The Canadian Bankers Association published a statement describing the footprint of U.S.-based banks operating in Canada and their role in the country’s competitive banking sector. The statement estimates that 16 U.S. bank subsidiaries and branches operate in Canada with around CAD 113 billion in assets, offering services spanning corporate and commercial lending, treasury services, credit cards, investment banking and mortgage financing. It notes these banks serve both cross-border customers and Canada’s domestic retail market, and that U.S. banks now represent about half of all foreign bank assets in Canada; the release also lists the 16 U.S. banks operating in Canada.
Canadian Bankers Association 2025-03-04
Canadian Bankers Association outlines scale of U.S. banks in Canada with 16 institutions holding about CAD 113 billion in assets
The Canadian Bankers Association reported that 16 U.S. bank subsidiaries and branches operate in Canada, holding approximately CAD 113 billion in assets. These banks provide a range of services, including corporate lending and investment banking, and account for about half of all foreign bank assets in Canada.