The banking industry includes 29 domestic banks, 24 foreign bank subsidiaries, 27 full-service foreign bank branches and three foreign bank lending branches operating in Canada. (Source: Office of the Superintendent of Financial Institutions as of May 2014).
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.
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.