Canada has stable and very well developed banking system and Canadian banks play important role in Canadian economy and society. Canadian banks are amongst the top Canadian employers, employing over 200,000 people. Canadian banks are among the top tax payers too.
Canadian Banks have created widespread financial network consisting of over 8,000 bank branches and over 18,000 ABMs (automated banking machines). Canadian banks offer many electronic services like online banking and debit cards.
The "Big Five" Canadian banks are Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Bank of Montreal. The big five Canadian banks and the Bank of Canada, are frequently called the "Big Six Banks" account for 90% of the assets of the Canadian banking business.
The "big five" Canadian Banks have significant presence outside of Canada most notably in United States, Latin America, the Caribbean region and Asia.
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