Banks in Canada: According to The World Economic Forum, Banking in Canada is the safest method to do banking in international transactions in the world for the last six years.
The Royal Bank of Canada and Toronto-Dominion Bank are the best and largest banks in Canada.
Below are the top 5 and largest banks in Canada:
1. Royal Bank of Canada: The Royal Bank of Canada is the largest bank in Canada. This bank has more than 15 million clients and around 10,000 employees. The Royal Bank of Canada has Headquarter Office in Toronto, Ontario. This bank was founded in Halifax, in 1864 as a bank that finances the timber and fishing industries. The RBC Bank has around 1,200 branches. RBC also has a number of branches in 17 Caribbean countries whereas RBC Capital Market is a huge and a global investment.
2. Toronto-Dominion Bank: The Toronto-Dominion Bank is a financial service institution and multinational banking with its headquarter Office in Toronto. This bank works in Canada as a TD Bank Group and was founded by the union of the Bank of Toronto in 1955 that was formed in the year 1855 and Dominion Bank was also founded in 1869. TD Bank group is the second largest group in Canada by asset value. TD Bank has 25 million customers and more than 90,000 staff members worldwide and serves around 11 million customers in Canada with help of its 1,150 branches.
3. Bank of Nova Scotia: Bank of Nova Scotia is a third-largest bank in Canada by deposits and market capitalization. The bank has over 23 million customers across different 55 countries that offer a huge variety of services and products like personal banking, investment, and commercial. This bank was established in Halifax in 1832 and is a member of The London Bullion Market Association.
4. Bank of Montreal: The Bank of Montreal is the fourth largest bank in Canada by asset value. This bank was founded in 1817 and was the first bank in Canada. BOM established its branches in 1895 in Newfoundland and got merged in 1925 with Milson bank. The bank has over 800 branches that serve more than seven million clients.
5. Canadian Imperial Bank of Commerce: This bank has its executive office in Toronto, Ontario at Commerce Court. This CIBC bank has 2 strategic business divisions: Retail Market and World Market. This bank has its operations in Asia, Europe, Caribbean, and the US too and serves more than 10 million clients. The Canadian Imperial Bank of Commerce was named as the third strongest bank by Bloomberg Market magazine. This bank was formed in the year 1961 through coming together of the Imperial Bank of Canada and the Canadian Bank of Commerce which were the largest banks of Canada.
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