Tuesday, November 8, 2011

Top 5 Canadian Banks

By Brenda Carr


When a person is looking for banks that have an extensive history and growth record in Canada, they need look no further than the big five Canadian Banks. These banks have maintain excellent records for customer service both in the local community and globally. As the needs of clients and customers have changed, each bank has been an integral part of incorporating the change in the banking industry.

The RBC, Royal Bank of Canada has maintain a rank of 100 on the Forbes Global 2000 list for several years. This is the largest company and bank in Canada and has continued to focus on the needs of the individuals that they serve. A person who is thinking about starting a business will find that, in addition to banking services, RBC also offers extensive training modules and materials for the entrepreneur to help them begin a forceful and dynamic business. In addition, the representatives are able to provide options for establishing lines of credit or loans that will provide the lowest interest and greatest return for investors.

RBC offers a wide range of services that include provision of insurance products. An individual can easily assure repayment of a loan with the addition of loan insurance. Travel and home owners insurance are also offered to customers of the bank. In addition, a wealth management division gives an individual the opportunity to access financial advisors who are well trained and adept at matching customer needs with the best investment and savings opportunities available.

The Toronto-Dominion (TD) Bank Financial Group is the 2nd largest bank in Canada with a main office in Toronto. They serve over 14 million customers throughout the world and have four distinct divisions to make it much easier for consumers to find the services they need quickly. This is one of the banks that is traded on both the Toronto and New York Stock Exchange and maintains solid returns for investors.

As one of the world's premier online financial service providers, TD current has over 6 million clients that conduct the majority of their banking online. As technological advances and abilities have occurred, TD has adapted their practices to meet the needs of busy clients who are often traveling. In addition to the online banking, TD also offers a wide range of flexible financing options to companies, individuals, and commercial clients that is highly competitive. It is one of the largest direct-response providers of home and auto insurance in the country.

Ranking 3rd among the big five is the Bank of Nova Scotia, or Scotia Bank. With a main office in Toronto, this bank provides a strong banking presence in the Caribbean, Asia, and Latin America. There are three main divisions or lines of business making up the infrastructure of this bank.

With over 7 million retail and corporate customers in 40 countries, Scotia Bank has a large Investment and Capital Market Branch that serves corporate, government, and institutional clients. In addition, the bank provides private wealth management assistance to private and financial individuals who must maintain growth on the global market.

CIBC, the Canadian Imperial Bank of Commerce focuses on the needs of Canadians, Americans, Asians and clients in the Caribbean. Best known for introducing ATMs to Canada, the bank has continually maintained a parallel pace with technological advances. Individuals working with the bank find that the attention to maintaining competitive interest rates makes them ideal when searching for the most aggressive loan structure. The bank also provides extremely competitive insurance products and has embarked on mobile banking that allows customers to conduct business from any location.

The Bank of Montreal is one of the oldest banks in Canada and holds 5th place with the big five banks. Throughout it's history, the bank that was established in 1817 has grown, adapted, and worked diligently to maintain it's position as a dynamic part of the local and global community. The BMO-Nesbitt Burns division offers wealth management services to corporation, small businesses, and individuals on an ongoing basis. This division provides information and details on the programs that are available to build a thriving business or reach financial goals and objectives in the future.

The other three divisions of BMO are the BMO Financial Group that provides personal and commercial banking to individuals and businesses. They also offer several loan repayment structures and advisors to provide important details and information about meeting objectives for revenue return. The Capital Markets division works closely with clients to establish investment strategies and goals that will provide the desired results with minimum risk to investors.




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