Canadian Imperial Bank of Commerce (NYSE:CM) Q4 2023 Earnings Call Transcript November 30, 2023 7:30 AM ET

Company Participants

Geoff Weiss - SVP, IR

Victor Dodig - President & CEO

Hratch Panossian - CFO

Frank Guse - CRO

Conference Call Participants

Doug Young - Desjardins Capital Markets

Ebrahim Poonawala - Bank of America

Gabriel Dechaine - National Bank Financial

Meny Grauman - Scotiabank

Darko Mihelic - RBC Capital Markets

Lemar Persaud - Cormark Securities

Sohrab Movahedi - BMO Capital Markets

Nigel D’Souza - Veritas Investment Research

Mario Mendonca - TD Securities

Operator

Good morning and welcome to the CIBC Quarterly Financial Results Conference call. Please be advised that this call is being recorded. I would now like to turn the meeting over to Geoff Weiss, Senior Vice President, Investor Relations. Please go ahead, Geoff.

Geoff Weiss

Thank you, and good morning. We will begin this morning's presentation with opening remarks from Victor Dodig, our President and Chief Executive Officer, followed by Hratch Panossian, our Chief Financial Officer, and Frank Goose, our Chief Risk Officer. Also on the call today are a number of our group heads including Shawn Beber, US region; Harry Culham, Capital Markets and Direct Financial Services; and Jon Hountalas, Canadian Banking. They are all available to take questions following the prepared remarks. We do have a hard stop this morning at 8.30. So during the Q&A, please limit your questions to one to ensure you all get a chance to participate. We'll make ourselves available after the call for any follow-ups.

As noted on Slide 2 of our investor presentation, our comments may contain forward-looking statements which involve assumptions and have inherent risks and uncertainties. Actual results may differ materially. With that, I will now turn the call over to Victor.

Victor Dodig

Thank you, Geoff, and good morning, everyone. I realize it's a busy one for all of you. So with that in mind, there are really three key messages I want to leave with you today. The first message is that we made strong progress executing on our strategic growth priorities in 2023, and we delivered solid financial results despite normalizing credit losses. Our solid results are reflected in our healthy net interest margins, our positive operating leverage, and our strong capital liquidity. The second message is that we're advancing our competitive advantages by focusing on four key strategic priorities, which I'll elaborate on in a moment. And the third message is that while global economic growth is expected to continue to slow, our client-focused strategy, our disciplined resource allocation, and our experienced leadership team will deliver profitable growth in fiscal 2024 and beyond.