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The Canadian Bank of Commerce

The Canadian Bank of Commerce:


Originating in the takeover by a wealthy group of investors of the Bank of Canada in the Province of Canada the Canadian Bank of Commerce was created in 1867 and headquartered in Toronto. The Bank issued its first bill that same year and continued tender until 1935. Throughout its existence the Canadian Bank of Commerce grew to a respectable size, becoming the fourth largest bank in Canada, holding activities in numerous international locations, and buying out competitors such as the Gore Bank in 1870, the Halifax Banking Company in 1903, The Merchants’ Bank of P.E.I. in 1906 and the Eastern Townships bank in 1912. In 1961 the bank amalgamated with the Imperial Bank of Canada, forming the entity presently known as the CIBC. Of local interest, 1867 banknotes officially countermarked “London” exist, and are sought-after. Additionally, Issues from the Canadian Bank of Commerce also exist from branches in the British West Indies. Bills denominated in Pounds and Dollars were issued for Barbados, Jamaica and Trinidad.