Canadian Banks – Bigger Than You Know

2
2 years agoOpen For Voting

Canadian banks are some of the biggest banks operating in the U.S. and the Western Hemisphere, including TD, which is in the Top 10 U.S. banks following a string of acquisitions, BMO (in the top 20 with BMO Harris and its pending acquisition of Bank of the West), and Royal Bank. Some forays, CIBC in particular has had mixed success in the U.S. market (formerly owning investment bank Oppenheimer) have not been that successful whereas others have been very successful. Scotiabank is one of the largest banks in Latin America and the Caribbean, and many of themhave niche operations in financing in London and other financial centres. And of course the ‘Big Six’ Canadian banks dominate Canada’s financial sector. There have also been a number of recent Canadian acquisitions in the U.S. (e.g. BMO and RBC) and a significant divestment (TD’s sale of Ameritrade to Charles Schwab). Even the smallest of the Big Six, National Bank of Canada, has some U.S. operations (e.g in Florida as Natbank).