-
internet banking set up
bank of Montreal's mbanx is the first financial institution to offer Internet banking services https://cba.ca/milestones-in-canadian-banking -
Security Home Mortgage Corporation Bank failures
The failed financial institution was a member of the Canada Deposit Insurance Corporation (CDIC), so customers' qualifying deposits were covered by insurance categories up to $60,000. The insurance was free and automatic, and within three weeks, CDIC paid all insurance deposits.
https://www.cdic.ca/newsroom/articles/bank-failures-in-canada-a-history/ -
Canadian Western Bank purchased Aetna Trust Company.
deposits of the chartered banks increased by $263 million. The principal assets affected were non-residential mortgages. https://en.wikipedia.org/wiki/Canadian_Western_Bank -
Citizens Bank of Canada was formed from Citizens Trust Company
deposits of the chartered banks increased by $548 million. The principal assets affected were residential mortgages. https://en.wikipedia.org/wiki/Citizens_Financial_Group -
ING Trust Company of Canada became a bank (ING Bank of Canada).
deposits of the chartered banks increased by $45 million. https://www.bankofcanada.ca/rates/banking-and-financial-statistics/notes-for-tables-chartered-banks/#:~:text=On%209%20August%201997%2C%20ING,banks%20increased%20by%20%2445%20million. -
the Royal Bank of Canada purchased Connor Clark Private Trust Company
deposits of the chartered banks increased by $921 million. The principal assets affected were residential mortgages. https://www.benefitscanada.com/news/bencan/a-tale-of-two-money-managers/ -
the National Bank of Canada purchased First Marathon Inc.
deposits of the chartered banks increased by $245 million. https://www.wsj.com/articles/SB929633439475989589 -
Canada Trust purchased five Citibank retail branches.
deposits of the chartered banks decreased by $337 million. The principal assets affected were residential mortgages. https://www.bankofcanada.ca/rates/banking-and-financial-statistics/notes-for-tables-chartered-banks/#:~:text=On%2011%20August%201999%2C%20Canada,Canada%20purchased%20First%20Marathon%20Inc. -
TD and Canada Trust merge
Canada Trust's retail division was merged with TD's existing retail banking operations over the course of 2000 to form "TD Canada Trust". deposits of the chartered banks increased by $41.7 billion. The principal assets affected were personal loans. https://en.wikipedia.org/wiki/TD_Canada_Trust#:~:text=Canada%20Trust's%20retail%20division%20was,Trust's%20president%20and%20CEO%2C%20W. -
Laurentian Bank purchased Sun Life Trust.
deposits of the chartered banks increased by $1,783 million. The principal assets affected were residential mortgages. https://www.lexpert.ca/big-deals/laurentian-bank-completes-acquisition-of-sun-life-trust/344170