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CIBC - Canadian Imperial Bank of Commerce

Title: CIBC - Canadian Imperial Bank of Commerce
Category: Finance
Clicks: 2
Added on: Nov 26, 2011
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CIBC is a Canadian financial institution which offers personal banking services and business services to its clients. The bank was established with the merger of the Imperial Bank of Canada (founded in 1875) and the Canadian Bank of Commerce (1867), which took place in 1961. The Imperial Bank acquired two financial institutions as well. The first acquisition was completed to establish its presence in the southern part of Ontario. The second acquisition took place to create a network of branches on the territory of Canada. CIBC’s main competitors in the banking business are RBC, TD Bank, CIBC, and others. Personal clients of the Canadian Imperial Bank of Commerce can choose from a variety of financial products, be it checking and savings accounts, lines of credit, mortgages and loans, investment solutions, and more. The bank features a number of insurance types, including travel insurance, health insurance, and life insurance, providing for one’s family should the unexpected happen. CIBC also offers a variety of investment solutions, helping clients save for their children’s postsecondary education, toward retirement, or for anything else. Investment products offered by the bank include structured notes, mutual funds, GICs, and diversified portfolio solutions, which are rebalanced and monitored regularly. Clients of the bank can opt for a registered disability savings plan as well, offering financial security to persons with disabilities. Tax-free savings accounts are also offered, enabling clients to set money aside and invest it in different investment vehicles. The bank offers a wide selection of financial services specially designed for the needs of business clients. These include merchant and cash management services, business accounts, retirement planning and investment solutions, and many others. Specialty services facilitate the growth of startup and established businesses, and there are services for agricultural professionals and persons belonging to the Aboriginal communities. The bank also offers international services, such as foreign exchange, correspondent banking, and trade finance. Finally, the Imperial Bank of Commerce offers banking services for salaried employees and self-employed professionals such as notaries, lawyers, dentists, and surgeons. Services include customized banking options and specialty accounts. The bank’s team of advisors offers advice in different areas, including wealth management, succession planning, cash management, borrowing, and more.
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