Another Canadian bank has reported its financial results for Q1 2015.

Canadian Imperial Bank of Commerce has today reported that net income from wealth management was $128 million for the first quarter of 2015, up $14 million, or 12 per cent, year-on-year.

Wealth management revenue of $619 million was up $117 million - or 23 per cent - compared with the first quarter a year ago, primarily due to the acquisition of Atlantic Trust Private Wealth Management.

Additionally, higher assets under management were driven by market appreciation and net sales of long-term mutual funds, and higher fee-based revenue, the firm said.

CIBC as a group said first quarter net income was $923 million, compared with $1,177 million a year ago and $811 million for the prior quarter. Adjusted net income was $956 million, up slightly from $951 million a year ago and $911 million in Q4 2014.

Also this week, Canada's RBC and BMO posted their first quarter 2015 financial results - see here and here.

According to a report in the Wall Street Journal this week, regulators are “scrutinizing acquisitions” by CIBC after finding fault with its risk management, according to “people familiar with the matter.” The bank was reportedly warned by regulators about two years ago that issues with its computer models were causing it to underestimate risk across its business, the WSJ said, citing the individuals.

Family Wealth Report has asked CIBC about the matter and will update in due course.