CIBC Recognized for Innovation and Client Service by International Banker magazine

TORONTO, Feb. 24, 2015 /CNW/ - CIBC (TSX: CM) (NYSE: CM) today announced that it has received awards for innovation and client service from UK based magazine International Banker. CIBC received awards in two categories - Best Innovation in Retail Banking for Canada, and Best Customer Service Provider for North America.

The award for Best Innovation in Retail Banking in Canada is based on CIBC's culture of innovation to meet the needs of clients, both today and in the future. According to International Banker, CIBC has demonstrated itself to be a leader in this area through numerous "first to market" innovations in mobile financial services.

"Our focus on innovation is making a difference to the client experience, and this recognition further reinforces how important these investments are to our clients and our bank," says David Williamson, Senior Executive Vice President and Group Head, Retail and Business Banking, CIBC. "As we continue to invest in our business, our goal is to make banking easy, personalized and flexible for our clients, which we believe is the key to building deeper client relationships."

The second award to CIBC for Best Customer Service Provider for North America was based in part on CIBC's focus on the banking experience across channels depending on a client's preferences. In addition, CIBC's investments in 2014 to enhance the in-branch experience and deepen relationships with clients through the new COMPASS system were also recognized. COMPASS reduces the time it takes to start a deeper banking relationship and pre-approves certain credit products based on client needs.

"Changes in client needs are reshaping what it takes to deliver a great client experience, as client preferences have shifted towards a mix of digital channels for everyday banking coupled with personalized advice when discussing financial goals," adds Mr. Williamson. "By delivering firsts in mobile innovation coupled with a focus on the client experience in our branches, our clients benefit from banking when, where, and how they want."

About International Banker

International Banker is the flagship brand of Finance Publishing. Finance Publishing is one of the world's leading sources of authoritative analysis on finance, international banking and world affairs. It delivers information with excellence through a wide range of accessible formats, from newsletters and magazines to conferences. For more information, please visit: http://internationalbanker.com/

About CIBC

CIBC is a leading Canadian-based global financial institution with nearly 11 million personal banking and business clients. Through our three major business units - Retail and Business Banking, Wealth Management and Wholesale Banking - CIBC offers a full range of products and services through its comprehensive electronic banking network, branches and offices across Canada with offices in the United States and around the world. You can find other news releases and information about CIBC in our Media Centre on our corporate website at www.cibc.com.

SOURCE CIBC