Canada's largest mortgage lenders by market share
In Aug 2026, Canada's banks held $1.97T in residential mortgages. The six largest held 93% of it, and Royal Bank of Canada alone held 26.1%.
These figures come from the balance sheets banks file with the Office of the Superintendent of Financial Institutions (OSFI). They show who holds the most mortgage debt, not who offers the best rate.
| # | Bank | Residential mortgages | Market share | Share insured | 1-year change |
|---|---|---|---|---|---|
| 1 | Royal Bank of Canada | $515B | 26.1% | 17.5% | +5.2% |
| 2 | The Bank of Nova Scotia | $365B | 18.5% | 20% | +1.2% |
| 3 | The Toronto-Dominion Bank | $342B | 17.3% | 28.3% | −6.0% |
| 4 | Canadian Imperial Bank of Commerce | $290B | 14.7% | 15.3% | +1.3% |
| 5 | Bank of Montreal | $197B | 10% | 20.1% | +1.3% |
| 6 | National Bank of Canada | $124B | 6.3% | 43.2% | +10.8% |
| 7 | Equitable Bank | $36.3B | 1.8% | 35.6% | −5.2% |
| 8 | Fairstone Bank of Canada | $19.4B | 1% | 14.5% | +1.6% |
| 9 | Laurentian Bank of Canada | $19.1B | 1% | 70.2% | −2.6% |
| 10 | Coast Capital Savings Federal Credit Union | $18.1B | 0.9% | 15.4% | +32.3% |
| 11 | Manulife Bank of Canada | $7.6B | 0.4% | 91.3% | +16.3% |
| 12 | Tru Cooperative Bank | $7.34B | 0.4% | 34.8% | — |
| 13 | Questbank | $6.45B | 0.3% | 0% | — |
| 14 | B2B Bank | $5.68B | 0.3% | 29.7% | −3.2% |
| 15 | Home Bank | $5.59B | 0.3% | 0% | −9.8% |
| All banks (42 reporting) | $1.97T | 100% | 22.5% | +2.3% |
Insured and uninsured residential mortgages, net of allowances for expected credit losses, on each bank's consolidated balance sheet. Excludes reverse mortgages.
How concentrated is the market?
The six largest banks hold 93% of bank residential mortgages. The next largest, Equitable Bank, holds 1.8%. Over the past year, bank residential mortgage balances changed by 2.3%.
Insured and uninsured mortgages
22.5% of bank residential mortgages are insured against default; the rest are uninsured.
Mortgage default insurance is required when the down payment is under 20%. Some lenders also insure low-ratio mortgages in bulk, so insured balances include more than high-ratio loans.
What this data covers
- Banks regulated by OSFI only. Credit unions, caisses populaires such as Desjardins, trust and loan companies, mortgage finance companies and private lenders aren't included.
- Balances on each bank's consolidated balance sheet, including subsidiaries and mortgages outside Canada. That's why the total is higher than the Bank of Canada's figure for chartered banks' Canadian mortgages.
- Balances outstanding at month-end, not new lending during the month.
- Amounts are net of allowances for expected credit losses. Reverse mortgages are reported separately and aren't counted in market share.
- Banks file on different schedules. We show the most recent month that at least 90% of the banks have reported.
Source and licence
Source: Office of the Superintendent of Financial Institutions, Banks: M4 consolidated balance sheet, through the Open Government Portal. Contains information licensed under the Open Government Licence – Canada.
Use and cite this data
Download the figures on this page, with reference dates and sources: CSV · JSON
Suggested citation:
Canada Housing Market Data, "Canadian banks ranked by residential mortgages", based on Office of the Superintendent of Financial Institutions data, updated 2026-11-14. https://canadahousingmarketdata.ca/mortgage-lenders-canada
Underlying data © the original publishers, reused under their open licences with attribution. Please credit both the original source and this site.
Sources
- Financial Consumer Agency of Canada
- Office of the Superintendent of Financial Institutions
- Bank of Canada
Rules are summarized in our own words from official publications. Check the source and talk to your lender or a licensed professional before making a decision.
Informational only, not financial advice. Data as of the release snapshot generated 2026-11-14.