Top 5 Best Banks in Montreal [2021] - 1

Top 5 Best Banks in Montreal [2021]

Banks are one’s personal financial institution, which accepts deposits from the people and then further creates a demand deposit, this could in many situations simultaneously make loans or even create a possibility of furthering the initiation of an interest. In most cases, banks are possible the safest way to store one’s money and finances. And it is definitely if one could say, a better way of storing the finances instead of piling cash under the bed.

Canada is considered one of the greatest places to live, it has exceptional residential and living laws. The governance is surprisingly good and it definitely seems to be doing great for its countrymen as well as in world politics and world economy. Amongst everything, what more Canada has is great cities to live in, in which Montreal resides at the list of the top with many others. Some even presume that Montreal could be seen as somewhat the perfect place for anyone to live in peace, perfectly.

Montreal is a city in the Canadian province of Quebec. It is the second-largest populous city. It is a city that is a mixture of modernity with a little touch of the past. It is also famous for its views and landscape, along with the beautiful sights and the harmony of the people.

One of the many perks of Montreal is that it is a melting point of different cultures and various language diversity which resides together in harmony. For many years, Montreal has been attracting both international and domestic students, creating a boost in the economy as well as education.

What more Montreal has are great banking facilities. There are various different categories of Banks in Montreal, which are distinctive from one another. They provide various diversified financial services along with various loan services. They have not only helped people on the personal front but has also caused a boost in the economy of the country in general. They have provided an expansion of economic activity for the well-being of the province as well. Amongst the many reputed banks in Montreal, this article is going to focus on a few to help one understand the basics of the financial services provided by the city.

List of the Best Banks in Montreal:

Amongst the many banks, here is a list of a few of the most popular banks in Montreal that would help you understand the financial services provided by the Banks in Montreal:

1. Bank of Montreal

The bank of Montreal is the first bank that would come to anyone’s mind when they would be thinking about financial services in Montreal. It is a known fact that the bank of Montreal is one of the top investment banks in Canada. It was founded in 1817 in Montreal, Quebec and is originally in french known as Banque de Montréal but has been popularly known as Montreal Bank.

The head office of the bank is in Montreal and since 1977, its operational headquarters, as well as its executive offices, are located in Toronto, Ontario. its head office remains in Montreal, while its operational headquarters and executive offices have been located in Toronto, Ontario since 1977. Even though the Bank of Montreal has had a position amongst the top five banks in Montreal, it offers only a few varied and diversified services to its clients.

In June 1817, John Richard along with his other eight fellow members signed the article of association to start the operation. It has been after which that the Bank of Montreal has become one of the oldest banks in Canada. Along with all such great features the banks are also listed on both Toronto Stock Exchange as well as New York Stock Exchange.

In 1822 the Bank of Montreal officially changed its name to BMO Bank of Montreal. Currently, BMO has about more than nine hundred branches all across and over Canada. It is noted that the investors have also remained secure with the financial services that the bank is currently providing. This has developed itself to be an institution known just by its name and service it provides, its paying is actually dividend to its investors on a regular basis and has actually proved to be a real good investment for any stock investor.

2. National Bank Montreal

It could surely be stated that the National Bank Montreal is one largest banks in Montreal. In fact, if we are being specific, it has been reported that the National Bank Montreal is the sixth-largest bank in Canada.

It was in 1859 when francophone businessmen in Ontario and Quebec were eager to form an establishment under their local control, thus creating this bank by passing a provincial legislature that created the Banque Nationale on May 4, 1859.

The National Bank Montreal has its headquarters in Montreal and currently serves more than 2.4 million customers. They have more than nine hundred ATM machines across Canada and also more than four hundred branches all over Canada apart from Montreal.

The National Bank Montreal had the third position as the World strongest bank in the world in 2011. Not only that but also it offers various different categories of service such as wealth management, personal finance, financial market and even US speciality finance and international.

3. ICICI BANK CANADA

Although originating from Mumbai, India, Asia, the ICICI bank has become one of the prominent banks in Montreal, Canada. It was established in December 2003 and the ICICI Bank Canada is a full-service direct bank and has an asset base of approximately C$6.2 billion and is also a member of the Canada Deposit Insurance Corporation.

ICICI Bank Canada offers a wide range of financial services for its clients, the services provided are more focused on phone-based and internet-based banking. The services provided by the ICICI bank is not just limited to Montreal. It also branches out its services to other provinces such as Calgary, Ontario and British Columbia.

4. TD Bank Canada

TD Bank Canada is one of the most prominent banks in Montreal, Canada. In fact, it is known for its most comprehensive banking systems, which potentially helped it to become one of the most reputed banks in Canada.

The Toronto-Dominion Bank (TD Bank Canada) was merged together from the Bank of Toronto, and The Dominion Bank by its predecessors which were individually established in the mid 19th century. An agreement was reached between them to merge in 1954, which was later accepted by the Canadian Minister of Finance on 1st November 1954 and by 1st February 1955, the merger was officially processed and TD Bank Canada came into being.

It offers various services such as personal finance, business finance and commercial finance. It also has many ATM branches all over Canada and it is the bank to depend on if anyone wants instant banking services, and thus has created and emerged as one of the top banks in Montreal.

5. HSBC Montreal

HSBC Bank Canada was formerly known as the Hongkong Bank of Canada (HBC). It is the Canadian subsidiary of British multinational banking and financial services company HSBC.

It is the seventh-largest bank in Canada. Currently, this Hong-kong based British Multinational bank also provides and operates activities in Montreal. HSBC Montreal offers various banking services to its client, ranging in various scopes and fields.

The HSBC bank has different sub-divisions, such as HSBC Investments (Canada), HSBC Capital (Canada), HSBC Securities (Canada), HSBC Insurance Agency (Canada) and HSBC Trust Company (Canada). With the various services and customer care specific clauses, HSBC has become one of the topmost banks in Montreal.

Each bank is unique in its way and provides various ranges of services that are customer-centric. They in their individual fields are the best banks curated. There is every kind of bank in Montreal which the people can choose for their specific needs. It must be noted that the banks could be helpful and rated on the basis of the clients’ needs and one must only choose to keep in mind their criteria.


This was all information we curated on Best Banks in Montreal, we hope you have found the solution you were looking for, and just in case if you face any issues, kindly do drop by in the comments and we would get back to you ASAP.

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