CIBC comments on Aimia press release

TORONTO, June 27, 2013 /CNW/ - CIBC (TSX: CM) (NYSE: CM) today commented on 
the press release issued by Aimia: 


    --  As we have commented previously, our objective is to have the
        market leading travel card in Canada for our clients either
        through the revitalization of the Aeroplan partnership or
        through the launch of our own proprietary card offer.
    --  In keeping with our contractual rights including our right of
        first refusal as the incumbent issuer, and notwithstanding that
        the notice provided by Aimia has been presented in a way that
        is inconsistent with our understanding of our rights, we are in
        the process of reviewing the proposed terms provided by Aimia
        to see if our objective can be achieved through a renewal of
        our agreement.
    --  In the meantime, it is business as usual for our clients who
        continue to earn rewards on their CIBC Aeroplan card.

About CIBC
CIBC is a leading North American financial institution with more than 11 
million personal banking and business clients. CIBC offers a full range of 
products and services through its comprehensive electronic banking network, 
branches and offices across Canada, and has offices in the United States and 
around the world. You can find other news releases and information about CIBC 
in our Media Centre on our corporate website at www.cibc.com.

Kevin Dove, Head of External Communications at 
416-980-8835,kevin.dove@cibc.ca

SOURCE: CIBC

To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/June2013/27/c3772.html

CO: Canadian Imperial Bank of Commerce
ST: Ontario
NI: FIN 

-0- Jun/27/2013 11:10 GMT


 
Press spacebar to pause and continue. Press esc to stop.