CIBC
The current form of the CIBC Bank was created by the largest merger of two financial corporations in Canadian history. In 1961, the Imperial Bank of Canada and the Canadian Bank of Commerce merged to form the current corporation. This is the largest transaction that formed CIBC, but the corporation is actually made up of 14 different banks. Large amounts of amalgamation have created the financial industry as it is today in Canada, and the CIBC is no exception. Although a large number of different entities have come together to form the bank in its current state, it has a proud history that goes back as far as the creation of the Dominion of Canada.
CIBC has become an important player in global banking. Total yearly revenue is just short of $10 billion, and the bank’s total market capitalization is over $23 billion. It employs more than 41,000 people worldwide in more than 1,000 branches.
Spotlight on CIBC
About CIBC
CIBC is the bank of choice for more than 11 million Canadian clients, including personal investors and businesses. It has become entrenched in the Canadian financial industry because of its wide range of personal and business products. With CIBC, people can take advantage of the access to products via the bank's suite of online banking tools. Global Finance magazine named CIBC the best consumer Internet bank because of the availability of investments, credit vehicles and savings products through the bank's highly functional site.
The list of awards won by CIBC is long, and includes awards for corporate philanthropy, climate disclosure and corporate citizenship. The bank has been recognized as one of the most sustainable businesses as a member of the Dow Jones Sustainability Index. CIBC is one of only 11 Canadian institutions to be a part of the index, and one of only 25 worldwide.
The bank is essentially broken up into two major divisions: CIBC Retail Markets—which services personal banking customers, provides wealth management and business services—and the wholesale banking division, which handles institutional, corporate and government clients. From this group, CIBC offers credit products, research services and investment banking.
You can learn more about CIBC by checking out the bank's corporate website. It gives great detail about the history of the company, its philosophy of corporate responsibility and more detailed information about its position in both the Canadian and global market. You can contact a representative whether you have questions about a visa card application to the bank, student loans, personal chequing or a range of retirement investment options. You can also learn about CIBC's online banking options, which are enjoyed by millions of Canadians.