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

Contents 1 Banks by legal classification 1.1 Schedule I banks (domestic banks) 1.2 Schedule II banks (Canadian banks which are subsidiaries of foreign banks) 1.3 Schedule III banks (foreign banks with branches in Canada) 1.3.1 Full service 1.3.2 Lending only 2 Government-owned banks 2.1 Alberta Treasury Branches 3 Credit unions 3.1 Ten largest credit unions in Canada by assets, December 2001 3.2 Ten largest credit unions in Canada by assets, September 2008 3.3 Quebec 4 The "Big Five" 5 Defunct or merged banks 6 Credit agencies 7 See also 8 References 9 External links

[edit] 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 explation of the classifications, see Banking in Canada and Canada Bank Act

[edit] Schedule I banks (domestic banks)

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 21 domestic banks as of February, 2009.^[1]

• Bank of Montreal
• Bank of Nova Scotia
• Bank West
• Bridgewater Bank
• Canadian Imperial Bank of Commerce
• 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
• Jameson Bank
• Laurentian Bank of Canada
• Manulife Bank of Canada
• National Bank of Canada
• Pacific & Western Bank of Canada
• President's Choice Bank
• Royal Bank of Canada
• Toronto-Dominion Bank

[edit] Schedule II banks (Canadian banks which are subsidiaries of foreign banks)

As of June 2009, there were 25 of these banks in Canada, however 4 were in liquidation.^[2]

• ABN AMRO Bank Canada (in voluntary liquidation)
• Amex Bank of Canada
• Bank of America Canada (in voluntary liquidation)
• Bank of China (Canada)
• Bank of East Asia (Canada) (The)
• Bank of Tokyo-Mitsubishi UFJ (Canada)
• Bank One Canada (in voluntary liquidation)
• BNP Paribas (Canada)
• Citco Bank Canada
• Citibank Canada
• CTC Bank of Canada
• Habib Canadian Bank
• HSBC Bank Canada
• ICICI Bank Canada
• ING Bank of Canada
• J.P. Morgan Bank Canada
• J.P. Morgan Canada (in liquidation)
• Korea Exchange Bank of Canada
• MBNA Canada Bank
• Mega International Commercial Bank (Canada)
• Mizuho Corporate Bank (Canada)
• Shinhan Bank Canada
• Société Générale (Canada)
• State Bank of India (Canada)
• Sumitomo Mitsui Banking Corporation of Canada
• UBS Bank (Canada)

[edit] Schedule III banks (foreign banks with branches in Canada)

[edit] Full service

As of February 2008, there were 23 such banks in Canada.^[3]

• ABN AMRO Bank N.V.
• Bank of America, National Association
• Bank of New York Mellon (The)
• Capital One Bank (Canada Branch)
• Citibank, N.A.
• Comerica Bank
• Deutsche Bank AG
• Dexia Crédit Local S.A.
• Fifth Third Bank
• First Commercial Bank
• Glitnir banki hf.
• HSBC Bank USA, National Association
• JPMorgan Chase Bank, National Association
• Landsbanki Canada
• Maple Bank
• Mizuho Corporate Bank, Ltd., Canada Branch
• Northern Trust Company, Canada Branch (The)
• Rabobank Nederland
• Société Générale (Canada Branch)
• State Street
• U.S. Bank National Association
• UBS AG Canada Branch
• United Overseas Bank Limited

[edit] Lending only

There were 7 such banks in Canada in February, 2009.^[4]

• Allied Irish Banks, p.l.c.
• AmTrust Bank, Canadian Branch
• Credit Suisse, Toronto Branch
• Merrill Lynch International Bank Limited
• National City
• Union Bank of California, N.A.
• WestLB AG

[edit] Government-owned banks

• Bank of Canada (Central Bank)
• Business Development Bank of Canada

[edit] Alberta Treasury Branches

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.^[5]

[edit] Credit unions

Canada has a strong co-operative financial services sector, which consists of both credit unions and caisses populaires, the latter located predominantly in Quebec. 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.^[6] By 2007 consolodation that reduced this number to 525 credits unions and caisses populaires outside of Quebec. ^[7] 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

[edit] Ten largest credit unions in Canada by assets, December 2001

This includes credit unions only (English Canada) not caisses populaires (Quebec and French Canada).^[8]

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
9. Credit Society Limited
10. Steinbach Credit Union
11. HEPCOE Credit Union Limited

[edit] Ten largest credit unions in Canada by assets, September 2008

Excluding Quebec.

1. VanCity
2. Coast Capital Savings
3. Servus Credit Union
4. Meridian Credit Union
5. Envision Credit Union
6. Community Credit Union
7. Conexus Credit Union
8. Steinbach Credit Union
9. Assiniboine Credit Union
10. First Calgary Savings

[edit] Quebec

Most caisses populaires in Quebec (and some credit unions outside the province) are members of the Mouvement des caisses Desjardins. Desjardins is both an umbrella group, a brand, and a holding company. Desjardins owns and operates a number of financial businesses.^[9]

[edit] The "Big Five"

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)

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 province of Quebec.

[edit] Defunct or merged banks

• Amicus Bank was in voluntary liquidation and its assets repatriated to CIBC.
• Bank of British Columbia's assets acquired by HSBC Canada.
• 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 Financial 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 is 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
• 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.

[edit] Credit agencies

• Equifax Canada
• TransUnion Canada
• Echo Group

[edit] See also

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

[edit] References

1. ^ http://www.osfi-bsif.gc.ca/osfi/index_e.aspx?DetailID=568
2. ^ http://www.osfi-bsif.gc.ca/osfi/index_e.aspx?DetailID=568
3. ^ http://www.osfi-bsif.gc.ca/osfi/index_e.aspx?DetailID=568
4. ^ http://www.osfi-bsif.gc.ca/osfi/index_e.aspx?DetailID=568
5. ^ http://www.financialpost.com/executive/story.html?id=1787621
6. ^ [http://www.fin.gc.ca/toc/2003/ccu_-eng.asp
7. ^ [1]
8. ^ http://www.fin.gc.ca/toc/2003/ccu_-eng.asp
9. ^ http://www.fin.gc.ca/toc/2003/ccu_-eng.asp

[edit] 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

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