Big Six banks
The Big Six banks are the six largest banks in Canada that dominate the domestic banking industry. The Canadian banking industry changed in the 1980s and the Big Six banks are today classified under the Schedule I category.Schedule I banks are domestic banks that operate in Canada under government charter. The banks are widely held with no single shareholder controlling the bank. The Big Six banks are:
- Bank of Montreal
- The Bank of Nova Scotia
- CIBC (formerly Canadian Imperial Bank of Commerce)
- National Bank of Canada
- Royal Bank of Canada
- Toronto-Dominion Bank
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