Top 10 Biggest Financial Companies In Canada By Market Cap
Financial service firms are vital to the Canadian economy. Banks, insurance companies, and other financial service providers ensure accurate financial data as well as the smooth operation of capital transfers, payments, investments, and credit.
Canada has a total of 174,454 Finance Companies. Toronto is the most populous province, accounting for 59% of the Canadian Finance industry (102,626 Finance firms). Montréal comes in second with 40,848 finance companies in Canada (23%). Vancouver also has a sizable number of finance firms: 11,378.
Banks, credit unions, insurance companies, and investment firms are the most common types of financial institutions.
Market Cap (USD)
Royal Bank of Canada
Bank of Montreal
Bank of Nova Scotia
Canadian Imperial Bank of Commerce
Manulife Financial Corporation
Sun Life Financial Inc.
Great-West Lifeco Inc.
Intact Financial Corporation
Headquarters: Montreal, Quebec, CanadaToronto, Ontario, Canada
According to market capitalization, Royal Bank of Canada is Canada’s largest bank and a global provider of financial services. The bank has over 89,000 employees worldwide and serves over 17 million customers. It was founded in 1864 in Halifax, Nova Scotia, and now has offices in both Toronto and Montreal.
The bank’s personal and business banking divisions, known as RBC Royal Bank in English and RBC Banque Royale in French, have 1,209 branches across Canada and serve approximately 10 million customers.
Founded: February 1, 1955
Headquarters: Toronto-Dominion Centre, Toronto, Ontario, Canada
Toronto, Ontario, CanadaToronto-Dominion Bank is a Canadian multinational banking and financial services corporation. The bank and its subsidiaries are known as Toronto-Dominion Bank and are frequently abbreviated as “TD.” On February 1, 1955, the Bank of Toronto and the Dominion Bank, both founded in 1855 and 1869, merged to form the new institution. In Toronto, one of the two Big Five Canadian banks, along with the Canadian Imperial Bank of Commerce, was founded.
Founded: 23 June 1817
Headquarters: Bank of Montreal Head Office, Montreal, Quebec, Canada
It is one of Canada’s Big Five banks, the third-largest bank in terms of market capitalization and assets, one of North America’s eight largest, and one of the top 50 banks in the world. On the Toronto and New York stock exchanges, it is commonly referred to as “BMO.” As of October 2021, it managed assets worth $634 billion.
Founded: March 3, 1832
The Bank of Nova Scotia (French: Banque de Nouvelle-Écosse), doing business as Scotiabank (French: Banque Scotia), is a Canadian multinational banking and financial services corporation based in Toronto, Ontario. It is the third-largest Canadian bank by deposits and market capitalization, and one of Canada’s Big Five banks.
Brookfield Corporation is a multinational Canadian corporation that is one of the world’s largest alternative investment management firms.
Brookfield Asset Management Inc.’s name was changed to Brookfield Corporation on December 9, 2022. Brookfield Corporation then spun off a 25% stake in their asset management division into the newly publically traded Brookfield Asset Management Ltd.
Founded: June 1, 1961
Headquarters: Toronto, Ontario, Canada
Canadian Imperial Bank of Commerce is a global banking and financial services company headquartered at CIBC Square in Toronto, Ontario’s Financial District. In 1961, the Canadian Bank of Commerce (founded in 1867) and the Imperial Bank of Canada (founded in 1873) merged to form the Canadian Imperial Bank of Commerce, the largest merger of licensed banks in Canadian history. One of two “Big Five” banks founded in Toronto, the other being Toronto-Dominion Bank.
Founded: June 23, 1887
Headquarters: 200 Bloor Street EastToronto, Ontario
Manulife Financial Company is a global Canadian insurance company and financial services provider headquartered in Toronto, Ontario. The company is known as “Manulife” in Canada and Asia, and it primarily conducts business in the United States through its John Hancock Financial branch. As of December 2021, the company had CA$1.4 trillion in assets under management and administration, 38,000 employees, and 119,000 contracted agents. Manulife served approximately 26 million customers at one time.
Headquarters: Toronto, Ontario
A Canadian provider of financial services is Sun Life Financial Inc. It is most recognized for being a life insurance provider. With more than CAD 1.3 trillion in assets under administration and operations in several nations, Sun Life has a foothold in the investment management industry.
Great-West Lifeco Inc. is a Canadian insurance-focused financial holding company that operates through five wholly owned, regionally focused subsidiaries in North America (Canada and the United States), Europe, and Asia.
For the three months ending June 2013, 63% of revenue came from Canada, 26% from the United States, and 10% from Europe. Group retirement products (Canadian sales increased by 49%) and 401k markets (U.S. Great West Financial sales increased by 34%) continue to be key areas of growth for the company.
Intact Financial is the largest provider of property and casualty (P&C) insurance in Canada, a global specialty insurance leader, and, together with RSA, a leader in the United Kingdom and Ireland. In Canada, Intact’s subsidiary On Side Restoration, a leading restoration company that restores damaged homes and businesses, provides repair and restoration services. Through the Johnson Affinity Groups, Intact also offers affinity insurance solutions.Intact Financial makes its money in Canada. The Halifax Fire Insurance Association founded Intact Financial in 1809.
Biggest financial companies in Canada make huge contribution for Canada’s economy. If you are looking for good services of finance in this country, consider these top 10 companies.
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