CIBC is one of the oldest and most respected banks in Canada. Founded in 1867, CIBC has been a part of Canada’s banking history for over 150 years.
From its early days as a small bank in Toronto, CIBC has grown to become one of the big five banks in Canada, with branches across the country.
In its early days, CIBC was known as the Canadian Bank of Commerce. The bank was founded by businessman George A. Cox who believed that Canadian businesses needed a bank that could provide them with the financing they needed to grow.
The Canadian Bank of Commerce was the first bank in Canada to offer finance to businesses, and it quickly became a leading lender to Canadian businesses.
During the Great Depression, CIBC was one of the few banks in Canada that did not fail. The bank’s prudent lending practices and strong financial position allowed it to weather the economic downturn and emerge even stronger.
Following the Second World War, CIBC expanded rapidly across Canada as the country’s economy boomed. Today, CIBC is one of the largest banks in Canada, with over 1,000 branches and over 40,000 employees nationwide.
CIBC is one of Canada’s leading banks dating back to 1867. The bank has weathered economic downturns and remained a solid financial institution thanks to its prudent lending practices and strong financial position.
Today, CIBC is one of the largest banks in Canada, with over 1,000 branches and over 40,000 employees nationwide. If you’re looking for a bank with a long history of stability and success, look no further than CIBC.
Recent History
CIBC is a leading North American financial institution. In 2017, they launched Mobile PayPass in Canada, which allows customers to make contactless payments with Android Pay and Apple Pay.
In November 2017, Scott Wagner succeeded Victor Dodig as President & CEO. A new five-year $40 billion share buyback program was announced, and an annual dividend of $3.33 per share starting in 2018.
In March 2018, CIBC announced it would close its offices in 17 countries and reduce its workforce by approximately 10%. The office closures were completed by the end of September 2018, saving $100 million annually.
In December 2018, CIBC was included in Fortune’s “World’s Most Admired Companies” list for the first time and was ranked #5 out of 50 banks worldwide. In 2019, they ranked first for customer service among the Big Five banks according to J.D. Power’s Canadian Retail Banking Customer Satisfaction Study three years in a row.
They also ranked number one for digital functionality for mobile banking and online banking among the Big Five banks, according to Forrester Research Inc.’s 2019 Canadian Retail Banking Functionality Benchmark report two years in a row.
In February 2020, Mobius Rewards was launched, giving clients more choice and flexibility when redeeming their rewards points with any merchant that accepts Mastercard – in-store or online.
In March 2020, due to the COVID-19 pandemic, CIBC announced several measures to support their personal and small business clients, including deferral options on mortgage payments for up to six months and enhanced credit availability.
In May 2020, CIBC committed $10 million over two years to support Black communities in Canada, with immediate funding going towards organizations such as the Black Legal Action Centre, Black Medical Association of Canada Foundation and Canadian Association of Black Journalists Scholarship Fund.
Service Reliability
For CIBC customers in Canada, reliable service is of the utmost importance. Whether it’s online banking, bill payments, or ATM withdrawals, we rely on these services to manage our day-to-day financial lives. That’s why CIBC must maintain a high level of service reliability.
Unfortunately, outages can still happen from time to time. But thanks to this page that collects service outage reports, customers can stay informed and take steps to minimize any inconvenience.
Reliable service is vital for both CIBC and its customers in today’s world, where convenience is a top priority. Ensuring that customers have continuous access to their banking services is crucial for success.
Outages map and statistics
Are you a CIBC customer experiencing technical difficulties? Our new Outage Map can help. This tool geolocates received reports of outages and displays them on a map. This way, users can see where there may be service disruptions in Canada.
In addition to showing the location, the map also includes information on the number of affected customers and the estimated resolution time. So next time you’re having trouble with your CIBC account, check out the Outage Map to see if it may be a broader issue.
The second chart shows the number of outage reports received for CIBC today and compares it to the same day last week. The blue line represents the number of reports received today, while the gray line shows the number of reports received on the same day last week.
If it appears that there were fewer outage reports received this week compared to last week, this might be due to several reasons. However, there might also be seasonal spikes in the number of reports, indicating that there may have been issues during specific hours of the day.
The third chart on the page displays the number of reports received every day by CIBC since January 1st.
This information can help track the company’s performance over the course of the year. By comparing the current numbers to past years or even past months, users can get an idea of how well CIBC is performing and if there are any trends or updates to be aware of.
Overall, readily available information helps ensure that the users stay informed and up-to-date on yearly performance.
Most common problems reported in the last 48 hours
The table below shows CIBC customers’ most frequent problems reported in the last 48 hours.
Are you currently experiencing problems with CIBC? Share your thoughts, tips, and frustrations with others using the form below.
