Banking in Canada is a highly regulated and competitive industry that offers a wide range of financial services to consumers and businesses. The country’s banking system is dominated by the “Big Five” banks: Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova Scotia, Bank of Montreal, and Canadian Imperial Bank of Commerce. These banks provide a range of services such as personal banking, business banking, wealth management, and investment banking. Additionally, there are numerous credit unions and smaller banks that operate in Canada. The Canadian banking system is considered to be one of the most stable and sound in the world due to its strict regulatory framework and conservative banking practices.
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