All Banks' Assets*: 9 Trillion (September 2024)

Canada's Banking Landscape

Canada has 32 federally regulated banks, with the Big 6 banks dominating the sector and holding 97% of total banking assets.

Key Insights:

• 🔹 Total Assets: C$8.8 trillion, including domestic and international operations.
• 🔹 Loans: C$5.4 trillion (61% of assets) are loans to individuals, businesses, and financial institutions, with C$2.4 trillion specifically in mortgages and HELOCs.
• 🔹 Top Two Banks: RBC and TD combined hold assets of C$4.2 trillion, accounting for 47.5% of all banking assets.
• 🔹 Credit Unions: The list includes 3 federally regulated credit unions. Provincially regulated credit unions are not included, as they are not federally regulated by OSFI. The total assets of provincially regulated credit unions are C$652 billion.
• 🔹 ATB: ATB Financial is owned by the Alberta government and regulated at the provincial level, so it is not included in this list. ATB is unique in Canada because it is neither a bank nor a credit union. As of September 30, 2024, ATB's total assets were $62.3 billion, of which $53.1 billion were loans.
• 🔹 Foreign Banks: Foreign banks operating in Canada are not included in the list. Their assets in Canada, however, are relatively small, totaling just C$30 billion.

Canada’s banking system is highly concentrated, underscoring the substantial influence of its largest institutions.

Provided by WOWA.ca

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