There are large and small financial institutions in Montreal and Quebec, including branches of major banks, local banks, credit unions, and others. Major financial establishments such as TD Bank Group, RBC, Desjardins, and Scotiabank have branches in Montreal.


The Bank of Montreal is one of the biggest Canadian banks and the 4th largest, with a customer base of over $7 million and over 900 branches. BMO offers standard and specialty financial solutions to business, corporate, and individual customers, including loans (, credit cards, savings and checking accounts, investment solutions, and mortgages. Business customers are offered a wide array of financial products, from commercial credit cards and business accounts to specialized banking, foreign exchange, cash management, commercial mortgages, and a lot more. There are branches of major banks such as CIBC and the National Bank, serving commercial and individual customers in Montreal. CIBC, for example, offers lending solutions and bank accounts as well as insurance and investment products, and business services. Customers are offered business and everyday cards, variable and fixed rate mortgage loans, student and standard lines of credit, retirement planning, and portfolio solutions. The National Bank also has branches in Montreal and offers the full suite of financial services, including high interest savings accounts, credit cards, vehicle financing, consumer loans, mortgages and lines of credit, and more.

Other Lenders

There are other lenders in Quebec and Montreal in particular, including credit unions, payday lenders, credit card companies, car dealerships, and others. Desjardins, for example, offers a selection of custom, specialized, and standard financial solutions such as savings and investment products, wealth management services, car loans and credit cards, and cash and accounts management. Other services include insurance products, trust and international services, payroll and human resources, group plans, and others. There are other credit unions and finance providers in Quebec, including Strathcona Credit Union ( and Sun Life Financial. Strathcona offers investment and savings solutions, credit cards, loans, accounts, and insurance products. Union members benefit from competitive interest rates on different credit solutions and attractive investment vehicles such as RESPs, TFSAs, investment funds, market-linked guaranteed investments, and guaranteed fixed-rate investments. Sun Life Financial also offers a suite of financial solutions, from health and life insurance to investment products such as income annuities, registered income products, education savings, and market-based investment and guaranteed interest savings products. There are payday lenders as well, offering short-term loans to customers in Quebec. While lenders offer loans with higher-than-average interest rates, there is a threshold on the maximum APR in Quebec. The maximum APR finance providers offer is 35 percent. Other services offered include money transfers, cash for silver and gold, electronic bill payment, and check cashing. However, non-traditional providers charge higher service fees than conventional lenders because they serve risky customers. On the other hand, they offer instant financing to clients who are short of cash in case of emergency and to cover unexpected expenses.

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