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List of Commercial Banks in Canada

Published by Gbaf News

Posted on April 19, 2013

1 min read

· Last updated: November 13, 2018

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Major Commercial Banks in Canada

1 Banca Commerciale Italiana – BCI Bank

2 Banque Nationale du Canada

Bank of Nova Scotia Overview

3 Bank of Nova Scotia

4 Bank of Montreal

Canada Trust and Specialized Banks

Other National and Regional Banks

5 Canada Trust
6 Business Development Bank of Canada – Banque de Développement du Canada
7 Canadian Imperial Bank of Commerce – CIBC
8 Citizens Bank of Canada
9 Canadian Western Bank
10 Citizens Trust
11 Hong Kong Bank of Canada – HSBC
12 First Calgary Savings
13 ING Direct
14 Mouvement Desjardins
15 Laurentian Bank of Canada
16 Mbanx – Canada’s first virtual bank
17 Mellon Bank Canada
18 Montreal Trust
19 National Bank of Canada
20 Pacific Coast Savings
21 President’s Choice Financial
22 Royal Bank of Canada
23 Scotiabank
24 TD Bank
25 Toronto Dominion Bank
26 Trimark Investments

Key Takeaways

  • The article provides a snapshot list of 26 commercial banks in Canada, including legacy institutions, virtual banks, and foreign-owned entities.
  • Some entries like ING Direct (now Tangerine) and HSBC Canada reflect historical names rather than current brandings.
  • Several institutions listed have ceased operations or merged, such as HSBC Canada (acquired by RBC in 2024) and Canadian Western Bank (merged in 2025).

References

Frequently Asked Questions

Is ING Direct still operating in Canada?
ING Direct has been rebranded as Tangerine Bank following its acquisition by Scotiabank in 2012 and the name change completed in 2014 ([en.wikipedia.org](https://en.wikipedia.org/wiki/List_of_banks_and_credit_unions_in_Canada?utm_source=openai)).
What happened to HSBC Bank Canada?
HSBC Bank Canada, formerly the Hongkong Bank of Canada, was acquired by Royal Bank of Canada and ceased operating under its own name as of March 28, 2024 ([en.wikipedia.org](https://en.wikipedia.org/wiki/HSBC_Bank_Canada?utm_source=openai)).
Did Canadian Western Bank still exist?
Canadian Western Bank merged into National Bank of Canada in 2025 and no longer operates independently ([en.wikipedia.org](https://en.wikipedia.org/wiki/List_of_banks_and_credit_unions_in_Canada?utm_source=openai)).

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