The 'big five' banks in Canada are the Bank of Montreal (BMO), Canadian Imperial Bank of Commerce (CIBC), Scotiabank, Toronto Dominion (TD Bank), and Royal Bank of Canada (RBC). Sometimes, the term 'big six' is also used to include the National Bank of Canada. All major Canadian banks are among the major employers in Canada, with thousands of employees at home and abroad. In addition, they contribute considerable sums of money for charitable projects.

The Royal Bank of Canada, commonly known as RBC, is the largest provider of financial services in the country. The bank was founded in 1864 in Halifax, Nova Scotia, Canada. Operating under the name of RBC Financial Group, the Royal Bank of Canada has more than sixty thousand officials in its representational offices in Canada and around the world. In addition, RBC Financial group is a full member of Canada's Deposit Insurance Corporation and the Canadian Bankers' Association. The Royal Bank of Canada offers a set of high-quality financial services for individual, corporate, and institutional clients, including checking and savings accounts, consumer loans mortgages and other financing solution, together with investment tools such as mutual funds and guaranteed investment certificates.

The Toronto Dominion Bank, also known as TD bank, is the second largest financial services provider in the country with more than 52,000 officials working in the bank's offices and business centers in Canada and around the world. Just like RBC, TD Bank Financial Group is a registered member of Canada's Deposit Insurance Corporation and the Canadian Bankers' Association. TD Bank Financial Group came into being following the 1955 merger of the Bank of Toronto (founded in 1856) and the Dominion Bank (established in 1871). Toronto Dominion Bank and its subsidiaries have developed business activities in four main directions: Canadian Personal and Commercial Banking (TD Canada Trust, TD Commercial Banking), Wealth Management (TD Waterhouse, TD Asset Management), Wholesale Bank (TD Securities), and U.S. Personal and Commercial Banking (TD Banknorth).

Established in 1832, the Bank of Nova Scotia, commonly known as Scotiabank, offers to its individual and corporate clients a wide range of financial and banking services such as everyday banking services, together with an online banking service, international financial assistance, investment advisory services, mergers and acquisitions supervision, and advisory, among others. Notably, the Bank of Nova Scotia has a strong presence abroad and especially in the Caribbean region.

The Canadian Imperial Bank of Commerce, commonly referred to as CIBC, was the first Canadian bank to introduce the Automated Teller Machine in the country. Founded back in 1867, CIBC has more than 42,000 officials and it is publicly traded at the stock exchanges in Toronto and New York City under the ticker CM.

Established in 1817, the Bank of Montreal, nowadays operating under the cap of BMO Financial Group, is the oldest bank in the country. The range of BMO's financial services encompasses retail and wholesale banking, capital market services, wealth management and investment advisory, personal investment tools, mergers and acquisitions supervision, etc.

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