Summary
Banks in Canada industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2019-24, and forecast to 2029). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- Banking industry involves the activities of banks and similar institutions that offer financial services such as savings, loans, mortgages, and related services to businesses and consumers. Market value represents the total assets held by banks or related institutions in a country in a year. The market share represents the total asset held by the companies in the specific year. Geographical segmentation measures the total assets held by commercial banks of a particular region.
- The Canadian banking industry recorded assets of $6,931.7 billion in 2024, representing a compound annual growth rate (CAGR) of 7.9% between 2019 and 2024.
- The bank credit segment accounted for the industry's largest proportion in 2024, with total assets of $2,886.6 billion, equivalent to 41.6% of the industry's overall value.
- The Canadian banking industry grew by 8.1% in 2024, primarily driven by the decline in bank lending rates, which reduces borrowing costs and encourages greater credit uptake. Lower lending rates stimulate demand for personal and business loans, leading to an expansion in the bank credit segment, which directly increases the total assets held by banks. According to the Bank of Canada, the bank lending rate in Canada was reduced to 5.4% in December 2024, down from 7.2% in December 2023, facilitating broader access to credit.
Scope
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the banks market in Canada
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the banks market in Canada
- Leading company profiles reveal details of key banks market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Canada banks market with five year forecasts by both value and volume
Reasons to Buy
- What was the size of the Canada banks market by value in 2024?
- What will be the size of the Canada banks market in 2029?
- What factors are affecting the strength of competition in the Canada banks market?
- How has the market performed over the last five years?
- Who are the top competitors in Canada's banks market?
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Table of Contents
1 Executive Summary
1.1. Market value
1.2. Market value forecast
1.3. Category segmentation
1.4. Geography segmentation
1.5. Market share
1.6. Market rivalry
1.7. Competitive landscape
2 Market Overview
2.1. Market definition
2.2. Market analysis
3 Market Data
3.1. Market value
4 Market Segmentation
4.1. Category segmentation
4.2. Geography segmentation
5 Market Outlook
5.1. Market value forecast
6 Five Forces Analysis
6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry
7 Competitive Landscape
7.1. Market share
7.2. Who are the leading players?
7.3. What are the strategies of the leading players?
7.4. What have been the recent M&A activities?
8 Company Profiles
8.1. Royal Bank of Canada
8.2. The Bank of Nova Scotia
8.3. Bank of Montreal
8.4. Canadian Imperial Bank of Commerce
9 Macroeconomic Indicators
9.1. Country data
10 Appendix
10.1. Methodology
10.2. Industry associations
10.3. Related MarketLine research
10.4. About MarketLine
List of Tables
Table 1: Canada banks industry value: $ billion, 2019-24
Table 2: Canada banks industry category segmentation: % share, by value, 2019-24
Table 3: Canada banks industry category segmentation: $ billion, 2019-24
Table 4: Canada banks industry geography segmentation: $ billion, 2024
Table 5: Canada banks industry value forecast: $ billion, 2024-29
Table 6: Canada banks industry share: % share, by value, 2024
Table 7: Royal Bank of Canada: Key Facts
Table 8: Royal Bank of Canada: Annual Financial Ratios
Table 9: Royal Bank of Canada: Key Employees
Table 10: The Bank of Nova Scotia: Key Facts
Table 11: The Bank of Nova Scotia: Annual Financial Ratios
Table 12: The Bank of Nova Scotia: Key Employees
Table 13: The Bank of Nova Scotia: Key Employees Continued
Table 14: Bank of Montreal: Key Facts
Table 15: Bank of Montreal: Annual Financial Ratios
Table 16: Bank of Montreal: Key Employees
Table 17: Canadian Imperial Bank of Commerce: Key Facts
Table 18: Canadian Imperial Bank of Commerce: Annual Financial Ratios
Table 19: Canadian Imperial Bank of Commerce: Key Employees
Table 20: Canada Size of Population (Million), 2020-24
Table 21: Canada Real GDP (Constant 2010 Prices, $ Billion), 2020-24
Table 22: Canada GDP (Current Prices, $ Billion), 2020-24
Table 23: Canada Inflation, 2020-24
Table 24: Canada Consumer Price Index (Absolute), 2020-24
Table 25: Canada Exchange Rate, 2019-24
List of Figures
Figure 1: Canada banks industry value: $ billion, 2019-24
Figure 2: Canada banks industry category segmentation: $ billion, 2019-24
Figure 3: Canada banks industry geography segmentation: % share, by value, 2024
Figure 4: Canada banks industry value forecast: $ billion, 2024-29
Figure 5: Forces driving competition in the banks industry in Canada, 2024
Figure 6: Drivers of buyer power in the banks industry in Canada, 2024
Figure 7: Drivers of supplier power in the banks industry in Canada, 2024
Figure 8: Factors influencing the likelihood of new entrants in the banks industry in Canada, 2024
Figure 9: Factors influencing the threat of substitutes in the banks industry in Canada, 2024
Figure 10: Drivers of degree of rivalry in the banks industry in Canada, 2024
Figure 11: Canada banks industry share: % share, by value, 2024
