The Canadian Imperial Bank of Commerce is testing out Sunday branch hours in select locations, in another sign of what bank executives say is an increasingly competitive market for retail customers.
CIBC said Monday that it will introduce Sunday hours in some of its Vancouver and Toronto branches starting later this year – a move designed to coincide with the busiest shopping season of the year.
In June, Toronto-Dominion Bank announced it will increase its branch hours across the country beginning Nov. 1. More than 800 TD branches will be open Monday to Saturday at 8 a.m., it said.
These moves come despite the increasing number of transactions that banking customers are conducting on the Internet. The banks say branches are still key for selling new products to customers, and building a relationship with them.