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With its expenses soaring, the Toronto company has taken a $250 million restructuring charge to cover severance from staff reductions.February 26
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The Toronto firm, Canada’s fifth-largest lender by assets, must keep “a careful eye on costs” and improve efficiency, its CEO said in a corporate memo.January 31
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The country's top six banks were sideswiped by rising provisions for soured loans and slumping capital markets.December 5
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Five years into Victor Dodig's time as chief executive officer of CIBC, the performance gap between Canada's fifth-largest bank and its peers is as wide as ever.November 19
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Online lenders now have close to 40% of the unsecured personal loan market, much of which is refinanced credit card debt. Banks' card portfolios are taking a hit.May 23
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The two lenders are bucking the trend for the overall industry, which saw year-over-year mortgage growth slide to a 17-year low in March, according to the Bank of Canada.May 23
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Canada is making a big leap in modernizing identity verification, tapping blockchain technology to let consumers digitally prove who they are to securely access banking and other personal services.May 1
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A potential succession and a transfer of power in family leadership are among the key recent executive moves in banking.March 12
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Michael Capatides, CIBC's chief administrative officer and general counsel, will take over as CEO of CIBC Bank USA on April 1, replacing Larry Richman.March 7
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A deceleration in mortgage balances ends CIBC's three-year streak of outpacing Canada's other large lenders on mortgage growth. Royal Bank of Canada said this week that mortgage balances were 5.9% higher than a year earlier.August 23
