Canadian Imperial Bank of Commerce (CIBC) history, profile and corporate video
The Canadian Imperial Bank of Commerce (CIBC) is a Canadian financial services company headquartered at Commerce Court in Toronto, Ontario, Canada. It was formed on June 1, 1961, through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada.
Canadian Bank of Commerce
The Canadian Bank of Commerce was opened in Toronto on May 15, 1867. It was founded by William McMaster as the competition for the Bank of Montreal.
Imperial Bank of Canada
The Imperial Bank of Canada was opened in Toronto on March 18, 1875. It was founded by the former Commerce Vice-president Henry Stark Howland. The Imperial Bank of Canada was opened in Toronto on March 18, 1875. It was founded by the former Commerce Vice-president Henry Stark Howland.
Some of the most important acquisitions the company has made throughout its long history involve the following institutions: Wood Gundy (1988), President’s Choice Financial (1998; Simplii Financial from 2017), FirstCaribbean International Bank (2006), Atlantic Trust (2013), or Privatebancorp (2016, later renamed CIBC Bank USA).
The company operates through the following business segments: Personal Banking, Business, and Commercial.
Personal Banking
The Personal Banking segment provides bank accounts, savings, credit cards, mortgages, loans, investments, mutual funds, retirement plans, insurances, and others.
Business
The Business segment involves business accounts, cash management, credit cards, loans and lines of credit, government-supported programs, investment solutions, retirement planning, franchise financing, agriculture, and others.
Commercial
The Commercial segment covers a wide range of business solutions, such as: business investments, transitioning your business, global solutions, wealth management, commercial mortgages, credit cards, or managing and paying employees.
With more than 45 000 employees, the Canadian Imperial Bank of Commerce (CIBC) is considered one of the biggest banks in Canada, and one of the two major banks originally founded in Toronto alongside Toronto-Dominion Bank. According to Forbes, it is considered one of the top 2000 largest public companies in the world.
*Information from Forbes.com, Wikipedia.org, and ”www.cibc.com/en/”.
**Video published on YouTube by “CIBC“.