TOP BANKS IN CANADA : A list of the top 5 banks in Canada
TOP BANKS IN CANADA : Banks in Canada signify the banking system that still runs on the old conventional way of running banks. The weakness of the Canadian dollar and high U.S. bank stock prices were commonly cited as obstacles to purchasing assets south of the border. However the 2007 subprime mortgage crisis reversed this trend. In the aftermath of the crisis, the Canadian dollar steadily climbed against the U.S. dollar, achieving parity in early 2008 and trading as high as 30 cents above the USD in late 2008.
Banking in Canada :
Banks in Canada signify the banking system that still runs on the old conventional way of running banks. These have remained affected by the changing financial and political situations for long and they continue to face the same due to the decline of the Government’s support and aid. As per Moody’s Investors Service, the approach of Canadian banks remained negative in 2017 as well.
TOP 5 BANK IN CANADA :
1. Bank of Montreal
Bank of Montreal was founded in 1817 and is one of the five largest banks in Canada. In the same year, the net income of the Bank of Montreal was around C$5.45 billion. It employs around 45,234 employees. It provides several services like wealth management, retail banking, and investment banking services and products. Its headquarter is situated in Montreal, Quebec. It has handled around C$774.05 billion of the total assets. Bank of Montreal generated revenue of around C$22.38 billion in the year 2018.
2. Canadian Imperial Bank of Commerce
Canadian Imperial Bank of Commerce was founded in 1867, and its headquarters is in Toronto. Canadian Imperial Bank of Commerce is the 5th largest bank in terms of asset control. It has handled around C$597.01 billion of the total assets. In the same year, the net income of the Canadian Imperial Bank of Commerce was around C$5.27 billion. It employs around 43,213 employees. Canadian Imperial Bank of Commerce generated revenue of around C$16.96 billion in the year 2018.he bank provides services such as Wealth Management, Retail and Business Banking, and Capital Markets, its core three strategic services.
3.National Bank of Canada
The National Bank of Canada was established in 1859, and its headquarters is in Montreal, Quebec. In the same year, the net income of the National Bank of Canada was around C$2.15 billion. It employs around 22,000National Bank of Canada has taken the 7th spot regarding asset control. . It has handled around C$262.47 billion of the total assets. The National Bank of Canada generated revenue of around C$6.84 billion in the year 2018. National Bank of Canada provides services like personal banking, insurance, commercial banking, and payment solutions and services employees.
4. HSBC Bank Canada
In terms of total assets acquired, HSBC Bank Canada has secured its spot in the eight positions. . The head-quarter of this bank is in Vancouver. It was founded in 1981, and since then, it has been serving the customers of Canada. Six thousand people work in HSBC Bank Canada. The total assets acquired by HSBC are C$115.0billion. As you can understand, it is a foreign subsidiary of HSBC Bank
5.Canadian Western Bank
Canadian Western Bank was established in 1988, and its headquarters is in Edmonton. Canadian Western Bank has taken the 10th spot in asset controlling, representing Canada’s only Schedule One bank specializing in mid-market commercial banking. In the same year, the net income of the Canadian Western Bank was around C$263.51 million. In the same year, the net income of the Canadian Western Bank was around C$263.51 million. It employs around 2,000 employees. It employs around 2,000 employees. It has handled around C$29,021.46 million of the total assets. Canadian Western Bank generated revenue of around C$755.10 million in the year 2018.
TOP BANKS IN CANADA
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