The banking industry includes 22 domestic banks, 26 foreign bank subsidiaries and 23 full-service foreign bank branches and six foreign bank lending branches operating in Canada. In total, these institutions manage close to $3.1 trillion in assets (Source: Office of the Superintendent of Financial Institutions as of December 31, 2010).
As major players in Canada's financial industry, the banks serve millions of customers. They include individuals, small and medium-sized businesses, large corporations, governments, institutional investors and non-profit organizations.
The major domestic banks offer a full range of banking, investment and financial services. They have extensive, nation-wide distribution networks and also are active in the United States, Latin America, the Caribbean, Asia and other parts of the world. Close to half of their earnings are generated outside of Canada.
Many large international banks have a presence here — through a subsidiary, representative office or branch of the parent bank. Most specialize in corporate and investment banking (e.g., niche financing) and have only one or two offices/branches. A notable exception is HSBC Bank Canada, which has a strong retail presence with branches across Canada.
