TORONTO and CHICAGO, June 4, 2020 /CNW/ - CIBC today announced that it is contributing $700,000 to local not-for-profits across Canada and the United States in support of efforts to empower Black youth, individuals and families in building strong communities.
"Racism greatly diminishes what we're all capable of together. Every one of us is made weaker when we tolerate it, ignore it, and don't speak up about it," says Victor Dodig, President and CEO of CIBC. "Change is needed and it requires action from everyone. This includes listening carefully to those whose lives are different from our own and being more intentionally inclusive in our life, our work and communities. We are committed to grassroots partnerships to help make that happen and to ending anti-Black and systemic racism in all forms."
As part of today's announcement, CIBC is providing $275,000 in new support for the Black community, which will be allocated in close consultation with our Black employees and local partners. This funding is in addition to CIBC's ongoing annual commitment averaging $425,000, which helps local charitable organizations in delivering skills training, experiential learning, mentorships and research to help advance the goals of Black youth and the community.
CIBC is a leading Canadian-based global financial institution with 10 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/en/about-cibc/media-centre.html.