Canadian Imperial Bank of Commerce


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Canadian Imperial Bank of Commerce

 

one of Canada’s largest commercial banks. In 1971 the Canadian Imperial Bank of Commerce occupied second place among the nine Canadian chartered banks, which are licensed to operate under charters issued in accordance with the Banking Act of 1871.

Founded in 1867 under the name of the Canadian Commercial Bank, the Canadian Imperial Bank of Commerce acquired its present name in June 1961 after its merger with the Imperial Bank of Canada. The bank’s principal operations are attracting funds, advancing credit, and buying up securities. Although the Canadian Imperial Bank of Commerce conducts extensive operations abroad, the volume of its foreign operations is not equal to that of the Royal Bank of Canada or the Bank of Montreal. In terms of the number of branches in Canada (1, 500), the Canadian Imperial Bank of Commerce held first place in 1971. There are 19 branches in the USA (including one in New York), as well as two branches in London and 47 branches in Caribbean countries (Jamaica, Barbados, and Trinidad). In addition, there are several subsidiary banks that specialize in managing their clients’ estates—for example, the Canadian Bank of Commerce Trust Company in New York and banks with the same name in Jamaica, Barbados, and Trinidad. On Oct. 31, 1971, the basic balance sheets showed (in Canadian currency) a total balance of $11.4 billion, deposits of $10, 419 billion, loans of $5.711 billion, securities investments worth $2, 864 billion, and a paid-in capital of $69.7 million.

V. I. RYZHYKOVA

References in periodicals archive ?
Canadian Imperial Bank of Commerce (CIBC) said that its fiscal third-quarter profit rose 6.2 percent.
21 January 2011 - Canadian Imperial Bank of Commerce (TSE:CM) yesterday placed USD2bn (EUR1.5bn) covered bonds through its Toronto unit, said Thomson Reuters agency IFR.
The CEO of Canada-based Canadian Imperial Bank of Commerce (CIBC), has said that the bank is ready to adopt new technologies.
7 December 2010 - Canadian Imperial Bank of Commerce (TSE:CM) yesterday issued USD1bn (EUR751m) of five-year debt, showed data by Thomson Reuters agency IFR.
Canadian Imperial Bank of Commerce (CIBC) (NYSE: CM) (TSX: CM), a leading Canada-based global financial institution, has said that its board of directors has declared a dividend of USD1.09 per share on common shares for the quarter ending July 31, 2015.
and Canadian Imperial Bank of Commerce (TSE:CM) have led the CAD1bn (USD978m/EUR747m) debt sale of telecom company Bell Canada, Reuters said Monday citing a term sheet it has obtained.
The head of Canadian Imperial Bank of Commerce (NYSE: CIBC) has said that the bank will not pursue wealth deals if they affect its financial strength.
7 October 2010 - Canadian Imperial Bank of Commerce (TSE:CM), or CIBC, has issued AUD750m (USD732m/EUR526m) 2013 covered bonds at some 48 basis points over swap, Reuters said today citing the managers of the issue.
26 October 2011 - The investment dealer units of Bank of Nova Scotia (TSE:BNS; NYSE:BNS) and Canadian Imperial Bank of Commerce (TSE:CM; NYSE:CM), or CIBC, have arranged the sale of CAD300m (USD296m/EUR212m) of notes by Canada's WestCoast Energy, Reuters said Tuesday, citing a term sheet.
The top man at the Canadian Imperial Bank of Commerce believes the country is very close to a recession, and it won't be a short one.
Canadian Imperial Bank of Commerce (CIBC) (NYSE: CM) (TSX: CM) has said that it will offer assistance to help make the transition home easier for clients after the re-opening of its two Fort McMurray banking centres this week.
12 April 2013 - Canadian Imperial Bank of Commerce (TSX:CM; NYSE:CM), or CIBC, said it had reached a USD210m (EUR160.1m) all-cash deal to buy US Atlantic Trust Private Wealth Management from Atlanta-based investment manager Invesco Ltd (NYSE:IVZ).
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