Big Five Banks


DEFINITION of 'Big Five Banks'

A reference used in Canada to describe Royal Bank, The Bank of Montreal, Canadian Imperial Bank of Commerce, The Bank of Nova Scotia and TD Canada Trust, which are the five largest banks in the country.

BREAKING DOWN 'Big Five Banks'

Occasionally the term "Big Six Banks" is used, with the sixth bank referring to the National Bank of Canada. As of March 2008, the Big Six Banks and Laurentian Bank of Canada are the largest banks in Canada.

  1. One-Stop Shop

    A company or a location that offers a multitude of services to ...
  2. Commercial Bank

    A financial institution that provides services, such as accepting ...
  3. Online Banking

    The performance of banking activities via the Internet. Online ...
  4. Bank

    A financial institution licensed as a receiver of deposits. There ...
  5. Retail Banking

    Typical mass-market banking in which individual customers use ...
  6. Private Banking

    Personalized financial and banking services that are traditionally ...
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