Question · Q4 2025
John Aitken asked for a deeper look into CIBC's expenses, specifically inquiring which segments are expected to have greater or lesser operating leverage in 2026 given ongoing investments in platforms and technology, and whether overall technology spend is accelerating, leveling off, or staying the same.
Answer
Rob Sedran (CFO, CIBC) explained that while all businesses are asked for positive operating leverage, Capital Markets might find it harder in 2026 due to its strong performance in 2025, emphasizing management at the all-bank level. Regarding technology spend, he stated it needs to continue to grow, requiring ongoing investment in AI and workforce reshaping, especially with a robust revenue environment, assuring that investments are smart and purposeful.
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