Banks

Big Five is the name given to the five biggest banks that dominate the banking industry in Canada. All five banks are operationally headquartered in Toronto, Ontario.

1) Royal Bank of Canada

royal bank of canadaThe Royal Bank of Canada is the largest Canadian bank by revenue and market capitalization.

They provide personal and commercial banking, wealth management, insurance, investor services and capital markets products and services on a global basis.

They have over 80,000 full- and part-time employees who serve more than 16 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 37 other countries.

2) Toronto Dominion Bank

td-bank

Headquartered in Toronto, Canada, with more than 80,000 employees in offices around the world, The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group (TD).

TD offers a full range of financial products and services to more than 24 million customers worldwide through three key business lines:

  • Canadian Retail including TD Canada Trust, Business Banking, TD Auto Finance (Canada), TD Wealth (Canada),TD Direct Investing and TD Insurance
  • U.S. Retail including TD Bank, America’s Most Convenient Bank, TD Auto Finance (U.S.), TD Wealth (U.S.) and TD’s investment in TD Ameritrade
  • Wholesale Banking including TD Securities

3) Bank of Montreal

Bank-of-Montreal-Logo

They provide personal and commercial banking, wealth management, insurance, investor services and capital markets products and services on a global basis.

4) ScotiaBank

Scotia bank of canada

They provide personal and commercial banking, wealth management, insurance, investor services and capital markets products and services on a global basis.

5) Canadian Imperial Bank of Commerce

CIBC_logo.svgThe Canadian Imperial Bank of Commerce, as it is known today, came into being in 1961.

The bank was formed through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada. At the time, they were two of Canada’s largest banks.

They provide personal and commercial banking, wealth management, insurance, investor services and capital markets products and services on a global basis.