OTTAWA, Nov. 26, 2014 /CNW/ - Carleton University is pleased to announce that CIBC has donated $500,000 to establish a new bursary program for students at the Sprott School of Business. The announcement was made today at an on-campus event in the Tory Building.

"We thank CIBC for establishing this bursary program to help students in financial need access a university education," said Jerry Tomberlin, Dean of the Sprott School of Business. "Through this gift, CIBC is helping Sprott students realize their dreams of becoming the next generation of business leaders and entrepreneurs."

The CIBC Bursaries are worth $5,000 each and are open to high school students entering  full-time at Sprott's Bachelor of Commerce or Bachelor of International Business program. To be eligible, students must meet specific academic and community service requirements and have a demonstrated financial need.  "Providing access to education is a big part of CIBC's commitment to building a better future for our kids and our communities," said Grant Rasmussen, Region Head at CIBC.

"Each year we invest millions of dollars in scholarship funding, skills training and mentoring programs that benefit thousands of young people across Canada," added Mr. Rasmussen. "We are proud to partner with Carleton University in supporting today's business students and tomorrow's business leaders."

About CIBC:
CIBC is a leading Canadian-based global financial institution with nearly 11 million personal banking and business clients. 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 over 1,870 organizations in 430 communities.  You can find other news releases and information about CIBC in our Media Centre on our corporate website at www.cibc.com

About the Sprott School of Business:
Carleton University's Sprott School of Business is an internationally accredited, full-service business school located in Canada's capital of Ottawa. Sprott explores complex business issues through innovative programs, interdisciplinary research and collaborative partnerships, which are aligned to three core strengths: international focus, innovation and responsible management. For more information, please visit sprott.carleton.ca.

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SOURCE Carleton University