Canadian Imperial Bank of Commerce

"CIBC" redirects here. For its subsidiary in the United States, see CIBC Bank USA. For other uses, see CIBC (disambiguation).
Canadian Imperial Bank of Commerce
Company typePublic
IndustryFinancial services
Predecessors
FoundedJune 1, 1961; 63 years ago (1961-06-01)[1][2][3][4][a]
Headquarters
Toronto, Ontario
,
Canada
Key people
Products
BrandsCIBC Bank USA
Simplii Financial
RevenueIncrease Can$24.77 billion (2024)[6]
Decrease Can$5.0 billion (2023)[6]
AUMIncrease Can$300.2 billion (2023)[6]
Total assetsIncrease Can$975.7 billion (2023)[6]
Total equityIncrease Can$53.2 billion (2023)[6]
Number of employees
48,000 (FTE, 2023)[6]
Subsidiaries
  • CIBC Bank USA
  • 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; French: Banque canadienne impériale de commerce) is a Canadian multinational banking and financial services corporation headquartered at CIBC Square in the Financial District of Toronto, Ontario.[3] The Canadian Imperial Bank of Commerce was formed through the 1961 merger of the Canadian Bank of Commerce (founded in 1867) and the Imperial Bank of Canada (founded in 1873), in the largest merger between chartered banks in Canadian history.[3][7] It is one of two "Big Five" banks founded in Toronto, the other being the Toronto-Dominion Bank.

The bank has four strategic business units: Canadian Personal and 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.[8]

CIBC's Institution Number (or bank number) is 010, and its SWIFT code is CIBCCATT.

  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. ^ a b c 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. ^ a b c d e f g h "2020 Annual Report" (PDF).
  6. ^ a b c d e f "Annual Reports" (PDF). Investor Relations. Canadian Imperial Bank of Commerce. Retrieved 10 December 2023.
  7. ^ "CIBC History". Canadian Imperial Bank of Commerce. Archived from the original on February 6, 2005.
  8. ^ "Forbes Global 2000 List, 2013 edition". Forbes. 17 April 2013. Archived from the original on 2 May 2013. Retrieved 2013-11-21.


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