MONTRÉAL, July 8, 2013 /CNW/ - CIBC (TSX: CM) (NYSE: CM) announced today it is donating $50,000 to the Canadian Red Cross to help relief efforts following the train explosion in Lac-Mégantic

"We are saddened by the devastation caused by the train explosion," said Sylvain Vinet, CIBC's Region Head for Québec. "The community needs our assistance to cope with this tragedy and rebuild the town. We are joining our clients, employees and others across the country to support the relief efforts of the Canadian Red Cross in caring for those impacted and supporting the long term recovery"

CIBC's branches across the country will also be joining in the relief effort by collecting donations for the Canadian Red Cross.

About CIBC

CIBC is committed to supporting causes that matter to our clients, 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 2012, CIBC group of companies contributed more than $38 million to charitable and non-profit initiatives in Canada to support national, regional and local organizations. To learn more, visit www.cibc.com.

SOURCE: CIBC