THE Canadian Imperial Bank of Commerce celebrates its 25th anniversary in Hongkong this year.
CIBC's predecessor, Canadian Bank of Commerce, opened for business in 1867 and, despite modest beginnings as a regional bank, it has grown substantially.
CIBC set up its first representative office in Hongkong in 1968, which was followed with a branch office in 1978.
Since then, CIBC has expanded throughout Asia to Singapore, Taiwan, Japan and China, providing a full range of services, including corporate lending, trade financing, exclusive private banking and treasury products.
In addition, the CEF group, CIBC's equal joint venture with Li Ka-shing's Cheung Kong (Holdings), provides investment and merchant banking services.
''Asia will be the area of high growth for the rest of the decade and CIBC is proud to have established itself as the bank with the largest scope of Canadian presence in Hongkong,'' said William Spence, CIBC's executive vice-president, Asia.
With its level of activity in Hongkong doubling over the past five years, CIBC owed its successful integration into the local market to its complete range of services and strong cultural ties between the shores of Hongkong and Canada, Mr Spence said.