Top 10 Largest Canadian Banks

Royal Bank of Canada (RBC) is the largest Canadian bank based on assets. RBC is listed as the largest Canadian company by revenue and market capitalization by The Globe and Mail and is ranked 53rd on the Forbes Global 2000 listing. It has operations in Canada, the United States, and many other countries.

Toronto Dominion Bank is the second largest, followed by Bank of Nova Scotia. The Bank of Nova Scotia is ranked 92nd on the Forbes Global 2000 listing. It has amalgamated with several other Canadian financial institutions through the years, including Summerside Bank, Montreal Trust, National Trust, Banco Sudamericano (Peru), etc.

Bank of Montreal is the 4th largest Canadian bank. With total assets of $397 billion as of July 31, 2010, BMO provides a wide range of retail banking, wealth management and investment banking products and solutions.

Canadian Imperial Bank of Commerce (CIBC) is one of the largest banks in Canada, and is recognized by a variety of organizations for its business successes, community commitment, employee initiatives and other achievements. It was named Canada's Best Consumer Internet Bank for the third year in a row by Global Finance magazine in its 11th annual “World's Best Internet Banks” competition.

Following are the Top 10 Canadian Banks (based on Assets held as of December 2008):

No., Bank, Total Assets as of Dec 2008 (in US $ Millions)
1 Royal Bank of Canada 595,034
2 Toronto Dominion Bank 462,979
3 Bank of Nova Scotia 417,283
4 Bank of Montreal 342,006
5 Canadian Imperial Bank of Commerce 290,941
6 Canada Mortgage and Housing Corp 166,187
7 Caisse de depot et de placement 152,601
8 Desjardins Group 124,366
9 National Bank of Canada 106,315
10 Maple Financial Group Inc 59,687

Source: BankScope

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Kelvin Wong Loke Yuen is an experienced writer with a strong background in finance, specializing in the creation of informative and engaging content on topics such as investment strategies, financial ratio analysis, and more. With years of experience in both financial writing and education, Kelvin is adept at translating complex financial concepts into clear, accessible language for a wide range of audiences. Follow him on: LinkedIn.

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