Founder William McMaster
Ceased operations 1961
|Defunct 1961 (1961)|
|Fate Merged with the Imperial Bank of Canada to form the Canadian Imperial Bank of Commerce|
The Canadian Bank of Commerce was a Canadian bank cofounded in 1867 by William McMaster. The Canadian Bank of Commerce opened in Toronto with a charter in 1866 that it purchased from the defunct Bank of Canada, which folded in 1858. The Canadian Bank of Commerce branch built at Darling and Pearson, Winnipeg, Manitoba in 1910 in beaux-arts classicism indicates the financial dominance of Winnipeg, among prairie cities.
It merged with the Imperial Bank of Canada in 1961 to form the Canadian Imperial Bank of Commerce (CIBC), now one of the Big Five banks.
During World War I, 1,701 staff from the Canadian Bank of Commerce enlisted in the war effort. A memorial on the East and West Memorial Buildings in Ottawa, Ontario is dedicated to the memory of 1701 Men of the Canadian Bank of Commerce who served in the First World War A War Memorial at Commerce Court in Toronto, Ontario commemorates their service.
In 1931, the Toronto headquarters of the bank, designed by architects John Pearson and Frank Darling, was completed. At 34 stories, for many years it was the tallest building in the British Empire.
Once again, during World War II, 2,300 staff members enlisted in the armed forces.
Rcm 5 2013 fine silver coin canadian bank of commerce bank note design
The following are on the Registry of Historical Places of Canada.
The Canadian Bank of Commerce grew through acquisitions of other banks in Canada: