In 1961, Canadian Bank of Commerce (established 1867) and the Imperial Bank of Canada (established 1875) merged to form the Canadian Imperial Bank of Commerce (CIBC) in the largest merger of two chartered banks in Canadian history. In 1969, the bank unveiled the first ABM in Canada, calling it "24 hour cash dispenser,” that allowed clients to withdraw $30 at a time. In 1992, CIBC was the first Canadian financial institution to offer automated telephone banking service across Canada, and in 2010, it was the first to offer its clients a mobile banking app.
Today, Canada’s fifth-largest bank is a Payments Canada member and direct participant. Its main business units include Retail and Business Banking, Wealth Management and Capital Markets. CIBC serves more than 11 million clients and has over 44,000 employees, 1,129 branches and 4,196 bank machines. In 2015, it had $463.3 billion in assets and reported $13.9 billion in revenue.
Learn more about CIBC.