Funding will provide care for kids with cancer at CHU Sainte-Justine Hospital and scholarships for business students at HEC Montréal
MONTREAL, April 25, 2014 /CNW/ - CIBC (TSX: CM) (NYSE: CM) announced $1.5 million in donations to children and youth at its annual shareholder meeting in Montreal on Thursday. The donations will support pediatric oncology at CHU Sainte-Justine Hospital and establish CIBC scholarships in business administration at HEC Montréal.
"CIBC is committed to creating stronger, healthier communities across Canada," said Gerry McCaughey, President and CEO of CIBC. "We are proud to support these two distinguished Montréal institutions and their important contributions to the health and education of kids and youth in our communities."
According to CHU Sainte-Justine Hospital, childhood cancers are the major cause of death by disease in children. Though survival rates are high, current treatment takes its toll on children and many don't respond to available treatments. CIBC's $1 million donation to CHU Sainte-Justine Hospital will help to address an urgent need for alternative and effective treatments for children affected by cancer.
As part of CIBC's commitment to providing young people with access to education, the bank is donating $500,000 to HEC Montreal, one of Canada's leading business schools as part of its Campus Montreal Campaign. CIBC's donation will fund annual and renewable CIBC scholarships for nearly 100 students in the School of Business Administration, which will be awarded based on financial need and academic success.
Over the past 5 years, CIBC and its employees have invested over $15 million in Greater Montreal, in support of organizations that help children and youth build a better future, provide hope and support to people affected by cancer, and build stronger, more vibrant communities.
CIBC's long term commitment to supporting Kids, Cures and Community includes more than eight years as title sponsor of the Tour CIBC Charles Bruneau. The 2014 campaign kicks off in May with CIBC employees, clients and the community coming together to raise funds for the Fondation Centre de cancérologie Charles-Bruneau in support of treatment centres including CHU Sainte-Justine, CHU Québec, CHU Sherbrooke and Montreal Children's Hospital.
CIBC is a leading North American financial institution with 11 million personal banking and business clients. CIBC is committed to supporting causes that matter to our clients, our employees and our communities. We aim to make a difference in communities through corporate donations, sponsorships and the volunteer spirit of employees. With a strategic focus on Kids, Cures and Community, and employee commitment to causes, including the Canadian Breast Cancer Foundation CIBC Run for the Cure, the CIBC Children's Foundation and United Way, we are investing in the social and economic development of communities across the country. In 2013, CIBC contributed more than $41 million to 1,870 charitable and non-profit initiatives in over 430 communities. You can find other news releases and information about CIBC in our Press Centre on our corporate website at www.cibc.com.
Kevin Dove, Communications & Public Affairs, CIBC 416-980-8835 or firstname.lastname@example.org