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- Foreign bank subsidiaries and full-service foreign bank branches are the only two types of foreign bank institutions in Canada that can accept deposits. This article refers to them together as foreign banks or foreign bank operations. Foreign bank subsidiaries are full banks in Canada that are owned by foreign parent companies as subsidiaries.
www150.statcan.gc.ca/n1/pub/11-621-m/11-621-m2006041-eng.htm
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Below are the branches, subsidiaries and representative offices of foreign banks operating in Canada. AMEX Bank of Canada – A subsidiary of American Express. Bank of America, Canada Branch
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Walmart Canada Bank was a Schedule II chartered bank...
- Canada
There are 83 banks operating in Canada including 35 local...
- Walmart Canada Bank
Apr 22, 2024 · What is the best international bank in Canada? The best international bank account for you will depend on your specific preferences and needs. Here we’ll look at an overview on each provider - and then later we’ll explore more in detail so you can see if any may suit your needs. Not sure how to pick? Don’t worry.
We regulate foreign bank branches operating in Canada under the Bank Act. Some branches offer full banking services and can take deposits, while others can only lend.
A foreign bank that is the subject of an order permitting it to establish a branch in Canada is referred to as an Authorized Foreign Bank (AFB). A foreign bank may apply to establish either a "full-service branch" or a "lending branch" 1.
- Royal Bank of Canada
- Toronto-Dominion Bank
- Bank of Nova Scotia
- Bank of Montreal
- Canadian Imperial Bank of Commerce
- National Bank of Canada
- HSBC Bank Canada
- Laurentian Bank of Canada
- Canadian Western Bank
Royal Bank of Canada (RBC)is the largest bank in Canada by assets, revenue and market capitalization. The company’s business segments include Personal & Commercial Banking, Wealth Management, Insurance, Investor & Treasury Services and Capital Markets. With over 91,000 employees, it serves more than 17 million customers through approximately 1,270 ...
Toronto-Dominion Bank(or TD Bank Group) is the second-largest bank in Canada by assets and revenue. With around 1,060 branches and 3,400 ATMs across the country, it offers a complete range of personal, corporate, investment and insurance services. The company's main business segments are Canadian Personal and Commercial Banking, U.S. Retail Banking...
Bank of Nova Scotia(Scotiabank) is the third largest bank in Canada by total assets. The company is Canada's most international bank with presence in 55 countries and over 90,000 employees. It provides a full array of products and services including personal, corporate and investment banking, home and auto insurance, life insurance, online and mobi...
Bank of Montreal (known as BMO Financial Group) is one of the big four Canadian banks. It employs around 47,000 people and serves customers through 877 branches and 3,200 ATMs in Canada, and 500 branches and 1,486 ATMs in the United States. The company's main business divisions are Personal & Commercial Banking, Capital Markets, and Wealth Manageme...
Canadian Imperial Bank of Commerce(CIBC) is the fifth largest bank in Canada with about 13 million customers, 49,000 employees, 1,020 branches and 2,980 ATMs. The Bank's key business segments are Personal and Small Business Banking, Commercial Banking, Wealth Management and Capital Markets. CIBC shares are listed on the Toronto Stock Exchange (TSX)...
National Bank of Canadais the largest bank in Quebec and the sixth largest in Canada. With about 390 branches, it offers retail, corporate and investment banking services including chequing accounts, high interest savings accounts, personal and business loans, mortgages, debit cards, low rate and no annual fee credit cards, insurance, asset managem...
HSBC Bank Canada, headquartered in Vancouver, British Columbia, is a wholly-owned subsidiary of UK-based HSBC Holdings plc. It is the largest foreign bank in Canada, with total assets of over C$120 billion and branches in every province. The company is a member of Canadian Bankers Association and Canada Deposit Insurance Corporation (CDIC).
Laurentian Bank of Canada(LBC) is a universal bank with main activities in the province of Quebec. The company employs about 3,000 people and operates through over 60 branches and 160 ATMs. The Bank's main business lines are Retail and Business Banking, B2B Bank, Securities and Capital Markets, and LBC Financial Services. As at July 31, 2021, Laure...
Canadian Western Bank(CWB), based in Edmonton, is a Schedule I chartered bank with a primary focus on businesses and their owners. CWB’s loan book is mainly represented across British Columbia, Alberta and Ontario. CWB was created through the merger of Western & Pacific Bank of Canada and Bank of Alberta in 1988. Today, the company has about 40 bra...
May 10, 2023 · There are three main types of banks in Canada. These are: Domestic banks (or schedule I banks) - run entirely in Canada, unassociated and unaffiliated with any foreign organisations²; Subsidiaries of foreign banks permitted to do business in Canada (schedule 2 banks)³; Authorised foreign banks working in Canada (schedule 3 banks.⁴
Introduction: This Advisory provides an overview of how the Office of the Superintendent of Financial Institutions (OSFI) administers and interprets Parts XII and XII.01 of the Bank Act (the Act), which set out the framework for the branches, activities and investments in Canada of certain foreign banks and entities associated with a foreign bank.
