Scotiabank is the third-largest bank in Canada, with total assets valued at over $1.184 trillion.
RBC earned a net income of more than $16.1 billion in its 2021 fiscal year. It’s also notable for having the most domestic branches and ATMs of any bank in Canada. The bank boasts over 16 million clients and employs more than 86,000 people worldwide. RBC maintains a sizable global presence, with branches in more than 30 countries, including the United States and Caribbean region. The bank divides its business operations into six segments: Personal and Commercial Banking, Wealth Management, Investor and Treasury Services, Capital Markets, Insurance, and Corporate Support. Since then, it’s expanded to become the second-largest bank in Canada, with a balance sheet that lists over $1.706 trillion in assets. RBC’s origins trace to 1864 in Halifax, Nova Scotia, where it began business providing financing to the fishing and timber industries in the Maritime Provinces. The Financial Stability Board lists Toronto-Dominion Bank as one of the world’s most systematically important banks. TD reported a net income of over $14.0 billion in its 2021 fiscal year.
Its subsidiaries include TD Securities, which provides investment banking services and TD Waterhouse, which offers financial planning and wealth management services. The bank employs over 90,000 people and operates over 1,100 branches across Canada. It’s well-known for its extended branch hours, and markets itself as an accessible bank that caters to busy people with hectic schedules. Today, the bank provides a broad array of retail, commercial and investment banking products and services domestically and abroad, serving over 22 million customers. As mentioned, TD is the largest bank in Canada by assets size with assets of $1.728 trillion as of October 31, 2021.įounded in 1955, TD was the product of a merger between the Bank of Toronto and the Dominion Bank.
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