Canadian Imperial Bank of Commerce, Canada's fifth-largest bank, said first-quarter profits more than quadrupled from a year earlier after it reversed losses from trading.

Net income for the period ended Jan. 31 was C$652 million ($615 million), the Toronto company said Thursday. That compared with C$147 million ($138.7 million) a year earlier, when writedowns pared earnings. Revenue rose 51%, to C$3.06 billion ($2.89 billion).

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