List of banks and credit unions in Canada

The main Montreal branch of the Bank of Montreal, Canada's oldest bank.

This is a list of banks in Canada, including chartered banks, credit unions, trusts, and other financial services companies that offer banking services and may be popularly referred to as "banks".

Banks by legal classification

Banks in Canada are classified by their ownership as domestic banks, subsidiaries of foreign banks, or branches of foreign banks.

For a greater explanation of the classifications, see Banking in Canada and Canada Bank Act

Schedule I banks (domestic banks)

Place Ville-Marie is the home to the Montreal offices of Royal Bank of Canada, Canada's largest bank.

Under the Canada Bank Act, Schedule I are banks that are not a subsidiary of a foreign bank, i.e. domestic banks, even if they have foreign shareholders. There are 24 domestic banks as of September 2012.

• B2B Bank
• Bank of Montreal
• Bank of Nova Scotia (operating as "Scotiabank")
• Bank West
• Bridgewater Bank
• Canadian Imperial Bank of Commerce (CIBC)
• Canadian Tire Bank
• Canadian Western Bank
• Citizens Bank of Canada (the bank has become a 'non-deposit taking bank' and therefore no longer offers savings and loans products.)
• CS Alterna Bank
• DirectCash Bank
• Dundee Bank of Canada
• First Nations Bank of Canada
• General Bank of Canada
• HomEquity Bank
• Jameson Bank
• Laurentian Bank of Canada
• Manulife Bank of Canada
• MonCana Bank of Canada
• National Bank of Canada
• Pacific & Western Bank of Canada
• President's Choice Bank
• Royal Bank of Canada
• Toronto-Dominion Bank (operating as "TD Canada Trust")

Schedule II banks (Canadian banks that are subsidiaries of foreign banks)

The Toronto branch of the Bank of China (Canada).

As of September 2012, there were 25 of these banks in Canada, however 3 are in liquidation.

• AMEX Bank of Canada
• Bank of America Canada (in voluntary liquidation)
• Bank of China (Canada)
• Bank of Tokyo-Mitsubishi UFJ (Canada)
• Bank One Canada (in voluntary liquidation)
• BNP Paribas (Canada)
• BofA Canada Bank
• Citco Bank Canada
• Citibank Canada
• CTC Bank of Canada
• Habib Canadian Bank
• HSBC Bank Canada
• ICICI Bank Canada
• Industrial and Commercial Bank of China (Canada)
• ING Bank of Canada (Sold to Scotiabank, brand name being shut down. )
• J.P. Morgan Bank Canada
• J.P. Morgan Canada (in liquidation)
• Korea Exchange Bank of Canada
• Mega International Commercial Bank (Canada)
• Shinhan Bank Canada
• Société Générale (Canada)
• State Bank of India (Canada)
• Sumitomo Mitsui Banking Corporation of Canada
• UBS Bank (Canada)
• Walmart Canada Bank

Schedule III banks (foreign banks with branches in Canada)

Full service

As of September 2012, there were 23 such banks in Canada.

• Bank of America, National Association
• Bank of New York Mellon (The)
• Barclays Bank PLC (Canada Branch)
• BNP Paribas (Canada)
• Capital One Bank (Canada Branch)
• Citibank, N.A.
• Comerica Bank
• Deutsche Bank AG
• Dexia Crédit Local S.A.
• Fifth Third Bank
• First Commercial Bank
• HSBC Bank USA, National Association
• JPMorgan Chase Bank, National Association
• M&T Bank
• Maple Bank
• Mizuho Corporate Bank, Ltd., Canada Branch
• Northern Trust Company, Canada Branch (The)
• Rabobank Nederland
• Royal Bank of Scotland N.V.
• Société Générale (Canada Branch)
• State Street
• U.S. Bank National Association
• UBS AG Canada Branch
• United Overseas Bank Limited

Lending only

There were 5 such banks in Canada in September, 2012.

• Allied Irish Banks, p.l.c.
• Credit Suisse, Toronto Branch
• Merrill Lynch International Bank Limited
• PNC Bank Canada
• Union Bank of California, N.A.

Government-owned banks

The Bank of Canada Building in Ottawa is the headquarters of the country's central bank.

• Bank of Canada (Central Bank)
• Business Development Bank of Canada
• Farm Credit Canada - Government-owned Farm Credit is not a deposit-taking bank. It is, however, a major lender to the agriculture and agri-food industries.

Alberta Treasury Branches

An ATB Financial branch in Edmonton.

Alberta Treasury Branches, or ATB Financial, is a unique, provincially owned company that provides banking services, but for legal reasons is not considered a bank. It was created during the Great Depression by the government of William Aberhart under the influence of the strongly anti-bank economic ideology called Social Credit. The Social Credit Party of Alberta, won the 1935 election in part on a platform that argued for the nationalisation or abolition of banks. But court cases later determined that the provincial government did not have the powers to do this. The ATB was created as a provincial-government alternative to the private banks. If it were a bank, ATB would be subject to federal legislation; therefore, the institution is never legally referred to as a bank so that it can remain under provincial jurisdiction. However, it offers all services associated with a standard retail bank.

Credit unions

Branch of Affinity Credit Union in Saskatoon.

The headquarters of the Desjardins Group in Montreal.

See also: credit union

Canada has a strong co-operative financial services sector, which consists of credit unions (caisses populaires in Quebec and other french speaking regions). At the end of 2001 Canada's credit union sector consisted of 681 credit unions and 914 caisses populaires, with more than 3,600 locations and 4,100 automated teller machines. By 2011 consolidation that reduced this number to 424 credits unions and caisses populaires outside of Quebec. Canada has the world's highest per capita membership in the credit union movement, with over 10 million members, or about one-third of the Canadian population. While the sector is active in all parts of the country, it is strongest in the western provinces and in Quebec. In Quebec 70 per cent of the population belongs to a caisse populaire, while in Saskatchewan close to 60 per cent belongs to a credit union.

Ten largest credit unions in Canada by assets, outside of Quebec

As at December 31, 2011, the 424 credit unions and caisses populaires outside of Quebec had combined assets of $150 billion, of which $68 billion was held by the ten largest.

Credit Union	Province	Assets	Members
Vancity	BC	16,032,868,803	418,937
Coast Capital Savings	BC	11,794,898,779	474,862
Servus Credit Union	AB	11,234,530,865	364,364
Meridian Credit Union	ON	7,839,852,560	252,097
First West Credit Union	BC	5,485,113,948	149,910
Conexus Credit Union	SK	3,830,020,600	115,838
Steinbach Credit Union	MB	3,555,767,581	82,886
Assiniboine Credit Union	MB	3,118,819,079	110,364
First Calgary Savings	AB	2,461,307,925	82,308
Cambrian Credit Union	MB	2,398,532,660	56,205

2001

The ten largest credit unions in Canada by assets, December 2001: This includes credit unions only (English Canada) not caisses populaires (Quebec and French Canada).

1. Vancouver City Savings
2. Coast Capital Savings
3. Surrey Metro Savings
4. Envision Financial
5. Capital City Savings and Credit Union Limited
6. Community Credit Union
7. Niagara Credit Union Limited
8. [[Civil Service Co-operative|Alterna Savings]] (Now part of CS Alterna savings)
9. Credit Society Limited
10. Steinbach Credit Union

Quebec

Most caisses populaires in Quebec (and some outside the province) are part of a network which operates as the Desjardins Group. Desjardins Group owns and operates a range of subsidiaries, including a securities brokerage, a venture capital firm, and a bank based in Florida.^{[citation needed]}

As of December 31, 2011, Desjardins Group's consolidated assets totalled $190.1 billion CAD.

The "Big Five"

Main article: Big Five (banks)

Canada's "big five" banks, in order of both assets and market capitalization:^{[citation needed]}

• Royal Bank of Canada (RBC)
• Toronto-Dominion Bank (TD Canada Trust)
• Bank of Nova Scotia (Scotiabank)
• Bank of Montreal (BMO)
• Canadian Imperial Bank of Commerce (CIBC)

Bank Name	Also Known as	Institution No
Royal Bank of Canada	RBC	003
Toronto Dominion Bank	(TD Canada Trust)	004
Bank of Nova Scotia	(Scotiabank)	002
Bank of Montreal	BMO	001
Canadian Imperial Bank of Commerce	CIBC	010

The term "big six" is frequently used as well. The "Big Six" also includes the National Bank of Canada, though it is significantly smaller than the other major banks and is focused in the provinces of Quebec and New Brunswick.

Defunct or merged banks

The Bank of British North America, on Yonge Street in Toronto.

The former Bank of New Brunswick Building in Saint John.

• Amicus Bank was in voluntary liquidation and its assets repatriated to CIBC.
• Bank of Alberta and the Western & Pacific Bank of Canada merged to become Canadian Western Bank.
• Bank of British Columbia's assets acquired by HSBC Canada.
• Bank of British North America
• Bank of Ottawa merged with the Bank of Nova Scotia in 1919.
• Bank of the People was purchased by the Bank of Montreal in 1840.
• Bank of Toronto merged with The Dominion Bank in 1955 to form the Toronto-Dominion Bank, now known as TD Bank Group.
• Banque canadienne nationale merged with Provincial Bank of Canada/Banque provinciale du Canada to become National Bank of Canada
• Provincial Bank of Canada/Banque provinciale du Canada. Merged with Banque canadienne nationale to become National Bank of Canada
• Canada Trust merged with Toronto-Dominion Bank in 2000
• Canadian Bank of Commerce merged with Imperial Bank of Canada in 1961 to form The Canadian Imperial Bank of Commerce also known as “CIBC”.
• Canadian Commercial Bank
• Eastern Townships Bank with the Canadian Bank of Commerce in 1912.
• Montreal City and District Savings Bank or La Banque d’Epargne converted from a savings bank to a regular bank and changed its name to Laurentian Bank of Canada
• Continental Bank of Canada became Lloyds Bank of Canada
• Farmer's Bank of York, Upper Canada
• Farmers' Bank of Rustico was a community bank in Prince Edward Island that closed after the passage of the 1871 Bank Act.
• Home Bank
• Imperial Bank of Canada merged with Canadian Bank of Commerce to form the Canadian Imperial Bank of Commerce, also known by the initialism CIBC
• Lloyds Bank of Canada became HSBC Canada
• Mercantile Bank of Canada, minority owned by Citibank, was merged into the National Bank in 1985.
• Molson Bank of Montreal was merged into the Bank of Montreal in 1925.
• Northland Bank
• National Bank of Greece's Canadian assets merged into Bank of Nova Scotia in 2005
• Standard Bank of Canada merged with Canadian Bank of Commerce in 1928
• Standard Chartered Bank of Canada
• Sterling Bank was acquired by Provincial Bank of Canada/Banque provinciale du Canada.

Credit agencies

• Equifax Canada
• TransUnion Canada
• Echo Group

See also

• Banking in Canada
• Credit Union
• Canadian transit number
• Canada Bank Company
• ATB Financial

External links

• List of Canadian banks at Office of the Superintendent of Financial Institutions
• List of Canadian banks via the Canada Revenue Agency website
• Credit Union Central of Canada's Publications
• List of banks in Canada
• Information about Banks in Canada