With total assets amounting to almost 1.73 trillion Canadian dollars, Toronto-Dominion Bank (TD Bank) is the largest bank in Canada, closely followed by the Royal Bank of Canada (RBC) with total assets of around 1.71 trillion Canadian dollars. The revenues of these banks increased since 2015, indicating that the banking sector in Canada is growing.
The Canadian Banking industry
Canada is a large, diverse country, and the domestic banks provides several different banking services: retail banking, investment banking, corporate banking and private banking. In retail banking, also known as consumer banking, which refers to banking services to individuals, non-corporate, customers, RBC received the highest customer satisfaction in 2021.
Canadian banks in a global perspective
The two largest Canadian banks - TD Bank and RBC - are not only the largest banks in Canada in terms of market capitalization, but are also among the largest banks in the world, following a range of U.S. and Chinese based banks. The largest bank worldwide, by market capitalization is JPMorgan Chase.
Largest banks in Canada in 2021, by total assets
(in billion Canadian dollars)
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Statista, & Statista. (February 17, 2022). Largest banks in Canada in 2021, by total assets (in billion Canadian dollars) [Graph]. In Statista. Retrieved August 13, 2022, from https://www.statista.com/statistics/434554/leading-banks-in-canada-assets/
Statista, und Statista. "Largest banks in Canada in 2021, by total assets (in billion Canadian dollars)." Chart. February 17, 2022. Statista. Accessed August 13, 2022. https://www.statista.com/statistics/434554/leading-banks-in-canada-assets/
Statista, Statista. (2022). Largest banks in Canada in 2021, by total assets (in billion Canadian dollars). Statista. Statista Inc.. Accessed: August 13, 2022. https://www.statista.com/statistics/434554/leading-banks-in-canada-assets/
Statista, and Statista. "Largest Banks in Canada in 2021, by Total Assets (in Billion Canadian Dollars)." Statista, Statista Inc., 17 Feb 2022, https://www.statista.com/statistics/434554/leading-banks-in-canada-assets/
Statista & Statista, Largest banks in Canada in 2021, by total assets (in billion Canadian dollars) Statista, https://www.statista.com/statistics/434554/leading-banks-in-canada-assets/ (last visited August 13, 2022)