To read this content please select one of the options below:

Canada's leading banks look further afield for growth

Tuesday, February 14, 2023


Canadian banks have weathered the pandemic with less disruption to growth and earnings than originally forecast. Recent acquisitions point to where future strategic growth may be focused, with the largest banks looking to increase their presence in the wider North American market and beyond.


  • One-third of Canadian bank assets were held outside the country last year and this could rise above 40% by late next year.
  • RBC expects to complete its acquisition of 100% of HSBC Canada before the end of 2023, for USD10bn in cash.
  • Once approved, TD’s all-cash acquisition of First Horizon for USD13.4bn will make it the sixth-largest US bank.
  • BMO’s acquisition of Bank of the West from BNP Paribas, completed on February 1, will bring it 1.8 million new customers.

Related articles

Expert Briefings logo