Complete List of Canadian and Foreign Banks Main Offices Working in Canada
Banks play a key role in Canada’s financial system and economic development. The banking industry includes 13 domestic banks, 34 foreign bank subsidiaries and 11 foreign bank branches regulated by CIBC operating in Canada. In total, these institutions manage over $1.6 trillion in assets. Moreover, in the banking industry there are federally regulated deposit-taking institutions working in the Canada are trust companies (Royal Trust), loan companies (Scotia Mortgage Corporation) and cooperative credit associations (Credit Union Central of Alberta). Note that most trust and loan companies are in fact owned by or affiliated very closely with the so-called “Big 5” major banks.
In addition, there are over 600 affiliated credit unions and caisses populaires in Canada, who collectively manage $69 billion and have 1,800 locations and 4.6 million members as of the first quarter of 2003. There are also an estimated 5,000 plus mortgage brokers doing business in Canada.
As the figures above shown, there are in fact literally thousands of options when it comes to borrowing money. As a borrower and a consumer you have an ideal and a competative market to shop around for your need and with so many options out there, how can you possibly know where to start without getting lost along the way? This is where eLoanCanada! an informed choice about which loan is best suited for you!
Banks registered to do business in Canada (under the previous regulatory framework)