CIBC (Canadian Imperial Bank of Commerce) is one of the five largest banks in Canada. It provides financial products and services, mortgages, loans, bank accounts, credit cards, insurance, and more.
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The origins of the bank date back to 1867 when William McMaster, founder of the entity, wanted to establish an institution that competed with the Bank of Montreal. It was established under the name of Bank of Commerce of Canada. Later, in 1875, Henry Stark Howland created the Imperial Bank of Canada.
Over time, the Commerce Bank grew and expanded more and more through national and international acquisitions. After World War II, both banks were essential for the reconstruction of the country by offering people mortgage services. Both institutions aimed to grow economically and become the strongest banking entities in Canada. Therefore, in 1961, The Canadian Bank of Commerce and the Imperial Bank of Canada joined to form the Canadian Imperial Bank of Commerce (CIBC).
The new bank established a new headquarters (the current one) in 1973 called Commerce Court. Years later, it was the first institution to offer investment with CIBC Securities, which merged with Wood Gundy to form CIBC Wood Gundy in 1988. Today, it is known as CIBC World Markets. During the last years, it began to provide banking services via telephone and online.
It refers to bank transfers from a particular bank. The route number of the CIBC is 071006486.
Number of Employees
At the end of 2018, the census conducted at the bank resulted in 44,220 employees.
The rating assesses the possible financial risks that a bank would have due to debts.
CIBC has a rating of:
- S&P = A+.
- Moody’s = Aa2.
- Fitch = AA-.
A+ (S&P Global) = The economic situation could affect financing.
Aa2 (Moody’s) = It has high quality and with a little more risk to long-term risks.
AA- (Fitch) = It means that the bank has very high security.
The headquarters are located in the city of Toronto, Canada.
Any additional information can be found on the official website: http://cibc.com
- Personal Banking: It offers customers in general financial and banking services, credit and debit cards, mortgages, loans, investments, insurance, and more.
- Business Banking: It provides all those who have a business banking and commercial services. It includes business accounts, cash management, loans, credit, expense management, investments, and retirement.
It also allows customers and companies to carry out their banking operations whenever and wherever through the online and telephone banking system.
- Address: Commerce Court, Bay Street, Toronto, Ontario, Canada.
- Phone Number: +1 902-420-2422 (Customer Service).