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Simplii Financial is a Canadian direct bank and the digital banking division of the Canadian Imperial Bank of Commerce (CIBC). It offers no-fee chequing and savings accounts, a VISA credit card, Guaranteed Investment Certificates (GICs), mortgages and mutual funds.
Before 2017, it was called Canadian Direct Financial. Canadian Western Financial Ltd. (100% ownership) – mutual fund dealer. Canadian Western Trust Company (100% ownership) – personal and corporate trust services. Optimum Mortgage is a division of Canadian Western Trust Company and offers residential mortgages via a network of mortgage brokers.
The bank was founded by ING Group in April 1997 as ING Bank of Canada (operating as ING Direct). [1] In November 2012, it was acquired by Scotiabank. [ 4 ] The new name for the bank was revealed in November 2013, and the Tangerine branding was rolled out beginning in April 2014.
Founded in 1986 as the Canadian Home Income Plan Corporation. HomeEquity Bank is the first Canadian bank to offer reverse mortgages to Canadian homeowners aged 55 and over. On 13 October 2009, HomeEquity Bank was recognized as a Schedule 1 Canadian Bank. Innovation Federal Credit Union: 2007 Swift Current: Member owned.
Intact Financial Corporation is a Canadian multinational property and casualty insurance company. Originally established in 1809 as the Halifax Fire Insurance Association, it was later acquired by Nationale-Nederlanden; from 1993 to 2009, it was a subsidiary of the Dutch multinational ING Group under the name ING Canada.
Banking in Canada is one of Canada's most important industries with several banks being among its largest and most profitable companies.. It is dominated by a small number of large banks, with the six largest combining for 93% of the banking assets. [1]
In regards to public companies, which are not controlled through the ownership of voting shares, the corporation is considered to be Canadian-controlled if at least two-thirds of the board of directors is Canadian. [1] Large foreign direct investments in Canada are governed under the federal Investment Canada Act (ICA). [10]
The Canadian dollar (symbol: $; code: CAD; French: dollar canadien) is the currency of Canada. It is abbreviated with the dollar sign $. There is no standard disambiguating form, but the abbreviations Can$, CA$ and C$ are frequently used for distinction from other dollar-denominated currencies (though C$ remains ambiguous with the Nicaraguan córdoba).