The “Big Five” Canadian banks include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Are there other viable options?
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The Big Five Banks: A Look at the Largest Major Banks in Canada
– canadianfinanceblog.com
Canada’s big five banks are among the largest and most respected financial institutions worldwide. And while they dominate the landscape in Canada, their operations extend well beyond our borders. But how big are the Canadian banks, and how do they compare?
In this article, I rank the big five banks by assets and provide you with key information about each. I also share some pros and cons of dealing with a big bank.
1. Toronto Dominion Bank (TSX:TD)
Head Office: Toronto, Canada
CEO: Bharat Masrani
Total Assets: $1,917,528 trillion (October 31, 2022)
Annual Revenue: $41 billion
Net Income – Reported: $17.429 billion
Market Capitalization: $161.8 billion
# of Branches: 1,060
# of Employees: 94,867
TD Bank is the largest Canadian bank measured by assets, with $1.9 trillion in total assets as of October 31, 2022. It serves more than 27 million customers worldwide and 13.5 million in Canada at over 1000 branch locations.
TD’s strength in Canada lies in its massive retail banking operation, which comprises the following businesses: TD Canada Trust, TD Business Banking, TD Auto Finance, TD Wealth, TD Insurance, and TD Direct Investing, which is our top-rated big bank online broker…
In this article, I rank the big five banks by assets and provide you with key information about each. I also share some pros and cons of dealing with a big bank.
1. Toronto Dominion Bank (TSX:TD)
Head Office: Toronto, Canada
CEO: Bharat Masrani
Total Assets: $1,917,528 trillion (October 31, 2022)
Annual Revenue: $41 billion
Net Income – Reported: $17.429 billion
Market Capitalization: $161.8 billion
# of Branches: 1,060
# of Employees: 94,867
TD Bank is the largest Canadian bank measured by assets, with $1.9 trillion in total assets as of October 31, 2022. It serves more than 27 million customers worldwide and 13.5 million in Canada at over 1000 branch locations.
TD’s strength in Canada lies in its massive retail banking operation, which comprises the following businesses: TD Canada Trust, TD Business Banking, TD Auto Finance, TD Wealth, TD Insurance, and TD Direct Investing, which is our top-rated big bank online broker…
