We are innovating with relevant client-focused technologies and we are simplifying our bank to make it easier for clients to do business with us.

Why it’s Important to CIBC

We recognize that the long-term success and viability of CIBC are closely linked to the confidence and trust of our clients. We aim to build deep and enduring client relationships by putting our clients at the centre of everything that we do. Bringing our vision to be the leader in client relationships to life is our team of more than 43,000 team members, who are shaping the overall client experience each and every day.

Management Approach

To embed our client-focused culture in our bank, we have:

Set our medium-term goal
  • Be #1 in client experience
Established a common bank-wide measure for client experience
  • Ipsos Customer Satisfaction Index Net Promoter Score
Aligned executive compensation to our client experience goals
  • 20% of variable compensation tied directly to the client experience

2016 Performance

We’ve seen a real shift within our bank in 2016 – a move from understanding to action – as we drive to become #1 in client experience. Over the past several years we have made progress. Our client experience scores showed the greatest improvement among Canada’s five largest banks.

In terms of measuring client experience and loyalty, we’ve made positive gains year-over-year, as measured by Ipsos Customer Satisfaction Index Net Promoter Score (NPS) which was up 1.5 points over 2015(1). (NPS is a measure of client loyalty that reflects the likelihood that a client will refer CIBC to others.)

Other metrics also indicate we’re on the right track. In the J.D. Power Canadian Retail Banking Satisfaction Study, our results have shown significant improvements in client satisfaction(2).

(1)
Ipsos CSI survey rolling four quarter total as at August 2016.
(2)
J.D. Power annual survey conducted in April-May 2016, with results reported July 2016.

Client Experience Metrics: Change from 2014 to 2016

  • J.D. Power Canadian Retail Banking Satisfaction Study Peer average: +10.5, CIBC: +19.0
  • Ipsos CSI Net Promoter ScorePeer average: +1.7, CIBC: +6.7
Peer average includes BMO, BNS, RBC and TD.