Posted AT 2:19 PM EST on 28/02/08
CIBC tables a $1.4-billion loss
Canadian Imperial Bank of Commerce reported a first-quarter loss of $1.456-billion on Thursday, compared to a profit of $770-million a year earlier, as the bank took a slew of charges related to its subprime mortgage exposure.
The writedowns and paper losses included a $2.28-billion (pre-tax) charge because of the bank's exposure to troubled bond insurer ACA Financial Guaranty Corp.
The full text of this article has 769 words.
To continue reading this article, you will need to purchase this article.
Already have a member account? Login now
Pay-Per-View Offers To read the complete article, select one of the following options
Purchasing from globeandmail.com is quick and secure.
| Market | Change | Value |
|---|---|---|
| Data delayed 15 minutes | ||
| S&P/TSX | -239.14 | 8,057.82 |
| DJIA | -215.45 | 8,376.24 |
| S&P 500 | -25.52 | 845.22 |
| Nasdaq | -46.82 | 1,445.56 |
| Stock Profile | Sponsored by: |
|---|---|
 |
Video:
|
Technology 
- Finding the perfect gadget
- Need a present for mom, dad, son, daughter, friend, colleague?
MOST POPULAR
Most Popular
| Rank | Headline |
|---|---|
| 1. | Stuck on the market 10:04 PM
|
| 2. | Chrysler Canada warns of 'slow burn' 6:52 PM
|
| 3. | Oil price sets stage for mergers 8:32 PM
|
| 4. | Loonie dives as Parliament suspended 4:41 PM
|
| 5. | Statoil deals new blow to oil sands 8:08 PM
|
| 6. | Falling oil pulls TSX lower 5:07 PM
|
| 7. | ‘We made mistakes,' Wagoner says 2:50 PM
|
| 8. | Oil tumbles below $44 a barrel 2:43 PM
|
| 9. | Richard Branson on taking big leaps 13/11/08 4:22 PM
|
| 10. | BCE shares rise on deal talk 3:54 PM
|
58Adhocracy
- Is it too early for a beer?
- Plus: Diesel Makes a Meat Puppet
The Law page
- Did BCE wimp out?
- Jon Huntsman can teach a thing or two about takeover contracts
ROB Magazine
- Ted Rogers's last interview
- The cable baron talked to Jennifer Wells about "moving toward stopping"
Nobody's Business
- Miami heat doesn't faze Scotiabank
- Plus: A different bailout
KONRAD YAKABUSKIAbitibi axes Nfld. paper mill
NORVAL SCOTT, ANDREW WILLIS, ERIC REGULYNexen looks to ward off bids
ERIC REGULYMerkel's Germany: From star to stuck
TIM CESTNICKThe finer points of income splitting