Mortgage Market Share — Top 10 Lenders

"Big-Banks" control three out of four mortgages in Canada’s $1.1 trillion mortgage market, and their share has been growing.

Here are the top 10 Canadian mortgage lenders by market share…

The Big Hitters:


1. RBC $186.3 billion, total market share 17.08%

2. TD Bank, $157.0 billion, total market share 14.40%

3. CIBC, $148.7 billion, total market share 13.64%

4. Scotiabank, $145.7 billion, total market share 13.36%

5. Desjardins, $81.3 billion, total market share 7.46%

6. BMO, $71.2 billion, total market share 6.53%

7. First National, $40.8 billion, total market share 3.74%

8. ING Direct, $30.2 billion, total market share 2.77%

9. National Bank, $29.3 billion, total market share 2.69%

10. HSBC, $19.7 billion, total market share 1.81%




Market share figures are estimates based on data from OSFI, the Bank of Canada, and McVay’s proprietary sources. Data is as of November 2011 (there is a lag in reporting). These statistics reflect both off-balance sheet securitized mortgages (prior to IFRS) and mortgage securitization retained on balance sheet as securities.

Some quick takes:

Canada’s Big 5 banks hold two out of three mortgages (65% market share).
The growth leader has been TD (Yes, despite criticism for its collateral charge mortgages). McVay says: “Collateral charges are a trend I expect to see right across the industry, as a way to secure customer relationships.” That’s because collateral charges generally make switching lenders more costly.
BMO has shed significant mortgage share since exiting the broker market (more on that this weekend), and also because of its strategy to build share in HELOCs.
National Bank has been doing well, says McVay, “largely from mortgage portfolios that it’s been buying, its broker association and its Power Financial linkage.”


source:http://www.canadianmortgagetrends.com/canadian_mortgage_trends/2012/02/mortgage-market-share-top-10-lenders.html#more February 17, 2012 Rob McLister, CMT