The CIBC - Canadian Imperial Bank of Commerce

Coming in as Canada’s fifth largest chartered bank is the Canadian Imperial Bank of Commerce, or as it is usually called – CIBC. The CIBC is headquartered in Toronto Ontario but also has operations in the United States, Asia and the UK. The CIBC reported over $11 billion in revenue for 2006. The CIBC is a publicly traded company on both the Toronto and New York stock exchanges.

The Canadian Imperial Bank of Commerce had a total market capitalization of $29.4 billion for the year 2006. The net income for the CIBC for 2006 was $2.6 billion or $7.43 per share for their stockholders. The CIBC has a total of 1,055 branch banks in Canada with more than 3,800 automated banking machines.

In fact, the CIBC was the first bank in Canada to introduce bank machines with their automated cash dispenser that they debuted in 1969. This is a long way from their creation, which took place in 1867 when they were known as the Canadian Bank of Commerce. It joined in 1961 with Imperial Bank of Canada to form what it is today – the Canadian Imperial Bank of Commerce.

CIBC’s retail and wealth creation businesses are known as CIBC Retail Markets. They provide their banking customers with financial products and services. These services extend to small businesses and investment management services to retail and institutional clients. And via CIBC World Markets they operate a wholesale and corporate banking section of the CIBC. This service provides integrated credit and capital markets products, investment banking, and merchant banking to their clients.

To learn more about the Canadian Imperial Bank of Commerce please see their official website at: www.cibc.com