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RBC Posts 18% Profit Loss

RBC Posts 18% Profit Loss
Royal Bank of Canada (RBC) did not meet analyst expectations as it reported an 18% drop in the third quarter net income, due to a major drop in profits from its capital markets division. Canada’s largest bank has earned $1.28 billion in the quarter that recently ended, however it is down from the record $1.56 billion earned ... Full story
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CIBC Reports Increase in Profits

CIBC Reports Increase in Profits
Canadian Imperial Bank of Commerce (CIBC) has released their third quarter results, and it shows an increase in profits from the same period a year ago. This increase in profits is all thanks to strong gains seen in its personal and business banking divisions and shrinking provisions for bad loans. CIBC has ... Full story
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CIBC Names Best Consumer Internet Bank in Canada

CIBC Names Best Consumer Internet Bank in Canada
Canadian Imperial Bank of Commerce (CIBC) has been named the Best Consumer Internet Bank in Canada for the third year in a row by Global Finance Magazine in its 11th annual “World’s Best Internet Banks” competition. CIBC was chosen based on the overall strength of its online banking offerings include factors such ... Full story
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Banks Lower Mortgages

Banks Lower Mortgages
Five of Canada’s major banks have reduced their mortgage rates by one tenth of a percentage point. The popular five year closed mortgage rate will not sit at 5.49% annually at the Royal Bank of Canada (RBC), Bank of Montreal (BMO), Scotiabank, Canadian Imperial Bank of Commerce (CIBC) and National Bank of Canada (NBC). RBC took the ... Full story
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Banks Decrease Mortgage Rates

Banks Decrease Mortgage Rates
This week we saw big banks make adjustments to their mortgage rates. The banks which I will be focusing on is the Bank of Montreal (BMO), Canadian Imperial Bank of Commerce (CIBC), Toronto Dominion Bank (TD) and National Bank of Canada (NBC). The rate adjustments made were decreasing certain mortgages; these decreases ranged from 0.10% - 0.30%. ... Full story
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CIBC World Markets: U.S. and Canadian Economies to Avoid Double Dip Recession

CIBC World Markets: U.S. and Canadian Economies to Avoid Double Dip Recession
The U.S. and Canadian economies will be seeing growth slowly over the next six months, however they are unlikely to experience a double dip recession notes the CIBC’s Recession Probability Index (RPI). The index, which has a strong track record of forecasting recession, found that the odds of another U.S. recession occurring ... Full story
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Banks and Businesses Open Despite Saturday’s Events

Banks and Businesses Open Despite Saturday's Events
After the events of the G20 summit, Canada’s big banks are almost ready for normal business in Toronto’s downtown core. Bank of Montreal (BMO), Canadian Imperial Bank of Commerce (CIBC), Royal Bank of Canada (RBC), and Scotiabank have all reported that all of their bank branches will be open today. A TD Canada Trust branch located ... Full story
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CIBC Set to Acquire Canadian MasterCard Portfolio from Citigroup

CIBC Set to Acquire Canadian MasterCard Portfolio from Citigroup
Canadian Imperial Bank of Commerce (CIBC) has announced that it is broadening its place in the Canadian marketplace through the acquisition of a $2.1 billion credit card portfolio from Citigroup’s Canadian MasterCard business. With this acquisition, CIBC, which had more than $14 billion in outstanding credit card balances at ... Full story
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Canada’s Big Banks Report Boost in Profits

Canada's Big Banks Report Boost in Profits
Today, we have three of Canada’s big banks, Canadian Imperial Bank of Commerce (CIBC), Royal Bank of Canada (RBC), and TD Bank Financial Group report large gains in their second quarter profits. Despite these large gains, the earnings ... Full story
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CIBC Online Banking New Feature

CIBC Online Banking New Feature
Canadian Imperial Bank of Commerce (CIBC) has added even more convenience to your everyday banking. You are now able to transfer funds form your CIBC TSFA Tax Advantage Savings Account Online into your existing CIBC chequing or savings account or existing TFSA GICs holdings. Previously, for you to make transfers out of your TFSA accounts you were required to call CIBC Telephone Banking or visit a ... Full story
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