Big Five banks
|
|
In Canada, the term Big Five Banks is frequently used to refer to the five biggest banks that dominate the banking industry in Canada.
Schedule I banks are domestic banks that operate in Canada under government charter. The banks are widely held with no single shareholder controlling the bank. The Big Five banks are:
- Bank of Montreal
- Bank of Nova Scotia
- CIBC (Canadian Imperial Bank of Commerce)
- RBC (Royal Bank of Canada)
- TD Canada Trust
The term Big Six banks is less frequently used as well. The "Big Six" also includes the National Bank of Canada.
As of 2004, these are the only six banks listed on Schedule I as the chartered national banks. All of the six chartered banks participate in the Large Value Transfer System (LVTS) together with 8 other banks (including the Bank of Canada).
External links
- Bank of Montreal (http://www.bmo.com/)
- Bank of Nova Scotia (http://www.scotiabank.ca/)
- CIBC (http://www.cibc.com/)
- National Bank of Canada (http://www.nbc.ca)
- Royal Bank of Canada/RBC (http://www.royalbank.com)
- TD Canada Trust (http://www.td.com)