Schedule 3 Banks in Canada

Schedule III Banks are foreign banks which operate their branches in Canada. Thus, these are foreign banks permitted to carry on business in Canada. Examples include Bank of America, Capital One, Credit Suisse and Deutsche Bank AG. Unlike the Schedule I and Schedule II banks, the Schedule III banks are NOT incorporated under the Bank Act and they operate in Canada, usually within the country’s largest cities (being Toronto, Montreal, Calgary and Vancouver), under certain restrictions mentioned in the Bank Act.

Full Service Branches of Foreign Banks
As of September 2013, there were 24 such banks in Canada.

Bank Parent Country
Bank of America, National Association  USA
Bank of New York Mellon (The)  USA
Barclays Bank PLC (Canada Branch)  UK
Capital One Bank (Canada Branch)  USA
Citibank, N.A.  USA
Comerica Bank  USA
Deutsche Bank AG  Germany
Dexia Crédit Local S.A.  France Belgium
Fifth Third Bank  USA
First Commercial Bank  Taiwan
HSBC Bank USA, National Association  USA
JPMorgan Chase Bank, National Association  USA
M&T Bank  USA
Maple Bank  Germany
Mizuho Corporate Bank, Ltd., Canada Branch  Japan
Northern Trust Company, Canada Branch (The)  USA
Rabobank Nederland  Netherlands
Royal Bank of Scotland N.V.  UK
Société Générale (Canada Branch)  France
State Street  USA
U.S. Bank National Association  USA
UBS AG Canada Branch   Switzerland
United Overseas Bank Limited  Singapore
Wells Fargo Bank, National Association, Canadian Branch  USA

Lending Only Branches of Foreign Banks
There were 4 such banks in Canada in September, 2013.

Bank Parent Country
Credit Suisse, Toronto Branch  Switzerland
Merrill Lynch International Bank Limited  USA
PNC Bank Canada  USA
Union Bank of California, N.A.  USA

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