Astonishing Differences in Residential Loan Market Shares: Ontario vs. Quebec
RBC is the top player nationally — and leads in Ontario — yet it ranks only third in Quebec.
Note: Real Estate Secured Lending (RESL) includes residential mortgages and HELOCs.
Key insights:
- While Ontario’s population is about 75% larger than Quebec’s, its mortgage volume is nearly three times higher, reflecting much higher home prices.
- In Quebec, Desjardins dominates with over one-third of the market, followed by National Bank and RBC in distant 2nd and 3rd places.
- In Ontario, Desjardins holds less than 1% of the market, while RBC leads with nearly a quarter of total residential loans.
Ontario RESL (Residential Mortgages + HELOC) Market Share in Q3 2025
| Institution Name | Total RESL (in $ Millions) | Market Share |
|---|---|---|
| RBC | 246,103 | 23.50% |
| TD | 225,186 | 21.50% |
| Scotiabank | 183,874 | 17.60% |
| CIBC | 165,800 | 15.90% |
| BMO | 107,950 | 10.30% |
| National | 33,174 | 3.20% |
| Equitable | 18,736 | 1.80% |
| Home Trust | 13,518 | 1.30% |
| Meridian Credit Union | 12,488 | 1.20% |
| Manulife Bank | 10,052 | 1.00% |
| Desjardins Caisses | 6,336 | 0.60% |
| Laurentian | 6,125 | 0.60% |
| Alterna Credit Union | 5,266 | 0.50% |
| FirstOntario Credit Union | 4,248 | 0.40% |
| DUCA Credit Union | 4,240 | 0.40% |
| Libro Credit Union | 2,221 | 0.20% |
Quebec RESL (Residential Mortgages + HELOC) Market Share in Q3 2025
| Institution Name | Total RESL (in $ Millions)) | Market Share |
|---|---|---|
| Desjardins Caisses | 138,815 | 37.30% |
| National Bank | 55,695 | 15.00% |
| RBC | 50,293 | 13.50% |
| TD | 34,370 | 9.20% |
| BMO | 31,119 | 8.40% |
| CIBC | 26,100 | 7.00% |
| Scotiabank | 21,611 | 5.80% |
| Laurentian Bank | 5,316 | 1.40% |
| Manulife Bank | 5,107 | 1.40% |
| Equitable Bank | 2,550 | 0.70% |
| Home Trust | 1,111 | 0.30% |
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