STOCK TITAN

Canadian Imperial Bank of Commerce - CM STOCK NEWS

Welcome to our dedicated page for Canadian Imperial Bank of Commerce news (Ticker: CM), a resource for investors and traders seeking the latest updates and insights on Canadian Imperial Bank of Commerce stock.

Canadian Imperial Bank of Commerce (CIBC), established in 1867, is a premier global financial institution headquartered in Toronto, Canada. As Canada's fifth-largest bank, CIBC provides a comprehensive range of financial products and services to over 11 million clients globally, including retail and business banking, wealth management, and capital markets.

Retail and Business Banking: CIBC offers personalized, flexible, and straightforward banking services to meet the diverse needs of its clients. Its innovative products and services ensure that banking is convenient and accessible, allowing customers to manage their finances efficiently.

Wealth Management: The bank's wealth management segment provides expert financial advice, customized solutions, and a broad array of investment services. CIBC’s goal is to help clients build and manage their wealth effectively.

Capital Markets: CIBC's capital markets division offers a range of services, including investment banking, corporate banking, advisory, and trading solutions. The bank leverages its extensive expertise to provide clients with innovative and effective financial strategies.

Recently, CIBC announced an amendment to its CARDS II securitization program, allowing revenue from Mastercard credit card accounts to be included, alongside Visa accounts. This move underscores CIBC’s commitment to adapting its offerings to meet market demands and enhance its financial stability.

CIBC's focus on innovation and its core values of trust, teamwork, and accountability have earned it recognition as one of Canada's top employers. The bank’s expansive digital network and extensive locations across North America further its mission to deliver superior financial services.

For ongoing updates and more detailed information about CIBC’s latest developments, visit the CIBC Media Centre.

Rhea-AI Summary

CIBC has expanded its partnership with The Cognizant Classic in The Palm Beaches, becoming the official Private Wealth and Commercial Banking Partner of the PGA TOUR event. The multi-year extension includes entitlement rights to the Champions Club and presenting sponsorship of the Women's Leadership Forum. The 2024 tournament distributed over $6.5 million to charitable organizations, including $2 million to Nicklaus Children's Health Care Foundation. The event will return to PGA National Resort's Champion Course from February 26 to March 2, 2025.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.5%
Tags
partnership
-
Rhea-AI Summary

CIBC has renewed its partnership with the Chicago Blackhawks for five more years through the 2028-2029 season, extending their 15-year relationship. The partnership includes the introduction of the CIBC Platinum Club for glass-level members at United Center games, offering enhanced fan experiences and arena branding. CIBC will continue as the presenting sponsor for Hockey Fights Cancer initiatives with an annual $20,000 donation. The collaboration also includes participation in CIBC's Miracle Day, supporting kids in need, demonstrating both organizations' commitment to community impact.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.4%
Tags
partnership
-
Rhea-AI Summary

CIBC has announced a donation of US$100,000 to the American Red Cross to support Hurricane Milton relief efforts. This donation is in addition to a previous US$100,000 contribution made earlier this month for Hurricane Helene relief. Shawn Beber, Senior Executive Vice-President and Group Head of CIBC US Region, and President and CEO of CIBC Bank USA, expressed solidarity with affected Florida communities. CIBC encourages individuals and companies to donate to the American Red Cross to support ongoing disaster relief activities.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.32%
Tags
none
Rhea-AI Summary

CIBC has announced a US$100,000 donation to the American Red Cross to support Hurricane Helene relief efforts. Shawn Beber, Senior Executive Vice-President and Group Head, CIBC US Region and President and CEO, CIBC Bank USA, expressed solidarity with clients and team members across North America in supporting those impacted by the hurricane.

The bank is encouraging individuals and companies to contribute to the American Red Cross for ongoing disaster relief efforts. Funds raised will enable the Red Cross to provide immediate and ongoing relief activities in response to the widespread disaster caused by Hurricane Helene.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.76%
Tags
none
-
Rhea-AI Summary

CIBC US has announced that its CIBC Agility™ Certificate of Deposit (CD) has been named 'Best Short-Term CD' in the 2024 Smart Money Awards by REAL SIMPLE. This recognition underscores CIBC's commitment to offering innovative financial products that address clients' evolving needs. The CIBC Agility CD combines competitive interest rates with flexible terms, ranging from 9 to 30 months, allowing clients to choose a duration that aligns with their financial goals. Dan Sullivan, Jr., head of Private and Personal Banking at CIBC US, emphasized that the product is designed to help Americans save for their future while providing peace of mind.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.37%
Tags
none
-
Rhea-AI Summary

CIBC US has been awarded the Bronze US President's Volunteer Service Award from Junior Achievement for the 2022-2023 school year. This is the second consecutive year CIBC has received this accolade, which honors organizations and individuals contributing over 1,500 volunteer hours. The award, announced in Washington, D.C., recognizes CIBC's commitment to volunteer services aimed at empowering young people.

Kristen Freund, managing director at CIBC, highlighted the bank's dedication to community service, emphasizing their efforts to provide financial literacy and work readiness education to students. Over the past 11 years, more than 3,300 CIBC professionals have volunteered, impacting over 25,000 students.

CIBC is a major North American financial institution serving 14 million clients with a broad range of banking and wealth management services. The company continues to prioritize community engagement and volunteerism as part of its broader mission.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.09%
Tags
none
Rhea-AI Summary

CIBC Innovation Banking has led a senior syndicated debt commitment for Yipit, a New York-based alternative data insights provider. The debt facility aims to support YipitData's growth and leadership in the alternative data sector. YipitData analyzes billions of data points daily, offering insights on over 2,000 companies to investment funds and large corporations. This new facility replaces an existing credit arrangement, reducing borrowing costs and providing greater financial flexibility. YipitData's existing investors include Carlyle and Norwest Venture Partners.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.13%
Tags
none
-
Rhea-AI Summary

CIBC US has been named Corporate Partner of the Year by The Housing Partnership for its dedication to affordable housing. This recognition, awarded for the second time, highlights CIBC's commitment to providing homebuyer education, counseling, and down payment assistance to low- and moderate-income families.

Through its partnership, CIBC has significantly impacted many families by offering essential resources to navigate the homebuying process, including critical home improvement products and services.

Steve Bahru, a senior community lender at CIBC, has been instrumental in this success, conducting financial literacy and homebuyer seminars for over a decade.

This award underscores CIBC's mission to ensure everyone has a secure place to call home.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.45%
Tags
none
-
Rhea-AI Summary

CIBC US has been honored with the Urban League Corporate Partner of the Year award for its dedication to supporting entrepreneurs in St. Louis. The award recognizes CIBC's collaboration with the Urban League of Metropolitan St. Louis, Inc. Women's Business Center, a partnership that began in 2018. CIBC has provided financial support and educational programs, such as the 'Ready, Set, Launch' training initiative, to empower over 1,000 small business owners, particularly female entrepreneurs. Amy Yuhn, Head of US Personal and Community Development Banking at CIBC, emphasized the importance of enabling small businesses to grow and succeed. CIBC serves 14 million clients globally and offers a range of banking and wealth management services in the US and Canada.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.61%
Tags
none
Rhea-AI Summary

CIBC announced an amendment to its CARDS II securitization program, allowing revenue from Mastercard credit card accounts to be included in addition to Visa credit card accounts. This change offers more flexibility to the program and enhances diversification. The securities issued by CARDS II Trust have not been registered under the U.S. Securities Act of 1933. CIBC is a prominent North American financial institution serving millions of clients across various sectors.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.88%
Tags
none

FAQ

What is the current stock price of Canadian Imperial Bank of Commerce (CM)?

The current stock price of Canadian Imperial Bank of Commerce (CM) is $64.89 as of November 20, 2024.

What is the market cap of Canadian Imperial Bank of Commerce (CM)?

The market cap of Canadian Imperial Bank of Commerce (CM) is approximately 61.0B.

What services does CIBC offer?

CIBC provides retail and business banking, wealth management, and capital markets services to over 11 million clients globally.

When was CIBC founded?

Canadian Imperial Bank of Commerce (CIBC) was founded in 1867.

What recent changes has CIBC made to its securitization program?

CIBC amended its CARDS II securitization program to include revenue from Mastercard credit card accounts, alongside Visa accounts.

Why is CIBC considered a top employer in Canada?

CIBC is recognized for its culture of innovation, trust, teamwork, and accountability, offering fulfilling career opportunities and growth.

How many clients does CIBC serve?

CIBC serves approximately 11 million personal banking and business customers worldwide.

Where can I find the latest news about CIBC?

The latest updates and news releases about CIBC can be found at the CIBC Media Centre on their official website.

What segments does CIBC operate in?

CIBC operates in retail and business banking, wealth management, and capital markets segments.

How does CIBC ensure its services are convenient for customers?

CIBC offers innovative products and services through its leading digital banking network and numerous locations across North America.

Where is CIBC headquartered?

CIBC is headquartered in Toronto, Canada.

What is the significance of the CARDS II securitization program amendment?

The amendment allows CIBC to diversify and potentially increase revenue by including Mastercard credit card accounts in the program.

Canadian Imperial Bank of Commerce

NYSE:CM

CM Rankings

CM Stock Data

61.05B
944.22M
0.02%
52.5%
1.42%
Banks - Diversified
Financial Services
Link
United States of America
Toronto