Canadian Imperial Bank of Commerce (CIBC) earned a fourth-quarter (Q4 20180 profit of $1.27 billion, up from $1.16 billion in Q4 2017, the Toronto-based bank announced Thursday.

The Toronto-based bank says the profit amounted to $2.80 per diluted share for the quarter ended Oct. 31, up from $2.59 per diluted share a year ago.

Revenue totalled $4.45 billion, up from $4.27 billion in the bank’s Q4 2017.

Provisions for credit losses amounted to $264 million, up from $229 million in Q4 2017

On an adjusted basis, CIBC says it earned $3 per diluted share in the quarter, up from an adjusted profit of $2.81 per diluted share in Q4 2017.

Analysts on average had expected a profit of $3.04 for the quarter, according to Thomson Reuters Eikon.