The total revenue for the fourth quarter of 2011 was C$3.20bn, compared to C$3.25bn for the corresponding period a year ago.

Retail and business banking activities reported a net income of C$2.1bn in 2011, compared to C$1.8bn for the same period in the previous year.

Wealth management business reported a net income of C$279m in 2011, compared to C$225m for the same period in the last year.

CIBC president and CEO Gerry McCaughey said that the results across their businesses in 2011 reflect a strong focus on their clients as well as their underlying business fundamentals.

"Our financial results reflect our first principle and strategic imperative which is to be a lower risk bank targeting value creation for our shareholders by delivering consistent, sustainable earnings over the long term," added McCaughey.