Big Five is the name colloquially given to the five biggest banks that dominate the banking industry in Canada. All five banks are operationally headquartered in Toronto, Ontario.
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The Big Five Banks are all classified as Schedule I banks that are domestic banks operating in Canada under government charter. The banks’ shares are widely held, with any entity allowed to hold a maximum of twenty percent.
Canada’s “big five” banks, in order of both assets and market capitalization:
Royal Bank of Canada (RBC)
Toronto-Dominion Bank (TD Canada Trust)
Bank of Nova Scotia (Scotiabank)
Bank of Montreal (BMO)
Canadian Imperial Bank of Commerce (CIBC)