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. SOURCE CIBC
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV