CIBC cuts jobs, shuffles executives in CEO cost-cutting mission


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


CIBC plans job cuts, joining Canadian peers in savings quest


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.


TD, CIBC earnings misses cap hard quarter for Canadian banks


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


CIBC's 'day late and a dollar short' missteps sour investors


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.


Once dismissive of fintechs, traditional lenders now feeling their bite


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.


TD, Royal Bank defy Canadian housing slump with loan growth


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.


Blockchain adopted by Canadian banks to verify client identities


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.


First Republic, Stearns Bank and CIBC: Bankers on the Move


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


CIBC taps longtime insider to head U.S. operations


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.


CIBC's 3-year streak of outpacing rivals on mortgages ends


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.