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(Fred Lum/The Globe and Mail)

CIBC sees solid credit card growth after Aeroplan fracas

After a bruising fight over its Aeroplan credit card accounts, Canadian Imperial Bank of Commerce investors couldn’t help but worry that the bank was tripping up.

By selling half its Aeroplan portfolio to TD, CIBC quickly parted ways with a business that contributed roughly 5.5 per cent of its annual earnings. At the very same time, the bank pledged to spend $50-million to market a revamped Aventura travel rewards card, for which success was anything but guaranteed.