CIBC plans $100-million in upgrades

Article Abstract:

Canadian Imperial Bank of Commerce (CIBC) will allocate C$100 million for the modernization of its 148 bank branches in Alberta and British Columbia. The upgrade will include the renovation of the branches, modification of telephone banking services and the installation of 98 new bank machines in Calgary, Edmonton, Victoria and the Vancouver areas. The C$100-million upgrade was spurred by the changing market, as well as by the customers seeking for various things from their banking institution, according to CIBC spokesman David Hoff. The bank also aims to spend around C$10 million on employee training programs as part of its effort to provide higher-quality financial advice.

Comment:

To allocate C$100 million for the modernization of its 148 bank branches in Alberta and British Columbia

Commercial Banks, Commercial Banking, Capital expenditures, Facilities & equipment, British Columbia, Canadian Imperial Bank of Commerce

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Native bank branches out

Article Abstract:

Peace Hills Trust Co., the first banking institution in Canada owned and run by native people, is eyeing new markets to serve native customers. Hobbema, Alberta-based Peace Hills is expected to open its first branch in New Brunswick in 12 months time, as part of its move to serve aboriginal client east of Winnipeg, Manitoba. Peace Hills' customers are made up of approximately 95% native people. Peace Hills is also 100%-owned by members of the Samson Cree Nation, a native band with a reserve at Hobbema.

Comment:

Is eyeing new markets east of Winnipeg, Manitoba, such as New Brunswick, to serve native customers

Strategy & planning, Trust Companies, Trust, Fiduciary, and Custody Activities, Peace Hills Trust Co.

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