🍁 Canada's Banking & Credit Union Ranking
Canada has 32 domestic federally regulated banks and hundreds of provincially regulated credit unions. The Big Six banks, along with Desjardins—a large federation of credit unions—dominate the sector, holding 93% of total lender assets.
| Bank/Credit Union | Assets ▼ (in millions CA$) | Loans (in millions CA$) | Deposits (in millions CA$) | Securities (in millions CA$) | Provinces |
|---|---|---|---|---|---|
| RBC | $2,242,133 | $1,007,306 | $1,411,176 | $492,497 | All |
| TD | $2,064,274 | $965,385 | $1,490,212 | $529,078 | All |
| BMO | $1,440,269 | $675,704 | $958,266 | $400,024 | All |
| Scotiabank (Inc. Tangerine) | $1,415,465 | $764,213 | $969,490 | $272,592 | All |
| CIBC | $1,090,143 | $571,629 | $764,717 | $269,841 | All |
| National Bank | $536,194 | $285,729 | $387,974 | $168,643 | All (Mainly Quebec) |
| Desjardins * | $487,946 | $296,328 | $309,379 | $105,827 | QC, ON |
| ATB * | $64,188 | $54,316 | $43,332 | $6,578 | AB |
| Equitable Bank (Inc. Concentra) | $54,043 | $46,735 | $34,833 | $2,371 | All |
| Laurentian Bank (Inc. B2B) | $49,518 | $35,455 | $23,874 | $7,940 | All |
| Manulife Bank | $31,172 | $27,483 | $22,410 | $281 | All |
| Fairstone Bank | $31,030 | $28,135 | $21,998 | $930 | All |
| Servus Credit Union † | $29,435 | $24,740 | $24,686 | $3,006 | AB |
| Vancity Credit Union ‡ | $28,360 | $24,566 | $24,869 | $3,338 | BC |
| Meridian Credit Union ‡ | $26,649 | $23,094 | $18,938 | $2,384 | ON |
| Coast Capital Savings | $22,275 | $19,321 | $18,968 | $2,228 | BC |
| First West Credit Union ‡ | $14,263 | $12,499 | $11,802 | $1,184 | BC |
| Access Credit Union ‡ | $13,433 | $11,564 | $11,606 | $139 | MB |
| Steinbach Credit Union ‡ | $10,255 | $9,013 | $9,089 | $75 | MB |
| HomeEquity Bank | $9,545 | $7,332 | $7,519 | $0 | All |
| Beem Credit Union ‡ | $8,405 | $7,163 | $7,509 | $908 | BC |
| Affinity Credit Union ‡ | $8,277 | $6,226 | $7,324 | $1,811 | SK |
| Alterna Savings ‡ | $8,077 | $7,012 | $5,696 | $503 | ON |
| DUCA Financial ‡ | $7,547 | $6,565 | $6,236 | $586 | ON |
| Home Bank | $7,429 | $7,091 | $6,277 | $209 | All |
| Conexus Credit Union ‡ | $7,361 | $6,053 | $6,083 | $846 | SK |
| Prospera Credit Union ‡ | $7,276 | $5,942 | $6,329 | $786 | BC |
| Canadian Tire Bank | $7,165 | $6,455 | $3,469 | $230 | All |
| FirstOntario Credit Union ‡ | $6,586 | $5,906 | $5,522 | $422 | ON |
| Assiniboine Credit Union ‡ | $6,249 | $5,244 | $5,613 | $86 | MB |
| Libro Credit Union ‡ | $6,231 | $5,470 | $5,377 | $580 | ON |
| Winsdsor Family Credit Union Δ | $5,800 | - | - | - | ON |
| PC Bank | $5,729 | $3,900 | $2,067 | $1,283 | All |
| UNI Financial Cooperation | $5,335 | $4,245 | $4,287 | $542 | NB |
| VersaBank | $5,047 | $4,485 | $4,133 | $122 | All |
| Cambrian Credit Union ‡ | $4,988 | $3,830 | $4,559 | $1,124 | MB |
| Innovation Federal CU | $4,364 | $3,674 | $3,629 | $255 | SK |
| Haventree Bank | $3,944 | $3,557 | $3,053 | $76 | All (Mainly ON) |
| General Bank | $3,584 | $3,094 | $3,004 | $23 | All |
| Coastal Community Credit Union | $3,400 | $2,802 | $3,066 | $380 | BC |
| Total | $9,783,384 | $4,979,261 | $6,658,371 | $2,279,728 | - |
Notes: * As of Mar. 31 2025, † As of Jan. 31 2025, ‡ As of Dec. 31 2024, Δ Latest available from website
Sources: OSFI, 80+ Financial Institutions' Annual / Quarterly Reports
Key Insights:
- 🔹 Total Assets: C$10 trillion (domestic + international)
- 🔹 Loans: Total C$5 trillion, with over half in mortgages and HELOCs
- 🔹 Largest Two Banks: RBC and TD hold C$4.3 trillion—43% of total lender assets
- 🔹 Credit Unions: 22 of the 40 listed are credit unions; total assets are under C$0.8T, more than half of which is held by Desjardins
- 🔹 Foreign Banks: Not included in the list; hold just C$32 billion in Canadian assets
Canada’s banking system is Highly Concentrated, underscoring the substantial influence of its largest institutions.
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