Transforming to meet our clients’ evolving needs
At CIBC, we are innovating sensibly in ways that offer our clients real value, whether
that be better financial advice, an easier way to bank, or a way to manage their
company’s cash flow online, anytime. We’re listening to our clients, understanding
their needs and delivering innovation that makes a difference to them.
In the last year, we’ve successfully transitioned nearly two million clients to our new
direct banking brand, Simplii Financial. With straightforward, no-fee daily banking
and great rates, we’ll continue to grow this business by enhancing functionalities
and introducing new products for these clients who prefer to bank through online,
mobile or telephone banking.
With an ever-increasing number of day-to-day transactions conducted outside
of our banking centres, we’re continuing to transform our banking centres to
make financial advice the focus. Over the past three years, we transformed more
than 150 locations and, as a result, our teams are having more conversations and
laying the foundation for life-long client relationships. One indication of this is
the increased number of financial plans we’ve put in place for our clients, helping
ensure our clients achieve their goals – whether that be buying a home, saving for
retirement, or building a business.
In addition, our commitment to enhancing existing technologies and building
new digital solutions that provide our clients with greater convenience to manage
their banking has earned us industry recognition from Forrester. For the fifth
straight year, CIBC received the top overall ranking in mobile banking functionality
and user experience.
We’ve established a strong cross-border platform from which to serve our
clients and deliver growth to our shareholders.
Building stronger communities for a better future
At CIBC, we are committed to making a significant and lasting contribution to the well-being of the
people and communities we serve. We recognize the importance of socially responsible investments
and are seeing a growing demand among our clients for investment solutions that contribute to a
better future. We’ve become a signatory of the United Nations-supported Principles for Responsible
Investment and stated our commitment to integrate environmental, social and corporate-governance
(ESG) factors into our investment practices.
We were the only Canadian bank to make the Corporate Knights Global 100 Most Sustainable
Corporations in 2018, placing in the top 2% of companies globally on our ESG performance.
Beyond our corporate support for the social and economic development of our communities, our team
members are our most passionate ambassadors, and care deeply about the places we call home. For
team CIBC, givieng back is personal and it comes from the heart and our desire to make our communities
better. Our team’s personal generosity – both through their donations and volunteerism – is something
we’re very proud of at our bank.
United as one team for our clients
Our team members are the face of our bank to our clients and our greatest resource. We are harnessing
the strength and capability of our approximately 44,000 team members to unlock the power of our
franchise and drive us forward.
We know that delivering the best of our bank to our clients starts with delivering the best experience
to our teams. That’s why we continue to focus on harnessing the strength and passion of our people.
Through our CIBC Leadership Institute and broader development focus, we will ensure we are instilling
an inclusive client-focused culture that delivers results for our stakeholders. The strength of our
team and approach is evident in our recognition as a top employer. Last year, we were named one of
Canada’s Top 100 Employers, a Best Diversity Employer, and amongst the Top Employers for Young
People. As we look to the future, we know that we need to continue to pioneer new approaches,
evolve our culture and attract and retain the best and the brightest. Our investment in our new global
headquarters, CIBC Square, is one visible sign of how we’re shaping our bank and culture to innovate,
collaborate and work as one team to help our clients prosper.
To the CIBC team, I’m incredibly proud of all the work our team is doing together to focus on our clients,
deliver value to our shareholders, and strengthen our communities. Thank you for your contributions.
To our clients, we are committed to continuing to earn your business each and every day, and we
appreciate the trust you place in us. And finally, to our shareholders, I would like to thank you for your
support and for motivating us to continually evolve. I’m excited about the opportunity for us to continue
to transform our bank, as we build a relationship-oriented bank for a modern world.
Victor G. Dodig
Chief Executive Officer