Top 9 Largest Financial Service Companies in Canada
The financial service companies play a significant role in Canada's economy, contributing to its overall vitality. Banks, insurance firms, and other financial ... read more...services providers guarantee accurate financial data as well as smooth capital transfers, payments, investments, and credit. Here are some of the Largest Financial Service Companies in Canada.
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According to market capitalization, Royal Bank of Canada is the biggest bank in Canada and an international provider of financial services. With more than 89,000 employees worldwide, the bank serves more than 17 million customers. It was established in Halifax, Nova Scotia, in 1864, and now has offices in both Toronto and Montreal. The institution ID for RBC is 003. RBC was included on the Financial Stability Board's list of internationally significant banks in November 2017.
With 1,209 branches across Canada, the bank's personal and business banking divisions are known as RBC Royal Bank in English and RBC Banque Royale in French, and they provide services to about 10 million customers.The market capitalization of Royal Bank of Canada was $136.10 billion as of April 2023. By market cap, this places Royal Bank of Canada as the 89th most valuable corporation in the world. The most recent financial reports from Royal Bank of Canada show that the company's current revenue (TTM) is $38.54 billion. The company's revenue dropped from $39.67 billion in 2021 to $37.5 billion in 2022.
Founded: 1864
Headquarters: Montreal, Quebec, CanadaToronto, Ontario, Canada
Website: rbc.com -
Located in Toronto, Ontario, Toronto-Dominion Bank is a multinational Canadian banking and financial services company. The bank and its affiliates trade as Toronto-Dominion Bank and are frequently referred to as simply "TD." The Bank of Toronto and the Dominion Bank, which had been established in 1855 and 1869, respectively, were merged to form the new institution on February 1, 1955. One of the two Big Five Canadian banks, along with the Canadian Imperial Bank of Commerce, was established in Toronto. The TD institution number is 004 and the TD Bank SWIFT code is TDOMCATTTOR.
The TD Bank Group was a top-10 bank in North America in 2021, the 23rd largest bank in the world, and the largest bank in Canada by total assets as well as market capitalization, according to Standard & Poor's. [5] The Financial Stability Board designated it a globally systemically important bank in 2019.The market capitalization of Toronto Dominion Bank as of April 2023 is $113.22 billion. Toronto Dominion Bank is now the 120th most valuable firm in the world according to market capitalization. The most recent financial reports from Toronto Dominion Bank show that the company's current revenue (TTM) is $36.14 billion. The corporation generated $35.17 billion in revenue in 2022, up from $33.86 billion in revenue in 2021.
Founded: February 1, 1955
Headquarters: Toronto-Dominion Centre, Toronto, Ontario, Canada
Website: www.td.com -
As an international investment bank and provider of financial services, The Bank of Montreal is based in Canada. While the bank's head office is still in Montreal, where it was established in 1817 as Montreal Bank, its operational headquarters and executive offices have been there since 1977.
It is one of Canada's Big Five banks, the third-largest bank in terms of market capitalization and assets, one of the eight biggest in North America, and among the top 50 banks globally. On the Toronto Stock Exchange and the New York Stock Exchange, it is generally known by the ticker symbol "BMO." It managed assets worth $634 billion as of October 2021. (AUA). BOFMCAM2 is the Bank of Montreal's Swift code, while 001 is its institution number.
The market capitalization of Bank of Montreal was $64.43 billion as of April 2023. By market cap, this places Bank of Montreal as the 231st most valuable firm in the world. The most recent financial reports from Bank of Montreal indicate that the company's current revenue (TTM) is $20.91 billion. The company generated $20.20 billion in revenue in 2022, which is a decline from $21.77 billion in revenue in 2021.
Founded: 23 June 1817
Headquarters: Bank of Montreal Head Office, Montreal, Quebec, Canada
Website: bmo.com -
A worldwide banking and financial services company, Canadian Imperial Bank of Commerce is based in Toronto, Ontario's Financial District, at CIBC Square. The largest merger of licensed banks in Canadian history took place in 1961 when the Canadian Bank of Commerce (established in 1867) and the Imperial Bank of Canada (founded in 1873) merged to form the Canadian Imperial Bank of Commerce. One of two "Big Five" banks—the other being Toronto-Dominion Bank—that were formed in Toronto.
The bank is divided into four strategic business units: Capital Markets, U.S. Commercial Banking and Wealth Management, Canadian Personal and Business Banking, and Canadian Commercial Banking and Wealth Management.CIBC's market capitalization as of April 2023 is $39.33 billion. By market cap, this places CIBC as the 444th most valuable corporation in the world. The most recent financial reports from CIBC indicate that the company's current revenue (TTM) is $16.87 billion. The company generated $16.74 billion in revenue in 2022, an increase from $15.99 billion in revenue in 2021.
Founded: June 1, 1961
Headquarters: Toronto, Ontario, Canada
Website: cibc.com -
Manulife Financial Company, a worldwide Canadian insurance firm and provider of financial services, is based in Toronto, Ontario. The business is known as "Manulife" in Canada and Asia, and it predominantly uses its John Hancock Financial branch to conduct business in the US. As of December 2021, the company had CA$1.4 trillion in assets under management and administration, employed about 38,000 people, and had 119,000 agents under contract. Around 26 million consumers were served by Manulife at one time.
Based on global institutional assets under management, Manulife is the 28th largest fund manager and the largest insurance firm in Canada (AUM). Totally owned by Manulife, Manulife Bank of Canada is a division of Manulife.Manulife Financial's market cap was $34.76 billion as of April 2023. Manulife Financial is now ranked as the 515th most valuable company in the world by market valuation. The most recent financial reports from Manulife Financial indicate that the company's current revenue (TTM) is $10.88 Billion. The company generated $47.48 billion in revenue in 2021 compared to $57.03 billion in revenue in 2020.
Founded: June 23, 1887
Headquarters: 200 Bloor Street EastToronto, Ontario
Website: www.manulife.com -
A Canadian provider of financial services is Sun Life Financial Inc. It is most recognized for being a life insurance provider. With more than CAD 1.3 trillion in assets under administration and operations in several nations, Sun Life has a foothold in the investment management industry.
As of 2020, it managed assets worth more than $125 billion. On the Forbes Global 2000 list for 2022, Sun Life is ranked number 235. Sun Life's Sun Life Investment Management unit changed its name to SLC Management in June 2019, and its fixed income companies Ryan Laboratories Asset Management Inc. and Prime Advisors, Inc. entirely merged with Sun Life Capital Management (U.S.)Sun Life Financial's market capitalization as of April 2023 is $27.94 billion. By market cap, Sun Life Financial is now the 635th most valuable company in the world. The most recent financial reports from Sun Life Financial indicate that the company's current revenue (TTM) is $17.17 billion. The company's revenue in 2021 was $28.29 billion, down from $32.31 billion in revenue in 2020.
Founded: 1865
Headquarters: Toronto, Ontario
Website: sunlife.com -
A provider of financial services in Canada, TMX Group Limited runs exchanges for the energy, fixed income, and derivatives markets. The organization offers the global financial community services such as listing, trading, clearing, settling, and depository facilities; information services; and technological services. The Toronto-based TMX Group has offices across Canada (Montreal, Calgary, and Vancouver), in significant U.S. cities (New York City, Houston, Boston, and Chicago), as well as abroad (London, Beijing, Singapore, and Sydney).
The market capitalization of TMX Group as of April 2023 is $5.73 billion. TMX Group is now the 2183rd-most valuable company in the world according to market valuation. The most recent financial reports for TMX Group indicate that the company's current revenue (TTM) is $0.85 billion. The company generated $0.77 billion in revenue in 2021, an increase from $0.64 billion in revenue in 2020.
Founded: 1 May 2008
Headquarters: Toronto, Ontario, Canada
Website: money.tmx.com -
One of the biggest insurance and wealth management companies in Canada, iA Financial Group also has operations in the US. It is one of Canada's largest publicly traded firms. iA Financial Company Inc., the parent company, is a portfolio management firm that is traded on the Toronto Stock Exchange under the ticker code IAG (common shares). The Toronto Stock Exchange lists the preferred shares of its subsidiary, Industrial Alliance Insurance and Financial Services Inc., under the ticker IAF.
The market capitalization for iA Finance as of April 2023 is $6.79 billion. By market cap, this places iA Finance as the 1926th most valuable firm in the entire world. The most recent financial reports from iA Financial show that the company's current revenue (TTM) is $4.82 billion. The company's revenue in 2021 was $12.28 billion, down from $13.19 billion in revenue in 2020.
Founded: 1892
Headquarters: 1080 Grande Allée OuestQuebec City, QuebecG1K 7M3, CanadWebsite: ia.ca
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One of two organizations, along with TransUnion Canada, that offer credit bureau and information reports to businesses, especially in the financial sector, is Quifax Canada Inc. Equifax Canada is headquartered in Toronto, Ontario, and is owned by Equifax of Atlanta, Georgia. By law, all credit reporting companies must make it possible for Quebecers to examine their credit reports and scores online without paying a fee. Equifax Canada went above and beyond to make this access available to all Canadians.
Equifax's market capitalization as of April 2023 is $25.07 billion. Equifax is now the 698th-most valuable corporation in the world according to market value. The most recent financial reports from Equifax indicate that the company's current revenue (TTM) is $5.12 billion. The company generated $4.92 billion in revenue in 2021, up from $4.12 billion in 2020.
Founded: 1899
Headquarters: Toronto, Ontario, Canada
Website: https://www.consumer.equifax.ca/personal/