Schedule II Banks in Canada are the banks in Canada which are subsidiaries of foreign banks. Schedule II Banks are allowed to accept deposits. Like the Schedule I banks, the Schedule II banks are incorporated under the Bank Act. Some examples of Schedule 2 banks are AMEX Bank of Canada, Citibank Canada, HSBC Bank Canada etc. As of September 2013, there were 24 of these banks in Canada, however 3 were in liquidation.
| Bank | Parent Country |
| AMEX Bank of Canada | USA |
| Bank of America Canada (in voluntary liquidation) | USA |
| Bank of China (Canada) | China |
| Bank of Tokyo-Mitsubishi UFJ (Canada) | Japan |
| Bank One Canada (in voluntary liquidation) | USA |
| BNP Paribas (Canada) | France |
| BofA Canada Bank | USA |
| Citco Bank Canada | USA |
| Citibank Canada | USA |
| CTC Bank of Canada | Taiwan |
| Habib Canadian Bank | Switzerland |
| HSBC Bank Canada | UK |
| ICICI Bank Canada | India |
| Industrial and Commercial Bank of China (Canada) | China |
| J.P. Morgan Bank Canada | USA |
| J.P. Morgan Canada (in liquidation) | USA |
| Korea Exchange Bank of Canada | South Korea |
| Mega International Commercial Bank (Canada) | Taiwan |
| Shinhan Bank Canada | South Korea |
| Société Générale (Canada) | France |
| State Bank of India (Canada) | India |
| Sumitomo Mitsui Banking Corporation of Canada | Japan |
| UBS Bank (Canada) | Switzerland |