Mergers & Amalgamations
Mergers have played an important role in shaping Canadian banks, and CIBC is no exception. The Canadian Imperial Bank of Commerce was created through the merger of the Imperial Bank of Canada and The Canadian Bank of Commerce in June 1961. However, CIBC as we know it today is the product of the amalgamation of fourteen banks.
The Canadian Bank of Commerce
Through mergers and amalgamations, The Canadian Bank of Commerce (established in 1867) grew from a regional bank, with its business centred in Ontario, to a national bank. By acquiring banks with a strong regional presence, The Commerce was able to expand into the Maritimes, Quebec and British Columbia.
The Imperial Bank of Canada
The Imperial Bank of Canada (established in 1875) also acquired other banks - first to establish its position in southern Ontario, and later to develop its branch network across Canada.
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