Top 6 cibc.com Alternatives & Competitors (2024)

FAQs

Who are the competitors of CIBC? ›

CIBC's competitors and similar companies include Power Corporation of Canada, Desjardins, Toronto-Dominion Bank, Royal Bank of Canada, Scotiabank and Bank of Montreal. Canadian Imperial Bank of Commerce (CIBC) is a financial institution that provides its clients with banking services.

Who CIBC is best for. Canadians who want to keep all their finances in one place, value online banking, and like the option of in-person banking. CIBC has product offerings that are similar to the other big banks, offering account bonuses, rewards and discounted fees.

The banking industry in Canada is dominated by the five largest banks in the country: Toronto-Dominion Bank (TD Bank), Royal Bank of Canada (RBC), Bank of Nova Scotia (Scotiabank), Bank of Montreal (BMO), and Canadian Imperial Bank of Commerce (CIBC).

Canadian Commercial Banking and Wealth Management provides high-touch, relationship-oriented banking and wealth management services to middle-market companies, entrepreneurs and high-net-worth individuals and families across Canada, as well as asset management services to institutional investors.

CIBC is financially strong and well capitalized. Our bank is well diversified with significant access to liquidity to meet client needs. We have a long history of standing by our clients through challenging times, and we will do so again.

Both banks have over a thousand branches, thousands of ATMs and a complete line of financial products for Canadians. For everyday banking, RBC has better standard features for a lower everyday price, while CIBC offers better discounts for students, seniors and those who maintain a minimum balance.

Equity Group and KCB have been ranked as the second and fifth strongest banking brands globally respectively in the 2024 Brand Finance's Brand Strength and Brand Value rankings.

The Big Six is a term that refers to the six largest banks in Canada. TD is the largest bank by revenue followed by the Royal Bank of Canada. The Bank of Montreal has head offices in both Montréal and Toronto. Scotiabank and CIBC are both based in Toronto.

Is CIBC bigger than RBC? ›

In modern history, Royal Bank (RBC) has always been the largest by a significant margin, although TD Bank has caught up to RBC in recent years. Up to the late 1990s, CIBC was the second largest, followed by Bank of Montreal, Scotiabank, and TD Bank.