Bank of Montreal (BMO)
- Established in 1817, it is one of the oldest banks in Canada
- Offers a wide range of personal and commercial banking services
- Has over 900 branches across Canada
Canadian Imperial Bank of Commerce (CIBC)
- Established in 1867, it is the fifth largest bank in Canada by assets
- Offers personal and commercial banking services, wealth management, and investment banking
- Has over 1,100 branches across Canada
Royal Bank of Canada (RBC)
- Established in 1864, it is the largest bank in Canada by assets
- Offers personal and commercial banking services, wealth management, and investment banking
- Has over 1,200 branches across Canada
TD Bank Group
- Established in 1855, it is the second largest bank in Canada by assets
- Offers personal and commercial banking services, wealth management, and investment banking
- Has over 1,100 branches across Canada
Bank of Nova Scotia (Scotiabank)
- Established in 1832, it is the third largest bank in Canada by assets
- Offers personal and commercial banking services, wealth management, and investment banking
- Has over 950 branches across Canada
National Bank of Canada
- Established in 1859, it is the sixth largest bank in Canada by assets
- Offers personal and commercial banking services, wealth management, and investment banking
- Has over 400 branches across Canada
Desjardins Group
- Established in 1900, it is the largest cooperative financial group in Canada
- Offers personal and commercial banking services, wealth management, and insurance
- Has over 300 branches across Canada
Laurentian Bank of Canada
- Established in 1846, it is a mid-sized bank in Canada
- Offers personal and commercial banking services, as well as mortgage services
- Has over 150 branches across Canada
HSBC Bank Canada
- Established in 1981, it is a subsidiary of HSBC Holdings plc
- Offers personal and commercial banking services, wealth management, and investment banking
- Has over 100 branches across Canada
Tangerine Bank
- Established in 1997, it is an online bank that operates solely through digital channels
- Offers personal banking services, such as savings and chequing accounts, loans, and mortgages
- No physical branches, but has access to over 3,500 ABMs across Canada through a partnership with Scotiabank
These are the top 10 banks in Canada based on their assets and market share. Each bank offers different services and has varying levels of accessibility depending on their branch network and online capabilities.
The Big Five Banks in Canada
Canada is known for its stable banking industry, with five major banks dominating the market. These banks, commonly referred to as the “Big Five,” have a strong presence not only in Canada but also in other parts of the world. In this guide, we will provide you with an overview of each of the Big Five banks and the services they offer.
Royal Bank of Canada (RBC)
The Royal Bank of Canada, or RBC, is the largest of the Big Five banks by market capitalization. RBC offers a wide range of financial services, including personal and commercial banking, wealth management, insurance, and investment banking. With over 16 million clients worldwide, RBC has a significant presence in Canada, the United States, and other parts of the world.
Toronto-Dominion Bank (TD Bank)
The Toronto-Dominion Bank, or TD Bank, is the second-largest of the Big Five banks. TD Bank offers a range of financial services, including personal and commercial banking, wealth management, and insurance. TD Bank has over 26 million clients worldwide, with a significant presence in Canada and the United States.
Bank of Nova Scotia (Scotiabank)
The Bank of Nova Scotia, or Scotiabank, is the third-largest of the Big Five banks. Scotiabank offers a range of financial services, including personal and commercial banking, wealth management, insurance, and investment banking. Scotiabank has a significant presence in Canada, the United States, and Latin America.
Bank of Montreal (BMO)
The Bank of Montreal, or BMO, is the fourth-largest of the Big Five banks. BMO offers a range of financial services, including personal and commercial banking, wealth management, and investment banking. BMO has a significant presence in Canada and the United States.
Canadian Imperial Bank of Commerce (CIBC)
The Canadian Imperial Bank of Commerce, or CIBC, is the smallest of the Big Five banks by market capitalization. CIBC offers a range of financial services, including personal and commercial banking, wealth management, insurance, and investment banking. CIBC has a significant presence in Canada and the United States.
In conclusion, the Big Five banks in Canada dominate the banking industry and offer a wide range of financial services to their clients. Whether you are looking for personal or commercial banking services, wealth management, or investment banking, these banks are a great place to start.
