Top Banks in Canada
Canada's banking sector is dominated by the "Big Five" banks, which control the vast majority of assets, deposits, and market share. These are the largest by total assets and market capitalization as of 2025, based on rankings from sources like Forbes, Investopedia, and Statista. I've included the official websites for each, which you can visit for services like personal banking, investments, and loans. For completeness, I've also noted the "Big Six," which adds the National Bank of Canada (primarily serving Quebec and New Brunswick).
Royal Bank of Canada RBC
https://www.rbc.com
Largest bank, strong mobile app, global reach
International banking, wealth management
Toronto-Dominion Bank TD Bank
https://www.td.com
Excellent customer service, U.S. presence
Cross-border banking, everyday banking
BMO Canada - Personal Banking, Credit Cards, Loans
https://www.bmo.com
Bank of Montreal, BMO Financial Group
Good business banking, solid mobile tools
Small businesses, personal banking
Scotiabank
https://www.scotiabank.com/ca/en/personal.html
Scotiabank is a trade name used by the Bank of Nova Scotia, a CDIC member.
Strong in Latin America, good rewards
International access, credit cards
Canadian Imperial Bank of Commerce CIBC
https://www.cibc.com
National Bank of Canada NBC
https://www.nbc.ca
These banks are all federally regulated, CDIC-insured up to $100,000 per depositor,
and offer extensive branch networks across Canada (plus international presence for some).
digital-only or alternative options
Canada has a diverse landscape of regional banks, credit unions, and digital-only institutions.
Desjardins Group
These are smaller in scale but offer competitive services, often with a focus on specific regions, lower fees, or online convenience.
All are federally or provincially regulated and CDIC-insured up to $100,000 per depositor where applicable.
https://www.desjardins.com
Largest credit union (technically a cooperative, but functions like a bank);
Canada’s largest cooperative financial institute.
Quebec-focused with national reach; ~$400B assets.
Canadian Western Bank
https://www.cwbank.com
On March 1, 2025 Canadian Western Bank and National Bank of Canada amalgamated and continued as one bank under the name National Bank of Canada. Any reference in this website or any linked document(s) to "Canadian Western Bank" is hereby deemed to be amended to refer to "National Bank of Canada".Laurentian Bank of Canada
Regional (Quebec and Ontario); full-service with ~$50B assets; strong in mortgages and SMB lending.
www.laurentianbank.caRBC Royal Bank
https://www.rbcroyalbank.com
RBC Personal Banking
For credit unions, Desjardins is the giant, but there are hundreds more like Vancity (BC) or Meridian (Ontario).
CIBC Competitive mortgage rates, simple online tools
Home buyers, basic bankingOnline & Challenger Banks
These are digital-first with fewer fees and higher interest rates.
Equitable Bank: Canada's Challenger Bank™
https://www.equitablebank.ca
Manulife Bank: Online Personal Banking
https://www.manulifebank.ca
Manulife Bank is Canada's first branchless bank. Open a bank account online today and start banking online right away.
Health + finance integration
Professionals, hybrid banking
low fees, travel perks, investment tools, or mobile experienceWealth One Bank of Canada WealthONE
https://www.wealthonebankofcanada.comAlterna Savings
https://alterna.ca/en/personal
Alterna Savings and Credit Union Limited (Alterna) has been the Good in Banking for over 115 years.
Alterna Savings is a full-service credit union based in Ontario and Quebec, offering both in-person branch services and digital banking options.
Canadian Computer Stores
Software Canada
Cell Phone Canada
Canadian Dating