🍁 Major Lenders’* Credit Card Market Share inside Canada
(Q2 2025 vs Q2 2024)
| Bank | Q2 2024 (in Millions) | Q2 2025 ▼ (in Millions) |
|---|---|---|
| RBC | $23,450 | $25,007 |
| TD | $19,599 | $20,993 |
| CIBC (Average) | $18,642 | $19,694 |
| BMO | $11,656 | $12,164 |
| Desjardins | $10,684.6 | $11,055 |
| Scotiabank (Average, in billions) | $8,900 | $9,200 |
| Canadian Tire's Bank | $6,327 | $6,408 |
| Capital One | $4,209 | $4,010 |
| Presidents Choice Bank | $3,755 | $3,797 |
| National Bank | $2,644 | $2,835 |
| Fairstone Bank of Canada | $2,524 | $2,739 |
| Amex Bank of Canada | $1,009 | $1,121 |
| Rogers Bank | $548 | $807 |
| ATB | $758 | $748 |
| Servus Credit Union | $253 | $265 |
| Laurentian Bank | $197 | $178 |
| Manulife Bank | $72 | $71 |
| Total Balance | $117,085 | $123,087 |
*The lenders included are all OSFI-regulated banks, along with Desjardins, ATB and Servus Credit Union. Other credit unions and fintechs are not included.
•Total Balance represents the total balance of lenders studied. This does not represent the total credit card balance in Canada, and the total credit card balance in Canada is up to 2% higher than the total studied.
•Net Credit Card Balances used for CIBC and Canadian Tire Bank, the rest are gross.
•For Scotiabank, the average credit card balances are as of Mar 31, 2025 and 2024. For Capital One, Fairstone, American Express, Rogers Bank and Servus CU, the balances are as of Jan 31, 2025 and 2024. For Desjardins the balance is as of Dec 31, 2024 and 2023.
Sources: Lenders' Quarterly and Annual Financial Reports, OSFI
🔍 Key Points:
- 🔹 The Big Five banks account for around 71% of the market share.
- 🔹 RBC leads the market with a 20.3% share.
- 🔹 TD and Scotiabank have large international portfolios, excluded here as the chart covers only inside Canadian data.
- 🔹 Desjardins ranks fifth with 9%, supported by its majority stake in Collabria, which issues cards for credit unions such as Coast Capital, First West, Access, and Steinbach.
- 🔹 Canadian Tire holds the largest market share outside the Big Five banks and Desjardins, at 5.2%.
- 🔹 TD, RBC, and Rogers saw a noticeable year-over-year increase in market share.
* Data reflects average daily or end-of-quarter balances.
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