Canadian Imperial Bank of Commerce: CIBC’s sale of FirstCaribbean stake is credit positive
CIBC's sale of majority stake in FirstCaribbean will significantly reduce its presence in the Caribbean, a region with persistently weak economic conditions.Canadian Imperial Bank of Commerce is a financial institution. Through its three business units, Co. provides a range of financial products and services to individual, small business, commercial, corporate and institutional clients in Canada and around the world. Co.'s Retail and Business Banking business unit provides financial advice, products and services. Co.'s Wealth Management business unit provides integrated advice and investment solutions. Co.'s Capital Markets business unit provides integrated credit and global markets products, investment banking advisory services and research. As of Oct 31 2017, Co. had total assets of C$565.26 billion and total deposits of C$439.71 billion.
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