Canadian Imperial Eyes Q2 Profit Growth as Brent Slides to $96
CM•CM•CM•CM•Brent crude fell to $96 a barrel as potential US–Iran peace talks could reopen the Strait of Hormuz, adding 4 million barrels and pressuring energy lenders. Canadian Imperial’s Q2 is expected to show profit growth from stronger client activity and loan demand, offset by rising operating costs.
Brent crude for July delivery dropped to around $96 a barrel as reports of a tentative US–Iran interim agreement suggested a reopening of the Strait of Hormuz, which could introduce roughly 4 million barrels into an already tight market. The potential influx is weighing on energy sector lending, raising concerns over loan valuations and collateral for banks with significant oil exposure, including Canadian Imperial.
Canadian Imperial is scheduled to release Q2 results with analysts projecting profit growth driven by stronger client activity across wealth management and corporate banking. Elevated loan demand is expected to bolster net interest income, while rising personnel and technology expenses could constrain overall margin expansion.
