Schedule 1 Banks in Canada

Banks in Canada are classified by their ownership as domestic banks, subsidiaries of foreign banks, or branches of foreign banks.

Under the Canada Bank Act, Schedule I are banks that are not a subsidiary of a foreign bank, i.e., domestic banks, even if they have foreign shareholders. There are 29 domestic banks as of February 2014. Because the Schedule I banks are not subsidiaries of any foreign bank, they are the true domestic banks and are the only banks allowed to receive, hold and enforce a special security interest described and provided for under the Bank Act and known to Canadian lawyers and bankers as the “Bank Act security”.

Bank Established Headquarters
B2B Bank 2012 Toronto
Bank of Montreal 1817 Montreal
Bank of Nova Scotia (Scotiabank) 1832 Toronto
Bank West (Desjardins Group) 2002 High River, Alberta
Bridgewater Bank 2006 Calgary
Canadian Imperial Bank of Commerce 1867 Toronto
Canadian Tire Bank 1968 Oakville, Ontario
Canadian Western Bank 1985 Edmonton
Citizens Bank of Canada 1997 Vancouver
CFF Bank 2013 Oakville, Ontario
Continental Bank of Canada 2013 Whitby
CS Alterna Bank 2000 Ottawa
DirectCash Bank 2007 Calgary
Equitable Bank 2013 Toronto
First Nations Bank of Canada 1996 Saskatoon
General Bank of Canada 2005 Edmonton
Hollis Canadian Bank 1998 Toronto
HomEquity Bank 2009 Toronto
ING Bank of Canada 2013 Toronto
Jameson Bank 2008 Toronto
Laurentian Bank of Canada 1846 Montreal
Manulife Bank of Canada 1993 Toronto
National Bank of Canada 1859 Montreal
Pacific & Western Bank of Canada 1980 London, Ontario
President’s Choice Bank 1996 Toronto
RedBrick Bank 2013 Oakville, Ontario
Rogers Bank 2013 Toronto
Royal Bank of Canada (RBC) 1864 Montreal
Toronto-Dominion Bank (TD Canada Trust) 1955 Toronto