Sign in

    Shalabh Garg • Veritas Investment Research Corporation

    Shalabh Garg's questions to Canadian Imperial Bank of Commerce (CM) leadership

    Shalabh Garg's questions to Canadian Imperial Bank of Commerce (CM) leadership • Q2 2025

    Question

    Shalabh Garg from Veritas Investment Research Corporation asked about the risk mitigation activities in CIBC's credit card portfolio and whether these actions were linked to the year-over-year decline in reported card fees.

    Answer

    Frank Guse, Senior EVP & Chief Risk Officer, confirmed that risk mitigation strategies are constantly being implemented but are not related to the fee decline. Hratch Panossian, Group Head of Personal & Business Banking, clarified that the fee movement was mostly 'noise' from contra-revenues for loyalty programs and that the underlying portfolio momentum remains strong.

    Ask Fintool Equity Research AI

    Shalabh Garg's questions to Canadian Imperial Bank of Commerce (CM) leadership • Q2 2025

    Question

    Shalabh Garg inquired about the risk mitigation activities undertaken in CIBC's credit card portfolio and asked if these actions were linked to the year-over-year decline in card fees.

    Answer

    Frank Guse, Chief Risk Officer, confirmed that risk mitigation strategies, such as actions on pre-delinquent clients, have been ongoing for over a year but are not related to fee changes. Hratch Panossian, Head of Personal and Business Banking Canada, explained that the reported decline in card fees was due to 'noise' from contra-revenues like loyalty points programs and does not reflect the underlying strong momentum of the portfolio.

    Ask Fintool Equity Research AI

    Shalabh Garg's questions to Canadian Imperial Bank of Commerce (CM) leadership • Q2 2025

    Question

    Shalabh Garg of Veritas Investment Research asked about risk mitigation activities in CIBC's credit card portfolio and whether they were connected to the year-over-year decline in card fees.

    Answer

    Chief Risk Officer Frank Guse confirmed that ongoing risk mitigation actions are in place but are not related to fee performance. Hratch Panossian, Head of Personal and Business Banking Canada, clarified that the decline in card fees was due to 'noise' from items like contra-revenues for loyalty points and was not indicative of a negative trend in the underlying business.

    Ask Fintool Equity Research AI