More Hours, More Sundays, More Banking

CIBC doubles the number of branches open Sunday, adds more Saturday branches and adds more hours during the week

TORONTO, Oct. 1, 2012 /CNW/ - CIBC (TSX:CM) (NYSE: CM) announced today that it is doubling the number of branches open on Sundays, opening another 92 branches on Saturdays and staying open later on weekdays at branches across the country to better meet the needs of Canadians' busy lives.

"Canadians are increasingly looking to sit down with their advisor to build a financial plan when it best suits their schedule," said Christina Kramer, Executive Vice-President, CIBC. "For many Canadians, this is only possible on weekends.  So whether it's after work or after the kids have been dropped off at hockey practice on the weekend, we now provide clients greater flexibility as to when they want to bank with us."

CIBC first opened select branches on Sundays in 2007, and now has over 100 Sunday hour branches, more than 600 open on Saturdays.

In research released earlier this year from CIBC and Harris/Decima, only 49 per cent of Canadians had met with an advisor in the last 12 months. Those that had met with a financial advisor were more likely to feel positive about their financial situation today (69 per cent) versus those who had not met with an advisor (60 per cent). They were also more likely to feel confident about reaching their future goals (77 per cent vs 69 per cent).

"With Canada's boomers rapidly approaching retirement, and many Canadians focused on managing debt as part of their financial plans, it's never been more important to meet with an advisor to ensure you are taking the right steps towards your financial goals," adds Ms. Kramer. "We believe in the value of these conversations, and we're now expanding our hours to give more Canadians an opportunity to achieve what matters to them."

Along with CIBC's network of close to 1,100 conveniently located branches, CIBC also offers its clients access to more than 3,500 ABMs, 24/7 telephone and mobile banking services and Canada's leading online banking site, cibc.com.

CIBC is a leading North American financial institution with nearly 11 million personal banking and business clients. CIBC offers a full range of products and services through its comprehensive electronic banking network, branches and offices across Canada, and has offices in the United States and around the world. You can find other news releases and information about CIBC in our Press Centre on our corporate website at www.cibc.com.

SOURCE: CIBC

Media contact: Sean Hamilton, Communications and Public Affairs, CIBC at 416-304-8456, [email protected]