Canadian Imperial Bank of Commerce

From Simple English Wikipedia, the free encyclopedia
Jump to navigation Jump to search
Canadian Imperial Bank of Commerce
Public
Traded astsx:CM
nyse:CM
S&P/TSX 60 component
Industry
Predecessors
FoundedJune 1, 1961; 60 years ago (1961-06-01)[1][2][3][4][a]
Headquarters,
Canada
Key people
BrandsCIBC Bank USA
Simplii Financial
Revenue
  • Increase CA$18.6 billion (2019)
  • CA$17.8 billion (2018)[5]
  • Decrease CA$5.1 billion (2019)
  • CA$5.3 billion (2018)[5]
Total assets
  • Increase CA$651.6 billion (2019)
  • CA$597.1 billion (2018)[5]
Total equity
  • Increase CA$38.6 billion (2019)
  • CA$35.1 billion (2018)[5]
Number of employees
  • Increase 45,157 (FTE, 2019)
  • 44,220 (FTE, 2018)[5]
Subsidiaries
  • CIBC Bancorp USA Inc.[5]
  • CIBC Investments (Cayman) Limited[5]
  • CIBC Cayman Holdings Limited[5]
  • CIBC Trust Corporation[5]
  • CIBC World Markets plc[5]
  • CIBC Asset Management Inc.[5]
Websitecibc.com

The Canadian Imperial Bank of Commerce (CIBC), is one of the "Big Five" banks in Canada. The bank is headquartered at Commerce Court in Toronto, Ontario.[3] CIBC's Institution Number (or bank number) is 010, and its SWIFT code is CIBCCATT. It is also one of the two major banks originally founded in Toronto alongside Toronto-Dominion Bank.

The Canadian Imperial Bank of Commerce was formed through the June 1, 1961, merger of the Canadian Bank of Commerce (founded 1867) and the Imperial Bank of Canada (founded 1873), the largest merger between chartered banks in Canadian history.[3][6]

The bank has four strategic business units: Canadian Personal and Small Business Banking, Canadian Commercial Banking and Wealth Management, U.S. Commercial Banking and Wealth Management, and Capital Markets.[5] It has international operations in the United States, the Caribbean, Asia, and United Kingdom; Globally. CIBC serves more than eleven million clients, and has over 40,000 employees. The company ranks at number 172 on the Forbes Global 2000 listing.[7]

References[change | change source]

  1. "A New Bank, 1961-1986". The Story of CIBC. Canadian Imperial Bank of Commerce. Archived from the original on February 9, 2005. Retrieved August 31, 2017. On June 1, 1961, the Canadian Imperial Bank of Commerce was formed through the merger of The Canadian Bank of Commerce and the Imperial Bank of Canada.
  2. "Canadian Imperial Bank of Commerce (CIBC) (CM)". Markets Insider. Business Insider. Archived from the original on September 2, 2017. Retrieved September 2, 2017. Canadian Imperial Bank of Commerce was founded on June 1, 1961 and is headquartered in Toronto, Canada.
  3. 3.0 3.1 3.2 Bonham, Mark S. "Canadian Imperial Bank of Commerce (CIBC)". The Canadian Encyclopedia. Retrieved August 19, 2019. It was created through the 1961 merger of two Ontario-based banks, the Canadian Bank of Commerce and the Imperial Bank of Canada, the largest merger of two chartered banks in Canada's history.
  4. "A Short History of CIBC" (PDF). CIBC. Archived (PDF) from the original on 8 August 2017. Retrieved 17 May 2017.
  5. 5.00 5.01 5.02 5.03 5.04 5.05 5.06 5.07 5.08 5.09 5.10 5.11 5.12 5.13 "2019 Annual Report" (PDF).
  6. "CIBC History". Canadian Imperial Bank of Commerce. Archived from the original on February 6, 2005.
  7. "Forbes Global 2000 List, 2013 edition". Forbes. Forbes.com. 17 April 2013. Archived from the original on 2 May 2013. Retrieved 2013-11-21.
  1. In some materials CIBC claims 1867, the founding year of the Canadian Bank of Commerce, as its year of establishment