Jul 09, 2021

Top 5 Banks in Canada

Sajana Samarasinghe
2 min
Canada Banks
Business Chief North America charts the largest banks in Canada ranked by revenue.

Regarded as one of the safest banking sectors globally, the Canadian banking system is built from five primary categories: charted banks, trust & loan companies, life insurance, securities dealers & cooperative credit movement.

Business Chief North America charts the largest banks in Canada ranked by revenue. These financial institutions provide excellent service to their clients and are sort after places to work by graduates. 


1 Royal Bank of Canada



With over 1300 branches in various countries including the united states & the Caribbean this banking giant serves 17 million customers. Established in 1864, RBC leads this list with the largest revenue figure. 

Revenue: CAD 42.8 billion 


2 Toronto Dominion Bank



Recognised as the 2nd safest bank in North America by Global Finance, the TD bank group is also one of Canada’s best employers according to Forbes. TD offers commercial & banking products to 11 million customers through over 1,140 branches. 

Revenue: CAD 36.4 billion


3 Bank of Nova Scotia

Bank of Nova Scotia


With strong services in wealth management & investment banking, this financial institution has a workforce of approximately 90,000 employees. It is headquartered in Halifax, it has a global customer base in over 55 countries.

Revenue: CAD 25.3 billion


4 Bank of Montreal

Bank of Montreal


Founded in 1817 the bank of Montreal serves its customer base of 12 million through over 1407 branches. The bank’s strongest offerings include wealth management & retail banking.

Revenue: CAD 22.2 billion 


5 Canadian Imperial Bank of Commerce



With a workforce of around 43,000, a customer base of 11 million and over 1000 branches; the CIBC is the 5th largest bank in Canada. This institution focuses its services on wealth management, capital markets as well as business & retail banking. 

Revenue: CAD 16.2 billion




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