The Canadian Bankers Association published a statement on the presence of U.S. banks in Canada, describing the sector as strong and competitive and quantifying the U.S. footprint. It reported that 16 U.S.-based bank subsidiaries and branches operate in Canada with around CAD 113 billion in assets, and that U.S. banks account for about half of all foreign bank assets in Canada. The statement notes that these banks provide services spanning corporate and commercial lending, treasury services, credit card products, investment banking and mortgage financing, serving both cross-border clients and Canada’s domestic retail market. It also provided a list of the U.S. banks operating in Canada, including Amex Bank, Citibank, J.P. Morgan Chase Bank, Bank of America, State Street Bank and Trust Company and Wells Fargo Bank, National Association.
Canadian Bankers Association 2025-03-04
Canadian Bankers Association highlights 16 U.S. banks operating in Canada with around CAD 113 billion in assets
The Canadian Bankers Association reported that 16 U.S.-based bank subsidiaries and branches operate in Canada, holding approximately CAD 113 billion in assets and accounting for about half of all foreign bank assets in the country. These banks offer a range of services, including corporate and commercial lending, treasury services, credit card products, investment banking, and mortgage financing.