Top Canadian Banks

There are several features that make the big five Canadian banks stand out from other banks in Canada. Among the most impressive of these is the fact that the banks have a history in the country and have adapted and grown to be dynamic figures in the world banking market. In addition, the banks have diligently worked to maintain the level of customer service required to maintain their standing within both the local and global community.

The Royal Bank of Canada, RBC, is the largest bank and largest company in Canada. It ranks in the first 100 on the Forbes Global 2000 list and operates in over thirty countries. In addition to providing every day banking services to individuals, RBC also provides services to small and large businesses. An individual who is considering a start-up business will find that the RBC business center provides both service and important information to business owners on ways to expand their revenue and secure their presence in the market.

RBC offers a wide range of services that include provision of insurance products. An individual can easily assure repayment of a loan with the addition of loan insurance. Travel and home owners insurance are also offered to customers of the bank. In addition, a wealth management division gives an individual the opportunity to access financial advisors who are well trained and adept at matching customer needs with the best investment and savings opportunities available.

The Toronto-Dominion (TD) Bank Financial Group is the 2nd largest bank in Canada with a main office in Toronto. They serve over 14 million customers throughout the world and have four distinct divisions to make it much easier for consumers to find the services they need quickly. This is one of the banks that is traded on both the Toronto and New York Stock Exchange and maintains solid returns for investors.

As a leader in the world’s online service, TD Bank stands out as an extremely intuitive institution that has taken into account the needs of the six million customers they serve. Offering a wide selection of programs that include flexible financing to individual seeking personal, domestic, or commercial loans, the Bank is continually adapting to changing technological and global needs. In addition, they are noted for being one of the largest direct-response insurers for home and auto in the country.

Scotia Bank, or the Bank of Nova Scotia has it’s main headquarters in Toronto and maintains a strong presence in Latin America, Asia, and the Caribbean. In order to meet the individual needs of it’s local and global customers, Scotia Bank has a distinct infrastructure that provides representatives and advisors with a thorough knowledge of international banking and the most viable investment options for their clients.

There are more than 7 million corporate and retail clients being served in the domestic and international banking divisions in over 40 countries. The Capital Market and Investment branch provides a multitude of products to corporate, governmental and institutional clients. Individuals and businesses will find that the wealth management assistance provided by Scotia Bank is unparalleled in creating thriving and dynamic portfolios on the world market.

The fourth big five bank is the CIBC, or Canadian Imperial Bank of Commerce. This bank, headquartered in Toronto provides services to Canada, Asia, the US and the Caribbean. Most notably, CIBC was the first bank to introduce ATMs in Canada and have maintained a highly competitive loan structure relative to interest rates. Their diligence in maintaining a foothold in the technological advancement of banking has included the introduction of a mobile banking system that allows individual to conduct their banking from any medium that uses the Internet including portable PDAs and phones.

The final noteworthy big five bank is the Bank of Montreal, BMO. Since 1817, BMO has been serving clients and adapting their infrastructure and technology to meet the needs of their growing clientele. This dynamic organization provides a wide range of services to customers that include wealth management services through the BMO-Nesbitt Burns division. This division also offers several insurance products that are specifically designed to protect individual and corporate assets.

Personal and commercial banking services are provided through the BMO Financial Group which is one of the three divisions that have been designed to address the unique and diverse needs of both individuals and businesses. Advisors provide information to clients on the methods and options available to grow a thriving business or create a financially secure retirement.

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