Q:

What are the top five most popular Canadian banks?

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Quick Answer

The five most popular Canadian banks are Royal Bank of Canada, Toronto-Dominion Bank, the Bank of Nova Scotia, Bank of Montreal and the Canadian Imperial Bank of Commerce. The Royal Bank of Canada is the most popular of the five with the largest market share, while the Canadian Imperial Bank of Commerce has the smallest market share.

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Full Answer

These banks are considered the most popular Canadian banks by virtue of their assets, number of branches, volume of deposits and number of employees. Each of these banks has its own specialties.The Royal Bank of Canada has assets that total $655 billion, with $400 billion in deposits, about 1.200 branches and more than 71,000 employees.

Second in popularity is the Toronto-Dominion Bank which has approximately $560 billion in assets, $390 billion in deposits, about 1,100 branches and 70,000 employees. The Bank of Nova Scotia is ranked third with about $500 billion in assets, $350 billion in deposits, slightly over 1,000 branches and nearly 68,000 employees. It is followed the Bank of Montreal with an approximate asset base of nearly $390 billion, $235 billion in deposits, 900 branches and more than 36,000 employees. Smallest of the five most popular banks is the Canadian Imperial Bank of Commerce with $336 billion in assets, $223 billion in deposits, more than 1,000 branches and about 42,000 employees.

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