CIBC

Canadian Imperial Bank of Commerce (CIBC) is a pioneer in Canada's financial markets, with a customer-centric, innovation-driven approach to retail banking, wealth management and capital markets. Founded in 1961 through the historic merger of the Bank of Canada (founded in 1867) and the Canadian Imperial Bank (founded in 1873), it is headquartered at CIBC Place (81 Bay Street) in downtown Toronto, Ontario, Canada. As a bank listed on the Toronto Stock Exchange (TSX: CM) and the New York Stock Exchange (NYSE: CM), CIBC serves more than 14 million customers through its four strategic business units: Canadian Personal & Commercial Banking, Canadian Commercial Banking & Wealth Management, U.S. Commercial Banking & Wealth Management, and Capital Markets.

CIBC

is a commercial bank, non-state-owned or joint venture, founded in 1961 and headquartered at CIBC Plaza, Toronto, Ontario, Canada. The bank is jointly owned by institutional investors and public shareholders, with a total market capitalization of approximately C$65 billion in 2023, and its major shareholders include Canada Pension Funds and international investment institutions. CIBC is strictly regulated by the Financial Institutions Authority of Canada (OSFI) and the Financial Consumer Protection Authority of Canada (FCAC) and is required to comply with the Banking of Canada Act and international financial standards to ensure operational transparency and the safety of customer funds. Its deposits are protected by the Canadian Deposit Insurance Corporation (CDIC) with a maximum coverage of $100,000 per depositor. Deposits in the U.S. are protected by the Federal Deposit Insurance Corporation (FDIC) up to $250,000. The SWIFT code for the bank is CIBCCATT and the Legal Entity Identifier (LEI) is 2IGI19DL77OX0HC3ZE78. CIBC has approximately 1,100 branches and 4,500 ATMs in Canada and branches worldwide, including in the United States, the Caribbean, Asia and the United Kingdom, with approximately 48,000 employees worldwide.

Deposit & Loan Products

Deposit CategoryCIBC

provides a variety of deposit products to meet the savings needs of individual and corporate customers:

Demand Deposits: This includes checking accounts and savings accounts, such as CIBC Smart Account, with a minimum opening amount of $100 CAD and a base annualized rate of return (APY) of approximately 0.05% to 0.3%, subject to confirmation of the latest interest rate through branch or online banking (Deposit Services).

• Fixed Deposits: Available in multiple currencies such as CAD, USD, CNY, etc., with deposit terms ranging from 30 days to 5 years, with a minimum deposit of CAD 500. In 2025, CIBC GIC (Guaranteed Investment Certificate) interest rates can reach up to 4.0% (12 months, no minimum deposit requirement) through online banking (GIC rates).

• Featured products:

  • High Yield Savings Accounts: CIBC eAdvantage Savings Accounts, which offer up to 4.2% APR with a high balance (e.g., $100,000 or more) and no monthly fees.

  • Large Certificates of Deposit (CD): Support flexible tenor, suitable for large amount of money customers, the interest rate needs to be queried through the branch or app, and the early withdrawal penalty is 90 to 180 days of interest.
    Customers can check the "Cloud Interest Rate" offer through the CIBC Mobile Banking app or online banking, and the deposit products can be opened and calculated instantly, and some accounts can be offered free of transaction fees.

Loan CategoryCIBC

provides a comprehensive range of loan products to meet diversified financing needs

• mortgage: Fixed-rate and variable-rate mortgages with a loan amount of up to 80% of the value of the property and a repayment period of up to 30 years. In 2025, the fixed rate is as low as 4.19% (2-year term), and the floating rate is based on the CIBC Prime Rate (approximately 6.95%), offering up to $1,200 in cash rebates and green mortgage discounts (energy-efficient homes). To apply, you need a credit score of 700 or more and an annual income of more than $30,000 (mortgage loan).

• Car Loans: New and used car financing is available for up to $350,000 CAD, with a term of up to 7 years, an annualized interest rate (APR) as low as 5.99%, and a credit score of 660 or above.

• Personal Line of Credit: Includes CIBC Personal Loan (APR as low as 10.99% and maximum amount of $200,000) and CIBC Home Power Plan (revolving line of credit with up to 95% of collateral market value) with a monthly salary of at least $30,000 and a good credit history.

• Flexible repayment options: Mortgages and personal loans offer no penalty for early repayment, weekly or bi-weekly payment plans, and a family equity loan (HELOC) with a revolving line of credit that allows interest-only payments.
  All loans are subject to bank approval, and customers are required to provide credit history, proof of income and asset information, subject to the terms of the loan agreement. The bank's trade finance services, such as letters of credit and trade loans, provide additional support (commercial loans) to cross-border businesses.

Digital Service

ExperienceCIBC's mobile banking app "CIBC Mobile Banking" is the core of its digital services, which is available for download on iOS 14.0 and above and Android 9.0 and above devices, with an App Store rating of 4.7 and a Google Play rating of 4.3, with users praising its quick launch (in less than 2 seconds) and intuitive interface (CIBC Mobile Banking）。 Core features include:

• Face recognition: supports biometric authentication (such as Face ID and Touch ID), combined with multi-factor authentication and data encryption to ensure transaction security.

• Real-time transfers: Interac e-Transfer supports instant transfers in Canadian dollars with a daily limit of up to $2,500 CAD, and international money transfers are available in over 100 countries through Western Union at low rates.

• Bill management: Support online bill payment, automatic deduction and e-statement, and classify transaction records in real time.

• Investment Tool Integration: Support stocks, ETFs, mutual funds, and GICs trading through CIBC Investor's Edge, providing real-time market data and investment advisory services (Investment Services).
  CIBC Online Banking, an online banking platform that supports multiple browsers (e.g. Microsoft Edge, Google Chrome), provides similar features, and customers can open an account in 5 minutes through the app or official website. The app supports accessibility features such as dynamic font adjustment and VoiceOver compatibility for visually impaired and hearing-impaired customers. Some users reported occasional technical issues, but CIBC continued to optimize the user experience.

Technological

innovationCIBC is a strong performer in the fintech sector, driving technological advancement through its Digital Innovation Center:

• AI customer service: Introduced an AI-driven customer service system to analyze transaction behavior and detect fraud risks in real time, and won the "Best AI Application Award" from The Digital Banker in 2023. A virtual assistant is planned to be launched in 2025 to support 24/7 inquiries and personalized financial advice.

• Robo-advisors: AI-based investment management services through CIBC Investor's Edge recommend diversified portfolios based on customer risk appetite with a minimum investment of $1,000 and no subscription fees.

• Open Banking API Support: Follows the Canadian Open Banking Framework and integrates with third-party service providers to provide account management and financial services interoperability, particularly in the areas of trade finance and cross-border payments.

• Other innovations: Support for mobile check deposits, Open Banking data sharing, and Fraud Protection tools that leverage AI to detect fraud and reduce fraud losses by 30% by 2023. In 2024, CIBC will invest $1 billion to upgrade its cloud technology and digital platform to improve operational efficiency (digital banking).

Featured Services & DifferentiationCIBC

is known for its localization and internationalization capabilities:

• SME support: Customized loan and cash management services through CIBC Business Banking, participate in the Government of Canada's SME Financing Guarantee Program, and approve loans in as fast as 10 seconds and up to $5 million CAD (business banking services).

• International presence: It has branches in the United States, the Caribbean, Asia (China, Hong Kong, Singapore) and the United Kingdom to support trade financing in countries along the "Belt and Road".

• Sustainable Finance: Launched green bonds and preferential rate loans, supported environmentally friendly projects, and responded to the United Nations Principles for Responsible Banking, and won the "Canadian Green Finance Pioneer Award" in 2023.

• Wealth Management: Through CIBC Private Wealth and CIBC Wood Gundy, we provide individual pension funds, unit trusts and insurance products to meet the needs of high-net-worth clients (wealth management).

• Community Contribution: Support education and philanthropic projects through the CIBC Foundation, donating $5 million in 2023 for community development and financial literacy workshops to improve the financial literacy of customers and the community.

Market Position &

HonorCIBC is the fifth-largest bank in Canada, with total assets of approximately C$975.72 billion, revenue of C$23.3 billion, and net profit of C$5 billion in 2023, ranking among the top in the Canadian banking industry. With approximately 1,100 branches and 4,500 ATMs, the bank serves 14 million customers, and is a market leader in retail banking and wealth management. Its international presence covers the United States, the Caribbean and Asia, and it ranked 84th on the Forbes Global 2000 list in 2023. Major accolades include:

• The Banker's 2023 Best Retail Bank in Canada Awards.

• 2022 Greenwich Associates SME Customer Experience Award.

• The 2023 "Best Employer" certification recognizes performance in employee development and community support.

• 2023 Canada Green Finance Pioneer Award.
  CIBC's solid financial performance and innovative ability have made it a leader in Canadian and global financial markets.

SummaryCanadian

Imperial Bank of Commerce Limited has become a pioneer in the financial markets of Canada and North America with its long history, global presence and innovative financial services. It offers a wide range of deposit and loan products, including high-yield savings accounts, term deposits, and flexible mortgages and personal loans, to meet the diverse needs of its customers. In terms of digital services, the CIBC Mobile Banking app has been well received for its efficient real-time transfer and investment management features. Technological innovations, including AI customer service, robo-advisors, and open banking API support, demonstrate its forward-looking digital transformation. With its SME support, international presence, commitment to sustainable finance and multiple industry accolades in 2023, CIBC continues to demonstrate strong competitiveness and influence in the global financial market.

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