CIBC's Q1 Provision For Credit Losses C$514M, Up C$76M From The Same Quarter Last Year

Credit quality

Provision for credit losses was $514 million, up $76 million from the same quarter last year. Provision for credit losses on performing loans was up mainly due to a lower provision reversal in Canadian Personal and Business Banking, partially offset by lower provisions in U.S. Commercial Banking and Wealth Management. Provision for credit losses on impaired loans was up mainly due to higher provisions in U.S. Commercial Banking and Wealth Management, and Canadian Personal and Business Banking, partially offset by lower provisions in Canadian Commercial Banking and Wealth Management.