Public Accountability Statement 2003 Presmess P2 3FINAL.Qxd 12/18/03 10:09 PM Page 1

2003 Public Accountability Statement Accountability Public

Public Accountability Statement 2003 PresMess_p2_3FINAL.qxd 12/18/03 10:09 PM Page 1

Contents

2 President’s Message

4 Governance and Controls 6 Board of Directors 7 Board committees 7 Strengthening our governance

8 Affordable Accessible Banking 12 Branches 14 President’s Choice Financial™ 15 Automated banking machines (ABMs) 15 Special needs 17 Aboriginal banking

28 Support for Small Business 31 Small business in Canada 33 CIBC Small Business 35 Initiatives for 2003 38 Corporate contributions

46 Community and Social Development 48 Corporate contributions 59 Employee initiatives 65 Employer of choice 70 Employment in Canada 71 Taxes in Canada

80 The Environment 83 Corporate environmental policy and management program 86 Credit risk management and lending 88 Supplier relations 90 Facility management 93 Corporate contributions

96 CIBC Ombudsman

You can also access our Public Accountability Statement 2003 by visiting our website at www.cibc.com/pas PresMess_p2_3FINAL.qxd 12/18/03 10:09 PM Page 2

CIBC President and Chief Executive Ofﬁcer John Hunkin President’s Message Building a company that combines strong, consistent performance with accountability to its stakeholders

to view the online version go to www.cibc.com/pas Public Accountability Statement 2003 | President’s Message | 3

Understanding what matters. People. Building something of value. Sustainability. These things matter. They matter to our customers, to our employees, to the communities where we do business. And they matter to me.

At CIBC1, we are in business to help our customers achieve what matters to them. If we fail to keep this at the centre of our thinking, we will not consistently achieve our objectives. Success for CIBC means not only achieving our ﬁnancial objectives, but also nurturing a dedicated and enthusiastic workforce. It means actively supporting our communities. And it means building a sustainable, high-performance enterprise that will continue to thrive for many years to come.

Financial institutions have a responsibility to adhere to the highest standards of ethics and governance practices. During 2003, we took further initiatives to enhance our reputation as one of Canada’s leading corporations and we continued to strengthen our commitment to governance.

CIBC is committed not only to protection of the environment, but also to the broader goals of sustainable development – creating value for today’s generation without compromising future generations.

Beginning in 2002, CIBC’s Public Accountability Statement has documented our commitment to social and environmental issues. It was recognized for its public disclosure by the United Nations Environmental Program at its annual Finance Initiatives Conference in Tokyo, Japan. This year, we’re taking the next step of formally setting a strategic framework for the integration of ﬁnancial, social and environmental reporting. Also, management is engaged in a dialogue to create and deﬁne a clear mission statement for CIBC, one that carefully communicates our values and what drives them, articulating what a successful CIBC would look like in the eyes of our stakeholders.

Our goal is to be recognized as a leader in customer relationships. To support that, we strive to: • Create an environment where employees can excel • Help our customers achieve what matters to them • Make a real difference in our communities

At CIBC, making a difference to Canadians defines who we are. We value the relationships we have with our customers, employees, shareholders and the communities where we do business. Looking ahead, there’s a new sense of confidence at CIBC – confidence that we are moving in a new direction to achieve steady, sustainable results for all of our stakeholders. We still have a lot of work to do, but I am extremely pleased with what we have accomplished this year. We are determined to build on these achievements in 2004.

J.S. Hunkin John S. Hunkin President and Chief Executive Ofﬁcer

1 This statement has been published for CIBC and the following afﬁliates of CIBC in Canada: Amicus Bank; CIBC World Markets Inc.; CIBC Mortgages Inc.; Services Hypothécaires CIBC Inc.; CIBC Life Insurance Company Limited; CIBC Trust Corporation; CIBC Securities Inc.; CIBC Investor Services Inc.; TAL Global Asset Management Inc.; TAL Private Management Ltd.; CIBC Financial Planning Inc.; CIBC Asset Management Inc. Govern_p4_7FINAL.qxd 12/18/03 10:15 PM Page 4

6 Board of Directors Leadership in governance and integrity, independence and effectiveness are deﬁning features of CIBC’s Board of Directors. 7 Board committees Board committees play a vital role in helping the Board CIBC Chairman William Etherington fulﬁll its mandate and governance responsibilities to Governance CIBC’s stakeholders. 7 Strengthening and Controls our governance The Board of Directors works with management to further establish CIBC as a trusted organization valued by the public.

to view the online version go to www.cibc.com/pas and Controls

Public Accountability Statement 2003 | Governance and Controls | 5 Governance

Good governance requires more than detailed rules and sound procedures. It is a matter of trust. Leadership in governance is a key objective of CIBC’s Board of Directors and management. We believe that strong governance is the cornerstone of public accountability, vital to establishing and maintaining the public’s faith in institutions. At CIBC, we are dedicated to promoting a culture of governance that is deﬁned by the highest standards of integrity and social responsibility, enabling us to be recognized as a corporation worthy of public trust. 6 | Governance and Controls | Public Accountability Statement 2003

Governance and Controls

In Canada, banks hold a unique position of trust and accountability. This responsibility translates into important challenges for running our businesses effectively and creating long-term, sustainable value for our stakeholders. CIBC is pleased to have been recognized as a leader in corporate governance and responsibility. In 2003, the bank was selected as a Triple Crown winner, having been listed on the Dow Jones Sustainability World Index (DJSI World), the FTSE4Good Index and the Corporate Knights Best 50 Corporate Citizens for 2002. CIBC also tied for fourth place in The Globe and Mail’s Report on Business corporate governance rankings, and was awarded an “AAA” Board Shareholder Conﬁdence Index rating from the University of Toronto’s Rotman School of Management.

CIBC embraces public accountability and continually strives to demonstrate our commitment to strengthened ﬁnancial controls and governance, together with our dedication to customers, respect for employees, performance for shareholders, and partnership with the communities where we do business.

At CIBC, our governance philosophy extends from the Board, across management, and into all aspects of our operations. As a Canadian global ﬁnancial institution, the bank endeavours to go beyond the many regulatory and compliance requirements placed upon it. Our governance framework involves ongoing interaction between Board members and the management team to ensure that the interests of CIBC’s stakeholders are protected and well served.

CIBC regularly reviews and enhances its governance practices; it also monitors and, where appropriate, responds to both Canadian and U.S. regulatory developments. CIBC’s standards of governance are consistent with the Toronto Stock Exchange’s corporate governance guidelines.

The Sarbanes-Oxley Act, which was signed into law in 2002, was one of the most signiﬁcant U.S. regulatory developments in decades. Many of its provisions apply to CIBC as a company listed on a U.S. stock exchange. In 2003, CIBC completed a critical assessment of its practices regarding these provisions, including implementation of many initiatives to ensure that we are well positioned to meet these new requirements.

Board of Directors The quality, independence and effectiveness of the Board are important deﬁning features that ensure that its oversight obligations are properly fulﬁlled. CIBC’s Board seeks only the highest quality individuals to serve. In

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that regard, there is a formal nomination process in place led by the Board Chairman and the Corporate Governance Committee. Also, the Board, its committees and its members are assessed annually in an internal review, and each member is subject to a formal peer review through a process conducted by independent consultants.

During 2003, CIBC further enhanced the independence of the Board by ensuring that the overwhelm- ing majority of its members are “unaffiliated” and by formally separating the roles of chairman and chief executive officer. Former Chairman and Chief Executive Officer John Hunkin was appointed President and Chief Executive Officer, while I became Chairman of the Board, having previously served as Lead Director. In addition, the Board maintains its current practice of holding meetings attended by only non-management directors as part of its regular meeting schedule.

This year, the Board underwent an additional structural review with the assistance of an external firm. Based upon its findings, the Corporate Governance Committee reviewed the composition of the Board and defined suitable characteristics for directors. The committee is currently engaged in a search for new directors who meet these requirements and has retained an independent consultant to assist in this regard.

Board committees The Board believes that the governance of CIBC is more effectively carried out with the active participation of its committees that play a vital role in assisting the Board to fulfill its responsibilities to stakeholders. CIBC’s principal Board committees are: • Corporate Governance Committee, which reviews corporate governance matters pertaining to the Board and shareholders • Audit Committee, which assists the Board in fulfilling its oversight responsibilities by reviewing financial information, CIBC’s internal control systems for accounting and financial reporting, disclosure controls and procedures, information systems controls and security, as well as the overall control environment for managing business risks • Management Resources and Compensation Committee, which provides detailed review, oversight and approval of CIBC’s human resource policies and procedures, and ensures that they support CIBC’s goals and business strategies • Risk Management Committee, which ensures policy guidelines and systems exist and are being followed to maintain acceptable levels of credit, market and liquidity risks.

Strengthening our governance At CIBC, achieving excellence in governance is a journey, and we are committed to a process of continuous improvement and promoting a corporate culture that establishes “doing the right thing” as the ultimate standard. The Board is very satisﬁed with the progress we have made in 2003 on governance issues. Going forward, we will continue to work closely with CIBC management to accomplish our goals of attaining sustainable growth, protecting the interests of our stakeholders, and further establishing our organization as an example of an institution valued by the public and held in their trust.

William A. Etherington Chairman AAB_p8_27FINAL.qxd 12/18/03 10:20 PM Page 8

12 Branches In 2003, CIBC launched its multi-year branch revitalization program to improve the overall customer experience. 14 President’s Choice Financial CIBC maintained its commitment to provide low-cost electronic banking options to Canadians. 15 ABMs With over 4,400 machines, CIBC has the largest ABM network in Canada. 15 Special needs In 2003, CIBC supported initiatives to better serve Affordable senior citizens, people with disabilities and individuals Accessible with modest incomes. 17 Banking Aboriginal banking CIBC is committed to serving Aboriginal people in Canada by providing personal and commercial banking services that meet their needs.

to view the online version go to www.cibc.com/pas Public Accountability Statement 2003 | Affordable Accessible Banking | 9

At CIBC, we are intent on improving customer satisfaction. We’re making changes Accessible Banking Affordable to our branch network and electronic channels to provide customers with broad access to financial services. We’re creating innovative ﬁnancial products and increasing our investment in employee training, so that customers receive great service and a range of ﬁnancial solutions that meet their needs at every stage of life. 10 | Affordable Accessible Banking | Public Accountability Statement 2003

Affordable Accessible Banking

“We want to help our customers achieve what matters to them, be it a new home, a secure retirement or a university education for their children,” says Jill Denham, Vice Chair, CIBC Retail Markets. “Our goal is to show that CIBC can surpass customers’ expectations of what banking should be.”

In 2003, CIBC took important steps to make banking more accessible to Canadians by enhancing products and services, upgrading delivery channels, and improving procedures and processes.

HERE ARE SOME EXAMPLES:

Improved branch banking – CIBC launched a branch revitalization program that will enhance the branch network and create a superior and more personal banking experience for customers. Among other initiatives, the bank introduced a new account opening process that takes only minutes to complete, freeing up valuable customer time spent in the branch.

A simpler, more affordable chequing account – CIBC offers a simple, interest-paying, affordable chequing account, the Waive Account™, for daily banking that provides up to 12 transactions for $4.00 per month. When a minimum monthly balance of $1,000 is maintained, daily banking fees are waived.

ABMs with greater functionality – CIBC continued to upgrade its network infrastructure to provide better service to customers by replacing or upgrading more than 1,075 ABMs. Among the service enhancements introduced in 2003 is the ability to register for Telephone Banking and Online Banking directly through the ABM, making it easier for customers to access their accounts through different channels.

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CIBC also became the ﬁrst Canadian bank to give customers the ability to deposit U.S. currency directly to their U.S. dollar accounts through ABMs. U.S. cash and cheque deposits can be made at all CIBC ABMs that accept deposits, while U.S. dollar withdrawals are available at approximately 100 CIBC U.S. cash dispensing ABMs located in many urban centres and border-crossing points across Canada.

Easier online banking – CIBC continued to introduce enhancements to its Online Banking and Investor’s Edge™ websites, adding greater functionality and making them more user friendly. Online Banking customers are able to conduct banking transactions, order cheques, access information, and apply for and obtain a mortgage online. In 2003, existing customers were able to open the Waive Account online and use it immediately, without ﬁrst visiting the branch. Also, CIBC Insurance partnered in the launch of its online comparison-shopping service for term life and critical illness insurance, allowing customers to get information and apply for coverage over the telephone.

In addition, CIBC launched its Student Life micro site that provides access to up-to-date information and services for students, recent graduates, parents and teachers, with interactive tools, articles, links to scholarship programs, tips on interview techniques and career news.

E-mail money transfer – Personal banking customers can transfer money by e-mail, using a secure network developed through CIBC’s arrangement with Acxsys Corporation and other Canadian ﬁnancial institutions.

More affordable mortgages – With a choice of the variable-rate CIBC Better Than Prime Mortgage™ or the ﬁxed-rate CIBC Better Than Posted Mortgage™, customers have an affordable choice for meeting their mortgage needs.

Easier, more responsive telephone banking – Telephone Banking is a leader in customer satisfaction in Canada with speech-recognition technology and superior customer interaction skills, and a new automated workﬂow tool. Products available over the phone have now been extended to include mortgage life insurance.

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Greater banking choice – CIBC offers customers a wider choice of banking services through Amicus Bank, a member of the CIBC group of companies. In 2003, 217 President’s Choice Financial services pavilions operated in grocery stores in select locations across Canada through our strategic alliance with Loblaw Companies Limited.

Improved complaint handling – CIBC was ranked #1 in customer satisfaction for complaint resolution by the 2002 Customer Service Survey, a syndicated survey that compares customer service among the Canadian banks. CIBC’s efﬁcient process ensures problems are resolved within 24 hours at the branch or the complaint is escalated to the Customer Care Centre with the authority to resolve most problems within 72 hours.

Branches CIBC customers are doing their banking differently. Customers are increasingly supplementing their branch banking with either visits to ABMs or using telephone banking and online banking to conduct transactions. CIBC is focused on enhancing the total banking experience for customers across all of its delivery channels. Its ongoing strategy is to introduce service initiatives and process enhancements that provide access to bank products and services through branches, ABMs, over the telephone and online. This allows customers to choose the product or service they want and have it delivered through the channel they prefer.

CIBC has a national network of 1,106 branches. Changes in CIBC’s branch distribution are determined through detailed market analysis and assessment of prevailing trends of customer behaviour. Based on this analysis, branches may be opened or closed to more effectively meet the needs of customers.

In 2003, the bank launched its multi-year branch revitalization program to improve the overall customer experience with high quality banking services, upgraded staff skills, improved accessibility through multiple delivery channels and extended operating hours in convenient, retail-oriented locations. In high trafﬁc markets, CIBC is making investments in new, ﬂagship branches to replace existing area branches that are less well situated.

In 2003, CIBC launched ﬂagship branches in Toronto and Kitchener, Ontario and Pointe-Claire, Quebec. AAB_p8_27FINAL.qxd 12/18/03 10:20 PM Page 13

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PROFILE Barclay Cornell, Vice-President, Retail Networks: Toronto, Ontario Keele and St. Clair Branch

“Everything is here,” says Barclay Cornell, Vice-President, Retail Networks of CIBC’s new ﬂag- ship branch at Keele and St. Clair in Toronto, Ontario. “It’s welcoming and bright, and the place you’d want to come to for your banking business.”

The new ﬂagship branch has been designed with the customer in mind. A full complement of well-trained staff are on hand to provide full-service banking to customers, and to demonstrate the use of alternative online and telephone banking channels. Also, a bank of ABMs rounds off the picture, including a drive-through machine to serve customers in their vehicles.

“The new branch helps to instill conﬁdence in our customers,” says Cornell. “It shows that we’re an organization that is focused on creating a convenient, productive and satisfying banking experience for them.”

In addition to the ﬂagship program, CIBC continues to make investments in branch technology upgrades, process enhancements and staff training across the network. These initiatives support high standards of customer service across the country.

At the same time, CIBC is closing branches where there are low levels of customer demand and transaction volumes, and/or the existence of other CIBC branches in the same or adjacent markets where customers shop or work. In optimizing the branch network, service and access levels are more closely aligned to customer demographics and needs.

WHEN A BRANCH IS CLOSED, CIBC TAKES THE FOLLOWING STEPS TO PROTECT THE INTERESTS OF THE COMMUNITY, OUR CUSTOMERS AND EMPLOYEES:

• Customer usage patterns in the local market are assessed to identify the most appropriate alternative branch to serve affected customers. • CIBC informs the community, including customers, community leaders, employees, politicians and government ofﬁcials, of the decision to close the branch. Notice is given and the bank holds a

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community meeting to discuss the decision and to hear suggestions for helping the community to adjust. • CIBC works with individual customers and groups to identify their needs and to assist in making alternative banking arrangements. • CIBC makes every effort to help staff affected by closures to ﬁnd new positions within the organization, deploying them either to the branch to which the affected customers are being transferred or elsewhere in the CIBC network.

In 2003, CIBC opened three branches and closed 36, resulting in a year-end total of 1,106 branches nationwide. The vast majority of closures during the year occurred in urban locations. CIBC is particularly sensitive to the special circumstances created by branch closures in rural areas. A decision to close in these situations is only taken after an exhaustive review of alternative options.

President’s Choice Financial In 2003, CIBC maintained its commitment to provide quality, low-cost electronic banking options to Canadian customers looking for a ﬁnancial services alternative in the marketplace. President’s Choice Financial, a strategic alliance between Amicus Bank, a member of the CIBC group of companies, and

CIBC offers a quality, low-cost electronic banking alternative through President’s Choice Financial, with pavilions in select Loblaw Companies Limited stores across Canada. AAB_p8_27FINAL.qxd 12/18/03 10:20 PM Page 15

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Loblaw Companies Limited, offers customers access to a unique set of ﬁnancial products and services. Available through ABMs, over the telephone and through the Internet, the offer provides Canadians with self-service banking options at value prices.

In Canada, there are currently 217 President’s Choice Financial pavilions located in select Loblaw Companies Limited stores across the country. In addition, customer associates are available to serve clients 24 hours a day, seven days a week over the telephone. In 2003, new customers could register for both telephone and Internet access to their accounts.

Since President’s Choice Financial was launched in 1998, over one million customers have embraced this value proposition, and the number of customers continues to grow.

ABMs With over 338 million transactions conducted in 2003, CIBC’s ABM channel is the most popular point of access for the bank’s customers. At year-end 2003, the CIBC group of companies continued to offer customers the largest ABM network in Canada, with more than 4,400 machines in branch and non-branch locations across the country.

In addition to providing customers access to almost 2,170 ABMs in branches nationwide, CIBC offers banking convenience through ABMs at over 2,240 non-branch locations, including 7-Eleven stores, participating Mac’s Convenience Stores, Ultramar locations and various independent convenience stores.

Special needs CIBC is committed to becoming Canada’s leading ﬁnancial services retailer dedicated to meeting the needs of the customer. In 2003, the bank supported numerous initiatives to better serve customers who are senior citizens, people with disabilities, and individuals with modest incomes, to ensure that they can take advantage of CIBC’s banking services.

Wheelchair access to branches – CIBC continued its commitment to a barrier-free policy by making all new branches fully wheelchair accessible, and by retroﬁtting existing branches when a new entrance or signiﬁcant other addition is being built. During the year, three new branches were built and a further nine branches were renovated to this standard. The total number of wheelchair accessible locations in Canada was 445 at the end of 2003.

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CIBC Access for All™ ABMs – In 2003, CIBC continued its initiatives, taken in 2002, to provide customers with special needs improved access to the bank’s ABM network. The Access for All ABM program makes it easier for visually impaired customers, the elderly and persons using wheelchairs or having restricted mobility to do their banking at ABMs. CIBC is in the process of purchasing new ABMs that meet Canadian standards for accessibility and these will be introduced as a component of the bank’s continuing machine replacement program. This program coincides with CIBC’s Access for All branch initiative to achieve wheelchair accessibility through new branch construction and renovation of existing locations.

At year-end, 480 branches had been equipped with an Access for All ABM. Typically, Access for All ABMs are installed at a lower height, with curved parcel shelves for easier wheelchair access, grab bars for persons with mobility impairments, and improved task lighting and easier-to-read screens in high-contrast colours to assist the elderly and the partially sighted. These machines also allow blind and partially sighted customers to plug headsets into an audio jack and follow spoken instructions to complete their banking transactions.

IN ADDITION, CIBC PROVIDES A CHOICE OF BANKING PRODUCTS AND SERVICES FOR CUSTOMERS WITH SPECIAL NEEDS. THESE INCLUDE:

Telephone banking – CIBC’s speech recognition technology continues to assist customers with visual impairments or physical limitations. Also, the bank handled an increased volume of calls through its Tele-Type Touch (TTY) service that provides hearing-impaired customers with direct, 24/7 access to telephone banking, allowing them to complete routine ﬁnancial transactions, and purchase or obtain information on products and services.

Bank statements in Braille or large print – CIBC makes available statements in Braille or large print to better meet the needs of visually impaired customers.

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Banking solutions for seniors, students and youth – The CIBC Advantage for Seniors package offers banking and travel advantages for customers 60 years of age and over. This includes free daily banking transactions on the Waive Account (our chequing product) and a discount on a safety deposit box rental. For students, the CIBC Advantage for Students package offers a monthly fee of only $2 for up to 12 transactions on the Waive Account, and $0.30 for each transaction thereafter. Daily banking fees are waived when a $1,000 minimum monthly balance is maintained. For younger banking customers under 19 years, the CIBC Advantage for Youth package offers free daily banking and monthly statements for recordkeeping.

Waive Account – This low-cost chequing account costs just $4 per month for up to 12 transactions and $0.60 for each transaction beyond that. Everyday banking transactions are free when a minimum monthly balance of $1,000 is maintained.

Aboriginal banking CIBC is committed to meeting the ﬁnancial services needs of all Aboriginal people – First Nations, Inuit and Métis located in urban, rural and remote communities across the country. The bank also supports numerous national, regional and local organizations that are dedicated to fostering the growth of Aboriginal culture and the economic development of Aboriginal communities across Canada.

Jay Lomax, from the Dakota Tipi First Nation in Manitoba, participated in CIBC’s celebration of National Aboriginal Day at Commerce Court in Toronto. Jay is a Child Protection Worker at Native Child and Family Services of Toronto and his father recently retired from CIBC after 33 years of service. AAB_p8_27FINAL.qxd 12/18/03 10:20 PM Page 18

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At CIBC, we recognize that to help meet the needs of Aboriginal people in Canada, we must engage in an holistic process of building effective relationships with each community and its members. This will create a dialogue for improving their access to a full range of personal and commercial ﬁnancial services that will meet their requirements.

To achieve these objectives, CIBC has seven on-reserve branches and one agency in Aboriginal communities across Canada, together with a seasoned Aboriginal banking team able to meet the needs of customers.

Banking services CIBC works to serve Aboriginal people, their businesses, their communities and members through its offer of personal and commercial ﬁnancial products and services. The bank has customized its lending guidelines to complement the tax circumstances of First Nations people.

CHANGES TO THE EVALUATION PROCESS TO ENHANCE THE CREDIT POSITION OF FIRST NATIONS PEOPLE INCLUDE:

Total debt service ratio – CIBC has developed a formula to “gross up” income levels of Status Indians who earn tax-exempt income on a reserve for calculating their ability to repay the proposed loan and to service existing debt.

Conventional residential mortgage – CIBC has an on-reserve conventional mortgage program that does not require the involvement of Indian and Northern Affairs Canada or the Canada Mortgage and Housing Corporation if certain conditions are met.

Also, CIBC’s personal ﬁnance training module continues to assist First Nations people in understanding fundamental ﬁnancial concepts, such as basic banking and budgeting. Using the “train the trainer” approach, the bank taught the course to small student groups and provided them with teaching binders and workbooks, so that these instructors could, in turn, teach other Band members.

The bank works with Aboriginal business customers to help build a strong business and capital base by offering a variety of commercial banking products and services to meet business ﬁnancing needs both on and off reserve. These include business lines of credit, capital business loans, business improvement loans, as well as equipment, leasing, investment management, trust administration and electronic banking. AAB_p8_27FINAL.qxd 12/18/03 10:20 PM Page 19

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In addition, CIBC is in the process of reﬁning Aboriginal business and risk strategies to support safe growth. One of the key elements will be greater expertise applied to the origination and adjudication of Aboriginal credit.

In 2003, CIBC provided commercial banking services to a cross-section of Aboriginal businesses in the natural resources, hospitality, agriculture, transportation and retail sectors in communities across Canada.

Corporate Contributions CIBC supports numerous national, regional and community causes and organizations dedicated to the development of Aboriginal communities in Canada.

IN 2003, CIBC CONTRIBUTED TO A NUMBER OF ORGANIZATIONS, INCLUDING:

National Aboriginal Achievement Foundation – In 2003, CIBC maintained its $350,000 annual contribution to support the work of the foundation and its programs. Established in 1985 by Mohawk conductor and composer John Kim Bell, the organization has grown to become a leading national educational organization dedicated to promoting excellence in Inuit, First Nations and Métis students.

As its largest private supporter and one of its founding sponsors, CIBC supports the foundation’s vision and program goals through CIBC Achievers, a named scholarship program; it is the co-sponsor of the Blueprint for the Future career fairs and the National Aboriginal Achievement Awards, now in its 11th year of recognizing the career achievements of outstanding Aboriginal men and women; and is a lead participant in Taking Pulse, a new program designed to increase the participation of Aboriginal people in the Canadian workforce.

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PROFILE John Kim Bell, Founder and President: Toronto, Ontario National Aboriginal Achievement Foundation

“I think we’ve laid unbelievable groundwork in this country to help Aboriginal people in a measurable and meaningful way,” says John Kim Bell, Founder and President of the National Aboriginal Achievement Foundation. “We overcame all the initial obstacles through our champion in CIBC who showed bold leadership by putting their faith in us from the beginning.”

With CIBC’s steadfast support, the foundation has moved from strength to strength, from growing its early scholarship program to national prominence, to the success of the nationally televised National Aboriginal Achievement Awards. And, most recently, attracting broad corporate interest and involvement in its programs targeting Aboriginal participation in Canada’s workforce.

“With CIBC, I feel we have a true partnership based upon trust,” says Bell. “They have always been there for us and have demonstrated an unwavering commitment to the Aboriginal community from which the country has beneﬁted.”

Blueprint for the Future Aboriginal Career Fairs – CIBC continues to support the National Aboriginal Achievement Foundation’s Blueprint for the Future career fairs, held in Saskatoon and Calgary in 2003. The bank provides information on career opportunities, competency development, labour market characteristics and special programs to help Aboriginal youth make informed career choices as they progress through their secondary and post-secondary education.

CIBC Achievers – CIBC supports the Aboriginal community through this scholarship program that is administered by the National Aboriginal Achievement Foundation to assist talented young people in realizing their potential through education and training. CIBC contributes $100,000 annually to the program that recognizes and supports outstanding scholarship in every ﬁeld of study and is open to Aboriginal students who have distinguished themselves in their chosen ﬁelds.

Canadian Diabetes Association – CIBC has committed $45,000 over three years to a new Aboriginal Diabetes Strategy. This new initiative that the Canadian Diabetes Association has adopted to work in partnership with Aboriginal people will address speciﬁc awareness, prevention, care, management and treatment strategies for diabetes in both on-reserve and off-reserve communities. AAB_p8_27FINAL.qxd 12/19/03 10:28 AM Page 21

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Family Centre in Town of Inuvik – CIBC committed $75,000 over three years to support the building of a new family centre in Inuvik, Northwest Territories. The new facility will include a pool, a play centre for children, as well as squash courts and an eating area. The centre will be the ﬁrst of its kind in the territories and will contribute to the future growth of the community.

Innu Healing Foundation – CIBC committed $250,000 over ﬁve years to the $12.5 million “Building Hope” fundraising campaign to build, equip and endow two recreation centres for the Innu communities in Labrador at Sheshatshiu and in the new community at Natuashish, just north of Davis Inlet. The campaign is a private-public sector partnership in which governments, national and local corporations, charitable foundations and individuals play an important role in facilitating the healing of the next generation of Innu.

University of Northern British Columbia (UNBC) Northern Advancement Program – In 2003, CIBC donated $30,000 as a second instalment of its most recent commitment of $150,000. This commitment, when combined with the previous contribution of $100,000, elevates CIBC to a full partner of the Northern Advancement Program. Through this initiative, UNBC offers Aboriginal students and those living in remote areas across the North access to a university education and an option to obtain practical experience through mentorships, practicums and co-op placements. CIBC regularly hires UNBC students on a part-time basis and has employed many graduates in recent years.

Taking Pulse – With bank President and Chief Executive Ofﬁcer John Hunkin serving as co-chair, CIBC supports this broad-based project, involving educators, federal and provincial governments, Aboriginal people and the private sector, that examines more effective ways to develop greater Aboriginal participation in the workforce and in the Canadian economy. Taking Pulse aims to link students’ education and aspirations to the real and practical needs of the private sector.

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CIBC branch openings – 2003

Ontario Québec • 245 Strasburg Rd., Kitchener • 6341, Route transcanadienne, • 2161 St. Clair Ave. W., Toronto bureau 120, Pointe-Claire

CIBC branch closings – 2003

Alberta Ontario Prince Edward Island • 5120 Railway Ave., Berwyn • 135 Main St., Ailsa Craig • Route 1 & Meadowbank Rd., • 1502 - 9th Ave. S., Lethbridge • 162 Plains Rd. W., Burlington Cornwall • 5040 - 50th St., Mannville • R.R. #6, Hagersville • 574 Concession St., Hamilton Québec British Columbia • 119 King St., Hensall • 1220, rue Provancher, Cap-Rouge • 5622 Vedder Rd., Chilliwack • 700 Strasburg Rd., Kitchener • 456, boul. de l’Hôpital, Gatineau • 3680 Mount Seymour Pkwy., • 324 Highland Rd. W., Kitchener • 187, boul. Hymus, Montréal North Vancouver • 1 - 350 Wentworth St. E., Oshawa • 5, av. Broadway, Montréal • 3849 Cadboro Bay Rd., Victoria • 1660 Kingston Rd., Scarborough • 153, rue Noranda, Noranda • 3351 Dundas St. W., Toronto • 4936, boul. Saint-Jean, Pierrefonds Manitoba • 787 Annette St., Toronto • 6785, Route transcanadienne, • 932 Grosvenor Ave., Winnipeg • 341 Silverthorne Ave., Toronto Pointe-Claire • 888 Main St., Winnipeg • 1758 St. Clair Ave. W., Toronto • 110 Regent Ave. W., Winnipeg • 1601 Eglinton Ave. W., Toronto Saskatchewan • 5600 Yonge St., Toronto • 118 - 3rd St., Mossbank Nova Scotia • 3198 Sandwich St. W., Windsor • 6th & Branion, Prince Albert • 71 Tacoma Dr., Dartmouth

President’s Choice Financial openings – 2003

Alberta Ontario • Unit #100, 4700 - 130 Ave. S., • 30 Kingston Rd. W., Ajax Calgary • 35 Worthington Ave., Brampton • 330 Queens Plate Dr., Etobicoke British Columbia • 65 Mall Rd., Hamilton • 2855 Gladwin Rd., Abbotsford • 750 Ottawa St., Kitchener • 8195 - 120 St., North Delta • 1980 Baseline Rd., Ottawa • 190 Richmond Rd. & Kirkwood, Nova Scotia Ottawa • 5178 Hwy. #3, Upper Tantallon • 301 High Tech Rd., Richmond Hill

President’s Choice Financial closings – 2003

Nova Scotia Ontario 130 Albion St., Amherst 125 Harwood Ave. E., Ajax AAB_p8_27FINAL.qxd 12/18/03 10:20 PM Page 23

Public Accountability Statement 2003 | Affordable Accessible Banking | 23

bank@work closings – 2003

Ontario • 3500 Carling Ave., Nepean • 350 Victoria St., Toronto

bizSmart™ closings – 2003

Alberta New Brunswick • 2210 Bank St., Ottawa • 5662 Signal Hill Centre Dr. SW, • 125 Trinity Dr., Moncton • 109 Park St. S., Peterborough Calgary • 176 Rothesay Ave., Saint John • 45 Red Maple Rd., Richmond Hill • 3625 Shaganappi Trail NW, • 850 Milner Ave., Scarborough Calgary Newfoundland & Labrador • 3003 Danforth Ave., Toronto • 1215 - 9th Ave. SW, Calgary • 150 Old Placentia Rd., • 250 Front St. E., Toronto • 140 - 350R Shawville Blvd. SE, Mount Pearl • 945 Eglinton Ave. E., Toronto Calgary • 1140 Yonge St., Toronto • 3030 - 32nd Ave., Calgary Nova Scotia • 542 Keele St., Toronto • 4122 Calgary Trail South, • 202 Brownlow Ave., Dartmouth Edmonton • 620 King St. N., Waterloo • 215 Chain Lake Dr., Unit A, • 13118 - 50th St., Edmonton • 2550 Ouellette Ave., Windsor Halifax • 9580 - 170th St., Edmonton • 57 Northview Blvd., Woodbridge • 150D - 37400 Hwy. #2, Red Deer Ontario • Unit #40, 445 St. Albert Rd., St. Prince Edward Island • 16 Harwood Ave. S., Ajax Albert • 655 University Ave., • 1015 Golf Links Rd., Charlottetown Meadowlands Square Bldg. 1, British Columbia Ancaster Saskatchewan • Unit #110, 32500 South • 180 - 14800 Yonge St., Aurora Fraserway, Abbotsford • 105 - 810 Circle Dr. E., Saskatoon • 36 Barrie View Dr., Barrie • 4265 Lougheed Hwy., Burnaby • 80 Great Lakes Dr., Brampton • 1220 Sequin Dr., Coquitlam • 1250 Steeles Ave. E., Brampton • 7315 - 120th St., Delta • 595 West St., Brantford • Unit #200, 20055 Willowbrook • 26 Pinebush Rd., Cambridge Dr., Langley • 370 Stone Rd. W., Guelph • 6581 Aulds Rd., Nanaimo • 8141 Campeau Dr., Kanata • 1600 - 15th Ave., Unit 206, Prince George • 616 Gardiner's Rd., Kingston • Unit #110, 2780 Sweden Way, • 332 Wellington Rd., London Richmond • 1737 Richmond St., Unit 9, • 901 Seymour St., Vancouver London • 200 - 3175 Hwy. 7, Markham Manitoba • 1530 Aimco Blvd., Mississauga • 1910 Pembina Hwy., Unit #9, • 5900 Mavis Rd., Mississauga Winnipeg • 1595 Merivale Rd., Nepean • 947 St. James St., Winnipeg • 17810 Yonge St., Building A, • 843 Leila Ave., Winnipeg Newmarket • 1199 Ritson Rd. N., Oshawa

As previously reported in the 2002 Public Accountability Statement, on November 7, 2002, CIBC announced the discontinuation of bizSmart operations. As a result, the 60 sales pavilions across Canada were all closed by February 28, 2003. AAB_p8_27FINAL.qxd 12/18/03 10:20 PM Page 24

24 | Affordable Accessible Banking | Public Accountability Statement 2003

ABM installations – 2003

Alberta Nova Scotia • 3030 Artesian Dr., Mississauga • 10500 - 20th Ave., Blairmore • 280 Lacewood Dr., Halifax • 735 Twain Ave. Uni, Mississauga • 677 Cougar Ridge Dr. SW, • 278 Lacewood Dr., Halifax • 6015 McLaughlin Rd., Mississauga Unit #100, Calgary • 817 Sackville Dr., Lower Sackville • 1520 Shawson Dr., Mississauga • 6006 - 11300 Tuscany Blvd. NW, • 5178 Hwy. #3, Upper Tantallon • 7205 Goreway Dr., Mississauga Calgary • 3825 Richmond Rd., Nepean • 407 Hawkwood Blvd. NW, Ontario • 418 Moodie Dr., Nepean Calgary • 130 Rossland Rd. E., Ajax • 1195 Davis Dr., Newmarket • 4700 - 130th Ave., Calgary • 30 Kingston Rd. W., Ajax • 17725 Yonge St., Newmarket • 19 Sunpark Dr. SE, Calgary • 31 Yonge St., Alliston • 1128 Fisher St., North Bay • 13203 - 82nd St., Edmonton • 623 Yonge St., Barrie • 610 Atherly Rd., Orillia • 3540 - 137th Ave., Edmonton • 2 Marsellus Dr., Barrie • 5959 Jeanne D'Arc Blvd., Orleans • 470 Carmichael Lane, Hinton • 417 Bridge St. E., Belleville • 2213 Arch St., Ottawa • 2515 Highlands Rd. W., Lethbridge • 308 North Front St., Belleville • 3201 Conroy Rd., Ottawa • 325 Blue Fox Blvd., Lethbridge • 11980 Hurontario St., Brampton • 1402 Highgate St., Ottawa • 1606 Mayor Magrath Dr., • 9495 Airport Rd., Brampton • 120 Osgoode St., Ottawa Lethbridge • 10725 McLaughlin Rd., Brampton • 690 Hunt Club Rd., Ottawa • 701 - 4th Ave. S., Lethbridge • 35 Worthington Ave., Brampton • 4 Lorry Greenberg Dr., Ottawa • 40 Southridge Dr., Okotoks • 9950 McLauglin Rd., Brampton • 190 Richmond Rd., Ottawa • 6888 - 50th Ave., Red Deer • 4021 Upper Middle Rd., • 2670 Alta Vista Dr., Ottawa • 624 King St., Spruce Grove Burlington • 1980 Baseline Rd., Ottawa • 4402 - 48th St., Stony Plains • 671 Hespler Rd., Cambridge • 99 King St., Paris • 5008 - 50 Ave., Valleyview • 9266 Guelph Line, Campbellville • 1800 Brock Rd., Pickering • 93 Park Ave. E., Chatham • 1688 Hwy. 7, Pickering British Columbia • 3525 Hwy. 144, Chelmsford • 249 Killaly St. W., Port Colborne • 520 North 9th Ave., Golden • Cameron St. & Albert St., Coboconk • 145 Queen St., Port Perry • 22645 Dewdney Trunk Rd., Maple • 122 King St. W., Cobourg • 8760 Bayview Ave., Richmond Hill Ridge • 51 King St. W., Cobourg • 301 High Tech Rd., Richmond Hill • 8195 - 120th St., North Delta • 1504 Pitt St., Cornwall • 1100 Murphy Rd., Sarnia • 3680 Mount Seymour Pkwy., • 1292 Pitt St., Cornwall • 2320 Lawrence Ave., Scarborough North Vancouver (2)* • The Pinery, Hwy. 26, • 800 Morningside Ave., Scarborough • 3955 Johnston Rd., Port Alberni Fire Route 209554, Craigleith • 9501 Sheppard Ave. E., Scarborough • 2420 - 5th Ave., Prince George • 581 Kipling Ave., Etobicoke • 287 Talbot St., St. Thomas • 11000 Williams Rd., Richmond • 330 Queen's Plate Dr., Etobicoke • 700 Paris St., Sudbury • 7190 120th St., Surrey • 198 Main St. S., Exeter • 865 Regent St., Sudbury • 2085 Dundas St., Vancouver • 432B Ashley St., Foxboro • 41 Ramsey Lake Rd., Sudbury • 1588 Robson St., Vancouver • 2630 Innes Rd., Gloucester • 1065 The Kingsway, Sudbury • 99 Smithe St., Vancouver • 2180 Montreal Rd., Gloucester • 140 La Rose Ave., Toronto • 722 Thurlow St., Vancouver • Hwy. #6 & R.R. #6, Hagersville • 2161 St. Clair Ave. W., Toronto (5)* • 1093 Homer St., Vancouver • 1280 Main St. W., Hamilton • 235 Queens Quay W., Toronto • 4144 Wilkinson Rd., Victoria • 245 Strasburg Rd., Kitchener (5)* • 2942 Finch Ave. E., Toronto • 1005 Ottawa St., Kitchener • 334 Bloor St. W., Toronto Manitoba • 1 King St. E., Kitchener • 313 Mcarthur Rd., Vanier • 888 Main St., Winnipeg • 575 Proudfoot Lane, London • 302 Durham St., Walkerton • 595 Richmond St., London • 3930 Brock St. N., Whitby Newfoundland and Labrador • 305 Boler Rd., London • 960 Dundas St. W., Whitby • 132 Bennett Dr., Gander • 55 Harvest Moon Dr., Markham • 1600 Rossland Rd. E., Whitby • 235 Wilson Dr., Milton AAB_p8_27FINAL.qxd 12/18/03 10:20 PM Page 25

Public Accountability Statement 2003 | Affordable Accessible Banking | 25

• 2535 Ouellette Ave., Windsor • 305, boul. de la Concorde, Laval • 200 Lauzon Rd., Windsor • 3520, boul. Le Corbusier, Laval • 3540 Walker Rd., Windsor • 406, boul. Cartier, Laval • 5355, rue Papineau, Montréal Prince Edward Island • 915, rue Ontario E., Montréal • Cornwall Shopping Plaza, Cornwall • 10937, Notre-Dame E., Montréal • 6341, Route transcanadienne, Québec Pointe-Claire (5)* • 4032, boul. St-Jean, • 1757, Route 117, St-Jovite Dollard-des-Ormeaux • 5787, Route 117, Ste-Agathe • 385, boul. Saint-Joseph, • 3150, boul. St-Jean, Drummondville Trois-Rivières Ouest • 25, chemin de la Savane, • 1170, av. de l’Église, Verdun Gatineau • 7888, boul. Newman, Lasalle * Denotes number of ABM machines

ABM removals – 2003

Alberta • 701 - 4th Ave. S., Lethbridge • 910 Eckhardt Ave. W., Penticton • 230 Lynx St., Banff • 10010 - 100th St., Peace River • 295 Main St., Penticton • 98 Banff Ave., Banff • 37553 Hwy. #2 S., Red Deer • 19130 Lougheed Hwy., • 1035 - 64th St. SE, Calgary • 5003 - 50th St., Rocky Mountain Pitt Meadows • 1071 Canyon Meadows Dr. SW, • 270 Baseline Rd., Sherwood Park • 1523 Prairie Ave., Port Coquitlam Calgary • 100 McLeod Ave., Spruce Grove • 7085 Market St., Port Hardy • 117 - 64th Ave. NE, Calgary • 5103 - 50th St., Whitecourt • 500 - 3rd Ave. W., Prince Rupert • 1419 - 8th St. SW, Calgary • 6001 Grant McConachie Way, Richmond • 2525 - 36th St. NE, Calgary British Columbia • 9100 Blundell Rd., Richmond • 3012 - 17th Ave. SE, Calgary • 32650 South Fraser Way, • 336 - 58th Ave. SE, Calgary Abbotsford • 15551 Fraser Hwy., Surrey • 3619 - 17th Ave., Calgary • 3082 - 272nd St., Aldergrove • 1294 Guildford Town Centre, Surrey • 4625 Varsity Dr. NW, Calgary • 4805 Kingsway, Burnaby (4)* • 4711 S.W. Lakelse Ave., Terrace • 5050 - 40th St. NE, Calgary • 5059 Canada Way, Burnaby • 1125 Denman St., Vancouver • 5609 - 4th St. NW, Calgary • 8800 Glenlyon Pkwy., Burnaby • 1157 Burrard St., Vancouver • 8251 Fairmount Dr. SE, Calgary • 5622 Vedder Rd., Chilliwack (2)* • 1427 Kingsway, Vancouver • 9115 - 14th St. NW, Calgary • 825 Cliffe Ave., Courtenay • 2103 West Broadway, Vancouver • 5105 - 50th Ave., Cold Lake • 8985 - 120th St., Delta • 3114 East 49th Ave., Vancouver • 10058 - 170th St. NW, Edmonton • 116 Station St., Duncan • 3927 Kingsway, Vancouver • 10431 - 82nd Ave. NW, Edmonton • 575 North Rd., Gabriola Island • 501 Main St., Vancouver • 13204 - 82nd St. NW, Edmonton • 304 Victoria St., Kamloops • 553 West Hastings St., Vancouver • 2331 - 66th St. NW, • 700 Tranquille Rd., Kamloops • 3201 - 30th Ave., Vernon Suite 700, Edmonton • 1020 - 1st Ave., Ladysmith • 3869 Cadboro Bay Rd., Victoria (2)* • 3924 - 118th Ave., Edmonton • 540 - 1st Ave., Ladysmith • 3995 Quadra St., Victoria • 3945 - 34th St. NW, Edmonton • 4025 - 208th St., Langley • 3393 Douglas St., Victoria • 5710 - 111th St., Edmonton • 6189 - 200th St., Langley • 15177 North Bluff Rd., White Rock • 8004 - 118th Ave., Edmonton • 650 Main St., Lillooet • 12893 - 16th Ave., White Rock • 89th Ave. & 114th St.., Edmonton • 23212 Dwedney Trunk Rd., • 9340 Connors Rd. NW, Edmonton Maple Ridge Manitoba • 121 Signal Rd., Fort McMurray • 459 Baker St., Nelson • 212 Main St., Morris • 22 Commercial Court, Fox Creek • 780 - 6th St., New Westminster • 395 Main St., Selkirk • 4916 - 50th Ave., Leduc • 3680 Mount Seymour Pkwy., • 110 Regent Ave. W., Winnipeg • 1502 - 9th Ave. S., Lethbridge North Vancouver (3)* • 1120 Grant Ave., Winnipeg AAB_p8_27FINAL.qxd 12/18/03 10:20 PM Page 26

26 | Affordable Accessible Banking | Public Accountability Statement 2003

• 1225 St Mary's Rd., Winnipeg • 1195 Walker's Line, Burlington • 419 King St. W., Oshawa • 2181 Portage Ave., Winnipeg • 162 Plains Rd. W., Burlington (2)* • 1400 Merivale Rd., Ottawa • 2450 Saskatchewan Ave., • 3500 Dundas St., Burlington • 2073 Montreal Rd., Ottawa Winnipeg • 75 Dundas St., Cambridge • 1183 Pinecrest Rd., Ottawa • 355 Portage Ave., Winnipeg • 651 Grand Ave. W., Chatham • 1559 Alta Vista Dr., Ottawa • 400 St. Mary Ave., Winnipeg • 3183 Errington St., Chelmsford • 180 Argyle St., Ottawa • 447 Portage Ave., Winnipeg • 100 Second Ave., Coniston • 1967 Riverside Dr., Ottawa • 888 Main St., Winnipeg • 716 14th St. W., Cornwall • 2685 Iris St., Ottawa • 932 Grosvenor Ave., Winnipeg (2)* • 301 King St. E., Gananoque • 4 Lorry Greenberg Dr., Ottawa (2)* • 96 - 1225 St. Mary's Rd., • 1980 Ogilvie Rd., Gloucester • 829 Carling Ave., Ottawa Winnipeg (3)* • 27 Main St. W., Grimsby (2)* • 685 - 6th St. E., Owen Sound • 324 Stone Rd. W., Guelph • 36 Seguin St., Parry Sound New Brunswick • 90 Gordon St., Guelph • 478 Exmouth St., Sarnia • 1142 Smythe St., Fredericton • 435 Stone Rd., Guelph • 1170 London Rd., Sarnia • 320 Elmwood Dr., Moncton • Hwy. #6 & R.R.6, Hagersville • 1660 Kingston Rd., Scarborough • 17 Centennial Ave., Stanley • 574 Concession St., Hamilton • 1201 Markham Rd., Scarborough • 135 Fennell Ave. W., Hamilton • 3850 Sheppard Ave. E., Newfoundland & Labrador • 1003 Mohawk Rd. W., Hamilton Scarborough • 132 Memorial Dr., Clarenville • 906 Main St. W., Hamilton • 2611 Lawrence Ave. E., • 430 Topsail Rd., St. John's Scarborough • 977 Fennell Ave. E., Hamilton • 125 Carlton St., St. Catharines • 338 10th St., Hanover Nova Scotia • 442 Niagara St., St. Catharines • 111 Main St., Kenora • 185 Main St., Antigonish • 417 Wellington St., St. Thomas • 24 The Queensway S., Keswick • 181 Commercial St., Berwick • 283 Hwy. 8, Stoney Creek • 157 Queen St., Killaloe Station • 450 LaHave St., Bridgewater • 1101 West Arthur St., • 76 Stuart St., Kingston • 71 Tacoma Dr., Dartmouth (3)* Thunder Bay • 256 Bagot St., Kingston • 91 Tacoma Dr., Dartmouth • 59 Mill St., Tilbury • 1020 Ottawa St. N., Kitchener • 963 Central Ave., Greenwood • 115 Gordon Baker Blvd., Toronto • 324 Highland Rd. W., Kitchener (3)* • 7015 Bayers Rd., Halifax • 1375 Queen St. W., Toronto • 700 Strasburg Rd., Kitchener (3)* • 5201 Duke St., Halifax • 1601 Eglinton Ave. W., Toronto (2)* • 650 Fanshawe Park Rd. W., • 1758 St. Clair Ave. W., Toronto • 7071 Bayers Rd., Halifax London • 2219 Bloor St. W., Toronto • 1809 Barrington St., Halifax • 400 Southdale Rd. W., London • 2407 Danforth Ave., Toronto • 11 Keltic Dr., Sydney River • 166 Dundas St., London • 245 Carlton St., Toronto • 813 Prince St., Truro • 97 Fanshawe Park Rd. E., London • 3351 Dundas St. W., Toronto (2)* • Moutainview Mall, Midland • 341 Silverthorn Ave. W., Toronto (2)* Ontario • 274 King St., Midland • 700 Bay St., Toronto • 135 Main St., Ailsa Craig • 6543 Airport Rd., Mississauga • 787 Annette St., Toronto (2)* • 33 Yonge St., Alliston • 120 Robertson Rd., Nepean • 302 Durham St., Walkerton • 15195 Yonge St., Aurora • 1512 Merivale Rd., Nepean • 419 Dundas St. E., Waterdown • 46 Dunlop St. E., Barrie • 3500 Carling Ave., Nepean (4)* • 9 Hamilton St. N., Waterdown • 470 Dundas St. E., Belleville • 3777 Strandheard Rd., Nepean • 55 Northﬁeld Dr. E., Waterloo • 49 Holland St. W., Bradford • 111 Garrison Village Dr., • 1 Kennedy Rd. S., Brampton Niagara-on-the-Lake • 800 Niagara St., Welland • 101278 Hurontario St., Brampton • 5600 Yonge St., North York (3)* • 2575 Jefferson Blvd., Windsor • 8200 Dixie Rd., Brampton (2)* • 3351 Bayview Ave., North York • 2751 Forest Glade Dr., Windsor • 170 Brantwood Park Rd., • 2839 Jane St., North York • 7656 Tecumseh Rd. E., Windsor Brantford • 3931 Don Mills Rd., North York • 1600 Tecumseh Rd. E., Windsor • 2 King George Rd., Brantford • 1430 Trafalgar Rd., Oakville • 14 Victoria St. E., Wingham • 48 Main St., Brighton • 1 - 350 Wentworth St. E., • 258 Mill St., Woodstock • 98 King St. W., Brockville Oshawa (2)* AAB_p8_27FINAL.qxd 12/18/03 10:20 PM Page 27

Public Accountability Statement 2003 | Affordable Accessible Banking | 27

Prince Edward Island • 6785, Route transcanadienne, • 390 University Ave., Pointe-Claire (3)* Charlottetown • 187, boul. Hymus, • Cornwall Shopping Plaza, Rte. #1, Pointe-Claire (3)* Cornwall (2)* • 213, rue Notre-Dame, Repentigny • 500, boul. Iberville, Repentigny Québec • 8315, Maurice Duplessis, • 71, rue Principale Sud, Amos Rivière-des-Prairies • 75, ch. Eardley, Aylmer • 1193, boul. Marcotte, Roberval • 200, rue Principale, Aylmer • 153, av. Murdoch, Rouyn-Noranda • 1065, boul. Laﬂèche, Baie-Comeau • 1700, rue Montarville, Saint- Bruno • 1220, rue Provancher, Cap-Rouge (2)* • 2880, ch. des Quatre-Bourgeois, Sainte-Foy • 1000, 80e Rue Est, Charlesbourg • 5950, boul. Cousineau, • 175, rue Principale, Cowansville Saint-Hubert • 355, boul. Saint-Joseph, • 1563, boul. St-Sacrement, Drummondville Shawinigan • 25, chemin de la Savane, • 450, rue King O., Sherbrooke Gatineau • 22, boul. Arthur-Sauvé, • 10, rue Simonds S., Granby St-Eustache • 200, boul. de la Technologie, Hull • 231, rue Ouimet, St-Jovite • 320, boul. St-Joseph, Hull • 8485, boul. Viau, St-Léonard • 25, boul. Don Quichotte, • 5705, boul. des Forges, Île-Perrot Trois-Rivières • 5000, boul. de l’Ormière, • 4125, boul. des Forges, Les Saules Trois-Rivières • 780, boul. St-Laurent, Longueuil • 7101, rue Jarry E., Ville D’Anjou • 99, place Charles-Le Moyne, Longueuil Saskatchewan • 555, boul. Albiny Paquette, Mont- Laurier • 202 Centre St., Meadow Lake • 5100, boul. de Maisonneuve O., • 1262 - 101st St., North Battleford Montréal • 6th Ave. E. & Branion, Prince • 200, boul. René-Lévesque O., Albert (2)* local 5A, Montréal • 1132 Central Ave., Prince Albert • 8000, boul. Décarie, Montréal • 1463 Albert St., Regina • 6595, av. Somerled, Montréal • 601 - 51st St. E., Saskatoon • 5, av. Broadway, Montréal-Est (2)* • 3124 - 8th St. E., Saskatoon • 4936, boul. St-Jean, Pierrefonds (2)* • 320 Circle Dr. E., Saskatoon • 13200, rue Sherbrooke E., Pointe-aux-Trembles

* Denotes number of ABM machines SmallBus_p28_45FINAL.qxd 12/18/03 10:25 PM Page 28

31 Small business in Canada Canada’s small business sector is expanding as more Canadians choose to become entrepreneurs. 33 CIBC Small Business CIBC is focused on meeting the ﬁnancial needs of Canada’s small business owners. We’re improving and simplifying our processes and offering a wider range of services. 35 Initiatives for 2003 Support for CIBC made signiﬁcant progress in 2003 by introducing new and innovative personal and Small Business business banking solutions for entrepreneurs. 38 Corporate contributions CIBC continues to support national and regional programs that foster the growth of small business and entrepreneurship in Canada.

to view the online version go to www.cibc.com/pas Public Accountability Statement 2003 | Support for Small Business | 29

CIBC is committed to Canada’s small business sector, with over 1,300 small business advisors across the country who are dedicated professionals, working alongside entrepreneurs to help them address the financial priorities of their businesses. As Small Business today’s ranks of entrepreneurs grow, we Support for will be there to support them, providing expertise and easy access to credit financing opportunities, as well as other innovative financial services to meet their requirements and help drive small business in Canada forward. 30 | Support for Small Business | Public Accountability Statement 2003

Support for Small Business

For the first time in more than 20 years, Canadian independent business activity outpaced all other areas of the economy during a time of economic slowdown. In 2001 small business activity exceeded all other sectors in the Canadian economy, and the small firms were first to capitalize on a better than expected performance of the economy in the following year.

Canada’s small business sector is also in the midst of a structural expansion due to longer-term changes taking place in the economy. By the end of this decade, it’s expected that one in ﬁve Canadians will be small business owners, running their own enterprises.

In Canada’s changing ﬁnancial services industry, CIBC continues to strive to be the bank for small business. At year-end 2003, CIBC and its listed afﬁliates had just under 470,000 small business customers. In addition, CIBC extended more credit to Canadian business owners than ever before, in excess of $24.9 billion in total authorizations1. Of that $24.9 billion, more than $4.8 billion in authorizations in this category were made to agricultural businesses across Canada.

Beyond our valued banking relationship with Canada’s small business owners, CIBC also has a proud history of encouraging growth of entrepreneurial culture across the country. We are committed to the development of the small business sector through our support of national and regional programs that promote entrepreneurship.

Small business customers are deﬁned by CIBC as self-employed owners who depend upon their business for their personal livelihood, who may or may not employ others, and whose personal and business affairs are interconnected. Typically, the bank’s small business customers have less than $5 million in sales and less than $1 million in credit requirements. CIBC takes a fully integrated approach to providing

1 Authorizations is deﬁned as total authorizations per customer of less than $5 million in authorized credit facilities.

CIBC is committed to being the #1 bank for small business in Canada by providing the ﬁnancial solutions that meet customer requirements. SmallBus_p28_45FINAL.qxd 12/18/03 10:25 PM Page 31

Public Accountability Statement 2003 | Support for Small Business | 31

ﬁnancial services to these customers, offering a suite of products that fully addresses both personal and business needs.

Small business in Canada As part of its ongoing initiative to better understand small business behaviour and gain greater insight into the business priorities of today’s entrepreneurs, CIBC will continue to poll the small business marketplace. Based on this information, the bank will identify measures we can take to support them over the short and long term.

The recent CIBC/Decima poll examined the entrepreneurial impact of various shocks that have occurred over the past year. Among other challenges, entrepreneurs have had to contend with rising insurance premiums, SARS, Mad Cow disease, the war in Iraq and a stronger dollar. Despite these setbacks, Canadian small business owners have shown remarkable resiliency.

The survey found that more than 80 per cent of those suffering negative impacts on revenues as a result of these setbacks do not call into question their decision to become entrepreneurs.

In addition, CIBC conducts periodic surveys to track macroeconomic trends and analyse business sector activity to forecast the inﬂuence of small businesses on Canada’s economy. In October 2003, CIBC released a report entitled Canadian Small Business – A Growing Force. The following summarizes its key ﬁndings: • Beyond strong performance in the economic cycle, evidence points to a protracted expansion of the small business sector over the next decade, as increasing numbers of Canadians elect to become entrepreneurs and start their own businesses. This is due to strategic forces now at work in the economy, including demographic trends, globalization and the growth of technology, which are reshaping business priorities of present day entrepreneurs and attracting more and more Canadians to their ranks. • The unprecedented ability of small businesses to navigate the economic challenges of the past three years is a result of their reliance on the health of Canadian consumers. Real consumer spending has risen by an annual average of 3.3 per cent since 2000, single-handedly sustaining the Canadian economy.

Through greater understanding of the business priorities of entrepreneurs, CIBC will identify opportunities to support them over the short and long term. SmallBus_p28_45FINAL.qxd 12/18/03 10:25 PM Page 32

32 | Support for Small Business | Public Accountability Statement 2003

• Most likely, the critical factor behind the enduring strength of the consumer has been the dramatic drop in both short-term and long-term interest rates. As well, the low interest rate environment has profoundly benefited small firms, giving them an increased appetite for credit to finance their growth. Small business credit has increased by more than two per cent since 2000, in stark contrast to large companies where overall credit outstanding fell by three per cent over the same period. • Unquestionably, the strength of the consumer is the defining feature of robust small business performance in the current economic cycle. There is a strong link between consumer spending and the vitality of this sector in Canada, and it is getting even stronger. CIBC estimates that for every one per cent increase in consumer spending there is an accompanying 0.7 per cent increase in small business activity – almost 20 per cent higher than 15 years ago. • After the economic shocks of 2003, the Canadian economy in general, and the small business sector in particular, is poised for a recovery year. Given that small firms tend to outpace the economy during recovery years, small business activity should increase by 3.5 per cent next year, though the pace of growth may be below the average rate seen over the last five years. • Demographic change is reshaping the small business sector and pushing it forward as Canada’s older, more experienced and productive baby boom generation evolves toward self-employment. As well, rising numbers of Canadian immigrants, as well as children of the self-employed, are swelling the small business ranks, launching enterprises across Canada and developing markets in their countries of origin. • Globalization, new information technologies, electronic commerce and the arrival of the networked marketplace have created ideal conditions for more small firms to export, connecting seamlessly with global markets and building customer bases anywhere in the world.

In summary, small businesses are fundamental to Canada’s economy and their importance is growing. They are needed by society for job creation and employment, and they’re increasingly in demand by consumers, particularly in the large urban centres, to meet specialized, niche-oriented needs. The entrepreneurial culture shift is coming in the next ﬁve years, and Canada should be ready for more small businesses to extend their inﬂuence over the economy as a whole.

CIBC will continue to survey the small business marketplace to better understand its greatest opportunities and challenges. Where we can provide solutions, we will do so. For example, we have a hard- ship policy in place to assist small businesses faced with disasters, such as forest ﬁres, ﬂoods, SARS or

Small businesses are fundamental to Canada’s economy and their importance is growing as more Canadians become entrepreneurs. SmallBus_p28_45FINAL.qxd 12/18/03 10:25 PM Page 33

Public Accountability Statement 2003 | Support for Small Business | 33

Mad Cow disease. With respect to issues we are unable to directly address, we can work towards building a greater awareness of the state of the small business marketplace.

CIBC Small Business CIBC is focused on the financial needs of small business owners across Canada. Entrepreneurs require access to a wide range of professional expertise to support their operations and make them efficient. For financial services, they need a skilled relationship manager like CIBC Senior Business Advisor Joanne De Luca who understands her clients’ businesses and takes the time to learn what she can do to contribute in a meaningful way to their success. Recognized in 2003 by PROFIT magazine as one of Canada’s best bankers, De Luca serves a broad range of small and medium-sized businesses in the Laval area on Montreal’s north shore.

PROFILE Joanne De Luca, Senior Business Advisor: Laval, Quebec CIBC Small Business

“Understanding my clients’ businesses is extremely important,” says CIBC’s Senior Business Advisor Joanne De Luca, who serves small and medium-sized business clients in Quebec’s Laval area and Montreal region. “It’s the ﬁrst step towards helping them to make better decisions and to provide them with ﬁnancial products and services that meet their requirements.”

As many of her customers will agree, De Luca is everything that a small business banker should be. Dedicated to delivering outstanding client service that gets results, she prides herself on understanding her clients’ businesses. With this knowledge, she can put together the right package of integrated, custom ﬁnancial solutions for customers, and offer valuable, expert advice to meet their changing personal and business needs, helping them to plan for the future.

“Entrepreneurs know their business better than anybody,” says De Luca. “By asking the right questions and listening to the answers, I can really appreciate their issues and make a contribution to their success.”

To better meet the needs of Canada’s entrepreneurs, CIBC is making progress in addressing the two biggest issues in small business banking: access to capital and the turnover of account managers.

CIBC Senior Business Advisor Joanne De Luca takes the time to understand her clients’ needs, so that she can contribute to their success. SmallBus_p28_45FINAL.qxd 12/18/03 10:25 PM Page 34

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To improve access to capital, CIBC has streamlined and simpliﬁed the credit application process. Entrepreneurs now have access to fast and simple loans and lines of credit for amounts up to $100,000. In addition, the new credit process does not require business plans or detailed ﬁnancial statements. CIBC has also introduced a simpler business account opening process, straightforward fee packages and access to online and telephone banking at no extra charge.

CIBC also appreciates the challenges that many small business owners face when applying for a mortgage. With the growth in micro-businesses and home ofﬁces, we felt a strong need to design a mortgage product that is entrepreneur-friendly. That’s why CIBC launched a special mortgage product for self-employed people that features a no-hassle approval process, often with no proof of income required.

In addition, we are making it easier for entrepreneurs to get started. CIBC offers credit of up to $30,000 for businesses less than two years old, with no business plan or ﬁnancial statements required.

CIBC is also addressing the second major issue in small business banking: account manager turnover, especially in urban markets. CIBC has a business advisory team approach in place. This means that more than one business advisor is required to be familiar at all times with each small business customer and their unique business banking requirements. Our approach provides small business customers with the continuity they require in their banking relationship. While we have made signiﬁcant progress with these issues, we will strive for continual improvement.

CIBC’s national network of branches and its online banking and telephone banking delivery channels provide easy access for its small business customers to choose the ﬁnancial products and services they need. The bank’s team of small business professionals is located nationwide, in both urban centres and rural areas, to meet the needs of entrepreneurs wherever they are located.

In addition, CIBC Small Business has a national network of agricultural ﬁnance specialists. These specialists have both small business banking expertise and signiﬁcant farm experience, and are knowledgeable in a broad range of critical subject areas, including farm loans, economic forecasting, and general farm management and planning.

CIBC has made signiﬁcant progress in designing new and innovative personal and business banking solutions for small business owners. SmallBus_p28_45FINAL.qxd 12/18/03 10:25 PM Page 35

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CIBC’s National Franchise Services Group provides franchisee customers across the country with expert advice and a comprehensive selection of personal and business ﬁnancial products and services through its national network of branches and ﬁnance program arrangements with a large number of franchise systems.

CIBC is also making concerted efforts to improve service levels on an ongoing basis. To do this, we recently introduced National Service Standards of Excellence, a set of foundation standards intended to enhance the customer experience in small business banking. We also have a problem resolution code in place, as well as a complaint handling kit to support staff in their efforts to provide a consistently high level of service when addressing customer concerns.

Initiatives for 2003 CIBC has made signiﬁcant progress in designing new and innovative personal and business banking solutions for small business owners. Talking to customers and listening to their needs has helped us to understand what they want from their bank.

While small businesses want their issues to be heard and their challenges to be acknowledged, they also want to see action from their ﬁnancial services provider. CIBC is committed to being the #1 bank for Canadian small business by providing smart ﬁnancial solutions for our customers, taking the initiative to improve their access to credit and making their overall banking experience more hassle free. We are going to get there by: • Listening to the needs of our customers • Enhancing and simplifying our processes so that our customers can do business with us as quickly and easily as possible, and • Transforming our customers’ requirements into market-leading products that are easy to understand, easy to buy and easy to use.

Although we have made progress, Canadian small businesses want more from their bank. At CIBC, we are committed to the small business marketplace. As the needs of entrepreneurs change, CIBC will adapt to meet these challenges.

In 2003, CIBC launched a number of new initiatives and product enhancements, and made improvements to the branch network and electronic channels that enabled us to take our small business offer

Talking to our customers and understanding their needs is helping CIBC appreciate what entrepreneurs want from their bank. SmallBus_p28_45FINAL.qxd 12/18/03 10:25 PM Page 36

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to the next level, delivering an all-round banking experience that meets the financial requirements of our small business customers more effectively. These financial solutions included: • CIBC Small Business Credit Edge™ product, which was expanded in 2002 to allow more businesses to apply and qualify, offers customers up to $100,000 either as a loan or line of credit, or a combination of both, and a simple application process requiring minimal personal and business information. • During 2003, this innovative credit product was further enhanced to provide customers, in most cases, with an on-the-spot credit decision, compared to the previous two-business-day turn- around. Also, startups and businesses in operation for less than two years can qualify for a SBCE loan and/or line of credit of up to $30,000. • Year over year, CIBC saw a 25 per cent in business and agricultural customers borrowing less than $100,000, and total authorizations to these customers grew by almost 40 per cent. • The CIBC Self-Employed Recognition Mortgage™ product, introduced in 2003, makes it easier for entrepreneurs to buy a home. With a more streamlined application process, approval is based on the borrower’s personal credit history and personal equity, taking the customer’s whole financial picture into consideration. In most cases, a simple declaration of income replaces the detailed financial statements that were previously required. • The bizLine™ VISA® card, launched in October, is a no-fee credit card developed to meet the needs of small and startup businesses. It combines the high credit limit and low interest rate of a line of credit with the convenience and worldwide acceptance of a VISA credit card. • CIBC Foreign Exchange Online, an enhanced foreign exchange offer allowing customers to manage risk and conduct currency transactions, was expanded to enable entrepreneurs to create a forward exchange contract through their Small Business Credit Edge credit facility. With the appreciation of the dollar, this has allowed business owners to mitigate its adverse effects on their U.S. Dollar receivables. • Flexible, secure investment options for surplus funds. CIBC is building on the success of last year’s launch of three-year CIBC Escalating Rate GICs™ with the introduction of its five-year CIBC Escalating Rate GICs that offer customers higher interest rates and more long-term investment options. • The CIBC Commercial Choice Mortgage™ program, specifically designed to provide mortgage financing for small commercial real estate property. The program provides financing of $250,000 up to $1 million and features a streamlined application process where the appraisal and bank’s legal fees are included to minimize the borrower’s expenses. Eligible properties include multi-residential units, retail plazas and freestanding properties, industrial buildings, and office and medical buildings. SmallBus_p28_45FINAL.qxd 12/18/03 10:25 PM Page 37

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• In addition, CIBC launched its redesigned CIBC Online Banking website to make the online banking experience more straightforward for small business customers. With an improved, more customer- friendly look and feel, the new site has enhanced navigation and is easier to use. Customers with personal and business relationships with CIBC now have a more consistent and productive online experience that enables them to complete all of their day-to-day banking transactions more quickly and efﬁciently.

PROFILE Sherine Clarke, Owner-Manager: Toronto, Ontario Grand Horizons Catering

“I wanted somebody who really understood small business and that’s what I found at CIBC,” says owner-manager Sherine Clarke of Grand Horizons Catering, a newly established family-run hospitality business in Toronto’s west end.

CIBC Senior Business Advisor Remus Voinic meets with Sherine Clarke and Elma Balfour of Grand Horizons Catering in Toronto’s west end. SmallBus_p28_45FINAL.qxd 12/18/03 10:25 PM Page 38

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Having a close banking relationship was an important priority. Clarke looks to her bank for advice and guidance, so that she always stays on the right track. Immediately, CIBC exceeded her expectations, helping her to set up an operating line of credit that will more than ﬁnance current obligations and give her the peace of mind and focus for planning the company’s future.

“I have a very positive feeling about CIBC,” says Clarke. “My relationship manager made the whole process very easy, explaining the bank’s fees and showing us our best options. It made such a difference, as it lets us concentrate on building the business, so that we can take it where it needs to go.”

Corporate contributions In 2003, CIBC Small Business continued its support of a cross-section of national and regional programs that foster the growth of small business through funding, as well as the efforts of employee volunteers, to further the development of entrepreneurship in Canada.

HERE ARE SOME EXAMPLES OF CIBC’S SUPPORT:

Advancing Canadian Entrepreneurship (ACE) – CIBC is a founding corporate sponsor and has been an ongoing supporter of this organization since 1995. In 2003, the bank renewed its commitment with sponsorship of Student Business Owners, ACE’s newest program to address the needs of university and college students across Canada who are operating their own businesses while attending school. Through the program, ACE students share their business insights with student entrepreneurs, offering both groups a unique opportunity to network with their peers and to learn from each other.

As a long-term sponsor, CIBC is helping to build an entrepreneurial culture in Canada where innovation and creativity are valued, enabling ACE students to practise as entrepreneurs, teach others what they have learned, and compete for various ACE awards in celebration of entrepreneurship. The CIBC Student Entrepreneur of the Year Award is open to full-time students at Canadian universities or colleges who are currently running their own businesses. SmallBus_p28_45FINAL.qxd 12/18/03 10:25 PM Page 39

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PROFILE Oliver Towstiak-Davis, Owner, Green Meadows Lawn Services: Stittsville, Ontario CIBC Student Entrepreneur of the Year Award 2003

Encouraging the entrepreneurs of tomorrow is an important way of ensuring the future of Canada’s small business sector and that our economy continues to grow. CIBC is committed to helping them succeed by supporting initiatives that foster entrepreneurial, community- minded youth.

That’s the idea behind the CIBC Student Entrepreneur of the Year Award, which celebrates the achievements of full-time Canadian university and college students running their own businesses. This year’s award went to Oliver Towstiak-Davis, owner of Green Meadows Lawn Services, a full-service landscaping and gardening business in Stittsville, Ontario.

Towstiak-Davis, a student at Wilfrid Laurier University, showed a ﬁrm grasp of his understanding of the customer and his dedication to service. And, with a 100 per cent customer retention rate, he’s the envy of every business, big or small.

CIBC Innovation in Economic Development Fund at the Canadian Women’s Foundation (CWF) – CIBC continued its support of CWF’s national program committed to creating systemic change that will bring independence and economic self-sufﬁciency to women and girls in Canada. CIBC’s $600,000 donation over ﬁve years is aligned to the CWF Economic Development Collaborative Fund. The bank is a full participant in the Fund, which comprises a number of partners who have come together to support a diverse portfolio of economic development projects in Canada for women.

The Collaborative Fund has five main components, including awarding grants for projects; providing technical assistance for additional learning; monitoring and evaluation; research, learning and policy work; and the National Skills Institute. The goal of the Institute is to increase the effectiveness of community organizations in their economic development work with low-income women. To be convened annually for each of the five years of the Collaborative Fund, the Institute held its first proceeding in 2003 as a series of regional workshops in Montreal, Toronto, Calgary and Vancouver.

CIBC Student Entrepreneur of the Year Oliver Towstiak-Davis runs his landscaping and gardening business while pursuing university studies. SmallBus_p28_45FINAL.qxd 12/18/03 10:25 PM Page 40

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University of Manitoba, Faculty of Agricultural and Food Sciences – CIBC continued to support the work of the recently created Richardson Centre for Functional Foods and Nutraceuticals. The centre, which was funded through a partnership between the Government of Canada, the Province of Manitoba and the private sector, undertakes research on crops grown in the Prairies.

CIBC supports entrepreneurship and agricultural programs in post-secondary institutions.

University of Saskatchewan – Following on CIBC’s $750,000 donation in 2002, the bank assisted the CIBC Centre for Agricultural Entrepreneurship in an advisory capacity to help College of Agriculture students prepare themselves for working in the agri-business industry. The centre will enhance the teaching of entrepreneurship and employability skills by introducing a wider range of work experiences from successful entrepreneurs and successful agri-business enterprises.

Canadian 4-H Council – CIBC extended its longstanding membership of this organization with a $33,500 donation in 2003 in support of regional programs and to provide funding for an annual conference. Canada’s longest running rural-based youth development organization, 4-H helps rural SmallBus_p28_45FINAL.qxd 12/18/03 10:25 PM Page 41

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communities improve agricultural practices, increase production and enrich the rural experience. Open to boys and girls between the ages of six and 21, the organization focuses on developing rounded, responsible and independent citizens through technical skills development, club projects and recreational activities.

Canada’s Outstanding Young Farmer Program – In 2003, CIBC sponsored the national competition to select Canada’s outstanding young farmers aged up to 35 years old who have demonstrated outstanding entrepreneurial management, industry leadership, community involvement and innovation in agricultural production and marketing.

Scarborough Chamber of Commerce – CIBC is a proud sponsor of the Scarborough Chamber of Commerce Business Excellence Awards. We acknowledge the Chamber of Commerce’s efforts to promote a business climate that emphasizes competitiveness, proﬁtability and job creation for all businesses across the country.

Greater Toronto Marketing Alliance (GTMA) – CIBC is a founding partner and ongoing active supporter of GTMA since it was established in 1998. With CIBC President and Chief Executive Ofﬁcer John Hunkin serving as Honorary Co-Chair, the bank continues to play a strong leadership role in this organization, which is an innovative public-private partnership in the Greater Toronto Area (GTA) focused on attracting international investment and employment to the region. The GTMA acts as a central point of contact for prospective international investors and business inquiries in the GTA, providing essential information and site selection services.

Junior Achievement – CIBC supports numerous regional Junior Achievement charters across the country, contributing more than $150,000 in 2003. As well, CIBC Small Business employees volunteer their time to help young people discover leadership, entrepreneurship and workforce readiness skills. In Southern Alberta, CIBC has been a principal sponsor of the Student Venture Program since 1996, equipping high school students with the knowledge and concepts necessary for creating and running their own businesses. The program’s goal is to provide a relevant and realistic opportunity for students to acquire and develop skills and attitudes that are enterprising and entrepreneurial in nature, encouraging them to be self-starters and more self-reliant.

CIBC supports many Junior Achievement chapters across the country to help young people discover entrepreneurship and workforce readiness skills. SmallBus_p28_45FINAL.qxd 12/18/03 10:25 PM Page 42

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CIBC and its listed affiliates debt financing to firms in Canada As at October 31, 2003

For authorization levels of: $0 – $24,999

Province Authorizations Outstandings Customers Alberta $ 73,542,386 $ 37,490,076 9,225 British Columbia 92,135,636 38,949,246 12,612 Manitoba 19,365,766 10,837,602 2,306 New Brunswick 7,395,755 3,644,646 946 Newfoundland and Labrador 7,608,136 3,558,991 1,077 Northwest Territories 1,739,121 814,277 255 Nova Scotia 13,714,445 6,695,292 1,981 Nunavut 23,144 23,144 9 Ontario 323,513,721 129,399,663 42,396 Prince Edward Island 3,854,086 2,210,803 491 Quebec 65,465,332 28,928,953 8,147 Saskatchewan 25,953,757 16,065,437 3,040 Yukon 2,060,690 998,280 280 Total $ 636,371,973 $ 279,616,410 82,765

For authorization levels of: $25,000 – $99,999

Province Authorizations Outstandings Customers Alberta $ 336,739,208 $ 191,215,488 6,484 British Columbia 390,320,888 212,268,248 7,540 Manitoba 92,489,496 59,993,354 1,785 New Brunswick 36,125,759 18,398,469 725 Newfoundland and Labrador 37,749,112 20,744,596 742 Northwest Territories 7,326,632 3,478,561 144 Nova Scotia 65,690,653 38,153,657 1,276 Nunavut 95,715 79,915 1 Ontario 1,493,157,430 821,535,785 27,655 Prince Edward Island 18,388,375 12,352,245 347 Quebec 284,306,205 150,589,530 5,411 Saskatchewan 153,053,216 98,442,617 2,934 Yukon 5,222,618 3,009,904 103 Total $ 2,920,665,309 $ 1,630,262,370 55,147 SmallBus_p28_45FINAL.qxd 12/18/03 10:25 PM Page 43

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For authorization levels of: $100,000 – $249,999

Province Authorizations Outstandings Customers Alberta $ 403,687,966 $ 207,714,436 2,817 British Columbia 421,885,347 225,770,355 3,073 Manitoba 111,988,883 59,374,892 789 New Brunswick 29,185,029 14,333,037 209 Newfoundland and Labrador 33,265,789 16,508,639 239 Northwest Territories 8,926,792 4,699,644 58 Nova Scotia 54,767,154 30,627,562 383 Nunavut 642,171 486,524 3 Ontario 1,598,503,205 939,088,623 10,235 Prince Edward Island 22,602,383 12,350,578 155 Quebec 285,259,982 152,730,198 2,039 Saskatchewan 168,347,784 89,781,413 1,141 Yukon 7,268,100 4,544,864 50 Total $ 3,146,330,585 $ 1,758,010,766 21,191

For authorization levels of: $250,000 – $499,999

Province Authorizations Outstandings Customers Alberta $ 439,408,886 $ 235,071,593 1,273 British Columbia 379,399,450 210,841,278 1,095 Manitoba 112,350,181 58,781,900 326 New Brunswick 37,453,006 18,768,482 105 Newfoundland and Labrador 32,784,267 16,775,009 94 Northwest Territories 11,559,153 5,148,764 34 Nova Scotia 47,864,650 25,162,705 136 Nunavut 2,149,888 1,896,910 5 Ontario 1,414,002,578 959,780,089 2,709 Prince Edward Island 22,788,463 11,582,688 62 Quebec 285,907,663 147,458,927 828 Saskatchewan 156,545,286 78,993,737 458 Yukon 7,059,956 4,070,166 19 Total $ 2,949,273,426 $ 1,774,332,248 7,144 SmallBus_p28_45FINAL.qxd 12/18/03 10:25 PM Page 44

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For authorization levels of: $500,000 – $999,999

Province Authorizations Outstandings Customers Alberta $ 515,200,509 $ 288,000,125 759 British Columbia 418,659,686 246,253,168 625 Manitoba 175,145,422 88,455,100 256 New Brunswick 36,772,434 21,743,313 55 Newfoundland and Labrador 35,696,109 16,129,451 53 Northwest Territories 17,096,135 7,920,495 26 Nova Scotia 72,036,358 40,225,284 107 Nunavut 1,221,513 1,121,513 2 Ontario 2,034,540,871 1,479,272,121 1,773 Prince Edward Island 38,508,534 19,265,985 55 Quebec 356,472,294 202,313,859 526 Saskatchewan 145,672,908 73,134,301 214 Yukon 6,705,803 2,809,262 10 Total $ 3,853,728,576 $ 2,486,643,976 4,461

For authorization levels of: $1,000,000 – $4,999,999

Province Authorizations Outstandings Customers Alberta $ 1,255,002,972 $ 676,434,304 626 British Columbia 1,196,793,633 668,933,382 601 Manitoba 481,246,662 278,218,658 231 New Brunswick 65,837,866 34,627,661 36 Newfoundland and Labrador 55,341,834 26,453,603 29 Northwest Territories 51,139,691 22,755,552 25 Nova Scotia 187,096,524 88,357,451 93 Nunavut 1,085,270 1,002,050 1 Ontario 6,765,962,874 5,296,065,654 1,759 Prince Edward Island 115,626,297 67,309,097 63 Quebec 956,579,311 476,107,383 450 Saskatchewan 264,522,241 131,384,072 144 Yukon 15,892,064 8,645,057 7 Total $11,412,127,241 $ 7,776,293,925 4,065 SmallBus_p28_45FINAL.qxd 12/18/03 10:25 PM Page 45

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For authorization levels of: $5,000,000 and over1

Province Authorizations Outstandings Customers Alberta $ 10,883,617,659 $ 2,875,329,470 222 British Columbia 3,228,697,016 1,147,720,759 148 Manitoba 2,761,277,290 706,998,546 58 New Brunswick 640,711,827 164,361,975 16 Newfoundland and Labrador 338,095,189 233,615,356 11 Northwest Territories 64,508,010 24,372,047 7 Nova Scotia 1,292,207,807 379,250,798 38 Nunavut – – – Ontario 39,222,244,351 9,729,868,293 750 Prince Edward Island 34,820,575 24,490,983 3 Quebec 5,720,066,423 2,079,809,798 186 Saskatchewan 450,579,289 76,388,582 20 Yukon 40,000,000 433 1 Total $ 64,676,825,436 $ 17,442,207,040 1,460

1 Loans over $5 million have declined year over year as a result of the successful execution of our strategy to reduce capital in our wholesale lending book and the reclassiﬁcation of certain assets from Canada to the U.S. related to our securitization business.

Total all authorization bands

Province Authorizations Outstandings Customers Alberta $ 13,907,199,585 $ 4,511,255,492 21,406 British Columbia 6,127,891,656 2,750,736,437 25,694 Manitoba 3,753,863,700 1,262,660,051 5,751 New Brunswick 853,481,677 275,877,584 2,092 Newfoundland and Labrador 540,540,437 333,785,647 2,245 Northwest Territories 162,295,533 69,189,341 549 Nova Scotia 1,733,377,589 608,472,749 4,014 Nunavut 5,217,701 4,610,058 21 Ontario 52,860,565,730 19,363,650,928 87,277 Prince Edward Island 256,588,714 149,562,378 1,176 Quebec 7,945,416,510 3,229,297,947 17,587 Saskatchewan 1,364,674,481 564,190,159 7,951 Yukon 84,209,230 24,077,966 470 Total $ 89,595,322,545 $ 33,147,366,736 176,233 Comm_p46_79FINAL.qxd 12/18/03 10:32 PM Page 46

48 Corporate contributions The CIBC group of companies contributes to national, regional and local organizations in communities across Canada. 59 Employee initiatives CIBC proudly supports its employees who volunteer their time and effort to raise millions of dollars for their chosen charitable causes every year. 65 Employer of choice CIBC is working to become the employer of choice in Canada’s ﬁnancial services industry. Community 70 Employment in Canada and Social CIBC is one of Canada’s largest employers. Development 71 Taxes in Canada In 2003, CIBC paid taxes to all levels of government, including income and capital taxes, payroll, property and sales taxes.

to view the online version go to www.cibc.com/pas Public Accountability Statement 2003 | Community and Social Development | 47

Community and social development is a priority for CIBC. We are committed to supporting the activities of our employees and enhancing the economic, social and cultural well-being of the communities in which we operate. The CIBC group of companies is one of Canada’s leading Social Development Community and corporations, with more than 36,000 employees working in communities across the country. 48 | Community and Social Development | Public Accountability Statement 2003

Community and Social Development

CIBC is committed to the concept of sustainability and to having a positive, enduring impact on the communities where we do business. The bank has a long and proud tradition of leadership, service and visibility in the community. We consider this the hallmark of the socially responsible corporation, our investment in the well-being of our customers and employees, and a manifestation of our determination to make a sustainable contribution to the communities where they work and live.

Corporate contributions In 2003, the CIBC group of companies contributed more than $48 million worldwide, including over $25 million in Canada. This includes charitable donations of more than $21 million and community sponsorships of over $4 million to support hundreds of national, regional and local organizations in communities across the country. We are proud to support the achievements of our community partners in helping Canada to grow strong. Together, we can make an important contribution to what matters in the lives of Canadians.

Supporting Canada’s young people is a key focus of our commitment to the community. Our country’s youth is its future and CIBC has a long history of making a difference in the lives of young Canadians. In 2003, more than $9 million was allocated under the CIBC Youthvision™ umbrella, which includes all of the youth-related initiatives funded by the bank.

CIBC employees play an invaluable role in the development of Canadian communities where they live and work. Across the country, they contribute to the health and well-being of the community through volunteerism, freely giving their time and expertise for good causes. The bank supports that commitment through its Employee as Ambassador Program, through which up to $1,000 per employee is donated to charitable or not-for-proﬁt organizations where employees volunteer. In 2003, CIBC supported the volunteer efforts of its employees with over $300,000 in contributions to organizations on behalf of its employees.

Corporate Knights – CIBC placed 5th in the Corporate Knights Best 50 Corporate Citizens index ranking companies on the basis of achievement in community, employee relations and workplace diversity, product safety and business practices, and international performance. Comm_p46_79FINAL.qxd 12/18/03 10:32 PM Page 49

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In addition, CIBC supports the commitment and volunteer efforts of employees who raise millions of dollars annually for their chosen causes through high-proﬁle national events, such as the CIBC Run for the Cure™, the CIBC World Markets Children’s Miracle Day™, United Way campaigns, as well as numerous regional and local community activities.

CIBC makes a positive impact on the lives of employees by focusing on the issues that matter to working Canadians. The bank pursues initiatives that can provide a challenging, caring and rewarding environment for employees, and is committed to attracting and retaining the brightest and the best of Canada’s employees to make CIBC the employer of choice in the Canadian ﬁnancial services industry.

CIBC Youthvision Launched in 1998, CIBC Youthvision represents the bank’s investment in the education, development and growth of Canada’s young people. Through CIBC Youthvision, millions of dollars are contributed every year to hundreds of organizations to support education, research, mentoring and skills development. The bank proudly works alongside a wide variety of community partners to assist young Canadians in fulﬁlling their dreams and realizing their potential.

At the 2003 awards presentation, CIBC President and Chief Executive Ofﬁcer John Hunkin congratulates CIBC Youthvision Scholarship recipient Rajiev Krishnakhanthan, joined by big brother, Ken Booker and Alpine Canada Alpin ski team member, Julien Cousineau. Comm_p46_79FINAL.qxd 12/18/03 10:32 PM Page 50

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HERE ARE JUST A FEW EXAMPLES OF CIBC’S COMMUNITY CONTRIBUTIONS IN 2003:

CIBC Youthvision Scholarship Program – Our ﬂagship program is a unique partnership with Big Brothers Big Sisters of Canada and YMCA Canada. Each year, 30 scholarships valued at up to $34,000 each are awarded to Grade 10 students enrolled in mentoring programs with these charitable partners. Scholars receive tuition of up to $4,000 per year for up to four years of post-secondary education, as well as an opportunity to participate in YMCA summer internships valued at up to $2,000 per year while in high school and up to $4,000 while in college or university. CIBC’s total multi-year commitment to this program exceeds $5 million.

To date, 150 scholarships have been awarded to students across Canada. Being awarded a CIBC Youthvision Scholarship has made a big difference to the lives of young Canadians like Jacob Bleakley of Toronto, Ontario by making it possible to stay in school and receive ﬁnancial, mentoring and internship support, while beneﬁting from post-secondary education.

PROFILE Jacob Bleakley: Toronto, Ontario CIBC Youthvision Scholar

“It’s made a huge difference in my life,” says Jacob Bleakley, one of the ﬁrst recipients of a CIBC Youthvision Scholarship and now a second-year undergraduate at Mount Allison University in Sackville, New Brunswick. “I’ve been able to appreciate just how valuable education is and how it can open doors for me.”

A 10-year veteran of Big Brothers Big Sisters mentoring program in Toronto, Jacob gives all the credit to his mother and big brother who insisted that he apply for the scholarship and ﬁnish his education. Winning has enabled him to attend the university of his choosing, while providing the security of regular summer employment as a YMCA intern.

“I’ve really learned so much and understand a lot more about working as a member of a team,” says Bleakley. “It’s been a tremendous experience that’s had a big impact on me and made me more conﬁdent about the future.”

At YMCA’s ofﬁces in Toronto, CIBC Youthvision scholar Jacob Bleakley meets with his big brother, Michael Fenten, during his summer internship. Comm_p46_79FINAL.qxd 12/18/03 10:32 PM Page 51

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Fondation Charles-Bruneau – CIBC donated $25,000 over two years to help fund research into and treatment of cancer among children. The hospital treats different forms of cancer in children from infancy to 18 years of age.

Leave Out ViolencE (LOVE) – In 2003, CIBC committed $75,000 over three years as a program partner to support LOVE’s United Youth Against Bullying initiative, an elementary school outreach program teaching youth to reject violence in their lives and in their communities. Founded in 1993, LOVE is a national community for young people whose lives have been affected by violence. It communicates a message of non-violence by providing support, a sense of purpose and teaching life skills to reject negative, aggressive behaviour.

LOVE youth leader Emma Bonnemaison takes her message about drugs and youth violence to kids at the organization’s summer camp.

PROFILE Emma Bonnemaison: Vancouver, B.C. LOVE Youth Leader

“I got involved after my girlfriend started talking about it,” recalls Emma Bonnemaison about her introduction to LOVE. “At the time, nothing was going too well for me and I needed something to help bring me back to reality.” Comm_p46_79FINAL.qxd 12/18/03 10:32 PM Page 52

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It was exactly what she needed. Bonnemaison took to the organization immediately and became increasingly more involved. Today, she’s one of LOVE’s 150 youth leaders who reach out to schools in their communities to talk to kids about domestic violence and drugs, with the message that violence is not the answer and there is help available.

“LOVE totally helped me to build up my self-conﬁdence when I needed it most,” she says.“Now I want to go out and help people back, because that’s what they did for me.”

Covenant House, Toronto – CIBC committed $400,000 over three years in support of the Covenant House Learning Centre that helps street youth continue with their education by working towards their high school diploma. At the centre, three certiﬁed teachers provide instruction with the support of teaching assistants, staff and volunteers. Every year, more than 100 students take advantage of these courses, with over 75 per cent going on to complete high school, and, of those, many go on to post-secondary education.

Variety Village – CIBC committed $250,000 over ﬁve years to the Heart of a Healthy Community capital campaign for the Odette Family Centre, a 64-bed residence and training centre for children and young people with disabilities. Proceeds raised through the campaign are also targeted towards the Variety Village Endowment that will fund in perpetuity ongoing world-class programs for children and young adults with special needs.

Canadian Foundation for AIDS Research (CANFAR) – As a presenting partner for the “Have a Heart” Program, CIBC donated $45,000 in 2003 as part of its three-year commitment of $135,000. “Have a Heart” is CANFAR’s national youth awareness program that encourages youth leadership skills, increases awareness of HIV/AIDS and promotes the search for a cure.

University of Waterloo – $1.3 million of CIBC’s $2 million commitment to the University of Waterloo will support undergraduate scholarships, both at the entrance and upper-year levels. $670,000 will establish a junior research chair in quantitative ﬁnance and insurance and the remaining $30,000 will fund the construction of a group study centre at Renison College.

CIBC was presented with Variety Village – CIBC President the CANFAR Chairman’s and Chief Executive Ofﬁcer Award in recognition John Hunkin was named 2003 of the bank’s ongoing Children’s Crusader of the Year in support of the charity acknowledgement of CIBC’s since 1990. commitment of $250,000 towards Variety’s Heart of a Healthy Community Campaign. Comm_p46_79FINAL.qxd 12/18/03 10:32 PM Page 53

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Street Kids International – CIBC donated $25,000 in support of programs that empower Canadian street kids to have the same personal dignity, potential and right to self-determination as their peers, and to help them cope with risk and to make intelligent choices. With CIBC’s support, the programs include tool kits to help participants develop economic independence by assisting them in ﬁnding and holding down jobs or teaching them skills to start their own businesses.

JEVI (Prévention du suicide chez les jeunes) Estrie – CIBC supported programs to help youth at risk to feel better about themselves and to improve their standard of living. Emphasizing prevention through mental development, the programs include the promotion of early warning and prevention of suicide, as well as recognition of the problem in schools to encourage young people to share their feelings and problems with friends and family.

University Health Network (UHN) – CIBC committed $1.75 million to the UHN $400 million capital campaign, which comprises the Toronto General and Western Hospital Foundation, The Princess Margaret Hospital Foundation and The Arthritis and Autoimmunity Research Centre Foundation. Of this, $250,000 will fund research into a cure for Parkinson’s disease, and $1.5 million is designated for the CIBC New Scientist Program in Arthritis and Autoimmunity Research, advancing research in juvenile arthritis.

Raise-a-Reader – CIBC contributed $15,000 in support of the second annual Raise-a-Reader Day held in 13 cities across the country on September 25th. This national campaign raised $729,000 for children’s literacy programs and resources throughout Canada.

Black Business & Professional Association – In 2003, CIBC continued its support of this organization which is dedicated to advancing the black community by delivering programs that encourage and support the pursuit of entrepreneurship, professional excellence, higher education and economic independence. CIBC’s $15,000 annual funding is aligned to the Harry Jerome Awards, named after the late Canadian track athlete, celebrating outstanding individual achievement and contribution to the community. The awards are important because they recognize the achievements and contributions of individuals in different communities and inspire others to do the same.

CIBC supported the second annual Raise-a-Reader Day to raise funds for children’s literacy programs and resources across the country. Comm_p46_79FINAL.qxd 12/18/03 10:32 PM Page 54

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PROFILE Danielle Gordon: Waterloo, Ontario Lilian Moalim-Nour: Ottawa, Ontario 2003 Harry Jerome Award winners

Community recognition is important for Danielle Gordon and Lilian Moalim-Nour, winners of the 2003 Harry Jerome Academics Awards. “It’s an affirmation of what I am doing,” says Gordon, a first-year optometry student at the University of Waterloo. “It makes me feel really good and has definitely boosted my self-confidence."

For Moalim-Nour, a ﬁrst-year biochemistry student at the University of Ottawa who came to Canada from her native Somalia, the award is another step towards her dream of becoming a doctor. “It gives me added motivation to continue with my education so that I can help people in the future,“ she says.

Nova Scotia Libraries Summer Reading Program – CIBC donated a further $5,000 in 2003 to encourage children and young people to read during the summer months. The program offers a variety of special learning activities, such as story time, craft activities, games and author readings, and has attracted approximately 14,000 youth participants.

Alberta Theatre Projects (ATP) – CIBC contributes $5,000 annually in support of ATP’s LEGACY (Lifelong Education and Growth for Artists, Community and Youth) programs that include the Teachers’ Study Guides of which CIBC is the exclusive sponsor. In 2003, guides were prepared for invited student groups, providing background information about the play, the writer and the production, as well as classroom discussion to enrich the play-going experience.

PROFILE Greg Epton, Resource Development Director: Calgary, Alberta Alberta Theatre Projects

“The Teachers’ Study Guides series is a key element in ATP’s Classroom Connections program that nurtures a deeper appreciation of contemporary theatre in young people,” says Greg Epton, Resource Development Director, Alberta Theatre Projects. “Introducing students to the experience at an early age is so important, because it really stimulates interest in the art form.”

For 2003 Harry Jerome Award winner Danielle Gordon, recognition from her community for her academic achievements is very important in boosting her self-conﬁdence. Comm_p46_79FINAL.qxd 12/18/03 10:32 PM Page 55

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The guides provide teachers with a synopsis of the play, biographical details, as well as insight into the concepts that are being presented, so that young people can get the most out of their early experiences at the theatre.

“CIBC’s partnership and support of our goal to increase awareness and appreciation of our work among young people is invaluable,” says Epton. “Without their generous contribution, we simply would not be able to deliver these programs.”

Fondation OLO – CIBC committed $5,000 to support the work of this foundation that fosters the birth of healthy babies by providing nutritional supplements, such as eggs, oranges and vitamin supplements, in conjunction with community centres in Quebec. Every year, the foundation helps more than 16,000 expectant mothers experiencing social and ﬁnancial problems feed themselves properly during the critical last 20 weeks of pregnancy.

Alpine Canada Alpin – In 2003, CIBC continued its four-year commitment to Alpine Canada Alpin, the governing body for alpine ski racing in Canada. CIBC’s partnership is linked to the Podium 2010 program, which comprises a total development system for nurturing young talent in Canadian alpine skiing. The system includes such aspects as technology, facilities, coaching and athlete identiﬁcation and retention. It is designed to put Canadian skiers back on the podium and to create the next generation of “Crazy Canucks” who will be future champions in the sport.

Through CIBC’s sponsorship, Alpine Canada Alpin team members Erik Guay, Thomas Grandi, Allison Forsyth and Julien Cousineau are beneﬁting from the Podium 2010 program that is designed to create the next generation of Olympic and World Cup contenders. Comm_p46_79FINAL.qxd 12/18/03 10:32 PM Page 56

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PROFILE Allison Forsyth, Canadian Alpine Ski Team: Calgary, Alberta Alpine Canada Alpin

“It would be great to see another ’Crazy Canuck’ era in Canadian alpine skiing,” says Allison Forsyth, a senior member of the Canadian Alpine Ski Team. “We certainly have as much heart and spirit, and Alpine Canada gives us the focus to take us to the podium in 2010.”

As the national governing body responsible for the advancement of the sport, Alpine Canada Alpin is dedicated to developing its athletes in the hope of re-establishing Canada’s dominance in the sport. “It’s a fabulous opportunity for corporations like CIBC to get involved with our young athletes,” says Forsyth, ”and it gives us the support we need to realize our hopes and dreams, and win gold for Canada.”

Discovery Centre, Halifax – With its $7,500 donation, CIBC sponsored the Hands-On Science Program that enables schools from across Nova Scotia to visit the centre, to experience a world of exhibits and adventures and learn about science in a way that is fresh, exciting and inspiring.

Community support Beyond CIBC’s commitment to Canadian youth, the bank contributed to a wide variety of national, regional and local programs during 2003 to support charities and good causes in communities across Canada.

HERE ARE MORE EXAMPLES OF HOW CIBC SUPPORTED CANADIAN COMMUNITIES DURING THE YEAR:

Frontier College – In 2003, CIBC continued its support by donating $200,000 as part of its three-year commitment to the organization’s “Great Expectations” campaign. This will help Frontier College recruit, train and deploy up to 24,000 volunteer literacy tutors to teach children, teens and adults living in poverty and isolation.

Canadian Red Cross Badger Relief Fund – Canadian Red Cross B.C. Forest Fires CIBC donated $25,000 to the Canadian Red Relief Fund – CIBC contributed Cross Badger Relief Fund to provide immediate $25,000 to the relief effort to help B.C. assistance to the residents of Badger, Interior communities affected by the Newfoundland and Labrador, who were forced devastating forest fires that occurred in to flee their homes as frigid waters of three the region. Bank branches throughout rivers flooded their banks and encased much B.C. also accepted donations to assist of the town. The funds helped them to return in the provision of long-term recovery to their homes, repair the damage and rebuild services to affected areas. what they lost. Comm_p46_79FINAL.qxd 12/18/03 10:32 PM Page 57

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Cirque du Soleil – As the presenting sponsor of Cirque du Soleil’s three-year Canadian tour, CIBC assisted the world-renowned troupe in bringing its full contingent for three performances to Montreal, Calgary and Vancouver during 2003. Through this innovative partnership, CIBC is helping Canadians to experience ﬁrst hand Cirque du Soleil’s unparalleled creativity and imagination in this unique theatrical and cultural event.

Toronto Arts and Culture – CIBC committed $4 million to four organizations dedicated to promoting a greater appreciation of culture and the arts in the City of Toronto. The funds were aligned to capital campaigns in support of the Royal Ontario Museum, the Canadian Opera Company, the Art Gallery of Ontario and the National Ballet School. The bank’s investment will enable greater access to diversity in culture, arts events and performances and will further establish Toronto as a leading cultural destination in North America.

Foundation Fighting Blindness – CIBC provided $5,000 in support of this foundation which raises funds for research directed at ﬁnding the causes, treatments and, ultimately, cures for retinitis pigmentosa, macular degeneration and related retinal diseases. Since its inception, over $11 million has been raised for research.

Harbourfront Centre – CIBC demonstrated its commitment to Canadian arts and culture by entering into a three-year partnership with the centre, located on Lake Ontario. The Toronto complex nurtures and supports educational and recreational community events and activities, while fostering contemporary artistic excellence by showcasing the best in Canadian and international talent. In recognition of CIBC’s support, the Harbourfront Centre Concert Stage has ofﬁcially been renamed the CIBC Stage.

St. Ann’s Senior Citizens Village – CIBC’s commitment of $10,000 over two years will assist this organization in Saskatoon with its capital campaign. The funding will support capital renovations and the purchase of new equipment, resulting in improved living conditions for the residents.

Hurricane Juan – In October 2003 CIBC Kenn Lalonde (right) donated $25,000 to the municipalities of and Terry Gardiner Halifax and Truro to help with the recovery (left) of CIBC present effort from the devastation caused the cheque to the by Hurricane Juan. These communities Mayor of Halifax, suffered great losses and this funding Peter Kelly. will help them to rebuild their lives. Comm_p46_79FINAL.qxd 12/18/03 10:32 PM Page 58

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Daily Bread Food Bank – CIBC committed $50,000 over three years to the $6 million Building the Future, Feeding the Hungry campaign to purchase and renovate the food bank’s 107,000 square foot premises, to enable it to feed more people more efﬁciently. The Daily Bread Food Bank is one of Canada’s leading agencies dedicated to eliminating hunger.

Gilda’s Club Greater Toronto – CIBC committed its support as the presenting sponsor of “It’s Always Something,” the club’s annual variety show and ﬂagship fundraising event. Gilda’s Club is a free, non-residential and social support community for men, women and children living with cancer. Gilda’s Club is a place for people to learn how to live with cancer and to meet the challenges and opportunities of everyday life.

Employee as Ambassador CIBC encourages personal volunteerism among its employees and supports their commitment to local community activities through the Employee as Ambassador Program. Under this program, the bank donates up to $1,000 per employee to charitable and not-for-proﬁt community organizations where employees volunteer. In 2003, CIBC donated over $300,000 to local community organizations on behalf of its employees.

CIBC’S EMPLOYEE AMBASSADORS ACROSS CANADA INCLUDE PEOPLE LIKE:

PROFILE Heather Hilton, Personal Banking: Nanaimo, B.C. Nanaimo Marine Rescue Society

Heather Hilton makes a difference in her Nanaimo community. As volunteer members of the Nanaimo Marine Rescue Society, a unit of the Canadian Coast Guard Auxiliary, she and her husband play an important role in promoting marine safety in a number of different ways. This includes being on call for one 24-hour period each week and performing other duties to keep the unit running smoothly.

“My key role is to provide support for the society by fundraising, increasing public awareness and attracting volunteers,” says Hilton. Through the Employee as Ambassador Program, CIBC has supported Hilton’s efforts.

CIBC employee Heather Hilton (left) plays an important part in her community as a volunteer member of the Nanaimo Marine Rescue Society. Comm_p46_79FINAL.qxd 12/18/03 10:32 PM Page 59

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Helen Foley, Branch Manager: Labrador City, Newfoundland and Labrador Kids Eat Smart Foundation

Growing children need nutritious food to be healthy and to develop properly, but too many students come to school hungry on a regular basis. Helen is doing her part to change all that. Working with the Kids Eat Smart Foundation’s local chapter in Labrador City, she is involved in fundraising efforts to help ensure there are no hungry schoolchildren in her community and that every child is given the same opportunity to learn.

“There’s no need for any child in primary school to go hungry,” Helen says. “I’m absolutely delighted that CIBC was able to make a contribution.”

Kathy Coroluick, Client Service Manager: Weyburn, Saskatchewan Quota International of Weyburn

Kathy has always been very involved in her community. She is a member and former executive of Quota International of Weyburn, a service organization that provides fellowships to deaf students and arranges community speech and hearing screening clinics for children. Through the Employee as Ambassador Program, she was able to support Quota’s “Women of the Year” program that recognizes outstanding women leaders in the community. Funds raised from the event supported a toy lending library for children and a violence intervention program, helping to equip a women’s shelter with basic necessities and supplies.

“I think it’s a tremendous program,” says Kathy. “It touches people where they live and it helps us to support our communities.”

Employee initiatives CIBC proudly supports the volunteer efforts of its employees, who raise millions of dollars every year for their chosen causes. The biggest and most widely known of these is the CIBC Run for the Cure. This year’s event was the largest in its history, raising over $17 million for the Canadian Breast Cancer Foundation to support its drive to ﬁnd a cure for this disease.

“Breast cancer is a major health problem for women. I am pleased to acknowledge CIBC’s leadership in the ﬁght against breast cancer in Canada. Through its sponsorship of the CIBC Run for the Cure, an unprecedented $17 million was raised for breast cancer research. CIBC and its employees are to be congratulated for their efforts in making this event such a success.” – Judi Longﬁeld, MP Whitby-Ajax, Ontario Comm_p46_79FINAL.qxd 12/18/03 10:32 PM Page 60

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Another ﬂagship employee initiative is the CIBC World Markets Children’s Miracle Day, which was launched in 1984. For one day each December, CIBC World Markets sales and trading staff and CIBC Wood Gundy investment advisors donate their fees and commissions to support local children’s charities.

Further, CIBC employees volunteer countless hours of their time to organizations like the B.C.’s Children’s Hospital and the United Way to raise funds in communities across Canada.

CIBC Run for the Cure The CIBC Run for the Cure is the bank’s ﬂagship fundraising activity and the largest single annual event in Canada dedicated to raising money to eradicate breast cancer. More than any other, CIBC employees have adopted this cause as their own.

The 12th annual CIBC Run for the Cure was held across Canada on October 5, 2003 and for the seventh consecutive year, CIBC was the title sponsor. The event was the largest ever, breaking last year’s record for number of participants and for the amount of funds raised. It involved more than 160,000 runners and walkers in 39 communities nationwide, including over 12,500 CIBC employees, their families and friends who all came together for a great cause.

PROFILE David McLeod, General Manager, Retail Risk Management: Halifax, Nova Scotia CIBC Run for the Cure

The year was 1995 and it was the ﬁrst time CIBC employee David McLeod had ever participated in the Run for the Cure. It was destined not to be his last. In the next seven years, he whole- heartedly embraced the cause, helping to establish the Canadian Breast Cancer Foundation’s Atlantic chapter and serving as chair on both its national and regional boards.

“This cause touches so many people,” says McLeod. “Everybody has a story to tell about breast cancer. It just brings them together,” he says. When the event came to the region, the community supported it and was quickly joined by CIBC employees throughout Atlantic Canada who took it on board, lock, stock and barrel.

CIBC employee David McLeod of Halifax has played a key role in the Canadian Breast Cancer Foundation’s Atlantic chapter. Comm_p46_79FINAL.qxd 12/18/03 10:32 PM Page 61

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The CIBC Run for the Cure is a major event on the Halifax calendar and everyone looks forward to it. “Regrettably, the event was cancelled this year due to the devastating effects of Hurricane Juan, but this means that we will approach 2004 with even greater vitality and determination,” says McLeod.

CIBC employees play a leading role in co-coordinating the event as Canadian Breast Cancer Foundation run directors. Thirteen of the 39 run sites were led by employees in 2003 and more than 1,600 CIBC employees volunteered to help organize local events.

“Our volunteer network is quite unique and integral to the success of the event,” says Jay Hooper, National Director, Funds Development for the Canadian Breast Cancer Foundation. “CIBC’s volunteer leadership has been truly inspirational, and it’s the reason we’ve been able to generate the great public interest that the event continues to experience.”

E-mail for the Cure – E-mail money transfers were introduced in 2003 as a convenient and secure new way for Canadians to donate online to the CIBC Run for the Cure. The bank marked the launch of this initiative with a commitment to donate an additional $1.50 to the Canadian Breast Cancer Foundation for every donation sent by e-mail money transfer by a CIBC employee or customer.

CIBC World Markets Children’s Miracle Day Every year, on the ﬁrst Wednesday in December, CIBC World Markets sales and trading staff and CIBC Wood Gundy investment advisors in Canada, the U.S., Europe and Asia donate their fees and commissions to children’s charities.

On Miracle Day 2002, held on December 4th , CIBC raised $29,159,128 globally, including $3,062,182 in Canada. Since the late Timothy Miller, a CIBC Wood Gundy broker, came up with the idea in 1984, Children’s Miracle Day has raised over $110 million for children’s charities around the world.

These funds are directed back to the communities where they were raised. They provide grassroots help for more than 350 Canadian local and charitable organizations dedicated to improving the quality of life for children by investing in their education, health and well-being.

2003 Spirit of Vancouver Corporation Society of Fundraising Executives’ Award – CIBC was acknowledged by the Atlantic Philanthropy Award – CIBC Vancouver Board of Trade for its outstanding Atlantic Region was honoured with the efforts in making the CIBC Run for the Cure a Atlantic 2003 Outstanding Corporate huge success in the region. Over 10,500 peo- Award in recognition of the remarkable ple participated in the October 2002 success of the CIBC Run for the Cure in Vancouver event, raising $1 million for the the region since the bank became the ﬁght against breast cancer. title sponsor of the event in 1997. Comm_p46_79FINAL.qxd 12/18/03 10:32 PM Page 62

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A Children’s Miracle Day tradition since 1995, three outstanding individuals are honoured every year by participating CIBC World Markets and CIBC Wood Gundy ofﬁces across Canada.The CIBC World Markets Miracle Maker Awards for 2003 were presented to hockey icons Don Cherry and Ron MacLean, and community leader Richard Gosling for their extraordinary efforts on behalf of children and children’s charities.

HERE ARE A FEW EXAMPLES OF THE TYPES OF PROGRAMS THAT THE CIBC WORLD MARKETS CHILDREN’S MIRACLE FOUNDATION SUPPORTS:

Education – In today’s information age, children increasingly need to develop new skills to succeed and experience continuous learning throughout their lifetime.

The Concerned Kids – The Concerned Kids educates children, young people and adults with develop- mental disabilities about social concerns, such as HIV/AIDS, substance abuse, and gang violence through the medium of interactive puppetry. Each program provides a stimulating and unique way of discussing these topics by reaching the audiences through the puppets. Started in 1989, the organization’s performances have reached over 400,000 young people with their messages.

Montreal Oral School for the Deaf – Working in partnership with children, families and community organizations, the Montreal Oral School for the Deaf educates deaf/hearing-impaired individuals from infancy to young adulthood, to help them become integrated into society. The school focuses on developing spoken language by listening and talking, with an emphasis on the importance of stimulating hearing and speech in the child’s early years.

Health – CIBC World Markets supports charitable programs and organizations whose goals are to improve the health of children through basic health care, nutrition and treatment of illness.

Rehabilitation Centre for Children Foundation – The foundation helps Manitoba’s children with disabilities live with greater independence in their daily lives. With the support of the CIBC World Markets Children’s Miracle Foundation, the Winnipeg-based centre treats a wide range of childhood illnesses and conditions by providing clinical and therapeutic support to over 7,000 families each year from Manitoba, Nunavut, Northwestern Ontario and parts of Saskatchewan.

In December 2002, the CIBC World Markets Children’s Miracle Foundation raised more than $29 million globally, including over $3 million in Canada, for children’s charities. Comm_p46_79FINAL.qxd 12/18/03 10:32 PM Page 63

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Well-being – Children need to be valued and given the opportunity to experience joy, forge friend- ships and receive emotional support. The CIBC World Markets Children’s Miracle Foundation funds programs and organizations that embody this philosophy.

YMCA-YWCA, St. John’s Newfoundland and Labrador – The YMCA-YWCA values the role that self- reliant children and healthy families can play in building strong communities, and encourages child and youth development through its child and family programs that provide a supportive family environment for nurturing the growth of each child. By participating in YMCA-YWCA programs, children build self-conﬁdence, learn healthy behaviour, develop strong values, such as responsibility, respect, honesty and caring, and grow in spirit, mind and body.

United Way and more CIBC is one of the largest corporate contributors to the United Way in Canada, and hundreds of CIBC employees dedicate their time and energy to this cause. Last year, staff, pensioners and the CIBC group of companies together raised more than $6.5 million nationally for 126 United Way agencies across the country. In addition, CIBC provided in-kind support of over $300,000.

In the Greater Toronto Area (GTA), CIBC’s corporate gift of $1.35 million was supplemented by the generosity of individual employees. CIBC donors in the GTA contributed a record-breaking $4.5 million, an increase of seven per cent over the previous year. And for the second consecutive year, CIBC won the United Way Spirit Award for its Leadership Giving campaign, which raised $2.2 million.

B.C.’s Children’s Hospital (BCCH) – BCCH has a special signiﬁcance for employees. Since 1995, they have been steadfast supporters of the hospital, organizing the annual province-wide fundraising campaign with initiatives from car washes, bake and book sales, coffee parties, rafﬂes and chocolates to generate funds. To date, CIBC staff from across the region have raised over $2 million for the hospital that is the province’s major treatment, teaching and research facility for child health, caring for patients from infants up to age 16.

In 2003, CIBC and its employees contributed to United Way agencies across the country through fundraising campaigns and in-kind support. Comm_p46_79FINAL.qxd 12/18/03 10:32 PM Page 64

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In 2003, CIBC employees were recognized at the platinum level for their contribution to BCCH’s capital campaign for the new ambulatory care building. CIBC also supported the work of the hospital with a corporate commitment of $750,000 to the capital campaign.

PROFILE Wendy Slavin, Senior Vice-President, Branch and Small Business Banking, B.C. and Northern Territories: Vancouver, B.C. B.C.’s Children’s Hospital

Not so much a campaign, more a way of life. That’s what the annual fundraising drive for BCCH means to CIBC’s west coast employees. Since 1995, they have raised over $2 million for the hospital. “It’s an easy cause for people to get behind,” says Wendy Slavin, Senior Vice- President, Branch and Small Business Banking, B.C. and Northern Territories. “The hospital is very near and dear to the hearts of our employees.”

B.C.’s Children’s Hospital is special because it has touched every community in the province. CIBC’s involvement with BCCH is also strongly encouraged by the bank’s customers because they too identify with the cause. As chair of the 2003 annual Children’s Miracle Network Telethon that wraps up the campaign, Slavin knows ﬁrst hand how important the hospital is to the region. The telethon raised a record $7.5 million for the cause.

“BCCH supports every single community in the province,” says Slavin. “It’s hard to identify one single cause that unites us to the extent that this one does.”

Wendy Slavin of CIBC was chair of the 2003 Children’s Miracle Network Telethon. Since 1995, employees across the region have raised over $2 million for this annual campaign for B.C.’s Children’s Hospital. Comm_p46_79FINAL.qxd 12/18/03 10:32 PM Page 65

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Employer of choice

CIBC recognizes that the quality and calibre of employees are critical factors to our success. By creating a supportive work environment to address the diverse needs of our employees in managing work-life balance, the bank strives to be the employer of choice in Canada’s ﬁnancial services industry.

IN 2003, CIBC PURSUED A NUMBER OF INITIATIVES IN SUPPORT OF THIS OBJECTIVE:

Employment equity and diversity CIBC is working to create a fair and inclusive workforce by building employee teams that reﬂect the communities where we do business, and where individual members make a difference. As one of Canada’s largest employers, CIBC is committed to the principles of employment equity and diversity and to achieving goals for the representation of women, visible minorities, Aboriginal Peoples, and persons with disabilities.

The following are the CIBC representation rates and goals based on national labour market availability rates provided by Statistics Canada for each of the designated groups in senior management positions:

Senior management representation rates and goals Employment equity designated groups

% Rate Goal Women 32.1 19.4 Visible minorities 4.1 8.4 Persons with disabilities 2.1 4.3 Aboriginal Peoples 0 0.3

CIBC is proud of its record for the employment of women in senior management positions, and remains ﬁrmly committed to the principle of diversity and to initiatives that will enhance the representation of all the designated groups within its workforce.

In 2003, CIBC adopted a new, three-year employment equity strategy with a renewed focus on employment outreach and recruitment of persons with disabilities and Aboriginal Peoples, as well as training and communication initiatives to ensure that all employees understand the bank’s commitment to and expectations for a diverse workforce and a barrier-free, welcoming workplace for all employees. Comm_p46_79FINAL.qxd 12/18/03 10:32 PM Page 66

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At the Board of Directors level, women hold three of the 20 Director positions. To achieve a higher level of representation, CIBC has a formal nomination process underway, led by the Board Chairman and the Corporate Governance Committee, and assisted by an outside consultant, to identify qualiﬁed women candidates to serve as directors on the Board.

For the 10th consecutive year, CIBC celebrated diversity month in June, with employees organizing over 150 different events and activities across the country. Among the key events in 2003 were National Aboriginal Day, held at Commerce Court in Toronto; a special book reading for children on disability issues at the CIBC Children’s Centre and the bank’s participation in Toronto’s 2003 Gay Pride Parade.

CIBC’s commitment to the principles of employment equity and diversity extends to assisting students with disabilities in their post-secondary education. In the second year of its three-year program, the bank presented 14 CIBC Access Awards for Students with Disabilities – eight students from Ryerson University, four from York University’s Schulich School of Business and two from the Rotman School of Business at the University of Toronto. The awards were established in 2001 in partnership with the Disabled Persons Employment Equity Human Rights Group and are available to post-secondary students with disabilities to help fund their education.

In addition, the bank has global and regional policies on employment equity and diversity, workplace accommodation and harassment in the workplace, to provide employees with a productive environment where they are treated with respect and dignity. Also, CIBC’s Code of Conduct guarantees every employee the right to be respected and to receive fair and equitable treatment, and prohibits discrimi- nation against any stakeholder on any ground protected by human or civil rights law and harassment on the basis of any legally protected category. The code also prohibits violence in the workplace, including demeaning comments that create a hostile or offensive work environment.

CIBC Children’s Centre – CIBC supports employees facing additional stress when their regular childcare arrangements break down. The CIBC Children’s Centre, an innovative backup childcare facility exclu- sively for employees, completed its ﬁrst year of operation at the end of 2003. With over 800 parent clients, the centre provided backup care equivalent to over 2,500 working days for the bank, offering a safe, reliable solution for employees who came to work knowing their children were well cared for.

2003 National Champion of Mental Health, Corporate – In October, CIBC was acknowledged as the 2003 National Champion of Mental Health in the corporate category, the ﬁrst-ever national award presented by the Canadian Alliance on Mental Illness and Mental Health. The bank was recognized for its active support of the issue of mental health and its programs for employee health and well-being. Comm_p46_79FINAL.qxd 12/18/03 10:32 PM Page 67

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PROFILE Joyce Phillips, Executive Vice-President, Human Resources: Toronto, Ontario CIBC Children’s Centre

“From an HR standpoint, we’re trying to tackle a number of areas to address the different needs of our employees,” says Joyce Phillips, Executive Vice-President, Human Resources. The CIBC Children’s Centre is one creative solution to the work-life balance issue that’s getting rave reviews from employees.

CIBC’s Human Resources Executive Vice-President Joyce Phillips visits the CIBC Children’s Centre in Toronto.

Launched a year ago as a backup childcare facility, the centre is a clear winner. It is a convenient alternative that works for employee parents who can focus on the job instead of worrying about last-minute childcare arrangements for their children. Knowing that their child is well cared for and safe lets them come to work, be productive and relieves the extra stress on co-workers who would have had to meet the shortfall had this solution not been available. Comm_p46_79FINAL.qxd 12/18/03 10:32 PM Page 68

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A ﬁrst for Canada, the pilot centre is helping CIBC to be a pioneer in human resource management and in the creation of a rewarding, productive workplace. “Life is complex and the workplace can be stressful,” says Phillips. “The centre is one innovative way that CIBC can create a quality environment for its employees, while investing in its own future.”

Wellness Checkpoint – CIBC’s global health website that supports the health and well-being of employees completed its ﬁrst year of operation in 2003. The site provides assessment tools, information and services that promote health and well-being, encouraging all employees to become more proactive and to focus on the prevention of poor health, rather than having to manage the conse- quences of it.

These include a wellness assessment, a detailed survey providing a general assessment of health and wellness; a personalized proﬁle that provides a realistic assessment of potential risk factors, such as stress, environment, blood pressure, diet, exercise and cholesterol levels; taking care/health tips, with a supporting library and links to many health-related sites, as well as other resources for more information; and, information about employee assistance programs, offering employees personal and online counselling services in a wide variety of areas. The site also provides data to help identify key areas for improvement with respect to future programs for employee health and well-being.

Return to Work Program – In 2003, CIBC continued its innovative program to manage employee disability leaves and facilitate the return to work based on heightened communication between the employee and manager. The approach, which focuses on the employee’s abilities and the bank’s efforts to accommodate their individual needs, has resulted in an earlier return to work for disabled employees.

Employee career training and development – In 2003, CIBC invested over $50 million in Canada on employee training. The bank encourages employees to take charge of their own careers by providing access to training and development through a variety of delivery channels. CIBC’s Knowledge Network offers over 250 self-study or online training courses through its website. There is also an extensive selection of electronic magazines, journals and books dealing with CIBC competencies.

CIBC encourages its employees to take advantage of training resources, such as CIBC’s Knowledge Network. Comm_p46_79FINAL.qxd 12/18/03 10:32 PM Page 69

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In addition, there is a variety of line of business-speciﬁc training sites, such as the Financial Learning Institute, that support retail employees with a variety of training and performance support materials. Also, CIBC launched a new learning management system in partnership with CIBC Retail Markets. This will eventually be rolled out to other businesses, providing additional training directly through the desktop.

Performance Management and Measurement (PMM) – Employees who understand their managers’ expectations and how they are measured experience less stress in the workplace. CIBC’s PMM program supports employees by articulating their role and purpose in the organization, and how their performance is to be measured. PMM involves employees directly in the bank’s business by fostering a greater understanding of how their work and achievements affect business results.

Using a balanced scorecard approach, the system goes beyond ﬁnancial measures to measure performance. It incorporates other critical components, such as customer relationships, operational efﬁ- ciency, strategic priorities and key competencies, to provide a more balanced approach to performance management.

Health and safety – CIBC is committed to providing healthy and safe workplaces and to creating awareness for the prevention of accidents. The bank has global and regional health and safety policies to provide healthy and safe workplaces for all CIBC employees and non-employees, and to com- ply with all legislation and regulations for the prevention of workplace accidents. CIBC’s Policy Health and Safety Committee, a joint management/employee committee, participates in the development and monitoring of health and safety policies and programs, assists workplace health and safety committees, and monitors data on workplace accidents and injuries.

CIBC has a short and long-term health and safety strategy to ensure regulatory compliance. As part of this strategy, CIBC launched a new health and safety website to provide information and training to CIBC’s managers and supervisors in Canada. The site addresses their key responsibilities for supporting legislated health and safety standards and includes a manager’s checklist for ensuring workplace health and safety, health and safety policies, the accident reporting system, ﬁrst-aid information, and online training.

Severe Acute Respiratory Syndrome (SARS) – CIBC instituted a series of prudent precautionary measures to protect its employees and customers from the SARS outbreak that occurred, primarily in the Greater Toronto Area, in early 2003. The bank created a series of special employee teams, annexed in separate and secure locations, to ensure continuity of vital operations and to protect the health and well-being of employees. CIBC also contributed $200,000 to an effort to attract visitors back to the Greater Toronto Area after the outbreak abated. Comm_p46_79FINAL.qxd 12/18/03 10:32 PM Page 70

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Employment in Canada CIBC is one of Canada’s largest employers. In 2003, the bank and its listed afﬁliates had more than 36,000 full-time and part-time employees nationwide.

Employment at CIBC offers a wide range of career opportunities in everything from technology and e-commerce to investment banking and head ofﬁce functions. There are thousands of positions in retail branch banking, wealth management and in the bank’s network of telephone banking centres.

In 2003, the CIBC group of companies paid more than $2.2 billion in salaries and beneﬁts to its Canadian workforce.

In addition, the bank indirectly supported thousands of other jobs in many sectors, from janitorial services to high-tech consultants, through the money invested in outside goods and services. The total for 2003 was approximately $2.8 billion worldwide, with almost $2.2 billion spent in Canada.

Full-time and part-time employees – as at October 31, 2003 CIBC and its listed afﬁliates

Full-time Part-time Province employees employees Alberta 1,818 865 British Columbia 2,812 1,120 Manitoba 527 316 New Brunswick 533 139 Newfoundland and Labrador 188 78 Northwest Territories 67 8 Nova Scotia 886 199 Nunavut 1 – Ontario 18,852 3,162 Prince Edward Island 74 51 Quebec 2,637 779 Saskatchewan 734 380 Yukon 38 8 Total 29,167 7,105 Comm_p46_79FINAL.qxd 12/18/03 10:32 PM Page 71

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Taxes in Canada – 2003 In ﬁscal 2003, the CIBC group of companies’ tax expense to all levels of government in Canada exceeded $1.9 billion. This total consisted of more than $1.4 billion in income taxes, over $125 million in capital taxes and in excess of $400 million in payroll taxes (employer portion), business taxes, property taxes, GST and sales taxes.

Taxes – ﬁscal 2003 CIBC group of companies

$ thousands Income taxes Capital taxes Federal Government $ 999,093 $ –

Provincial and Territorial Governments Alberta 32,634 – British Columbia 44,053 27,860 Manitoba 8,370 6,261 New Brunswick 478 – Newfoundland and Labrador 3,337 2,553 Northwest Territories 2,381 2,395 Nova Scotia 7,250 4,974 Nunavut 222 – Ontario 277,716 64,084 Prince Edward Island 1,158 652 Quebec 35,579 9,696 Saskatchewan 7,412 7,301 Yukon 304 – Total $1,419,987 $ 125,776 Comm_p46_79FINAL.qxd 12/18/03 10:32 PM Page 72

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Examples of organizations supported by CIBC

Alberta • Fort McLeod Historical • University of Alberta • Alberta Children’s Hospital Association • Vermilion Association for Foundation • Friends of Fort Victoria Historical Persons with Disabilities • Alberta Foundation for Diabetes Society • Willow Creek Wranglers Light Research • Girl Guides of Canada Horse 4-H Club • Alberta Shock Trauma Air • Grant MacEwan Community • Women in Motion Society of Rescue Service Foundation College Foundation Alberta • Alberta Sports and Recreation • Habitat for Humanity • The Woods Home Foundation for the Blind • Hospice Calgary Foundation • Youth Canada Association • Alberta Theatre Projects Society • Huntington Society of Canada • Art Gallery of Calgary Society • Integrative Health Institute British Columbia • Battle River Victim Assistance • Junior Achievement • Allan Brooks Nature Centre Society • Juvenile Diabetes Research Society • Beef Relief – Bennett Jones Foundation • ALS Society of BC in Trust • Kids Cancer Care Foundation of • BC 4-H Provincial Council • Big Brothers & Big Sisters Alberta • BC Alpine Ski Association Association of Medicine Hat & • Kids Foundation District • BC’s Children’s Hospital • Kids on Track Association of Foundation • Calgary Drop-In Centre Society Edmonton • BC Northern Games • The Calgary Foundation • Lakeland College • BC Senior’s Games • Calgary Immigrant Educational • Mannville Library Board Society • BC SPCA Sunshine Coast • Medicine Hat Family YMCA • Calgary International Children’s • BC Special Olympics Festival • Missing Children Society of • BC Women’s Hospital Auxiliary & Canada • Canadian Girls Rodeo Health Centre Association • Mount Royal College • Bulkley Valley Foundation • Canmore & Area Health Care • Nanton Agriculture Society • Burnaby Hospital Foundation Foundation • Northern Alberta Institute of • Burns Lake & District Health • Challenger Park Society Technology Care Auxiliary • Child & Youth Friendly Calgary • Northern Alberta International • Cameron Seniors Society Children’s Festival • Children’s Hospital Aid Society – • Campbell River Dragon Boat Alberta • Operation Red Nose – Society Edmonton • City of Fort Saskatchewan – • Canadian Cancer Society • Paddle Prairie Metis Settlement Dow Centennial Centre • Canadian Red Cross – BC Forest • Compassion House Foundation • Pincher Creek & District Fire Relief Fund Agricultural Society • D.A.R.E. (Drug Abuse Resistance • Canucks for Kids Fund • Quest Theatre Education Program) • Capilano College Foundation • Red Deer College • Delia & District Agricultural • Children’s Arts Umbrella Society • Rotary Clubs Association • Disabled Sailing Association of • Salvation Army – Edmonton • Chimo Crisis Centre Alberta • Sorrentinos Compassion House • Chinese Cultural Centre • Dugald Community Club • Southern Alberta Institute of • City of Fernie – Fernie Trail • Edmonton Space and Technology (SAIT) Committee Science Centre • Southern Alberta Pediatric • City of Prince Rupert Skate • Edmonton Symphony Orchestra Hostel Society Board Park • Fairview College Foundation • St. Albert Stop Abuse in Families • Coast Mental Health Foundation Society • Foothills Hospital Foundation – • Community Foundation of the Calgary Health Trust • Stollery Children’s Hospital South Okanagan Foundation • Foothills Special Needs • Community Policing Access Association for Parents and • Sylvan Lake Future Foundation Centre Siblings • Toy Lending Library of Vermilion • Comox Nautical Days • Foothills Youth Foundation • United Way agencies • Covenant House Vancouver Comm_p46_79FINAL.qxd 12/18/03 10:32 PM Page 73

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• Cypress Ski Club • Royal Canadian Army Cadets • CancerCare Manitoba • Delta Association for Child • Royal Canadian Legion Ladies Foundation Inc. Development Auxiliary • Childcare – Family Access • Evergreen Foundation • S.S. Sicamous Restoration Society Network • Fraser Burrard Community • S.U.C.C.E.S.S. Foundation • Children’s Hospital Foundation of Manitoba Justice Society • Salvation Army • Dauphin Agricultural Society • Fraser River Discovery Centre • Shad International Society • Dauphin Outdoor Recreational • South Fraser Child Development Facility • Frederick Ozanam Centre Centre • Delta Waterfowl Foundation • Greater Vancouver Crime • St. Paul’s Hospital Foundation Stoppers Association • Glenlee Community Centre • Surrey Chamber of Commerce • Greater Victoria Hospital • Good Neighbours Senior Centre Inc. • United Way agencies Foundation • Grace General Hospital – Winnipeg • University College of the • Green Thumb Theatre Company Cariboo • Great Plains Interpretive Centre • Haven Society • Vancouver 2010 Bid Corporation • Junior Achievement of Manitoba • Hay River Community Health • Vancouver Cathay Lions Club • Ka Ni Kanichichk Inc. Board Foundation • Vancouver Chinatown B.I.A. • Manitoba Army Cadet League • Heart & Stroke Foundation Society • Manitoba Children’s Museum • Interior Health Authority • Vancouver Native Housing • Manitoba Theatre Centre • Johnstone Strait Killer Whale Society • Neepawa Theatre Centre Interpretive Centre Society • Vancouver Opera Association • New Iceland Heritage Museum • Junior Achievement of British • Vancouver Sweet Basil Jazz Columbia • Pembina Wellness Complex • Vernon & District Hospice • Kamloops Community YMCA – • Red River College Society YWCA • Rotary Club of Neepawa • Victoria Symphony Society • Lady Minto Hospital Foundation • Royal Winnipeg Ballet • Villa Cathay Care Home • Land Conservancy of BC • Serving Seniors Inc. • Volunteer Vancouver • Lester B. Pearson College of • Steinbach Chamber of the Pacific • WISH – Women’s Information Commerce Safe House • Louis Brier Home & Hospital • Town of Gimli Community • YMCA-YWCA of Central • Malaspina University-College Health Centre Okanagan Foundation • United Way agencies • You Are Not Alone (YANA) • Minerva Foundation • University of Manitoba • YWCA of Vancouver • Mission Association for • Urban Circle Training Centre, Inc. Community Living • Villa Rosa Manitoba • Municipality of Oak Bay – • Westman Dreams for Kids Oak Bay Recreation Centre • ALS Society of Manitoba Foundation • Nanaimo Marine Rescue Society • Art Gallery of Southwestern • Westman Prostate Cancer • North Peace Cultural Manitoba Support Group Society Centre • The Asper Centre for • Winnipeg Art Gallery Entrepreneurship • North Shore Community • Winnipeg Chinese Cultural & Foundation • Assiniboine Community College Community Centre Foundation • Pacific Assistance Dogs Society • The Women’s Centre • Pacific Rim Arts Society • Association for Community Living – Manitoba • Qualicum Beach Juvenile Curling New Brunswick • Brandon Area Community • Quesnel & District Palliative Care Foundation • Canadian Red Cross – Association Atlantic Zone • Brandon Family YMCA • Raincoast Education Society • Chaleur Regional Hospital • Brandon University • Revelstoke Aquatic Centre Foundation • Canadian National Institute for • Richmond Hospital Foundation • Chalmers Regional Hospital the Blind • Ridge Meadows Community Foundation • Canadian Paraplegic Association Arts Council • City of Moncton Seafood (Manitoba) Inc. • Rotary Clubs Festival Comm_p46_79FINAL.qxd 12/18/03 10:32 PM Page 74

74 | Community and Social Development | Public Accountability Statement 2003

New Brunswick (continued) • Memorial University of • Boys & Girls Club of Nova Scotia • Ducks Unlimited Newfoundland • Breast Health Promotion Team • Friends of the Moncton Hospital • Newfoundland & Labrador Lung of West Hants Foundation Association • Canadian Red Cross Society of • Greater Moncton Down • Newfoundland & Labrador Nova Scotia Syndrome Society Sailing Association • Centreville Parks and Recreation • Greater Moncton Strategic • Newfoundland & Labrador • Children’s Aid Society of Halifax Society for the Physically Partnership • Children’s Wish Foundation Disabled • Junior Achievement of Greater • Clyde River Sawmill & • Newfoundland Symphony Saint John Heritage Museum Youth Choir • Kings Valley Meals on Wheels • Cobequid Multi-Service • Real-Time Cancer Inc. • Miramichi Irish Festival Centre Foundation • Rotary Club of St. John’s • Mount Saint Joseph Nursing • Colchester Community Foundation Home Workshops Foundation • Royal Canadian Air Cadets • Mount Allison University • Colchester Regional Hospital • Royal Canadian Legion Branch Commerce Department • Cole Harbour Rural Heritage No. 13 • National Holstein Convention Society • South and Central Health • New Brunswick Improv Games • Communities in Bloom Foundation • Newcastle Rotary Charitable • Dalhousie University • St. Francis Foundation Trust • Dartmouth Concert Band • St. John’s Therapeutic Riding • Saint John Fire Department Association “Rainbow Riders” Inc. • Dartmouth General Hospital • Saint John Waterfront • Trinity Conception Health Board • The Discovery Centre Development Partnership • Town of Grand Falls – Windsor • Downtown Truro Partnership • St. Thomas University • Western Regional Hospital • Ducks Unlimited • Theatre New Brunswick Foundation • East Coast Music Association • United Way agencies • Fairview Villa Volunteer Auxiliary • Women’s Institution Northwest Territories • Family Resource Centre of • YMCA Fredericton • Girls Under 14 High West Hants • YMCA of Greater Moncton Performance Soccer • Halifax Regional Municipality • Hay River Community Health Hurricane Juan Relief Fund Newfoundland and Labrador Board Foundation • Hants County Exhibition • ALS Society of Newfoundland • Hay River Hockey Association • IWK Children’s Hospital and Labrador • Norman Wells Volleyball Foundation • Badger Relief Fund Association • Junior Achievement • Canadian Diabetes Association • Town of Inuvik Family Centre • LaHave River Valley Tourism • Central East Health Care Campaign Association Institutions Board • United Way of Yellowknife • Marion McLeod Headstart • Community Services Council of Program Newfoundland & Labrador Nova Scotia • Mermaid Theatre of Nova Scotia • Deharveng Jubilee Foundation • Abilities Foundation of • Mi’kmaq Cultural Heritage • Health Care Corporation of Nova Scotia Centre St. John’s • Acadia University • Multicultural Association of • Humber Literacy Council S.M.I.L.E. Program Nova Scotia • Innu Healing Foundation • ALS Society of Nova Scotia • Northside Hospital Foundation • Junior Achievement of • Apple Tree Foundation • Nova Scotia Hospital Foundation Newfoundland & Labrador • Atlantic Institute for • Nova Scotia Libraries Summer • Kids Eat Smart Foundation Market Studies (AIMS) Reading Program • Girl Guides of Canada-Labrador • Bedford Youth Development • Reach Nova Scotia West Division Association • Royal Canadian Legion • Lewisporte & Area Chamber of • Big Brothers & Big Sisters Bridgewater Branch Commerce Association of Shelburne County • Shelburne Lions Club/Safety Net • Lewisporte Public Library • Black History Month Association • Spina Biﬁda Foundation • Black Loyalist Heritage Society • Town of Lunenburg Comm_p46_79FINAL.qxd 12/18/03 10:32 PM Page 75

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• Town of Truro Hurricane Juan • Big Sister Association of Guelph • Canadian Race Relations Relief Fund • Bingham Memorial Hospital Foundation • Truro Parks and Recreation • Bloorview MacMillan Centre • Canadian Special Olympics Committee Foundation • Bluewater Summer Playhouse • United Way agencies • Canadian Spinal Research • Blyth & District Community Organization • University of King’s College – Centre Halifax • Canadian Unity Council • Boundless Adventures • Villa Saint-Joseph-du-Lac Association • Canadian Women’s Foundation Foundation • Boy Scouts of Canada • Canadian Youth Business • YMCA of Greater Foundation • Boys & Girls Club of Halifax/Dartmouth Ottawa-Carleton • Canadore College • Brantford General Hospital • CANFAR – Canadian Foundation Nunavut Foundation for AIDS Research • Iqualuit Fireﬁghters Association • Brantwood Foundation • Carleton Place & District Memorial Hospital Foundation • Kivalliq Regional Science Fair • Brock University • Carp Agricultural Society • Niqinik Nuasivik Nunavut • Brockville General Hospital Food Bank • Casey House Foundation • Bruce House • Nunavut Literacy Council • Centre for Addiction and Mental • Burlington Association for Health Foundation • World Wildlife Fund Canada Community Living • Chapleau General Hospital • Cabbagetown Festival Foundation Ontario • Camp Bucko • Charles W. Stockey Centre • Ability OnLine • Canada Safety Council • Child & Youth Friendly Ottawa • Active Lives • Canada’s Outstanding Young • Child Find Ontario • Albion & Bolton Agriculture Farmers Program • Children’s Aid Society agencies Society • Canadian 4-H Council • Children’s Health Foundation • ALDERCentre • Canadian Association for • Alexandra Marine & General Community Living • Children’s Hospital of Eastern Ontario Foundation Hospital • Canadian Abilities Foundation • Children’s Safety Village of Brant • ALS Society of Ontario • Canadian Art Foundation • Chinese Family Services of • Anselma House • Canadian Cancer Society Ontario • Apple Blossom Tyme Festival • Canadian Children’s Opera • Community Care – • Applegrove Community Chorus St. Catharines & Thorold Complex • Canadian Council on • Community Experience Initiative • Army Cadet League of Canada Rehabilitation and Work • Community Living Kincardine • Art Gallery of Hamilton • Canadian Cystic Fibrosis & District • Art Gallery of Ontario Foundation • Community Living North Halton • The Arthritis Society • Canadian Diabetes Association • Community Resource Centre of • Canadian Feed the Children • Assaulted Women’s Helpline – Goulbourn, Kanata & West AWHL • Canadian Film Centre Carleton • Autism Society of Ontario • Canadian Foundation for • Community Safety Village of • The Banting Research Physically Disabled Persons York Region Foundation • Canadian Junior Chamber • Confederation College – • Barbra Schlifer Commemorative of Commerce Thunder Bay Clinic • Canadian Mental Health • The Corporation of Massey Hall • Baycrest Centre Foundation Association and Roy Thomson Hall • Belleville General Hospital • Canadian National Institute • Covenant House – Toronto for the Blind • Bereaved Families of Ontario – • Creative Community Ventures • Canadian Paraplegic Association Durham Region • Creche Child and Family Centre • Canadian Parks and Wilderness • Best Buddies – Vrais Copains • Credit Valley Hospital Society Canada Foundation • Canadian Prader-Willi Syndrome • Big Brothers & Big Sisters of • Crime Stoppers Listowel & District Organization • Crohn’s & Colitis Foundation • Big Brothers of Sarnia Lambton of Canada Comm_p46_79FINAL.qxd 12/18/03 10:33 PM Page 76

76 | Community and Social Development | Public Accountability Statement 2003

Ontario (continued) • Hamilton Regional Cancer Care • Leukemia Research Fund of • CultureLink Foundation Canada • Cumberland Community • Hanover Medical Clinic • Listowel Memorial Hospital Resource Centre • Harmony Education Foundation Foundation • Daily Bread Food Bank • Hastings & Prince Edward • LOFT Community Services • Distress Centres of Toronto Learning Foundation • London Health Sciences Foundation • Dixon Hall • Headwaters Health Care Foundation • MADD Canada • Dorothy Ley Hospice • The Health for Guelph • Magnus Theatre • Ducks Unlimited Canada – Foundation Kingston • Markham Stouffville Hospital • Healthy Beginnings Foundation • Durham West 4-H Club • Hearing Foundation of Canada • The Markhaven Foundation • Earth Day Canada • Heart & Stroke Foundation of • McCausland Hospital • East Elgin Community Complex Canada • McMaster Children’s • Easter Seal Society • Heart Niagara Hospital/Hamilton Health • Eleanor Drury Children’s Theatre • Hellenic Home for the Aged Inc. Sciences • Elgin Manor • Hip Hip Hooray • McMaster University • Emily Stowe Shelter for Women • Holstein Clubs of Eastern • McMichael Canadian • Erin Agricultural Society Ontario Art Collection • Essex Youth Centre • Hospital for Sick Children • MCTV Children’s Christmas Wish • Eva’s Initiatives • House of Compassion of • Metro Toronto Movement for • Evergreen Foundation Toronto Literacy • Families of Children with Cancer • Humber River Regional Hospital • Mississauga International Children’s Festival • Family Services Perth-Huron • Huntington Society of Canada • Mon Sheong Foundation • The Foundation Fighting • Huntsville Hospital Foundation • Mood Disorders Association of Blindness • Ilderton Agricultural Society Ontario • Foundation of Chatham-Kent • Interval House Health Alliance • Mount Sinai Hospital Foundation • John P. Robarts Research • Multiple Sclerosis Society of • Fred Victor Centre Institute Canada • Friends of the Innisﬁl Public • Junior Achievement of Canada Library • Muscular Dystrophy Association • The Justin Eves Foundation of Canada • Frontier College • Juvenile Diabetes Research • National Aboriginal • Frontiers Foundation Inc. Foundation Achievement Foundation • Future Abilities & Creative • Kanata Youth Centre • National Ballet School Employment • The Kidney Foundation of • National Ballet of Canada • Ganaraska Region Conservation Canada Authority • National Youth Orchestra • KIDS.now – Kids Interested in of Canada • Genesis Research Foundation Developing Successfully • Niagara College Foundation • Geneva Centre for Autism • KidSport Timmins • Niagara Peninsula Children’s • George R. Gardiner Museum of • King’s College Centre Ceramic Art • Kingston General Hospital • Nipissing University • Giant Steps Auxiliary • Nishnawbe Aski Nation • Girl Guides of Canada • Kitchener-Waterloo Art Gallery Business Awards • Good Shepherd Centre – • Lake of the Woods District • Norfolk General Hospital Hamilton Hospital Foundation • Habitat for Humanity • Lakehead University • North Bay General Hospital • Hagersville Arena Expansion • Lakeridge Health Whitby Foundation Committee Foundation • North Bay Theatre Arts • Hamilton East Kiwanis Boys & • Lambton College Community Centre Girls Club • Leamington District Memorial • North Bay-Mattawa • Hamilton Health Sciences Hospital Foundation Conservation Authority Foundation • The Learning Partnership • North Grenville Accessible • Leave Out ViolencE (L.O.V.E) Transportation Comm_p46_79FINAL.qxd 12/18/03 10:33 PM Page 77

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• North Grenville Hospice • Queen’s University • St. Leonard’s Society of Canada • North Simcoe Sports & • Regent Park Community Health • St. Mary’s General Hospital Recreation Centre Centre Foundation • North York General Hospital • Rideau Hill Camp • St. Michael’s Hospital • North York Harvest Food Bank • Ronald McDonald House Foundation Community Action Resource • Ross Memorial Hospital • St. Peter’s Hospital Foundation Centre Foundation • Street Kids International – • Northumberland Health Care • Rotary Children’s Centre Toronto Centre Foundation Charitable Foundation • Sudbury Community Foundation • Notre Dame Hospital • Rotary Clubs • Sudbury Regional Hospital • Oakville Arts Council • Rouge Valley Health System Foundation • Oakville-Trafalgar Memorial • Royal Conservatory of Music • Sunnyside Children’s Foundation Hospital • Royal Ontario Museum • Tapestry New Opera Works • Ontario Association of Youth • Ryerson Polytechnic University • Thunder Bay Regional Hospital Employment Centres Foundation • The Salvation Army – Ontario • Ontario College of Art and Central Division • Thunder Bay Symphony Design Orchestra • Sault Area Hospitals Foundation • Ontario Council of Agencies • Tillsonburg Community Centre Serving Immigrants (OCASI) • Scarborough Arts Council • Timmins & District Hospital • The Ontario Lung Association • Schizophrenia Society of Canada • Toronto Association for • Schomberg Agricultural Society • Ontario March of Dimes – Community Living Strategic Employment Solutions • Schulich School of Business • Toronto Korean-Canadian Choir • Ontario Society for Crippled • Science North Foundation Children – Peterborough • Scouts Canada – • Toronto Rape Crisis Centre • Ontario Science Centre National Council • Toronto Symphony Orchestra • Operation Go Home – Ottawa • Second Harvest • Toronto Zoo Foundation • Orillia Soldiers’ Memorial • ShareLife • Touchstone Youth Centre Hospital Foundation • SKETCH • Transition to Betterness • Oshawa General Hospital • Skills Canada • Transitional and Supportive • Osteoporosis Society of Canada • Skills for Change Housing Services of York Region • Ottawa–Carleton Police Youth • Smile Theatre Company • Trent University – Peterborough Centre • Smiths Falls Community Hospital • Trenton Memorial Hospital • Ottawa Hospital Foundation – Foundation Women’s Breast Health Centre • Trillium Health Centre • South Bruce Grey Health Centre Foundation • Outreach St. George’s • Southlake Regional Health • Trinity Home Hospice • Parkdale Collegiate Institute Centre Foundation • Trinity Theatre Toronto • Parkinson Society Canada • Spina Biﬁda and Hydrocephalus • United Achievers’ Community • Parkview Home for the Aged Association of Ontario Services Inc. • Peel Children’s Centre • Sport for Kids Foundation • United Way agencies • Peterborough Regional Health • St. Bernadette’s Family Resource • University Health Network Centre Centre • University of Guelph • Pine Bay Foundation • St. Clair College Foundation • University of Waterloo • Port Hope & District Pipe Band • St. Francis Memorial Hospital • University of Ottawa • President’s Choice Children’s Foundation Heart Institute Charity • St. Joseph’s at Fleming • University of Toronto • Princess Margaret Hospital • St. Joseph’s Foundation of Foundation Thunder Bay • University of Western Ontario • ProAction – Helping Cops • St. Joseph’s Health Centre • University of Windsor Help Kids Foundation • Victoria County Children’s • Project HOPE • St. Joseph’s Lifecare Foundation Foundation • Prostate Cancer Research • St. Lawrence College • Victorian Order of Nurses – Foundation of Canada Foundation Hamilton-Wentworth Foundation • Providence Centre • St. Lawrence River Institute of Environmental Sciences Comm_p46_79FINAL.qxd 12/18/03 10:33 PM Page 78

78 | Community and Social Development | Public Accountability Statement 2003

Ontario (continued) • Prince County Hospital • Fondation de l’Hôpital Mount • Villa Charities Inc. Foundation Sinai – Québec • Vitanova Foundation • Provincial 55 Plus Games • Fondation de l’Université du Québec en Abitibi- • Voice for Hearing Impaired • Queen’s County Music Festival Témiscamingue Children • United Way of Prince Edward • Fondation de la recherche sur le • War Child Canada Island diabète juvénile • Waterloo Region Hospitals • University of Prince Edward • Fondation de Polytechnique Foundation Island • Fondation du cancer du sein de • Wellspring Cancer Support • Western Hospital Foundation Montréal Foundation • Fondation du Centre hospitalier • West Park Healthcare Centre Québec régional de la Mauricie Foundation • Accueil Notre-Dame • Fondation du Centre Normand • West Parry Sound Health Centre • Après-coup Léveillée Foundation • Armée du Salut – Montréal • Fondation du théâtre du • White Ribbon Foundation • Association québécoise de la Nouveau Monde • Willow Breast Cancer Support & ﬁbrose kystique • Fondation Famille Espoir Resource Centre • Auberges du cœur (Les) • Fondation Hôpital Charles • Winchester District Memorial • Auxiliaires de l’Hôpital général Lemoyne Hospital Foundation de Montréal (Les) • Fondation Hôpital de L’Enfant- • Windsor Public Library • Bibliothèque des jeunes de Jésus • Windsor Regional Hospital Montréal • Fondation Institut universitaire Foundation • Centraide de gériatrie de Montréal • Windsor Symphony Society • Centre interactif des sciences • Fondation Jean Duceppe • Yee Hong Community Wellness de Montréal • Fondation Jean Lapointe Foundation • Centre Léonardo da Vinci • Fondation Metropolis Blues • YMCA/YWCA of Ottawa • Chambre de commerce • Fondation OLO • YMCA of Greater Toronto • Club d’administration du • Fondation Pinocchio • YMCA of Niagara Canada / Granby • Fondation Portage • YMCA/YWCA of Guelph • Club des petits déjeuners du • Fondation québécoise des mal- • Yonge Street Mission Québec adies mentales • York Central Hospital • Club Holstein de Sherbrooke • Fondation Terry Fox – Montréal Foundation • Club Richelieu de Saint- • Fondation universitaire de • York University Hyacinthe l’Université du Québec • Youth Unlimited • Compagnie de théâtre Centaur • Fonds de recherche de l’Institut • YWCA of Canada • Dr. Clown de cardiologie de Montréal • YWCA Youth Centre • École de technologie supérieure • Garde-manger pour tous • École nationale de théâtre – • Groupe-Action Nouvelle Vie Montréal Prince Edward Island • Hôpital Douglas • Ensemble instrumental • Alberton Business Association • Hôpital général du Lakeshore Appasionata • Canadian Prader-Willi Syndrome • Hôpital général juif – Sir • Foire d’Ormstown Organization Mortimer B. Davis • Fondation canadienne du rein (La) • Communities 13 Inc. • Hôpital Jean-Talon • Fondation Charles-Bruneau • Community Inclusion Initiative • Hôpital Reine-Élizabeth de • Confederation Centre of the Arts • Fondation communautaire cana- Montréal dienne-italienne • Cornwall Cornfest • Institut de cardiologie de • Fondation de l’Hôpital Brôme- • D.A.R.E. (Drug Abuse Resistance Montréal Missisquoi-Perkins Education) programs • Institut du cancer de Montréal • Fondation de l’Hôpital de • Easter Seals Association of PEI • Institut économique de Montréal Montréal pour enfants • Eastern Kings Health Foundation • Jeune Chambre de Commerce • Fondation de l’Hopital LaSalle • A Joyful Sound de Montréal • Fondation de l’Hôpital Marie- • Jeunes Entreprises du • Jubilee Theatre Clarac Québec (Les) • PEI Canada Games Ringette Comm_p46_79FINAL.qxd 12/18/03 10:33 PM Page 79

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• Jeux olympiques spéciaux • Friends of Renal Dialysis Inc. Yukon • Jim’s Crusade Against Cancer • Hafford Local Board Trust • Canadian Breast Cancer • Joujouthèque Basse-Ville • The Health Foundation of East Foundation – BC & Yukon Chapter • LEUCAN Montérégie Central Saskatchewan Inc. • Dawson City Curling Club • Maison à petits pas (La) • Jubilee Residences Inc. • Dawson City Museum & • Maison Gilda • Junior Achievement of Northern Saskatchewan Historical Society • Mazon Food Fest • Kindersley Community Walking • United Way Society of the • McGill Debating Union Trail Committee Yukon • Mission Old Brewery • Kinsmen Foundation Inc. • Yukon Hospital Corporation • Musée d’art contemporain de • Navy League of Canada Montréal Saskatchewan Division • Musée des beaux-arts de • Northern Saskatchewan Montréal International Children’s Festival • Nation crie d’Eastmain Inc. • Opération Enfant Soleil Inc. • Palliser Campus Development • Orchestre symphonique de Foundation Québec • Parkland Place • Orchestre symphonique de Laval • Quota International of Weyburn • Orchestre symphonique de • Redvers & District Recreation Montréal Board • Paniers de nourriture B’nai Brith • Regina Symphony Orchestra • Parcours Mission • Rosthern Community Multi- • Régates internationales de Purpose Centre Valleyﬁeld • Saskatchewan Association for • Réseau HEC (Le) Community Living • Sclérodermie Québec • Saskatchewan Association of • Société Alzheimer de Montréal Rehabilitation Centres • Société d’agriculture d’Abitibi • Saskatchewan Cerebral Palsy Association • Société de l’autisme des Laurentides • Saskatchewan First Nations Summer Games 2003 • Téléthon de la Ressource • Saskatchewan Science Centre • Théâtre du Rideau Vert • Saskatchewan Special Olympics • Université Concordia Society Inc. • Université de Montréal • Saskatoon Prairieland Park • Young Entrepreneur’s Corporation Organization • Southeast College Education Foundation Saskatchewan • St. Ann’s Senior Citizens Village • 2004 Saskatchewan Summer • St. Elizabeth’s Hospital Games Foundation Inc. • Adult Learning Centre • Swift Current Big Brothers Big • Canadian Cancer Society Sisters Association • Central Urban Metis Federation • United Way agencies • CHEP – Child Hunger & • University of Saskatchewan – Education Program Western College of Veterinary • Eston River Trek Project Medicine • First Nations University of • Village of Loon Lake/Loon Lake Canada Recreation Centre • YWCA of Regina Envir_p80_96FINAL.qxd 12/18/03 10:40 PM Page 80

83 Corporate environmental policy and management program CIBC’s corporate environmental policies ensure that sound environmental conduct is integrated across the organization. 86 Credit risk management and lending Managing environmental risk is an important consideration in our lending decisions. 88 Supplier relations Environmental impact is a factor for CIBC when selecting vendors and suppliers. 90 Facility management In its ofﬁces and branches across Canada, CIBC pursues initiatives The Environment to realize efﬁciencies and limit the environmental impact of its operations. 93 Corporate contributions CIBC supports numerous national, regional and community causes dedicated to conservation and protection of the environment.

to view the online version go to www.cibc.com/pas Public Accountability Statement 2003 | The Environment | 81

At CIBC, we acknowledge our impact on the environment and society. The bank’s corporate culture embodies the concept of sustainable development, the cornerstone of environmental management philosophy.

CIBC is committed to policies and initiatives that help minimize the impact of our operations on the quality of the air, land and water in communities where we operate, and positively affect the health and well- being of our stakeholders. Environment The 82 | The Environment | Public Accountability Statement 2003

The Environment

Our commitment to sustainable development and responsible environmental management is articulated in CIBC’s corporate environmental policy. In 1991, CIBC was the ﬁrst Canadian bank to hire a full-time environmental risk manager to develop a comprehensive corporate environmental management program, and to address both loan impairment and direct liability exposures inherent in the bank’s credit business, as well as the responsible management of the environmental impact of CIBC’s activities and operations.

During 2003, CIBC made a number of advances toward achieving its goal of promoting sustainability and protecting the environment. These included: • Progress towards the adoption of the Equator Principles, a voluntary set of guidelines for the assessment of environmental and social risks associated with the ﬁnancing of development projects with a capital cost of US$50 million or more. The principles are based on policies and guidelines of the World Bank and the environmental and social screening criteria developed by its private sector investment arm, the International Finance Corporation. • Recognition of CIBC’s sustainability performance by a number of external investment research agencies, as well as numerous mutual funds. Most notable are the renewal of the Dow Jones Sustainability World Index (DJSI World) as well as the FTSE4Good Index. DJSI World consists of more than 300 companies, representing the top 10% of leading sustainability-driven companies in 64 industry groups in 33 countries; the FTSE4Good Index measures the performance of companies that meet globally recognized corporate responsibility standards, and facilitates investment in those companies. • Purchase of OPG EVERGREEN™ Energy Green Power drawn from a renewable energy pool generated from renewable resources, such as wind, low-impact hydroelectric, biomass and solar power, from Ontario Power Generation. Over the next year, CIBC will buy 2,000 megawatt hours of Green Power for use at its Toronto ofﬁces. • Current chair of the Environmental Issues Specialists Group of the Canadian Bankers Association. The group provides feedback on proposed new and revised environmental statutes that may affect the business activities of the Canadian banks and their clients. This includes information on issues

CIBC’s commitment to the environment has been recognized by inclusion in sustainability indices such as the Dow Jones Sustainability World Index and FTSE4Good Index. Envir_p80_96FINAL.qxd 12/18/03 10:40 PM Page 83

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such as Ontario’s recent Brownfields legislation, revisions to Alberta’s Environmental Protection and Enhancement Act, and proposed changes to the Canadian Environmental Protection Act regarding the management of underground storage tanks. • Membership in the Environmental Bankers Association, a U.S.-based forum for disseminating information of interest to the North American financial services industry with respect to transactional environmental due diligence, risk management and sustainable development affecting lending and trust activities. • Longstanding signatory to the United Nations Environmental Program (UNEP) Statement by Banks on the Environment and Sustainable Development, and the International Chamber of Commerce Business Charter for Sustainable Development. The bank continues to be a member of the UNEP Finance Initiatives (FI), a global partnership between UNEP, the Financial Institutions Initiative and the Insurance Industry Initiative that has 284 member institutions worldwide. CIBC serves on the UNEP FI North American Task Force that supports expansion of sustainable financial practices in North America. • Launch of CIBC’s external environmental website as a component of “CIBC in Your Community,” at www.cibc.com.

Corporate environmental policy and management program CIBC recognizes that responsible environmental stewardship requires that risk management be built into our internal operations and that its signiﬁcance be fully understood and appreciated by employees. CIBC’s Corporate Environmental Management Program implements the bank’s corporate environmental policies into daily operations, so that sound environmental conduct is routine procedure across the organization.

CIBC hired a full-time environmental risk manager in 1991 to begin the development of an integrated, corporate-wide environmental management program. Components include risk management to address environmental risks inherent in CIBC’s lending and investment activities. Further, initiatives and due diligence associated with supplier relations and procurement and facilities management put environmentally responsible practices in place to limit the impact on the community.

CIBC is a longstanding signatory to UNEP and is a member of the Finance Initiatives partnership. Envir_p80_96FINAL.qxd 12/18/03 10:40 PM Page 84

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CIBC and its employees also support a wide variety of environmental causes and organizations that advocate and promote sustainable development and sound environmental stewardship in local communities across Canada. Through CIBC’s Employee as Ambassador Program, the bank encourages employees who volunteer their time and effort to help support worthy causes, including environmental initiatives.

Policies At CIBC, we acknowledge our role in building a sustainable economy to create a healthy living environment for our employees, customers and the communities that we serve. The bank’s environmental policies promote compliance with applicable laws and regulations, foster good business practices and uphold our environmental commitments. Our policies also apply to the bank’s operations as they affect the environment, including environmental due diligence in CIBC’s credit and investment risk management activities.

CIBC enshrined its commitment to the principles of sustainable development and environmental protection in its Corporate Environmental Policy, which was approved by the Board of Directors in 1993. The corporate policy afﬁrms the bank’s commitment to responsible conduct in all of its activities to protect and conserve the environment; to safeguard the interests of the corporation, its customers, employees and shareholders from unacceptable levels of environmental risk; and to support the principles of sustainable development.

The corporate policy also establishes an environmental risk management review component, including environmental site assessments in credit and investment review processes across the CIBC group of companies. As well, the policy is underscored by CIBC’s Environmental Credit and Investment Risk Management Policy, which mandates credit and investment-related environmental due diligence and establishes guidelines for developing business-speciﬁc policies and procedures.

CIBC’s guiding principles articulate the bank’s commitment to the environment and sustainable development with guidelines for everyday activities that embody the intent of these policies. They reﬂect our organization’s support of the environment in communications, community values, compliance, continuous improvement, credit and risk management, employee education, operations, supplier management, and procurement. Envir_p80_96FINAL.qxd 12/18/03 10:40 PM Page 85

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Building environmental awareness In 2002, the bank launched “CIBC & the Environment” on its intranet site to build greater employee awareness of sustainability issues for the organization. The site details the Corporate Environmental Management Program, provides information on emerging environmental topics, and encourages staff to participate in the development of sustainable solutions for the bank. During 2003, site pages were visited over 35,000 times by employees.

During 2003, CIBC launched initiatives to promote the environment and build greater awareness of sustainable development and its importance for the organization.

In addition, the site offers important opportunities for online training. For example, in the site’s environmental credit risk section, relationship managers and credit risk adjudicators have easy access to precise information on environmental credit risk assessment, including step-by-step guidance for completing the due diligence process.

In 2003, CIBC added an environmental section within “CIBC in Your Community” on the bank’s external corporate website. The site provides visitors with general policy and program information, as well as details on speciﬁc areas of activity, such as environmental risk assessment in the credit process, corporate donations, employee initiatives and promotional activities. As well, site visitors are encouraged to comment on the information provided and offer their suggestions for its improvement. Envir_p80_96FINAL.qxd 12/18/03 10:40 PM Page 86

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Credit risk management and lending Managing risks inherent in CIBC’s lending activities is a critical element of the Corporate Environmental Management Program’s mandate. At CIBC, environmental risk is integrated into the overall credit assessment process. Throughout the 1990s, CIBC environmental risk management developed and reﬁned policies and processes for assessing exposure to environmental risks in lending decisions. Environmental risk management programs and credit policies and guidelines for small and medium-sized businesses, and the large corporate sector, have been developed to protect the bank from exposure to these risks.

CIBC’s program has also had the beneﬁt of increasing awareness of environmental issues, and encouraging and promoting sound environmental management practices within its customer base.

2003 Environmental credit risk due diligence summary

Credit inquiries determined to be high risk and subject to further evaluation 220

Credits requiring subsurface investigation to determine presence, degree and extent of contamination 80

Credits involving sites requiring further action as a result of CIBC’s due diligence investigation 36

Site inspections and assessments performed by CIBC Environmental Risk Management 14

For small business and mid-market lenders, the CIBC Environmental Risk Management Reference Guide was developed as part of a comprehensive online training program and integrated into the CIBC Small Business Way learning module. The guide, which is available on the bank’s intranet site, covers a 10-step process for building environmental risk considerations into the evaluation of overall creditworthiness. It helps lenders to quickly determine the level of environmental due diligence required for particular credit situations, and assists them in understanding the bank’s requirements in assessing overall creditworthiness.

In 2003, CIBC Environmental Risk Management assisted in updating the environmental credit risk component of the bank’s Online Agricultural Credit Process. These modiﬁcations ensure that environmental risk considerations are taken into account for all agricultural credits both at the outset of the lending relationship and during annual credit renewals.

CIBC environmental risk management has developed and reﬁned policies and processes for assessing exposure in lending decisions. Envir_p80_96FINAL.qxd 12/18/03 10:40 PM Page 87

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For the large corporate sector, environmental risk evaluation is a required element in CIBC’s credit analysis due diligence. To support lenders in this market, CIBC environmental risk management developed a process tailored to this sector that addresses environmental risk exposure with clients. It covers the following: • Knowledge of the borrower – undertaking a detailed analysis to understand client ﬁnancial data to determine current and contingent environmental liabilities • Knowledge of the collateral – identifying past, present and projected use of the property and gaining an understanding of potential environmental liabilities associated with the property • Appropriate loan agreements and security documentation – including representations and warranties pertaining to compliance and property conditions, with indemniﬁcation for the bank.

In addition, CIBC environmental risk management provides a variety of value-added services that support the bank’s credit risk management activities to help ensure that CIBC and its clients follow the highest standards of environmental practice. These include: • Due diligence reviews of client information, client environmental data, compliance record assessment, interpreting consultant reports and interviewing of client personnel • Assessment of client facilities and corporate environmental management systems • Advisory services for retaining environmental consulting services • Assisting in the structuring of credits that take account of environmental risk management concerns.

CIBC environmental risk management actively supports the credit risk assessment process on behalf of all lending units throughout the organization. While CIBC risk managers have access to information for evaluating environmental risk associated with speciﬁc lending decisions, environmental risk management is routinely called upon when a greater degree of specialized risk assessment is required.

Environmental risk criteria are also included in guidance documents governing merchant banking activities undertaken by CIBC World Markets, in accordance with CIBC’s Environmental Credit and Investment Risk Management Policy established in 1999. Where environmental considerations are determined to be an applicable component of due diligence review, CIBC World Markets’ Equity Underwriting Policy identiﬁes environmental risk considerations as part of the overall assessment of risk factors in investment banking decisions. Envir_p80_96FINAL.qxd 12/18/03 10:40 PM Page 88

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Supplier relations CIBC considers environmental impact an important factor when selecting suppliers and vendors to provide goods and services in support of the bank’s operations. We seek to build relationships with suppliers and vendors who share the bank’s commitment to the environment and who have demonstrated their resolve by adopting policies and procedures in their own organizations that support sustainability and responsible environmental practice.

As one of Canada’s largest ﬁnancial institutions with ofﬁces and branches across the country, CIBC takes very seriously its responsibility to mitigate its environmental impact in the communities it serves. The bank acts on its commitment by proactively managing its real estate portfolio, supplier relationships and procurement activity to champion sustainability and economic viability across the organization.

CIBC retains a variety of real estate-related service providers, vendors and suppliers that have demonstrated sound environmental practices. These include Teknion, the bank’s global furniture manufacturer and vendor, and HOK, which supplies interior design and architectural services for the bank.

Teknion is a leading international designer, manufacturer and marketer of office systems and office furniture products, with a well-established commitment to sustainability and the environment. Non- hazardous materials are used in manufacturing, and the company does not use chlorofluorocarbons (CFCs) or hydrochlorofluorocarbons (HCFCs) in its production processes.

In 2003, the ﬁrm completed ISO 14001 Environmental Management System implementation at all of its plants and major facilities. It has been awarded Canada’s Environmental Choice Program Seal of Approval, and is certiﬁed by the GREENGUARD™ Environmental Institute, a global organization that sets environmental standards for indoor products and building materials.

HOK provides interior design and architectural services to CIBC. Considered a world leader in integrating sustainable design into everyday living, the company works with CIBC to develop sustainable design solutions for the construction and renovation of premises. Among them are: • Open concept office design to reduce the amount of construction material for new builds, and provide flexibility for reuse in different workstation configurations • Water efficiency in washrooms, with hands-free sinks and drinking water provided separately, to reduce potential waste and to facilitate alternative recycled water supply from the regular tap

CIBC's new ofﬁce designs now include the use of more environmentally friendly carpet tiles and demountable glazing panels which can be reused to meet changing space requirements. Envir_p80_96FINAL.qxd 12/18/03 10:40 PM Page 89

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• Energy efficiency, using lighting levels in office space to meet Illuminating Engineering Society lighting standards using energy-efficient fixtures and mecoshade window coverings to reduce solar gain and HVAC energy requirements • Materials and resources, such as millwork, doors, frames, paper, metal and glass, for reuse or recycling to minimize waste • Indoor environmental quality to meet voluntary industry air quality requirements, and to provide staff with maximum access to daylight and views.

Procurement As part of its ongoing strategy to strengthen its relationships with suppliers and to promote environmental stewardship, CIBC pursues initiatives as part of an evolving environmentally responsible procurement process to purchase competitively priced, environmentally friendly products and services. These initiatives strengthen existing business relationships with environmentally responsible suppliers who assist the bank in reducing its environmental footprint in existing operations and services.

INITIATIVES HAVE INCLUDED:

• Progress towards sourcing a supplier partnership to provide efficient, secure document shredding services for all CIBC offices and branches across Canada • Adopting environmentally responsible procurement guiding principles (ERP) based upon the Canadian Standards Association (CSA) environmentally responsible procurement guidelines and adapted to meet CIBC’s business environment. The principles are built into the bank’s procurement practices and decision-making processes where appropriate and applicable • Including environmental criteria in CIBC’s standard request for proposal process. These now constitute one of a number of criteria incorporated in the evaluation and selection process where appropriate • Adopting U.S. Energy Star certification criteria for energy efficiency and carbon dioxide reduction into the selection process for CIBC’s desktop, laptop, monitor, printer and fax machine standards • Increasing the number of paperless, electronic transactions by switching to Electronic Data Interchange format for invoicing where appropriate and applicable.

These initiatives are resulting in a wide variety of beneﬁts, including preferred supplier relationships based on a shared commitment to the environment and greater use of environmentally friendly, energy-efﬁcient products and services across the CIBC organization.

It is CIBC’s strategy to strengthen its relationships with suppliers and to promote environmental stewardship. Envir_p80_96FINAL.qxd 12/18/03 10:40 PM Page 90

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Facility management In 2003, CIBC premises consisted of more than 1,100 branches and 5.6 million square feet of ofﬁce space located nationwide, either leased from third-party landlords or owned by the bank. Following CIBC’s divestiture of most of its real estate ofﬁce portfolio across Canada, the bank outsourced many of its real estate functions, including project management, facilities management, lease administration, and accounting to O&Y CB Richard Ellis (OYCBRE) in 2001. Strategic functions, CIBC client management, and the day-to-day management of its third-party service providers remain in-house with CIBC Corporate Real Estate (CRE).

Within CIBC ofﬁces and branches across Canada, the bank’s operations make an environmental impact on the communities where we conduct our business. CIBC’s Corporate Environmental Management Program, with the assistance of OYCBRE, pursues initiatives to realize operational efﬁciencies in conserving resources and minimizing the adverse impact of excessive consumption of non-renewable resources on the environment.

OYCBRE plays a role in encouraging suppliers to follow CIBC’s environmental guidelines at both CIBC- owned and leased locations. As both a property owner and anchor tenant in large ofﬁce complexes, CRE works alongside other CIBC groups, facility managers, and third-party service providers to nurture environmentally responsible practices within its leased and owned facilities. For example, CRE and OYCBRE are currently working on a program to develop and track environmental metrics to measure and improve energy and water conservation within its owned facilities.

Throughout 2003, CIBC and OYCBRE undertook a number of environmental initiatives to mitigate the environmental impacts within our facilities and to promote environmental stewardship through sound facility management practices. These included: • An energy management study conducted at 750 Lawrence Avenue West, the largest CIBC-owned and occupied building. The audit was conducted to assess historical patterns of utility consumption within the building and to identify opportunities to reduce energy consumption through base building improvements. A similar energy management study is currently being contemplated for the owned branches within the CIBC network. • An HVAC management program that proactively manages and maintains heating, ventilation and air conditioning systems in branches across the country. Systems are maintained at optimal operating levels and defective equipment is either repaired or replaced.

Within ofﬁces and branches across the country, CIBC pursues initiatives to minimize environmental impacts. Envir_p80_96FINAL.qxd 12/18/03 10:40 PM Page 91

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• An environmental management program designed to mitigate environmental risk within the branch network through education, routine building audits, and proactive facility management practices. The program also aims to track and maintain detailed records of environmental work undertaken within CIBC’s premises as well as establishing a conduit to share this information between real estate managers, facility managers and environmental service providers.

In addition, CIBC purchased Evergreen Energy Green Power from Ontario Power Generation (OPG). Over the next year, CIBC will buy 2,000 megawatt hours of Green Power – electricity produced from renewable sources of power such as wind, low-impact hydroelectric, biomass and solar – from OPG for use at its ofﬁces in Toronto. All of OPG’s environmentally friendly products are produced by facilities that have been EcoLogo™ certiﬁed, or equivalent, under the federal government’s Environmental Choice™ Program.

CIBC also supported property management environmental programs in facilities where it occupies space. For example, CIBC worked closely with GWL Realty Advisors Inc. in promoting environmental performance initiatives within the large ofﬁce complexes across Canada where the bank is a tenant.

Waste reduction and recycling CIBC, with the assistance of OYCBRE, has an active waste reduction, recycling and shredding program in 590 branches and 11 ofﬁce locations across Canada. In 2003, a total of almost 2.9 million lbs. were collected and recycled.

Total CIBC recycling (lbs)(1)

1999 2000 2001(2) 2002 2003

1,365,749 3,246,674 2,714,460 2,747,653 2,898,948

(1) Recycling ﬁgures provided by third-party service providers and are based on best estimates. (2) Decrease in 2001 was due to changes in CIBC’s ofﬁce portfolio.

While the national program focuses on waste materials generated at work, comprising mainly of paper and cardboard, in the Greater Toronto Area, it also includes materials such as phone books, newspapers and magazines, compact discs and used toner cartridges.

Additionally, as a major tenant within a variety of multi-tenant ofﬁce buildings across Canada, CIBC supports and contributes to our property management’s waste reduction and recycling programs.

Ann Browne, Vice-President of Corporate Real Estate at CIBC, says the bank will continue to identify opportunities like OPG’s Evergreen Energy Green Power that are consistent with CIBC’s commitment to protect the environment. Envir_p80_96FINAL.qxd 12/18/03 10:40 PM Page 92

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PROFILE Rosemary Cull, Manager, CIBC Collections: Toronto, Ontario Nisha Govind, Manager, CIBC Collections: Toronto, Ontario 750 Lawrence Avenue West Green Month

“This is an initiative that people can really relate to,” says Rosemary Cull, manager of CIBC National Collections for Ontario based at 750 Lawrence Avenue West in Toronto. “Protecting the environment is something CIBC values and we’re helping to foster that commitment with employees.”

Launched in 2003, Green Month is a CIBC Collections departmental initiative that runs through October at 750 Lawrence Avenue West in Toronto. It focuses attention on the environment, the importance of the three Rs – reducing, reusing and recycling – and on new ideas for being more efﬁcient in the workplace. Throughout the month, tips of the week, information booths, quizzes and prizes help raise employee awareness and get them thinking about better ways for using less paper, achieving greater savings and conserving energy.

It’s an idea that connects with employees, ﬁrst in Toronto, and later in our collections centres in Vancouver and Montreal. “We’re taking action on the environment where we work to make it a better place,” says Nisha Govind, Manager, CIBC Collections. “And that’s very important.”

Employees of CIBC Collections, the “Green Team,” launched Green Month in October to promote environmental awareness in their workplace.

In addition, CIBC encourages the reuse of decommissioned computer technology as a founding member and active participant of Industry Canada’s Computers for Schools program (CFS). CFS collects, repairs and refurbishes donated surplus computers from governments and businesses and distributes them free to schools and libraries across Canada. The Government of Canada leads this project in partnership with the TelecomPioneers, the largest industry-related volunteer organization in the world. CFS operates in co-operation with all the provinces and territories, the private sector and thousands of volunteers. Envir_p80_96FINAL.qxd 12/18/03 10:40 PM Page 93

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During 2003, CIBC contributed 1,696 CPUs, 2,972 monitors and 27 printers to this organization, representing a fair market value of $600,000. CIBC has been the largest corporate supporter of CFS since it was established in 1993, contributing a grand total of over 11,000 computers over the 10-year period.

Corporate contributions CIBC supports numerous national, regional and community causes and organizations dedicated to conservation and protecting the environment.

IN 2003, THE BANK CONTRIBUTED TO A VARIETY OF ENVIRONMENTAL INITIATIVES, INCLUDING:

Waterfront Regeneration Trust – In 2003, CIBC’s support for the Waterfront Trail and Greenway project continued with a second instalment of a $250,000 commitment over three years towards the next phase of developing the 740 kilometre stretch of land that connects 35 communities between Niagara-on-the- Lake and Brockville along Lake Ontario. CIBC is a founding partner of the Waterfront Trail, having donated more than $1 million since 1996 to launch the initial restoration initiative. The bank’s contribution supports activities that will assist in the regeneration and conservation effort of the waterfront.

This latest project will result in the development of a further 125 kilometres of new trail and trail connections, and an impressive list of amenities that will further enhance the public’s ability to enjoy Ontario’s waterfront.

PROFILE Vicki Barron, Executive Director: Toronto, Ontario Waterfront Regeneration Trust

“The Waterfront Trail and Greenway is an outstanding national resource that gives people access to Lake Ontario habitats,” says Vicki Barron, Executive Director, Waterfront Regeneration Trust, a permanent charity dedicated to the regeneration of the Ontario waterfront.

The trail was opened in 1995 as a unique partnership between governments, Ontario communities and the private sector with a common goal of restoring Ontario’s waterfront to its former glory. In this next phase of development, another 125 kilometres of the Niagara-on-the-Lake- Brockville Trail will be completed within three years, amounting to 75 per cent of the project.

With CIBC’s help, people are taking notice. The trail is getting enthusiastic support from the public and a growing number of private sector companies who want to be a part of the team. “It’s a three-way collaboration between government, local communities and the private sector,” says Barron. “As our biggest contributor, CIBC has been a vital catalyst in driving us forward.” Envir_p80_96FINAL.qxd 12/18/03 10:40 PM Page 94

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World Wildlife Fund (WWF) – Canada – CIBC’s $180,000 donation over three years provides support for WWF-Canada’s Arctic Youth and Conservation Program and the Nunavut Conservation Project initiatives, which assist local communities in Canada’s Arctic. The Arctic Youth and Conservation Program gives Aboriginal young people the opportunity to experience their own culture, language and traditions more thoroughly through educational programs and training workshops facilitated by WWF-Canada, as well as through a variety of web-based initiatives.

The Nunavut Conservation Project is a continuing WWF-Canada initiative to support local communities by emphasizing the importance of conservation as a key long-term objective for achieving sustainable development in the Canadian Arctic. The project incorporates a number of initiatives designed to develop a greater understanding of conservation and traditional ecological management as critical factors governing the region’s future.

PROFILE Liz Lundy, Senior Education Manager: Toronto, Ontario WWF-Canada

In Canada’s Arctic, conservation is a vital strategy for managing development of the region to ensure its long-term survival. As part of its Nunavut Conservation Program, WWF-Canada has focused on youth education to draw attention to its importance and to create better opportunities for disseminating this information to future generations.

“It’s vital that traditional knowledge is passed down to the young so that Inuit cultural traditions can thrive,” says Liz Lundy, WWF-Canada’s senior education manager. With CIBC funding, WWF-Canada commissioned a teacher’s guide for “Thunder on the Tundra,” a seminal Inuit work documenting migration patterns of the caribou. The guide, which is distributed to every Grade 10 class in Nunavut, is an invaluable resource for assisting indigenous and non-indigenous teachers and students to learn about these animals in the life cycle of the local environment.

“With this knowledge, future leaders will be empowered to make informed decisions that will safeguard the environment,” says Lundy.

The Nature Conservancy of Canada (NCC) – NCC is a not-for-proﬁt, non-advocacy organization dedicated to land conservation and the preservation of wildlife to create a lasting natural legacy for the

With CIBC’s support WWF-Canada’s continuing initiative in Nunavut helps local communities promote conservation and sustainable development. Photographer: Lee Narraway Envir_p80_96FINAL.qxd 12/18/03 10:40 PM Page 95

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people of Canada. Established in 1962, the NCC has undertaken conservation initiatives to protect millions of acres of land across the country. CIBC’s $200,000 commitment over four years is helping to advance the cause of conservation at more than 50 of Canada’s most ecologically important sites. Our contribution will also help NCC work with communities coast to coast to protect habitats and species for future generations of Canadians and to build a natural heritage for the country.

Evergreen – CIBC contributed $75,000 over two years in support of Shade for Kids, a two-year project to provide guidelines, strategies, design ideas and plans for school ground shade programs to combat the rising incidence of skin cancer rates among young Canadians. The initiative will help reduce exposure to harmful UV rays by providing more effective means for monitoring and evaluation, helping to build awareness and developing practical solutions for improved sun safety on school grounds.

Employee as Ambassador CIBC recognizes its employees who volunteer their time and energies to supporting causes and local organizations dedicated to conservation and sustainability.

IN 2003, CIBC’S EMPLOYEE AMBASSADORS INCLUDED:

PROFILE Kendrick Barton, Retiree: Vernon, B.C. Allan Brooks Nature Centre Society

Kendrick Barton has always been involved in his community. After retiring in 1997, he joined the Allan Brooks Nature Centre Society, a local organization dedicated to increasing awareness of the Okanagan Valley as a treasured environmental resource.

“Different eco-zones converge here and you can see them all from the Nature Centre, which makes it very unique,” says Barton. Through the Employee as Ambassador Program, he helped to fund the centre’s amphibian survey examining local habitats of frogs, toads and salamanders. The data provided valuable information on local species populations that was passed on to local municipal planners to assist them in drawing up plans for future housing developments in the area.

“I think the program is tremendous,” says Barton. “When companies like CIBC get behind their employees, it helps people to get their teeth into volunteering in their communities in a big way.” Envir_p80_96FINAL.qxd 12/19/03 11:16 AM Page 96

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CIBC Ombudsman The Ofﬁce of the CIBC Ombudsman serves as an objective, independent intermediary to help CIBC’s personal and small business customers resolve any concerns they have to their satisfaction, after other avenues as set out in the bank’s complaint resolution process have been unsuccessful. The ofﬁce uses feedback received from CIBC customers through this process to help management identify areas and issues in need of attention to improve the future experience of bank customers.

The CIBC Ombudsman reports directly to CIBC’s President and Chief Executive Ofﬁcer. CIBC Ombudsman Lachlan MacLachlan can be reached by telephone at 1-800-308-6859 (in Toronto 416-861-3313), by e-mail at [email protected] or by fax at 1-800-308-6861 (in Toronto 416-980-3754).

The following are trademarks of CIBC or its subsidiaries: bizline, bizSmart, CIBC Small Business Credit Edge, CIBC Better Than Prime Mortgage, CIBC Better Than Posted Mortgage, CIBC Self-Employed Recognition Mortgage, CIBC Escalating GIC, CIBC Commercial Choice Mortgage, CIBC Access for All, CIBC World Markets, Miracle Day, Investor’s Edge, Waive Account, CIBC Youthvision, CIBC logo and “For what matters”.

The following are trademarks of other parties: President’s Choice, President’s Choice Financial and Fresh Financial Thinking are trademarks of Loblaw Companies Limited; Amicus Bank licensee of marks. President’s Choice Financial services are provided by Amicus Bank, a member of the CIBC group of companies. Run for the Cure is a trademark of Canadian Breast Cancer Foundation, used under licence. VISA International Service Association; CIBC licensee of mark. Evergreen is a trademark of Ontario Power Generation Inc. Greenguard is a trademark of Air Quality Sciences Inc. Environmental Choice Design, Environmental Choice, EcoLogo are trademarks of Environment Canada. WWF and Panda Design is a trademark of WWF-World Wide Fund For Nature. You can access a full copy of our 2003 Public Accountability Statement by visiting our website at www.cibc.com/pas

Or contact: CIBC Public Accountability Statement 25 King Street West Commerce Court North, 10th ﬂoor Toronto, Ontario M5L 1A2

E-mail: [email protected] Telephone: 1 800 465-CIBC (2422) Fax: 416-363-5347 TTY: 1-800-465-7401 (teletype device for the hearing impaired)