Canada's Top 10 Banks Based on Assets

 |  Includes: BMO, BNS, CM, RY, TD
by: David Hunkar

The top 10 Canadian banks based on assets held as of Dec. 2008 are listed below:

S.No. Bank Total Assets as of Dec, 2008 (in US $ Millions)
1 Royal Bank of Canada 595,034
2 Toronto Dominion Bank 462,979
3 Bank of Nova Scotia 417,283
4 Bank of Montreal 342,006
5 Canadian Imperial Bank of Commerce 290,941
6 Canada Mortgage and Housing Corp 166,187
7 Caisse de depot et de placement 152,601
8 Desjardins Group 124,366
9 National Bank of Canada 106,315
10 Maple Financial Group Inc 59,687
Click to enlarge

Source: BankScope

The largest Canadian bank based on assets is the Royal Bank of Canada (RY), which is also the most profitable among the big five banks. The second and third largest banks are TD Bank(TD) and Bank of Nova Scotia(BNS) respectively.

Canada Mortgage and Housing Corp(CMHC) is Canada’s housing agency that provides mortgage loan insurance, mortgage-backed securities, housing policy and programs, and housing research. Montreal-based National Bank of Canada trades on the TSX with the ticker NA. Desjardins Group is the country’s largest financial cooperative group.