TORONTO, Oct. 23, 2024 /CNW/ - CIBC (TSX: CM) (NYSE: CM) today announced that it is lowering its Canadian prime lending rate by 50 basis points from 6.45 per cent to 5.95 per cent, effective Thursday, October 24, 2024.

About CIBC 

CIBC is a leading North American financial institution with 14 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/ca/media-centre.

Sponsorship to introduce the CIBC Platinum Club to elevate the glass-level fan experience; Build on community impact initiatives

CHICAGO, Oct. 23, 2024 /PRNewswire/ - CIBC is pleased to announce the renewal of its partnership with the Chicago Blackhawks, signing a five-year extension that will continue through the 2028-2029 season. This partnership, which originated in the 2009-2010 season, underscores the bank's unwavering commitment to both the Blackhawks and the Chicago community.

As part of the multi-year deal, CIBC and the Chicago Blackhawks will introduce the CIBC Platinum Club for glass-level members at United Center home games, offering special access and amenities that will enhance their fan experience. In addition to the new CIBC Platinum Club, the sponsorship includes distinct branding and marketing assets throughout the arena.   

CIBC's mobile platform rated best consumer banking mobile experience for the 7th time in the past 8 years

TORONTO, Oct. 11, 2024 /CNW/ - CIBC has won the 2024 Mobile Banking Award by Surviscor Inc., a North American firm specializing in the analysis and ranking of Canadian digital customer experiences. CIBC ranks the highest among mobile banking apps offered by Canada's big banks. "Being recognized as the highest ranked mobile banking app by Surviscor Inc. for the 7th time speaks to our team's commitment to our clients and their mobile banking experience," said Michael Clabby, Executive Vice-President, Head of Digital, Data and Strategy, CIBC. "We're committed to continuously finding ways to add value to our clients who choose mobile to help them stay on top of their everyday banking and stay connected to their financial goals."The Surviscor Canadian Mobile Banking Experience Review audits 23 Canadian digital banking firms including Canada's big banks, leading credit unions, popular neo (branchless) banks, and other firms that identify as a bank or a co-operative movement, each offering a banking platform designed to be used on a phone. The digital platforms are evaluated over five experience categories (pre-login, user experience, account information, transactional and mobile resources), using over 300 individual usage criteria and based on over 2700 objective questions per firm.

TORONTO and CHICAGO, Oct. 10, 2024 /CNW/ - CIBC today announced it is donating US$100,000 to the American Red Cross to support Hurricane Milton relief efforts. This is in addition to the US$100,000 that was donated earlier this month to support those impacted by Hurricane Helene.

"We join our clients and team members across North America in supporting efforts to help those impacted by Hurricane Milton," said Shawn Beber, Senior Executive Vice-President and Group Head, CIBC US Region and President and CEO, CIBC Bank USA. "Our thoughts are with the Florida communities that have been affected by this disaster."

TORONTO and CHICAGO, Oct. 10, 2024 /PRNewswire/ - CIBC today announced it is donating US$100,000 to the American Red Cross to support Hurricane Milton relief efforts. This is in addition to the US$100,000 that was donated earlier this month to support those impacted by Hurricane Helene.

"We join our clients and team members across North America in supporting efforts to help those impacted by Hurricane Milton," said Shawn Beber, Senior Executive Vice-President and Group Head, CIBC US Region and President and CEO, CIBC Bank USA. "Our thoughts are with the Florida communities that have been affected by this disaster."

TORONTO, Oct. 8, 2024 /CNW/ - The 33rd annual Canadian Cancer Society CIBC Run for the Cure took place on October 6, bringing together 55,000 participants and volunteers, including 13,000 Team CIBC members who laced up their shoes at 53 Run sites from coast-to-coast-to-coast. This year, over $15M was raised, including $2.5M by Team CIBC. The funds raised will continue to be invested in ground-breaking breast cancer research and compassionate support programs to improve treatment, prevention, detection, diagnosis, wellness and survivorship and ensure those living with breast cancer live longer, fuller lives.

TORONTO and CHICAGO, Oct. 2, 2024 /PRNewswire/ - CIBC today announced it is donating US$100,000 to the American Red Cross to support Hurricane Helene relief efforts.

"We join our clients and team members across North America in supporting efforts to help those impacted by Hurricane Helene," said Shawn Beber, Senior Executive Vice-President and Group Head, CIBC US Region and President and CEO, CIBC Bank USA. "Our thoughts are with the communities that have been affected by this widespread disaster."

TORONTO and CHICAGO, Oct. 2, 2024 /CNW/ - CIBC today announced it is donating US$100,000 to the American Red Cross to support Hurricane Helene relief efforts.

"We join our clients and team members across North America in supporting efforts to help those impacted by Hurricane Helene," said Shawn Beber, Senior Executive Vice-President and Group Head, CIBC US Region and President and CEO, CIBC Bank USA. "Our thoughts are with the communities that have been affected by this widespread disaster."

Popular CIBC Aventura program now offers new travel options, greater choice, and the advantages of a global travel provider for points redemption  

TORONTO, Oct. 1, 2024 /CNW/ - CIBC today announced "CIBC by Expedia", an exciting new offering for clients, providing greater flexibility and more self-serve options for travel with global travel technology company, Expedia Group. CIBC by Expedia is now available to CIBC Aventura® Credit Card clients for all travel bookings, including redemption of Aventura Rewards points.

TORONTO, Sept. 26, 2024 /CNW/ - CIBC today announced it has been awarded Silver certification in the Partnership Accreditation in Indigenous Relations (PAIR) program from the Canadian Council for Indigenous Business (CCIB).

PAIR's multi-year certification process recognizes organizations committed to establishing strong and ongoing working relationships that create wealth for Indigenous businesses and communities. The Silver certification reflects CIBC's long-standing dedication to economic reconciliation.

TORONTO, Sept. 26, 2024 /CNW/ - CIBC (TSX: CM) (NYSE: CM) – CIBC Asset Management Inc. (CAM) announces a change of portfolio advisors to the CIBC Multi-Sector Fixed Income Private Pool (the "Pool").

Effective on or about October 4, 2024, portfolio management responsibilities for a portion of the Pool will be assumed or reallocated among the following portfolio advisor and/or portfolio sub-advisor(s):

TORONTO, Sept. 20, 2024 /CNW/ - CIBC (TSX: CM) (NYSE: CM) – CIBC Asset Management Inc. today announced the September 2024 cash distributions for CIBC ETFs, which distribute monthly and quarterly.

Unitholders of record on September 27, 2024, will receive cash distributions payable on October 3, 2024. Details of the final "per unit" distribution amounts are as follows:

CIBC ETF

Ticker Symbols

Exchange

Cash Distribution Per Unit ($)

CIBC Active Investment Grade Corporate Bond ETF

CACB

TSX

$0.077

CIBC Active Investment Grade Floating Rate Bond ETF

CAFR

TSX

$0.072

CIBC Flexible Yield ETF (CAD-Hedged)

CFLX

TSX

$0.079

CIBC Conservative Fixed Income Pool ETF

CCNS

TSX

$0.058

CIBC Core Fixed Income Pool ETF

CCRE

TSX

$0.060

CIBC Canadian Equity Index ETF

CCEI

TSX

$0.194

CIBC U.S. Equity Index ETF

CUEI

TSX

$0.09

CIBC International Equity Index ETF

CIEI

TSX

$0.183

CIBC U.S. Equity Index ETF (CAD-Hedged)

CUEH

TSX

$0.085

CIBC International Equity Index ETF (CAD-Hedged)

CIEH

TSX

$0.225

CIBC Core Plus Fixed Income Pool

CPLS

TSX

$0.064

CIBC Canadian Bond Index ETF

CCBI

TSX

$0.045

CIBC Canadian Short Term Bond Index ETF

CSBI

TSX

$0.046

CIBC Global Bond ex-Canada Index ETF (CAD-Hedged)

CGBI

TSX

$0.039

CIBC Sustainable Canadian Core Plus Bond Fund

CSCP

CBOE

$0.060

CIBC Qx Canadian Low Volatility Dividend ETF

CQLC

CBOE

$0.060

CIBC Qx U.S. Low Volatility Dividend ETF

CQLU

CBOE

$0.038

CIBC Qx International Low Volatility Dividend ETF

CQLI

CBOE

$0.079

CIBC 2025 Investment Grade Bond Fund — ETF Series

CTBA

CBOE

$0.027

CIBC 2026 Investment Grade Bond Fund — ETF Series

CTBB

CBOE

$0.022

CIBC 2027 Investment Grade Bond Fund — ETF Series

CTBC

CBOE

$0.033

CIBC 2028 Investment Grade Bond Fund — ETF Series

CTBD

CBOE

$0.035

CIBC 2029 Investment Grade Bond Fund — ETF Series

CTBE

CBOE

$0.050

CIBC 2030 Investment Grade Bond Fund — ETF Series

CTBF

CBOE

$0.040

CIBC 2025 U.S. Investment Grade Bond Fund — ETF Series (USD)*

CTUC.U

CBOE

$0.021

CIBC 2026 U.S. Investment Grade Bond Fund — ETF Series (USD)*

CTUD.U

CBOE

$0.026

CIBC 2027 U.S. Investment Grade Bond Fund — ETF Series (USD)*

CTUE.U

CBOE

$0.033

CIBC Sustainable Conservative Balanced Solution – ETF Series

CSCB

CBOE

$0.039

CIBC Sustainable Balanced Solution – ETF Series

CSBA

CBOE

$0.006

CIBC Sustainable Balanced Growth Solution – ETF Series

CSBG

CBOE

$0.000

Expanded CDR lineup provides more opportunities for Canadians to invest in global companies

TORONTO, Sept. 18, 2024 /CNW/ - Today CIBC announced 10 new Canadian Depositary Receipts ("CDRs"), now listed on Cboe Canada. Introduced to investors over three years ago, CIBC has a total of 65 CDRs available in market.  

CDRs make it easy to invest in many of the world's largest companies – in Canadian dollars. Offered at a fraction of the price per share of the underlying reference share, and with a built-in notional currency hedge, CDRs provide investors with affordable access to US-listed stocks while mitigating the currency risk associated with global investing.

CHICAGO, Sept. 5, 2024 /PRNewswire/ - CIBC US today announced that the CIBC Agility™ Certificate of Deposit (CD) has been awarded "Best Short-Term CD" in the 2024 Smart Money Awards, presented by REAL SIMPLE. This recognition highlights the bank's dedication to providing innovative financial products that meet the evolving needs of its clients.

"At CIBC, we understand that many Americans struggle to save enough for their future," said Dan Sullivan, Jr., head of Private and Personal Banking at CIBC US. "With competitive rates and flexible terms, the CIBC Agility CD is a smart choice for anyone looking to grow their savings while enjoying peace of mind."

Changes continue evolution and depth of leadership team to further business performance and bring the best of CIBC to our clients

TORONTO, Sept. 5, 2024 /CNW/ - CIBC (TSX: CM) (NYSE:CM) President and CEO Victor Dodig today announced senior leadership appointments that position the bank to continue executing on its client-focused strategy and build on its momentum in creating sustainable value for all stakeholders.

TORONTO, Sept. 4, 2024 /CNW/ - CIBC (TSX: CM) (NYSE: CM) today announced that it is lowering its Canadian prime lending rate by 25 basis points from 6.70 per cent to 6.45 per cent, effective Thursday, September 5, 2024.

About CIBC

CIBC is a leading North American financial institution with 14 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network and locations across Canada, with offices in the United States and around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/en/about-cibc/media-centre.html

TORONTO, Aug. 30, 2024 /CNW/ - Robert Sedran, CIBC (TSX: CM) (NYSE: CM) Senior Executive Vice-President and Chief Financial Officer, will speak at the 2024 Barclays Global Financial Services Conference on Tuesday September 10, 2024. Mr. Sedran is scheduled to speak at 8:15 a.m. ET.

Interested parties may access the live audio webcast at https://www.cibc.com/ca/investor-relations/exctv-prsntatns-wbcsts.html. An archived version of the audio webcast will be available at the same location.

TORONTO, Aug. 29 , 2024 /CNW/ - CIBC (TSX: CM) (NYSE: CM) today announced its intention to purchase for cancellation up to 20 million common shares under a normal course issuer bid, subject to the approval of the Toronto Stock Exchange (TSX). Common shares that may be purchased for cancellation represent approximately 2.1% of outstanding common shares as at July 31, 2024.

CIBC will file a notice of intention to make a normal course issuer bid with the TSX and this bid would commence following TSX's acceptance of this notice and continue for up to one year.

TORONTO, Aug. 29, 2024 /CNW/ - CIBC (TSX: CM) (NYSE: CM) announced today that its Board of Directors declared a dividend of $0.90 per share on common shares for the quarter ending October 31, 2024 payable on October 28, 2024 to shareholders of record at the close of business on September 27, 2024.

Class A Preferred Shares

The Board of Directors also declared the following dividends per share:

TORONTO, Aug. 29, 2024 /CNW/ - CIBC (TSX: CM) (NYSE: CM) today announced its financial results for the third quarter ended July 31, 2024.

Third quarter highlights

Q3/24 

Q3/23 (1) 

Q2/24 

YoY 

Variance 

QoQ Variance 

Revenue

$6,604 million 

$5,852 million 

$6,164 million 

+13 %

+7 %

Reported Net Income

$1,795 million 

$1,432 million 

$1,749 million 

+25 %

+3 %

Adjusted Net Income (2)

$1,895 million 

$1,475 million 

$1,718 million 

+28 %

+10 %

Adjusted pre-provision, pre-tax earnings (2)

$2,939 million 

$2,602 million 

$2,690 million 

+13 %

+9 %

Reported Diluted Earnings Per Share (EPS)

$1.82

$1.47

$1.79

+24 %

+2 %

Adjusted Diluted EPS (2)

$1.93

$1.52

$1.75

+27 %

+10 %

Reported Return on Common Shareholders' Equity (ROE) (3)     

13.2 %

11.6 %

13.7 %

Adjusted ROE (2)

14.0 %

12.0 %

13.4 %

Net interest margin on average interest-earnings assets (3)(4)

1.50 %

1.49 %

1.46 %

Net interest margin on average interest-earnings assets (excluding trading) (3)(4)

1.84 %

1.67 %

1.72 %

Common Equity Tier 1 (CET1) Ratio (5)

13.3 %

12.2 %

13.1 %