Are you considering setting up a bank account, or perhaps just wondering in general what the differences are between the banks you are currently using to the others that can be found in Canada. There are many different banks that are of course open for business and ready to take in clients, but choosing one can be pretty difficult, after all we  do not always know of our own needs.

When it comes down to it, choosing a bank is a lot more serious than some people might think – after all it has to do with the handling of our money – which is imperative for survival.

Here are the top five banks of Canada

 

  1. Royal Bank of Canada – Also referred to as RBC, is capitalized at around $85 billion. It is said to be serving around 18 million customers not just in Canada, it works globally as well. It is said to have over 1.3k branches all over the world. This bank had been established on 1854, and is said to release around 1% of its earnings towards charitable causes, which is respectable, it definitely has a lot to show when it comes to numbers and facts, and this is probably why it snagged a spot in the top five so easily.

  1. Toronto-Dominion Bank – Is said to have about 22 million clients, with over half of them living in Canada. This bank was founded in 1866, and has around $75 billion in market capitalization. It is pretty big globally and has managed to chat in all kinds of international listings as well. A couple of the services provided are: vehicle financing, investment banking, credit card services, commercial banking, etc.

  1. Bank of Nova Scotia – Also known as BNS and or Scotiabank. It is marketed at around $60, and is open globally – can be found in around 50 different countries in the world. This was founded in 1932, and is said to have around 20 million different customers all over the world. A couple of services provided are: commercial banking, wealth management, personal banking, etc.

  1. Bank of Montreal – Is marketed at around $50 billion, and is said to have a clientele number of around 7 million clients. This bank was founded in 1817, and is known as one of the oldest bank in the country.

  1. Canadian Imperial Bank of Commerce – Is marketed at around $15 billion, with around 11 million clients that reside in America. This bank was founded a lot more recently than the rest, having been established in 1961.

Each bank has their own little story behind them, but all the ones mentioned here are stories based off of numbers. All of these banks are trusted in Canada and widely used by the people there – as well as globally (regarding the banks that have branches open globally.) Consider one of these if you’re looking for a new banking solution that works best for you. One of these might hold the metaphorical golden-ticket.

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