Largest Banks in the USA and Canada

The top largest banks in the USA and Canada include Bank of America Corporation, JP Morgan Chase, RBC, Toronto-Dominion Bank, Bank of Nova Scotia, Bank of Montreal, among others.

Bank of America is one of the world's largest financial institutions and the largest bank in North America (Ranked 1st in The Banker Magazine Top 1000 World Banks ranking 2010). In addition, it is ranked No. 1 among all banks in the amount of credit extended through the U.S. Small Business Administration's 504 loan program during the 2010 fiscal year, according to SBA figures.

JP Morgan Chase is one of the world's oldest, largest and best-known financial institutions, and is one of the Big Four banks in the United States. Its clients include corporations, governments, states, municipalities, healthcare organizations, education institutions, banks and investors.

According to Bloomberg, Royal Bank of Canada (RBC) has been ranked 1st in Canada and 7th among North America's 10 largest banks as measured by assets, followed by Toronto-Dominion Bank (8th), Bank of Nova Scotia (9th) and Bank of Montreal (10th).

The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Financial Group (TD). TD is one of the top 10 largest banks in North America, based on market capitalization. In 2008, Barron's magazine named TD one of the best companies in North America, ranking it 13th out of the top 500 companies.

Bank of Montreal (BMO) is Canada's oldest bank, founded in 1817. BMO Financial Group has been recognized by the Canada China Business Council (CCBC) as the recipient of the 2010 Extraordinary Achievement Award.

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Author

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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