CIBC (Canadian Imperial Bank of Commerce) is a leading Canadian-based financial institution with a market capitalization of CAD 31.8 billion (December 31, 2012). The Company has three major businesses - Retail and Business Banking, Wealth Management and Wholesale Banking - focused in Canada and around the world. Total assets: CA$ 393.4 billion (as of December 31, 2012). Net income: CA$ 2.9 billion (2011), CA$ 3.3 billion (2012).
CIBC provides a full range of financial products and services to almost 11 million clients. We have more than 42,000 employees dedicated to helping our clients achieve what matters to them, delivering consistent and sustainable performance for our shareholders.
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No more queues in front of ATMs - 23.01.2013 Reduced transaction duration is an important issue for customer satisfaction and for efficient use of Banking channels, especially at ATMs. Every measure taken to fasten cash withdrawals, most widespread used ATM transaction, is beneficial to both customers and banks.
Swiss bank Wegelin & Co. to close after US tax evasion fine - 04.01.2013 Switzerland's oldest bank is to close permanently after pleading guilty in a New York court to helping Americans evade their taxes. Wegelin & Co., which was established in 1741, has also agreed to pay $57.8 million in fines to US authorities. Source: BBC
Banks seen shrinking for good as lay-offs near 160,000 - 16.11.2012 Major banks have announced some 160,000 job cuts since early last year and with more lay-offs to come as the industry restructures, many will leave the shrinking sector for good as redundancies outpace new hires by roughly two-to-one. Source: Reuters