What are some of the most popular banks in Canada?


Quick Answer

Based on market capitalization and total assets, Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce are the five largest banks in Canada. Each of those banks has branches worldwide and provides services to millions of clients.

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Full Answer

The Royal Bank of Canada serves more than 16 million personal, business, public sector and institutional clients through over 1,000 offices in Canada and has branches in the United States and 38 other countries. The Toronto-Dominion Bank and its subsidiaries, collectively known as the TD Group, offer a full ranges of products and services to approximately 24 million customers worldwide. As for Bank of Nova Scotia, or Scotiabank, the bank operates in 55 countries and serves about 21 million customers.

Established in 1817, the Bank of Montreal is the oldest bank in Canada. The financial group serves more than 12 million personal, commercial, corporate and institutional customers in North America and internationally. Regarding the Canadian Imperial Bank of Commerce, the bank was formed because of the merger of two large Canadian banks, The Canadian Bank of Commerce and the Imperial Bank of Canada. It serves more than 11 million clients around the world.

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