CIBC lauded

Toronto-based Canadian Imperial Bank of Commerce has been named the strongest bank in Canada and North America, as well as the third-strongest bank in the world, by New York-based Bloomberg Markets magazine. The ranking is based on the quality of the banks’ holdings and were based on five criteria: ratio of Tier 1 capital to risk-weighted assets; ratio of non-performing assets to total assets; ratio of loan-loss reserves to non-performing assets; stability; and efficiency.

(fcollie@investmentexecutive.com)