                  

Loans            $ 2,453  $ 2,479    $ 2,494           $  9,795  $ 10,020        

Securities           407      412        377              1,631     1,522        

Securities            91       82         87                347       323        
borrowed or
purchased under
resale
agreements

Deposits with          8        9         11                 38        42        
banks
                   2,959    2,982      2,969             11,811    11,907        

Interest expense                                                                 

Deposits             867      904        895              3,541     3,630        

Securities sold       84       85         84                334       333        
short

Securities lent       25       20         30                102       156        
or sold under
repurchase
agreements

Subordinated          45       46         52                193       208        
indebtedness

Capital Trust         35       31         36                136       144        
securities

Other                  9       13         24                 50       110        
                   1,065    1,099      1,121              4,356     4,581        

Net interest       1,894    1,883      1,848              7,455     7,326        
income

Non-interest                                                                     
income

Underwriting and      88       98        118                389       438        
advisory fees

Deposit and          215      223        194                824       775        
payment fees

Credit fees          117      118        111                462       418        

Card fees            150      151        152                599       619        

Investment           126      119        110                474       424        
management and
custodial fees

Mutual fund fees     267      258        230              1,014       880        

Insurance fees,       93       94         92                358       335        
net of claims

Commissions on        98      106         98                412       402        
securities
transactions

Trading income        (9)      24        (17)                28        53        
(loss)

AFS securities         9       48         61                212       264        
gains, net

FVO gains              6        2         (4)                 5       (32)       
(losses), net

Foreign exchange       5       18          9                 44        91        
other than
trading

Income from           45       40         44                139       160        
equity-accounted
associates and
joint ventures

Other                 96       81        113                368       396        
                   1,306    1,380      1,311              5,328     5,223        

Total revenue      3,200    3,263      3,159             12,783    12,549        

Provision for        271      320        328              1,121     1,291        
credit losses

Non-interest                                                                     
expenses

Employee           1,055    1,079      1,001              4,253     4,044        
compensation and
benefits

Occupancy costs      181      171        182                700       697        

Computer,            285      269        266              1,052     1,022        
software and
office equipment

Communications        75       75         74                307       304        

Advertising and       79       59         69                236       233        
business
development

Professional          59       45         45                179       174        
fees

Business and          16       15         12                 62        50        
capital taxes

Other                182      161        180                825       691        
                   1,932    1,874      1,829              7,614     7,215        

Income before        997    1,069      1,002              4,048     4,043        
income taxes

Income taxes         161      179        150                648       704        

Net income       $   836  $   890    $   852           $  3,400  $  3,339        

Net income       $    (7) $     -    $     2           $     (3) $      8        
(loss)
attributable to
non-controlling
interests

  Preferred      $    24  $    25    $    29           $     99  $    158        
  shareholders

  Common             819      865        821              3,304     3,173        
  shareholders

Net income       $   843  $   890    $   850           $  3,403  $  3,331        
attributable to
equity
shareholders

Earnings per                                                                     
share (in
dollars)

  Basic          $  2.05  $  2.16    $  2.02           $   8.24  $   7.86        

  Diluted           2.05     2.16       2.02               8.23      7.85        

Dividends per       0.96     0.96       0.94               3.80      3.64        
common share (in
dollars)

(1) Certain information has been reclassified to conform
    to the presentation adopted in the current period.

Consolidated statement of comprehensive income
                                                   
                                For the three          For the twelve  
                                 months ended            months ended  
                       2013    2013      2012          2013      2012  

$ millions             Oct.    Jul.   Oct. 31       Oct. 31   Oct. 31  
                         31      31

Net income           $ 836  $  890  $    852      $  3,400  $  3,339   

Other                                                                  
comprehensive
income (OCI), net
of tax, that is
subject to
subsequent

  reclassification                                                     
  to net income

  Net foreign                                                          
  currency
  translation
  adjustments

  Net gains            143     165        36           369        65   
  (losses) on
  investments in
  foreign
  operations

  Net (gains)            -       -         -             -         1   
  losses on
  investments in
  foreign
  operations
  reclassified to
  net income

  Net gains            (93)   (102)      (50)         (237)      (65)  
  (losses) on
  hedges of
  investments in
  foreign
  operations

  Net (gains)                                                          
  losses on hedges
  of investments
  in foreign
  operations
  reclassified to
    net income           -       -         -             -        (1)  
                        50      63       (14)          132         -   

  Net change in                                                        
  AFS securities

  Net gains             74    (114)       36            57       208   
  (losses) on AFS
  securities

  Net (gains)           (7)    (36)      (48)         (155)     (196)  
  losses on AFS
  securities
  reclassified to
  net income
                        67    (150)      (12)          (98)       12   

  Net change in                                                        
  cash flow hedges

  Net gains             60       7        21            62        20   
  (losses) on
  derivatives
  designated as
  cash flow hedges

  Net (gains)                                                          
  losses on
  derivatives
  designated as
  cash flow hedges
  reclassified to
    net income         (47)    (11)      (15)          (51)      (13)  
                        13      (4)        6            11         7   

Total OCI              130     (91)      (20)           45        19   

Comprehensive        $ 966  $  799  $    832      $  3,445  $  3,358   
income

Comprehensive        $  (7) $    -  $      2      $     (3) $      8   
income (loss)
attributable to
non-controlling
interests

  Preferred          $  24  $   25  $     29      $     99  $    158   
  shareholders

  Common               949     774       801         3,349     3,192   
  shareholders

Comprehensive        $ 973  $  799  $    830      $  3,448  $  3,350   
income
attributable to
equity
shareholders
                                                                       
                                                                       
                                For the three          For the twelve  
                                 months ended            months ended  
                       2013    2013      2012          2013      2012  

$ millions             Oct.    Jul.   Oct. 31       Oct. 31   Oct. 31  
                         31      31

Income tax                                                             
(expense) benefit

  Net foreign                                                          
  currency
  translation
  adjustments

  Net gains          $  (9) $  (12) $     (9)     $    (26) $    (10)  
  (losses) on
  investments in
  foreign
  operations

  Net gains             19      17         7            44        11   
  (losses) on
  hedges of
  investments in
  foreign
  operations
                        10       5        (2)           18         1   

  Net change in                                                        
  AFS securities

  Net gains            (14)     (6)       (7)          (51)      (49)  
  (losses) on AFS
  securities

  Net (gains)            2      13        18            57        65   
  losses on AFS
  securities
  reclassified to
  net income
                       (12)      7        11             6        16   

  Net change in                                                        
  cash flow hedges

  Net gains            (22)     (2)       (4)          (22)       (4)  
  (losses) on
  derivatives
  designated as
  cash flow hedges

  Net (gains)                                                          
  losses on
  derivatives
  designated as
  cash flow hedges
  reclassified to
    net income          17       4         5            18         4   
                        (5)      2         1            (4)        -   
                     $  (7) $   14  $     10      $     20  $     17   

Consolidated statement of changes in equity
                                                                         
                                  For the three          For the twelve  
                                   months ended            months ended  
                       2013      2013      2012          2013      2012  

$ millions          Oct. 31   Jul. 31   Oct. 31       Oct. 31   Oct. 31  

Preferred                                                                
shares

Balance at        $  1,706  $  1,706  $  2,006      $  1,706  $  2,756   
beginning of
period

Redemption of            -         -      (300)            -    (1,050)  
preferred
shares

Balance at end    $  1,706  $  1,706  $  1,706      $  1,706  $  1,706   
of period

Common shares                                                            

Balance at        $  7,757  $  7,743  $  7,744      $  7,769  $  7,376   
beginning of
period

Issue of common         14        15        64           114       430   
shares

Purchase of            (18)        -       (39)         (130)      (39)  
common shares
for
cancellation

Treasury shares          -        (1)        -             -         2   

Balance at end    $  7,753  $  7,757  $  7,769      $  7,753  $  7,769   
of period

Contributed                                                              
surplus

Balance at        $     82  $     80  $     87      $     85  $     93   
beginning of
period

Stock option             1         2         1             5         7   
expense

Stock options           (2)        -        (3)           (9)      (15)  
exercised

Other                    1         -         -             1         -   

Balance at end    $     82  $     82  $     85      $     82  $     85   
of period

Retained                                                                 
earnings

Balance at        $  8,026  $  7,545  $  6,719      $  7,042  $  5,457   
beginning of
period

Net income             843       890       850         3,403     3,331   
attributable to
equity
shareholders

Dividends                                                                

  Preferred            (24)      (25)      (29)          (99)     (128)  

  Common              (384)     (384)     (381)       (1,523)   (1,470)  

Premium on               -         -         -             -       (30)  
redemption of
preferred
shares

Premium on             (59)        -      (118)         (422)     (118)  
purchase of
common shares
for
cancellation

Other                    -         -         1             1         -   

Balance at end    $  8,402  $  8,026  $  7,042      $  8,402  $  7,042   
of period

AOCI, net of                                                             
tax

  Net foreign                                                            
  currency
  translation
  adjustments

  Balance at      $     (6) $    (69) $    (74)     $    (88) $    (88)  
  beginning of
  period

  Net change in         50        63       (14)          132         -   
  foreign
  currency
  translation
  adjustments

  Balance at      $     44  $     (6) $    (88)     $     44  $    (88)  
  end of period

  Net gains                                                              
  (losses) on
  AFS
  securities

  Balance at      $    185  $    335  $    362      $    350  $    338   
  beginning of
  period

  Net change in         67      (150)      (12)          (98)       12   
  AFS
  securities

  Balance at      $    252  $    185  $    350      $    252  $    350   
  end of period

  Net gains                                                              
  (losses) on
  cash flow
  hedges

  Balance at      $      -  $      4  $     (4)     $      2  $     (5)  
  beginning of
  period

  Net change in         13        (4)        6            11         7   
  cash flow
  hedges

  Balance at      $     13  $      -  $      2      $     13  $      2   
  end of period

Total AOCI, net   $    309  $    179  $    264      $    309  $    264   
of tax

Non-controlling                                                          
interests

Balance at        $    168  $    168  $    167      $    172  $    164   
beginning of
period

Net income              (7)        -         2            (3)        8   
(loss)
attributable to
non-controlling
interests

Dividends                -        (2)        -            (4)       (5)  

Other                   16         2         3            12         5   

Balance at end    $    177  $    168  $    172      $    177  $    172   
of period

Equity at end     $ 18,429  $ 17,918  $ 17,038      $ 18,429  $ 17,038   
of period

Consolidated statement of cash flows
                                                                                      
                                             For the three            For the twelve  
                                              months ended              months ended  
                             2013      2013           2012           2013       2012  


                                           (                                      
$ millions                Oct. 31   Jul. 31 (1))   Oct. 31        Oct. 31    Oct. 31 
Cash flows provided                                                                   
by (used in)
operating activities                                                                 
Net income              $    836  $    890       $    852      $   3,400  $   3,339    
Adjustments to                                                                        
reconcile net income
to cash flows
provided by (used in)
operating activities:                                                                
Provision for              271                      328          1,121      1,291   
  credit losses                        320                                  
Amortization and            95                       83            354        357   
  impairment((2))                       91                                  
Stock option                 1                        1              5          7   
  expense                                2                                  
Deferred income            (14)                      15             71        167   
  taxes                                  4                                  
AFS securities              (9)                     (61)          (212)      (264)  
  gains, net                           (48)                                 
Net (losses (gains)          1                      (14)            (2)       (17)  
  on disposal of
  land, buildings and
  equipment                              -                                  
Other non-cash            (128)                    (102)          (336)        91   
  items, net                           (93)                                 
Net changes in                                                                      
  operating assets
  and liabilities                                                           


                                                                                      
    Interest-bearing                                4,366                     1,547   
    deposits with
    banks                  1,734    (1,538)                       (2,054)
                                                                                      
    Loans, net of                                     854                    (5,023)  
    repayments            (3,393)   (1,399)                       (5,889)
    Deposits, net of                               (4,592)                   11,339   
    withdrawals            1,887     4,630                        13,459 
    Obligations                                     1,091                     2,719   
    related to
    securities sold
    short                     76      (315)                          292 
    Accrued interest                                  (81)                      (22)  
    receivable               (51)       58                            44 
    Accrued interest                                  279                       (95)  
    payable                  260      (276)                         (147)
    Derivative assets        644     4,701          1,721          6,917        146   
                                                                                      
    Derivative                                     (1,986)                      (54)  
    liabilities             (636)   (4,570)                       (7,241)
    Trading                                        (1,183)                   (7,617)  
    securities            (1,182)    2,920                        (3,738)
    FVO securities            (1)       22             20             17        160   
    Other FVO assets                                  (95)                     (639)  
    and liabilities           69        66                           349 
    Current income                                    (22)                     (749)  
    taxes                     29       (24)                         (532)
    Cash collateral                                  (691)                   (1,257)  
    on securities        
    lent                     399       119                           506 
    Obligations                                    (1,896)                   (1,933)  
    related to
    securities sold
    under repurchase
    agreements            (1,461)      646                        (1,744)
    Cash collateral                                   679                    (1,473)  
    on securities
    borrowed               1,001      (711)                         (106)
                                                                                      
    Securities                                      3,842                       516   
    purchased under
    resale agreements      1,768    (4,338)                         (186)
    Other, net               747      (604)          (263)           838       (916)  
                                                                                      
                           2,943       553          3,145          5,186      1,620 

Cash flows provided                                                                   
by (used in)
financing activities                                                                

Redemption/repurchase                                                                 
of subordinated
indebtedness                   -      (550)             -           (561)      (272)

Redemption of                                                                         
preferred shares               -         -           (300)             -     (1,080)

Issue of common                                                                       
shares for cash               12        15             61            105        415 

Purchase of common                                                                    
shares for
cancellation                 (77)        -           (157)          (552)      (157)

Net proceeds from                                                                     
treasury shares                -        (1)             -              -          2 

Dividends paid              (408)     (409)          (410)        (1,622)    (1,598)  
                            (473)     (945)          (806)        (2,630)    (2,690)  

Cash flows provided                                                                   
by (used in)
investing activities                                                                
                                                                           

Purchase of AFS                                                                       
securities                (7,821)   (6,894)        (7,691)       (27,451)   (38,537)

Proceeds from sale of                                                                 
AFS securities             2,674     4,408          3,608         14,094     23,815 

Proceeds from                                                                         
maturity of AFS
securities                 2,516     2,780          2,147         10,550     17,421 

Net cash used in                                                                      
acquisitions                   -         -            (30)             -       (235)

Net cash provided by                                                                  
dispositions                   3         5             42             49         42 

Net purchase of land,                                                                 
buildings and
equipment                   (110)      (52)          (117)          (248)      (309)
                          (2,738)      247         (2,041)        (3,006)     2,197   

Effect of exchange                                                                    
rate changes on cash
and
non-interest-bearing
deposits with

banks                         17        21             (4)            48          5 

Net increase                                                                          
(decrease) in cash
and
non-interest-bearing
deposits with banks                                                                 
    during period           (251)     (124)           294           (402)     1,132   

Cash and                                                                              
non-interest-bearing
deposits with banks
at beginning of
period                     2,462     2,586          2,319          2,613      1,481 

Cash and                          $                                       $           
non-interest-bearing
deposits with banks
at end of period        $  2,211     2,462       $  2,613      $   2,211      2,613 

Cash interest paid      $    805  $  1,375       $    842      $   4,503  $   4,676   

Cash income taxes                                                                     
paid                         146       199            157          1,109      1,286 

Cash interest and                                                                     
dividends received         2,908     3,040          3,056         11,855     12,053 

(1) Certain amounts have been reclassified to conform to  
    the presentation adopted in the current period.

(2)  Comprises amortization and impairment of buildings,  
       furniture, equipment, leasehold improvements, and
                   software and other intangible assets.

Non-GAAP measures
We use a number of financial measures to assess the performance of our 
business lines. Some measures are calculated in accordance with International 
Financial Reporting Standards (IFRS or GAAP), while other measures do not have 
a standardized meaning under GAAP, and accordingly, these measures may not be 
comparable to similar measures used by other companies. Investors may find 
these non-GAAP measures useful in analyzing financial performance. For a more 
detailed discussion, see the "Non-GAAP measures" section of CIBC's 2013 Annual 
Report.

The following table provides a quarterly reconciliation of non-GAAP to GAAP 
measures related to CIBC on a consolidated basis. For an annual reconciliation 
of non-GAAP to GAAP measures, see the "Non-GAAP measures" section of CIBC's 
2013 Annual Report.
                                       2013         2013         2012  

$ millions, as at or for
three months ended                  Oct. 31      Jul. 31      Oct. 31  

Reported and adjusted
diluted EPS                                                            

Reported net income
attributable to diluted
common shareholders           A  $     819    $     865    $     821   

After-tax impact of items
of note                                 69           53            6   

Adjusted net income
attributable to diluted
common shareholders( (1))     B  $     888    $     918    $     827   

Diluted weighted-average
common shares outstanding
(thousands)                   C    400,255      400,258      405,844   

Reported diluted EPS ($)    A/C  $    2.05    $    2.16    $    2.02   

Adjusted diluted EPS ($) (
(1))                        B/C       2.22         2.29         2.04   

Reported and adjusted
efficiency ratio                                                       

Reported total revenue        D  $   3,200    $   3,263    $   3,159   

Pre-tax impact of items of
note                                    20            7          (52)  

TEB                                     78           90           92   

Adjusted total revenue (
(1))                          E  $   3,298    $   3,360    $   3,199   

Reported non-interest
expenses                      F  $   1,932    $   1,874    $   1,829   

Pre-tax impact of items of
note                                   (70)          (6)         (21)  

Adjusted non-interest
expenses ((1))                G  $   1,862    $   1,868    $   1,808   

Reported efficiency ratio   F/D       60.4  %      57.4  %      57.9  %

Adjusted efficiency ratio
((1))                       G/E       56.4  %      55.6  %      56.5  %

Reported and adjusted
dividend payout ratio                                                  

Reported net income
attributable to common
shareholders                  H  $     819    $     865    $     821   

After-tax impact of items
of note                                 69           53            6   

Adjusted net income
attributable to common
shareholders( (1))            I  $     888    $     918    $     827   

Dividends paid to common
shareholders                  J  $     384    $     384    $     381   

Reported dividend payout
ratio                       J/H       46.9  %      44.4  %      46.4  %

Adjusted dividend payout
ratio ((1))                 J/I       43.2  %      41.8  %      46.1  %

Reported and adjusted
return on common
shareholders' equity                                                   

Average common
shareholders' equity          L  $  16,355    $  15,921    $  15,077   

Reported return on common
shareholders' equity (%)   I / L      19.9  %      21.6  %      21.7  %

Adjusted return on common
shareholders' equity (%) (
(1))                       J / L      21.5  %      22.9  %      21.8  %

Reported and adjusted
effective tax                                                          

Reported income before
income taxes                  M  $     997    $   1,069    $   1,002   

Pre-tax impact of items of
note                                    90           71           22   

Adjusted income before
income taxes ((1))            N  $   1,087    $   1,140    $   1,024   

Reported income taxes         O  $     161    $     179    $     150   

Tax impact of items of
note                                    21           18           16   

Adjusted income taxes (
(1))                          P  $     182    $     197    $     166   

Reported effective tax
rate (%)                   O / M      16.2  %      16.7  %      15.0  %

Adjusted effective tax
rate (%) ((1))             P / N      16.8  %      17.2  %      16.2  %

(1) Non-GAAP
measure.
                      Retail and                                      
                        Business     Wealth Wholesale Corporate   CIBC

$ millions, for the      Banking Management   Banking
three months ended                                    and Other  Total

Oct. 31   Reported    $
          net income
          (loss)            610  $     104  $    210  $    (88) $ 836 

2013      After-tax    
          impact of
          items of
          note( (1))         19          2         8        40     69 
          Adjusted
          net income
          (loss)(
          (2))        $     629  $     106  $    218  $    (48) $ 905 

Jul. 31   Reported    $
          net income
          (loss)            638  $     102  $    217  $    (67) $ 890 

2013      After-tax    
          impact of
          items of
          note( (1))         16          1         6        30     53 
          Adjusted
          net income
          (loss)(
          (2))        $     654  $     103  $    223  $    (37) $ 943 

Oct. 31   Reported    $
          net income        569  $      84  $    193  $      6  $ 852 

2012      After-tax    
          impact of
          items of
          note( (1))          2          -        (1)        5      6 
          Adjusted
          net income
          ( (2))      $     571  $      84  $    192  $     11  $ 858 

(1) Reflects impact of items of note under "Financial results" section.

(2) Non-GAAP measure.

Basis of presentation
The interim consolidated financial information in this news release is 
prepared in accordance with IFRS and is unaudited whereas the annual 
consolidated financial information is derived from audited financial 
statements. These interim financial statements follow the same accounting 
policies and methods of application as CIBC's consolidated financial 
statements for the year ended October 31, 2013.

_______________________________________________

The information below forms a part of this press release.

Nothing in CIBC's corporate website (www.cibc.com) should be considered 
incorporated herein by reference.

(The board of directors of CIBC reviewed this press release prior to it being 
issued.)

A NOTE ABOUT FORWARD-LOOKING STATEMENTS
From time to time, we make written or oral forward-looking statements within 
the meaning of certain securities laws, including in this press release, in 
other filings with Canadian securities regulators or the U.S. Securities and 
Exchange Commission and in other communications. All such statements are made 
pursuant to the "safe harbour" provisions of, and are intended to be 
forward-looking statements under, applicable Canadian and U.S. securities 
legislation, including the U.S. Private Securities Litigation Reform Act of 
1995. These statements include, but are not limited to, statements made in the 
"Performance against Objectives", "Core business performance", "Strong 
Fundamentals" and "Making a Difference in Our Communities" sections of this 
press release, and other statements we make about our operations, business 
lines, financial condition, risk management, priorities, targets, ongoing 
objectives, strategies and outlook for 2014 and subsequent periods. 
Forward-looking statements are typically identified by the words "believe", 
"expect", "anticipate", "intend", "estimate", "forecast", target", "objective" 
and other similar expressions or future or conditional verbs such as "will", 
"should", "would" and "could". By their nature, these statements require us to 
make assumptions and are subject to inherent risks and uncertainties that may 
be general or specific. A variety of factors, many of which are beyond our 
control, affect our operations, performance and results and could cause actual 
results to differ materially from the expectations expressed in any of our 
forward-looking statements. These factors include: credit, market, liquidity, 
strategic, insurance, operational, reputation and legal, regulatory and 
environmental risk; the effectiveness and adequacy of our risk management 
models and valuation models and processes; legislative or regulatory 
developments in the jurisdictions where we operate, including the Dodd-Frank 
Wall Street Reform and Consumer Protection Act and the regulations issued and 
to be issued thereunder, the Basel Committee on Banking Supervision's (BCBS) 
global standards for capital and liquidity reform and those relating to the 
payments system in Canada; amendments to, and interpretations of, risk-based 
capital guidelines and reporting instructions, and interest rate and liquidity 
regulatory guidance; the resolution of legal and regulatory proceedings and 
related matters; the effect of changes to accounting standards, rules and 
interpretations; changes in our estimates of reserves and allowances; changes 
in tax laws; political conditions and developments; the possible effect on our 
business of international conflicts and the war on terror; natural disasters, 
public health emergencies, disruptions to public infrastructure and other 
catastrophic events; reliance on third parties to provide components of our 
business infrastructure; potential disruptions to our information technology 
systems and services, including the evolving risk of cyber attack; losses 
incurred as a result of internal or external fraud; the accuracy and 
completeness of information provided to us concerning clients and 
counterparties; the failure of third parties to comply with their obligations 
to us and our affiliates; intensifying competition from established 
competitors and new entrants in the financial services industry; technological 
change; global capital market activity; changes in monetary and economic 
policy; currency value and interest rate fluctuations; general economic 
conditions worldwide, as well as in Canada, the U.S. and other countries where 
we have operations, including increasing Canadian household debt levels and 
Europe's sovereign debt crisis; our success in developing and introducing new 
products and services, expanding existing distribution channels, developing 
new distribution channels and realizing increased revenue from these channels; 
changes in client spending and saving habits; our ability to attract and 
retain key employees and executives; our ability to successfully execute our 
strategies and complete and integrate acquisitions and joint ventures; and our 
ability to anticipate and manage the risks associated with these factors. This 
list is not exhaustive of the factors that may affect any of our 
forward-looking statements. These and other factors should be considered 
carefully and readers should not place undue reliance on our forward-looking 
statements. We do not undertake to update any forward-looking statement that 
is contained in this press release or in other communications except as 
required by law.







SOURCE  CIBC 
 Investor and analyst inquiries should be directed to Geoff Weiss, Senior  
Vice-President, Investor Relations, at 416-980-5093. Media inquiries  should 
be directed to Kevin Dove, Senior Director, Communications and  Public 
Affairs, at 416-980-8835, or to Mary Lou Frazer, Senior  Director, Investor & 
Financial Communications, at 416-980-4111. 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/December2013/05/c5452.html 
CO: CIBC - Investor Relations
ST: Ontario
NI: FIN ERN  
-0- Dec/05/2013 10:20 GMT