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Learn more about the role of Canada’s banks in fostering economic resilience, contributing to employment, and supporting Canadians in their financial well-being
FEATURED ARTICLE
The benefits of banking in Canada: accessibility, affordability, and choice
Canada's banking sector is an essential contributor to the country's economic growth and well-being. Strong, sound banks help families buy a home and save for retirement, help small businesses grow and thrive, and help drive the broader economy.
Banks and their subsidiaries employ close to 300,000 Canadians and paid an estimated $35 billion in salaries and benefits in 2023. Canada's six largest banks paid close to $16 billion in taxes to all levels of government in 2025, and provided more than $31 billion in dividend income to millions of Canadians. Altogether, the banking sector contributes approximately $77 billion to Canada's GDP.
Banks support communities from coast to coast. Click on your province or territory in the map to explore how Canada's banking sector contributes to local economies across the country.