CIBC Q3 2008 Earnings

RBC Capital Markets, 28 August 2008CIBC's GAAP EPS of $0.11 were much better than our $(0.81) estimate, but core cash EPS of $1.65 was short of our estimate of $1.77.� Writedowns of $885 million pre-tax on structured credit-related activities were less than our $1.5 billion estimate.� The 9.8% Tier 1 capital ratio was in line with our estimate, as smaller than expected writedowns were offset by