🍁 Canada Financial Institutions Deposit Portfolio Market Share (Q2 2025): Big 6 Banks + Desjardins collectively hold over 93% of the market.
Global Deposits of Major Canadian Lenders (Q2 2025) with Assets Over $1 Billion
| Bank | Deposits (Global) Billions | Share |
|---|---|---|
| TD | $1490.2 | 22.3% |
| RBC | $1411.2 | 21.1% |
| Scotiabank (Inc. Tangerine) | $969.5 | 14.5% |
| BMO | $958.3 | 14.3% |
| CIBC | $764.7 | 11.4% |
| National Bank | $388.0 | 5.8% |
| Desjardins1 | $309.4 | 4.6% |
| ATB1 | $43.3 | 0.6% |
| Equitable Bank (Inc. Concentra) | $34.8 | 0.5% |
| Vancity2 | $24.9 | 0.4% |
| Servus Credit Union2 | $24.7 | 0.4% |
| Laurentian Bank (Inc. B2B) | $23.9 | 0.4% |
| Manulife Bank | $22.4 | 0.3% |
| Fairstone Bank | $22.0 | 0.3% |
| Coast Capital Savings2 | $19.0 | 0.3% |
| Meridian Credit Union2 | $18.9 | 0.3% |
1. Deposits as of Mar 31, 2025
2. Deposits as of Dec 31, 2024
Note: Loans exclude securities. Percentages may not sum to 100% due to rounding.
Sources: Lenders' Quarterly and Annual Financial Reports, OSFI
📌 Key Insights:
- 1️⃣ Total Deposits:
Total deposits across banks and credit unions (with total assets over $1 billion) amount to $6.7 trillion as of Q2 2025. - 2️⃣ Geographical Breakdown:
- $4.97 trillion (74%) in Canada.
- $1.27 trillion (19%) in the U.S.
- $0.45 trillion (7%) outside North America
- 3️⃣ Beyond the Big 6 Banks and Desjardins:
After the Big 6 banks and Desjardins, the next largest institutions by deposits are: ATB, Equitable Bank, Vancity Credit Union, Servus Credit Union, and Laurentian Bank (ranks 8–12). - 4️⃣ Loan-to-Deposit Ratio (Top 20):
- Among the Big 6, the loan-to-deposit ratio ranges from 65% (TD) to 79% (Scotiabank).
- For institutions ranked 7 to 20, the loan-to-deposit ratio is generally at or above 100%, reflecting tighter liquidity. Laurentian Bank recorded the highest ratio among the top 20, at 149%.
📊 Despite better rates and comparable deposit insurance from smaller institutions, Canadians remain loyal to the Big 6 — driven more by habit than informed choice. Also physical branch access remains a key factor shaping this preference.
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