TORONTO, Dec. 18, 2024 /CNW/ - CIBC (TSX: CM) (NYSE: CM) today announced its intention to redeem all of its issued and outstanding Non-cumulative Rate Reset Class A Preferred Shares Series 41 (Non-viability contingent capital (NVCC)) (Series 41 shares) (TSX: CM.PR.P), for cash. The redemption will occur on January 31, 2025. The redemption price is $25.00 per Series 41 share.

The $0.244313 quarterly dividend announced on December 5, 2024 will be the final dividend on the Series 41 shares and will be paid on January 28, 2025, covering the period to January 31, 2025, to shareholders of record on December 27, 2024.

TORONTO, Dec. 17, 2024 /CNW/ - CIBC today announced that it is now accepting submissions for its 2025 C² Art Program. The C² Art Program is an initiative designed to help emerging artists make their ambitions a reality with a unique paid opportunity to create and curate their art. The completed artwork will then be exhibited for three months at CIBC's headquarters, CIBC SQUARE.

Program overview:

TORONTO, Dec. 12, 2024 /CNW/ - CIBC today announced it has been named a 2025 Catalyst Award winner in recognition of the bank's ongoing commitment to advancing gender equity and inclusion at work. The Catalyst Award is a premier global recognition for organizations that demonstrate a strong commitment to promoting gender equity and workplace inclusion. 

The award recognizes CIBC's Leading with Inclusion initiative which helped revolutionize the bank's approach to advancing opportunity by introducing a comprehensive governance framework emphasizing shared accountability for more inclusive outcomes.

TORONTO, Dec. 11, 2024 /CNW/ - CIBC (TSX: CM) (NYSE: CM) today announced that it is lowering its Canadian prime lending rate by 50 basis points from 5.95 per cent to 5.45 per cent, effective Thursday, December 12, 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 https://www.cibc.com/en/about-cibc/media-centre.html.

TORONTO, Dec. 5, 2024 /CNW/ - CIBC (TSX: CM) (NYSE: CM) announced today that its Board of Directors declared a dividend of $0.97 per share on common shares for the quarter ending January 31, 2025 an increase of $0.07 per share from the previous quarter. This dividend is payable on January 28, 2025 to shareholders of record at the close of business on December 27, 2024.

Class A Preferred Shares

CIBC's 2024 audited annual consolidated financial statements and accompanying management's discussion and analysis (MD&A) will be available today at www.cibc.com, along with the supplementary financial information and supplementary regulatory capital reports which include fourth quarter financial information. Our 2024 Annual Report is available on SEDAR+ at www.sedarplus.com. All amounts are expressed in Canadian dollars, unless otherwise indicated.

TORONTO, Dec. 5, 2024 /CNW/ - CIBC (TSX: CM) (NYSE: CM) today announced its results for the fourth quarter and fiscal year ended October 31, 2024.

TORONTO, Nov. 29, 2024 /CNW/ - CIBC (TSX: CM) (NYSE: CM) – CIBC Asset Management Inc. today announced the estimated 2024 annual reinvested capital gains distributions for the CIBC ETFs and ETF Series. Please note that these are estimated capital gains amounts only, as of October 31, 2024. As these are estimated amounts, the final capital gains distributions are subject to change prior to the final distribution. 

Canadians are willing to pay more to make their homes eco-friendly

TORONTO, Nov. 28, 2024 /CNW/ - As interest rates continue to decline, poll findings show that renovations serve both practical and personal purposes, with over three in five (63%) Canadians driven by ambition to create a home to their taste and a desire to increase property value.

Nearly half of Canadians (49%) are in the process of planning, executing or have recently completed home improvements. Homeowners are reporting higher expenditures, with an average expected renovation cost of $19,000 which is nearly double the reported spend in 2019 ($10,000). Over half (57%) have paid or plan to cover costs using cash or personal savings, with 49% having a detailed, budgeted plan in place and 80% expressing confidence in their budget, timeline and scope.

TORONTO, Nov. 22, 2024 /CNW/ - CIBC (TSX: CM) (NYSE: CM) – CIBC Asset Management Inc. today announced the November 2024 cash distributions for CIBC ETFs and ETF Series of the CIBC Fixed Income Pools, which distribute monthly.

Unitholders of record on November 29, 2024, will receive cash distributions payable on December 4, 2024. Details of the final "per unit" distribution amounts are as follows:

  Partnership underscores CIBC's connectivity to the local community and clients

PALM BEACH GARDENS, Fla., Nov. 19, 2024 /PRNewswire/ - Today, The Cognizant Classic in The Palm Beaches and CIBC announced the expansion of their partnership, signing a multi-year extension with the tournament. The Cognizant Classic in The Palm Beaches is South Florida's premier PGA TOUR event, returning  to PGA National Resort's Champion Course, from February 26 to March 2, 2025. The expanded partnership for CIBC includes the title of official Private Wealth and Commercial Banking Partner of the event, entitlement rights to the Champions Club and the presenting sponsor of the Women's Leadership Forum.

TORONTO, Nov. 15, 2024 /CNW/ - CIBC has been recognized as one of Canada's Top 100 Employers for 2025 by Mediacorp Canada Inc., marking 13 consecutive years for CIBC on this prestigious list. The annual competition assesses employers on key criteria, including workplace environment, employee benefits, skills development, and community engagement.

"Our team members bring our purpose-driven culture to life every day through their commitment to our clients and communities," said Sandy Sharman, Group Head, People, Culture and Brand at CIBC. "To support them in making a meaningful difference every day, we are focused on creating an environment where everyone, including CIBC team members, can achieve their ambitions."

TORONTO, Nov. 7, 2024 /CNW/ - CIBC (TSX: CM) (NYSE: CM) will be announcing its 2024 fourth quarter results for the quarter ended October 31, 2024, on Thursday, December 5, 2024. The results are expected to be released at approximately 5:30 a.m. (ET), followed by a live audio webcast and teleconference call with analysts, investors and media at 7:30 a.m. (ET). 

Earnings Conference Call/Webcast

TORONTO, Oct. 31, 2024 /CNW/ - CIBC is proud to announce that Jaimie Lickers, Senior Vice President of Indigenous Markets, has been named one of Canada's Most Powerful Women by the Women's Executive Network (WXN). This prestigious award celebrates the outstanding contributions and leadership of women across the country.

Since joining CIBC in 2020, Jaimie has been a driving force in advancing both the bank's Indigenous Markets business as well as our economic reconciliation efforts. Under her leadership, CIBC has strengthened partnerships with Indigenous communities, expanded our financial products and services for Indigenous clients, and has been recognized as a PAIR Silver-certified organization by the Canadian Council for Indigenous Business.

TORONTO, Oct. 29, 2024 /CNW/ - CIBC (TSX: CM) (NYSE: CM) today announced the public offering in the United States of US$500 million of 6.950% Fixed Rate Reset Limited Recourse Capital Notes Series 5 (Non-Viability Contingent Capital (NVCC)) (Subordinated Indebtedness) (the "LRCNs").

The LRCNs will bear interest at a rate of 6.950% annually, payable quarterly, for the initial period ending on, but excluding, January 28, 2030. Thereafter, the interest rate on the LRCNs will reset every five years at a rate equal to the prevailing 5-year U.S. Treasury Rate plus 2.833%. The LRCNs will mature on January 28, 2085. The expected closing date of the offering is November 5, 2024.

TORONTO, Oct. 25, 2024 /CNW/ - CIBC announced today that it received the highest score in customer satisfaction among the big 5 Canadian banks, according to the J.D. Power 2024 Canada Small Business Banking Satisfaction Study, marking the second year in a row the bank has received this first-place ranking.

"Being recognized by J.D. Power as the leading bank in small business satisfaction for two consecutive years is a reflection of our bank's ongoing commitment to our clients and to helping Canadian small businesses succeed," said Andrew Antoniadis, Senior Vice-President, Business Banking and Cash Management, CIBC. "At CIBC, we understand and recognize the impact small businesses have on our economy and in our communities across the country. It's a privilege to work closely with dedicated clients to help make their ambitions real."

TORONTO, Oct. 24, 2024 /CNW/ - CIBC (TSX: CM) (NYSE: CM) – CIBC Asset Management Inc. today announced the October 2024 cash distributions for CIBC ETFs and ETF Series of the CIBC Fixed Income Pools, which distribute monthly.  

Unitholders of record on October 31, 2024, will receive cash distributions payable on November 5, 2024. Details of the final "per unit" distribution amounts are as follows:

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."