Summary: Canadian Imperial Bank of Commerce Mar 12

Standard & Poors, March 2012

Abstract
Predominance of stable, domestic business mix Reduced risk in legacy assets, trading, and lending books Enhanced risk management and focus on domestic-retail banking Diminished U.S. presence compared to domestic peers' Track record of volatile earnings in past decade Market-share maintenance requires investment Standard & Poor's Ratings Services' outlook on Canadian-based Canadian Imperial bank of Commerce (CIBC) is stable, reflecting our belief that CIBC's revised business strategy embraces a lower risk profile than in the past, focusing on the lower-risk, BICRA 1, domestic market while avoiding high-risk activities unrelated to its core banking competencies. The outlook considers our expectation that CIBC's profitability will continue to improve in the near and intermediate time frames as the company focuses on its core commercial...

Companies mentioned in this report are:
- Canadian Imperial Bank of Commerce

Action: Review

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- Canadian Imperial Bank of Commerce

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