Amicus Bank was a wholly owned subsidiary of Canadian Imperial Bank of Commerce (CIBC) which provided non-traditional banking to customers.
Canadian operations
Within Canada, Amicus Bank was primarily responsible for operating President's Choice Financial's retail banking operations, excluding credit cards. Amicus Bank briefly provided services under its own name through Bell Sympatico's portal. It also took on the operation of non-branch automated banking machines (primarily stand-alone ABMs at services stations, convenience stores) which were co-branded for Amicus Bank and CIBC.
The bank asked for and received approval from the Minister of Finance for voluntary dissolution in 2002. Services operated by Amicus Bank were subsequently provided by the direct banking division of CIBC. President's Choice Financial banking services were then rebranded Simplii Financial after CIBC dissolved its partnership with Loblaw Companies in 2017.[1]
Amicus Bank had 1100 employees in Canada and the US.[2]