The Globe and Mail reports in its Friday edition that CIBC's share price slumped Thursday, down 5.4 per cent in Toronto. The Globe's Stefanie Marotta writes the bank's stock has outperformed most of its peers in the past year, climbing 60 per cent. National Bank of Canada analyst Gabriel Dechaine attributed the drop in part to the bank's profit margin on lending, which rose 17 basis points year-over-year, but fell one basis point from the previous quarter, tempering the improvement the bank has posted in recent years. While CIBC outperformed peers, it did not surpass expectations for profit margins on lending. Mr. Dechaine also expects margins to flatten amid rising competition for mortgages and deposits. CIBC chief financial officer Robert Sedran said the bank has reported strong margin progression in recent quarters and it is confident of its strategy. "Competition in Canada is always fairly intense," Mr. Sedran told The Globe. "When we think about our strategy, we're doing what's right by our clients, and we're not competing in specific areas or specific products with any attempt to gain market share. We are looking to deepen our relationships with our clients, and we will continue to grow that client franchise."