CANADIENBANKING.COM

There are more than 80 banks regulated in Canada. Notwitstanding this, the industry operates like an oligopoly, with 5 banks accounting for more than 80% of the market share, the rest taken up by smaller banks and local branches of foreign banks. The industry contributes approximately 3-4% to Canada's GDP (2016). It employed 275,450 Canadians, and another 119,885 outside Canada