News Topic: CIBC

With its expenses soaring, the Toronto company has taken a $250 million restructuring charge to cover severance from staff reductions. ... Read full article

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. ... Read full article

The country's top six banks were sideswiped by rising provisions for soured loans and slumping capital markets. ... Read full article

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. ... Read full article

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. ... Read full article

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. ... Read full article

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. ... Read full article

A potential succession and a transfer of power in family leadership are among the key recent executive moves in banking. ... Read full article

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. ... Read full article

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. ... Read full article

There's a battle being waged by Bank of Montreal and its smaller rival, Canadian Imperial Bank of Commerce, as they compete against JP Morgan Chase and almost 200 other lenders in so-called "Chicagoland" — one of the toughest banking markets ... Read full article

The Canadian company's ambitions include opening a commercial banking office in Dallas and beefing up lending to the technology, construction engineering and the health care sectors. ... Read full article

That’s the question executives of publicly traded banks are asking themselves as they try to make sense of new — and somewhat vague — guidance from the SEC on procedures for disclosing data breaches. ... Read full article

Canadian Imperial Bank of Commerce and Bank of Montreal are alerting clients that "fraudsters" claimed to have accessed personal and financial information of some customers. ... Read full article

Royal Bank of Canada, CIBC and Toronto-Dominion have the capital to do deals, but they would rather use it to build out new business lines or expand into new markets than buy other banks. Here’s why. ... Read full article

The country's six largest lenders are approaching their strongest capital position since 2013, leaving them with enough resources to pursue acquisitions, buy back shares or build from within. That has the chiefs of Canada's big banks weighing ... Read full article

Canadian Imperial Bank of Commerce’s push to be less domestically focused is showing signs of success, thanks to its June takeover of Chicago-based PrivateBank. ... Read full article

The aim is not just to get consumers to act on a credit card offer or open a savings account, but to use the insight gleaned to build long-term relationships — without coming across as manipulators. ... Read full article