Canadian Imperial Bank of Commerce

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Canadian Imperial Bank of Commerce

logo
legal form Public Company (Canada)
ISIN CA1360691010
founding 1961
Seat Toronto , Canada
management Victor Dodig ( CEO )
Number of employees 44,000 (2015)
sales CAD 13.9 billion (2015) EUR
9.6 billion
Branch Bank
Website www.cibc.com

Headquarters in the Commerce Court

The Canadian Imperial Bank of Commerce (French: Banque canadienne impériale de commerce ) is the fourth largest bank in Canada . Better known under the acronym CIBC, it has its headquarters in the Commerce Court in Toronto . It is not only represented in Canada, but also in the USA , the Caribbean , Asia and the UK . The bank has 1,000 branches in Canada and operates over 4,000 ATMs. The bank's stock trades on both the Toronto and New York stock exchanges under the symbol CM.

history

CIBC offices in Montréal

The Canadian Imperial Bank of Commerce was formed in 1961 from a merger of the Canadian Bank of Commerce (founded in 1867) and the Imperial Bank of Canada (founded in 1875). With over 1,200 branches in Canada, it was one of the largest banks in Canada.

CIBC was the first Canadian bank to use ATMs for its services in 1969.

In the later 1990s, there were plans to merge with the Toronto-Dominion Bank . The government of Canada, led by then Finance Minister Paul Martin , blocked the merger.

Together with the Canadian food company Loblaw Companies , CIBC launched the online bank President's Choice Financial in 1996 . In 2002 the joint venture already had more than 1 million customers in Canada.

Mergers

In its history, the CIBC has merged with other financial institutions:

  • Wood Gundy Inc. (1988)
  • TAL Private Management (1994)
  • Penfund (1998)

Business areas

  • CIBC Retail Markets
  • CIBC Securities
  • CIBC World Markets
  • CIBC Imperial Service
  • CIBC Wood Gundy

Memberships

CIBC is a member of the Canadian Bankers Association (CBA) and a registered member of Canada Deposit Insurance Corporation (CDIC) , the Canadian Deposit Insurance Agency and a member of Interac.

Web links

Commons : Canadian Imperial Bank of Commerce  - Collection of Images, Videos, and Audio Files

Individual evidence

  1. a b CIBC 2015 Annual Report , accessed January 5, 2016
  2. Converted at the rate on the balance sheet date, October 31, 2015
  3. CIBC 2012 Quickfacts, accessed December 3, 2012