Our Businesses

At CIBC, we have a relentless focus on our clients. Our goal is to be #1 in client experience.

Our four main businesses, Canadian Personal and Small Business Banking, Canadian Commercial Banking and Wealth Management, U.S. Commercial Banking and Wealth Management, and Capital Markets are focused on helping our clients prosper and grow.

Photo CIBC representatives in banking centre

Canadian Personal and Small Business Banking

Learn more

Image

Canadian Commercial Banking and Wealth Management

Learn more

Image

U.S. Commercial Banking and Wealth Management

Learn more

Photo CIBC representatives on trading floor

Capital Markets

Learn more

Canadian Personal and Small Business Banking

Canadian Personal and Small Business Banking provides personal and business clients across Canada with financial advice, products and services through a team in our banking centres, as well as through our direct, mobile and remote channels.

Our business strategy

Our goal is to build a modern consumer and small business relationship bank by focusing on three key strategic priorities:

  • Winning at relationships
  • Delivering market-leading solutions
  • Being easy to bank with

2018 progress

In 2018, we made good progress on our strategy.

Winning at relationships

  • For the fourth consecutive year, CIBC was ranked #1 in the Investment Executive magazine’s Report Card on Banks, as voted on by our advisors.
  • Introduced new specialized business advisor roles, focused on tailored advice and solutions for business owners, in addition to proactively connecting with thousands of existing and potential business clients through community outreach days.
  • Continued to invest in mobile advice for clients, bringing banking to our clients on their terms.
  • Launched an enhanced advisor capability program to further reinforce the existing capabilities of our Financial Advisors in our Imperial Service offer across Canada – including a focus on accreditation and financial planning.

Delivering market-leading solutions

  • Introduced a suite of U.S. banking solutions for Canadians transacting south of the border including the CIBC U.S. Personal Account, CIBC Bank USA Smart Account, and a U.S. Dollar Aventura Gold Visa Card.
  • Launched enhancements to our premium Aventura Visa card offer, including lounge access and Nexus card rebates.
  • For business owners and professionals in Canada, we introduced the CIBC Advanced Business Operating Account and CIBC Business Plus Credit Cards to help meet the diverse needs of our clients.

Being easy to bank with

  • Launched Simplii Financial, CIBC’s direct banking brand in Canada, and continued to invest in enhancing products and services for clients.
  • Earned the top score among the five largest Canadian banks for mobile banking for the fifth year in a row in Forrester Research's Mobile Banking benchmark study.
  • Won the Retail Banker International Bestno Branch Strategy award which aligns with our recently completed 150th banking centre transformation. This award recognizes the progress we have made in transforming our network to reflect evolving client needs.
  • Launched new digital credit card features to enhance the client experience, including features like Lock My Card which allows clients to lock their card remotely using their mobile device if they have lost it or suspect fraud.
  • Over the past year, continued to remove time spent on administration-related activities from our banking centres, including implementing cheque imaging and electronic processing, as well as reducing wait times. These efficiencies provide more time for our team members to serve clients.

Our focus for 2019

We are continuing to deliver on our strategy with a clear focus on meeting the needs of our clients. Our priorities in 2019 are:

  • Winning at relationships through deeper needs-based conversations including more financial planning;
  • Delivering market-leading solutions that offer clients great value and benefits, are easy to use and provide a more focused product line; and
  • Being easy to bank with by implementing meaningful process enhancements and helping clients experience the ease of managing their day-to-day banking.

Canadian Personal and Small Business Banking Financial Review

Canadian Commercial Banking and Wealth Management

Canadian Commercial Banking and Wealth Management provides high-touch, relationship-oriented banking and wealth management services to middle-market companies, entrepreneurs, high-net-worth individuals and families across Canada. In addition, we provide asset management services to institutional investors.

Our business strategy

We are focused on building and enhancing client relationships, being Canada’s leader in financial advice and generating long-term consistent growth. To deliver on this, our three strategic priorities are:

  • Scaling commercial banking
  • Increasing agility and efficiency in wealth management
  • Deepening client relationships across our bank

2018 progress

In 2018, we made good progress on our strategy.

Scaling commercial banking

  • Launched CIBC Innovation Banking, a business that delivers strategic advice and banking services to North American technology and innovation clients at each stage of their business cycle, from start-up to initial public offering and beyond.
  • Expanded our commercial banking team by adding cash management client service representatives, and allocated relationship managers to help meet the unique needs of public sector, professional services and
    not-for-profit companies.
  • Continued to meet clients’ needs on both sides of the border through cross-border client referrals with CIBC Bank USA.

Increasing agility and efficiency in wealth management

  • Launched the CIBC Multi-Asset Absolute Return Strategy, an alternative investment fund that aims to generate positive returns and manage volatility for clients in all market conditions.
  • Continued to focus on enhancing value for our clients by finding opportunities to simplify our product lineup and optimize costs.

Deepening client relationships across our bank

  • Completed over 28,000 new financial plans for priority clients.
  • Co-located private bankers and commercial bankers in select locations across Canada to deliver a more integrated offer for clients.
  • Increased partnership referrals between private wealth management and commercial banking, deepening client relationships.

Our focus for 2019

To build on our momentum across Canadian Commercial Banking and Wealth Management, we will continue to focus on client relationships by:

  • Developing and deepening client relationships through a full-service solutions-based approach that includes commercial and private banking, as well as wealth management services;
  • Investing in financial planning in support of our goal of being Canada’s leader in financial advice; and
  • Simplifying and optimizing our business to align with changing market dynamics, and to better meet the needs of our clients.

Canadian Commercial Banking and Wealth Management Financial Review

U.S. Commercial Banking and Wealth Management

U.S. Commercial Banking and Wealth Management provides high-touch, relationship-oriented commercial, personal and small business banking, as well as wealth management services to meet the needs of middle-market companies, executives, entrepreneurs, high-net-worth individuals and families in the markets we serve in the U.S.

Our business strategy

Our goal is to build the go-to commercial and wealth management bank for our chosen client segments and markets with a focus on developing deep, profitable relationships leveraging the full complement of CIBC’s products and services across our North American platform. To deliver on this, our three key strategic priorities are:

  • Growing organically through long-term client relationships
  • Enhancing our U.S. platform
  • Investing to serve our clients

2018 progress

In 2018, we made strong progress on our strategy.

Growing organically through long-term client relationships

  • Achieved revenue growth, reflecting solid business performance and our continued focus on building full, profitable client relationships.
  • Generated solid loan and deposit growth, as we continue to capitalize on referral opportunities to do more for our combined North American client base.
  • Generated strong growth in AUM and AUA and added private banking services for wealth management clients, reflecting continued client development efforts.

Enhancing our U.S. platform

  • Leveraged the combined strengths and resources of CIBC to better serve clients with cross-border banking needs and to expand relationships with U.S. large corporate clients.
  • Maintained focus on strong asset quality, which overall remained stable.
  • Unified the North American wealth business under the CIBC Private Wealth Management name to communicate the robust complement of investment management, wealth planning, trust and private banking services that we provide to our clients and their families.

Investing to serve our clients

  • Managed expenses while appropriately investing in our growth, with an efficiency ratio of 57.9% for 2018.
  • Introduced the CIBC Bank USA Smart Account, giving Canadian clients a U.S. based account that links to their Canadian accounts, and the CIBC Agility online savings account for U.S. clients, providing an important granular deposit-generating and brand-building platform.
  • Opened three new commercial banking offices and added private bankers to existing CIBC Private Wealth Management offices, adding a full complement of solutions in key markets.

Our focus for 2019

We are building a relationship-focused bank. To build on our momentum, we will continue to align our focus in 2019 to CIBC’s overall strategy and priorities. We will do this by:

  • Growing organically by adding and deepening our client relationships and selectively entering additional markets and specialty businesses;
  • Continuing to build a strong U.S. operating platform by investing appropriately in our growth, while managing expenses; and
  • Ensuring we maintain our risk discipline through selective evaluation of new opportunities, portfolio diversification, and quality of funding sources.

U.S. Commercial Banking and Wealth Management Financial Review

Capital Markets

Capital Markets provides integrated global markets products and services, investment banking advisory and execution, corporate banking and top-ranked research to corporate, government and institutional clients around the world.

Our business strategy

Our goal is to be the leading capital markets franchise for our core clients in Canada and the lead relationship bank for our key clients globally by delivering best-in-class insight, advice and execution. To enable CIBC’s strategy and priorities, we collaborate with our partners across our bank to deepen and enhance client relationships. To deliver on our goal, our three key strategic priorities are:

  • Becoming the leading capital markets platform in Canada for our core clients
  • Building a North American client platform with global capabilities
  • Increasing connectivity across CIBC to deliver better service for clients

2018 progress

In 2018, we made good progress on our strategy.

Becoming the leading capital markets platform in Canada for our core clients

  • Continued to hold leadership positions in syndicated loans, debt and equity underwriting, advisory services, equity trading, commodities and foreign exchange.
  • Supported our clients by investing in our talent, further developing our proprietary technology, expanding our structuring expertise and advice, and leveraging our market expertise.
  • Strengthened our platform by continuing to evolve our research coverage framework and provide specialized advice and solutions, aligned to the macro trends influencing the global economy and our clients.
  • Continued to shape our business around the new economy, building out dedicated teams in areas such as renewable energy, private capital, innovation, and infrastructure.

Building a North American client platform with global capabilities

  • Completed the systems integration of U.S. based clients into our Chicago-based capital markets platform, enabling us to offer broader products and services to U.S. and cross-border clients.
  • Expanded our investment banking leadership and debt and equity capital markets and advisory talent to support commercial and corporate clients.
  • Launched our new U.S. Prime Service business, focused on meeting the needs of U.S. based alternative asset managers and other cross-border clients, and furthering our North American platform for growth.

Increasing connectivity across CIBC to deliver better service for clients

  • Strengthened our no-fee CIBC Global Money Transfer service by increasing the number of countries to 75 and launching Remi, a chatbot making it easier for clients to send money abroad.
  • Digitalized our Foreign Cash offering enabling online check-out with flexible delivery options to a home address, a CIBC Banking Centre, or Toronto Pearson Airport, increasing convenience for our clients.
  • Launched our International Student Banking Offer providing international students with access to essential financial solutions to support their new lives in Canada including bank accounts and GICs.
  • Restructured our client teams to enhance partnerships with Commercial Banking and Wealth Management to bring our suite of wealth and capital markets solutions to small businesses, family offices, ultra high-net-worth clients, foundations and endowments.

Our focus for 2019

To support our bank's long-term objectives, Capital Markets remains focused on driving client-focused growth and collaborating with our partners across our bank to deepen and enhance client relationships. We will continue to do this by:

  • Strengthening our leadership positions in Canada through our focused approach to client coverage;
  • Growing our North American platform by further expanding our U.S. reach and broadening the services offered to clients, including the rollout of our U.S. Prime Service business, continued collaboration across teams in the U.S. to meet the needs of cross-border and U.S. domiciled clients across corporate and commercial markets; and
  • Strengthening our connectivity, technology and innovation efforts to bring more of our bank’s offering to our clients, including leveraging dedicated resources to drive growth and deepen relationships with personal banking, high-net-worth, and commercial banking clients.

Capital Markets Financial Review