Bank of Canada Bank of Montreal CIBC Royal Bank of Canada Scotiabank Toronto Dominion Bank
Bank of Canada BMO CIBC RBC Scotiabank TD Bank

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  • Amex Bank of Canada – The issuer of American Express Cards in Canada.
  • Bank of Canada – The central bank of Canada, established on July 3, 1934. It is not a commercial bank and does not offer banking services to the public. Since 1998, the Bank's policy has been to intervene in the foreign exchange market only under exceptional circumstances.
  • Bank of Montreal (BMO) – The fourth largest bank in Canada in terms of deposits. BMO serves over 12 million customers through offices in Canada, the US and other countries. Founded in 1817, it is the oldest bank in Canada.
  • Bank of Nova Scotia (Scotiabank) was founded in 1832 and today is the third largest bank in Canada by deposits and market capitalization. As of June 30, 2014, it had a market cap of $81.6 billion.
  • Bank West – A Canadian chartered bank with a specific focus on the western provinces. It operates as a subsidiary of Western Financial Group (TSX: WES)
  • B2B Bank is a Schedule I Canadian bank that serves a network of some 27,000 independent financial advisors and mortgage brokers across Canada. In July 2012, B2B Trust officially became B2B Bank.
  • Business Development Bank of Canada (BDC) is the only bank exclusively dedicated to entrepreneurs. BDC provides financing, venture capital and consulting services through a network of more than 100 business centres across Canada.
  • Bridgewater Bank – A Canadian Schedule I chartered bank with a portfolio of approximately $3.6 billion. Bridgewater is a wholly owned subsidiary of the Alberta Motor Association.
  • Canadian Imperial Bank of Commerce (CIBC) – One of the top five banks in Canada. It provides a wide range of consumer and business financial services through over 1,000 offices across Canada. As of May 1, 2014, it had a market cap of US$35.3 billion.
  • Canadian Tire Bank – A subsidiary of Canadian Tire Financial Services (CTFS). The Bank offers savings accounts, mortgages, insurance, credit cards and online banking services.
  • Canadian Western Bank – The largest Schedule I chartered bank with headquarters in Edmonton and principal operations in Western Canada.
  • Capital One Canada
  • General Bank of Canada offers car loans and Guaranteed Investment Certificates through a network of auto dealers and independent deposit brokers.
  • Citibank Canada – A subsidiary of Citigroup Inc., an American multinational financial services company headquartered in New York City. Citi operates in Canada through the Citibank, Citi Cards Canada, CitiFinancial and Citi Global Markets.
  • Citizens Bank of Canada – An internet bank owned by Vancity (Vancouver City Savings Credit Union). In 2009, Citizens Bank announced that it will focus its operations on Visa card services, and foreign exchange services for non-retail members.
  • CS Alterna Bank is a federally licensed bank. It operates as a subsidiary of Alterna Savings, a credit union formed in 2005 by the merger of CS CO-OP and Metro Credit Union.
  • DirectCash Bank is a Canadian owned Schedule I bank. It offers ATM accounts and prepaid credit cards. A DirectCash Bank account is ideal for everyday ATM usage, point-of-sale and bill payments.
  • Dundee Bank of Canada – A Schedule I Canadian Chartered Bank and a subsidiary of Bank of Nova Scotia. Dundee is a member of Canada Deposit Insurance Corporation (CDIC).
  • First Nations Bank of Canada is a Canadian chartered bank with branches in Saskatoon, Chisasibi, Walpole Island, Whitehorse, Nunavut, and Winnipeg. It focuses on Aboriginal marketplace in Canada. The Bank offers deposit accounts, loans, mortgages, investments, credit products and more.
  • HomEquity Bank – A Schedule I Canadian Bank and the leading National Reverse Mortgage provider. HomEquity Bank originates and administers Canada's largest portfolio of reverse mortgages under the CHIP Home Income Plan brand. HomEquity Bank is owned by Birch Hill Equity Partners.
  • HSBC Bank Canada – A subsidiary of HSBC Holdings, UK. HSBC Canada is the seventh largest bank in Canada, with offices in every province except Prince Edward Island. It is also the largest foreign-owned bank in the country. The corporate headquarters is located in the financial district of Vancouver, British Columbia.
  • ING Direct Canada (ING Bank of Canada) – A direct retail bank based in Toronto, Canada. As of June 30, 2012 the Bank had total assets of US$39.127 billion. ING is Canada’s eighth-largest bank by assets.
  • Jameson Bank – A leading provider of integrated foreign exchange and payment solutions to small and medium sized businesses in Canada and the United States. The Bank formerly known as Jameson International Foreign Exchange Corporation and changed its name to Jameson Bank in July 2008.
  • Laurentian Bank of Canada – A Schedule I Canadian chartered bank operating through a network of 156 branches and 408 ATMs located primarily in Quebec. It also has 1 branch in Ottawa. The bank provides a wide array of  retail and commercial banking services to individuals and small and medium-sized businesses.
  • Manulife Bank of Canada – A wholly owned subsidiary of Manulife Financial Corporation. It was established in 1993 and operates in all provinces and territories.
  • MBNA Canada – The largest MasterCard issuer in Canada and the fourth largest credit card issuer in the country. It operates as a division of The Toronto-Dominion Bank.
  • MonCana Bank of Canada is a Canadian Schedule I bank offering residential mortgages and deposit products.
  • National Bank of Canada – NBC is one of the largest banks in Canada and the leading bank in Quebec. It has branches in almost every province in Canada as well as offices in USA, Europe and other parts of the world.
  • PACE Credit Union offers a wide range of financial services to its members and operates as a financial co-operative. Membership is open to all residents, businesses, and non-profit organizations in the province of Ontario.
  • Pacific & Western Bank of Canada – A Canadian Schedule I chartered bank specializing in deposit and lending services. The bank's headquarters is in London, Ontario, with its deposit operations based in Saskatoon, Saskatchewan. At January 31, 2014, PWBank had total assets of C$1.437 billion, deposits of C$1.221 billion and loans of C$1.136 billion.
  • Power Corporation of Canada (TSX: POW) – A diversified international management and holding company with interests in companies in the financial services, communications and other business sectors in Canada, the United States, and Europe.
  • President`s Choice Financial – A banking service provided by Loblaw Companies. PC Financial was ranked by J.D. Power and Associates as the leader in customer satisfaction among mid-sized Canadian banks.
  • Royal Bank of Canada (RBC) – The largest bank in Canada by market capitalization and the second largest by assets. As of May 19, 2014, the company’s market capitalization was about US$97 billion. RBC has been named Safest Bank in North America and tenth safest bank globally by Global Finance magazine in 2012.
  • Tangerine Bank (formerly ING Direct) – The direct banking subsidiary of Scotiabank. ING Bank of Canada (operating as ING Direct) was acquired by The Bank of Nova Scotia for $3.1 billion in 2012.
  • TD Canada Trust – A business line of Toronto-Dominion Bank.
  • Toronto Dominion Bank – The largest bank in Canada by assets and the second largest by market capitalization and deposits. It is also the 6th largest bank in North America. As of June 30, 2014, it had a market cap of US$95.4 billion.
  • Vancity Credit Union (also known as VanCity), located in Vancouver, is Canada’s largest credit union, with over 400,000 members, and $16.1 billion in assets (2012).

Top 10 Banks in Canada

Rank Bank (Total Assets, C$b) Jan 31, 2014 Oct 31, 2013 Oct 31, 2012 Oct 31, 2011
1 Toronto-Dominion Bank 908.896 862.532 811.106 735.493
2 Royal Bank of Canada 904.714 860.819 825.100 793.833
3 Bank of Nova Scotia 782.835 743.788 668.044 594.423
4 Bank of Montreal 592.662 537.299 525.449 500.575
5 Canadian Imperial Bank of Commerce 400.955 398.389 393.385 383.758
6 Desjardins Group * n/a 212.005 196.818 190.182
7 National Bank of Canada 195.300 188.204 177.903 166.854
8 HSBC Bank Canada * 84.331 84.260 80.714 80.068
9 Laurentian Bank of Canada 33.631 33.926 34.937 28.963
10 Canadian Western Bank 19.135 18.520 16.873 14.849

* - As at December 31

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