Top 10 banks in Canada

We will show you in detail the top 10 banks in Canada. Canada is a well-developed country and have many banks filled with many customers. In any department of life, there will always be giants that will stand out above others. There are top popular banks in the country that we will be discussing.

Top 10 banks in Canada

1. Bank of Nova Scotia 

Bank of Nova Scotia

This bank is among the oldest banks in the country and operates as ScotiabankThe Canadian multinational banking and financial services company is the third biggest bank by deposits and market capitalization. Founded on 30 March 1832, it has more than 25 million customers and its services include; personal and commercial banking, wealth management, etc. They have employed more than 90,000 individuals.

2. Bank of Montreal 

Bank of Montreal

One of the best banks in the country is the bank of Montreal. Established on 23 June 1817, the multinational investment bank and financial services company has employed more than 45,513 individuals. This bank made CAD $25.2 billion in revenue in 2020 and has over 12 million customers. Ther headquarter is located in Montreal, Quebec, Toronto, Ontario, all in Canada.

3. Royal Bank of Canada (RBC)

Founded in 1864 at Halifax, Nova Scotia, the multinational financial services company is unique for being the largest bank in Canada by market capitalization. With over 86,000 employees worldwide and 16 million customers, it is among the top 10 banks in Canada. As of 2020, the Royal Bank of Canada generated CAD $47.2 billion.

4. Toronto-Dominion Bank (TD) 

Toronto-Dominion Bank

Unlike the banks, we listed above, this bank was not established in the 18th century, but was established on 1 February 1955. It has a huge total asset of $1.41 trillion CAD as of 2019. Toronto-Dominion Ban have more than 89,000 employees and over 26 million clients worldwide, making them one of the biggest banks in Canada.

5. Canadian Imperial Bank of Commerce (CIBC) 

Canadian Imperial Bank of Commerce

This bank was founded on June 1, 1961, although its history can be traced to the 18th century, and since then it has grown to be one of the biggest banks in Canada. They have international operations in the United States, the Caribbean, Asia, and United Kingdom.  They have more than eleven million clients and has over 40,000 employees.