Continental Bank of Canada

Chartered bank in Canada

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Continental Bank of CanadaCompany type| Bank

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Industry| Financial services
Founded| 1980-1986, 2013
Headquarters| Toronto, Ontario
Website| http://www.continentalbank.ca/

The Continental Bank of Canada is a chartered bank in Canada founded in 2013. A different bank operated under that name in the early 1980s.

## First Continental Bank

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The first Continental Bank had its origins in 1925 when the Industrial Acceptance Corporation was founded.[1] It became IAC, a financing company, in 1970. Continental Bank of Canada was chartered in 1977 when IAC decided to expand the scope of operations,[1][2] and began business in June 1979. It had its head office at 130 Adelaide St. West, Toronto. In 1981, it was Canada's ninth-largest bank with 70 branches across the country, and assets at June 30 of $1.6 billion.[3] Also in that year, Continental Bank absorbed its parent company, IAC.[4]

In 1985, after a loss of depositor confidence and a run on deposits that affected several small banks, the bank received a line of Credit from the Bank of Canada.[5] The bank and its remaining 55 branches were then acquired by Lloyds Bank Plc of the United Kingdom and became "Lloyds Bank Canada" in 1986.[6] Continental Bank continued to exist as a chartered bank until 1996 because of a dispute with Revenue Canada.[7] Lloyds Bank sold its Canadian operations to HongKong Bank of Canada in 1990, which became HSBC Bank Canada.[8]

## Second Continental Bank

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In 2013 a new bank named "Continental Bank of Canada" was chartered.[9] Before being chartered, the company had been operating as Continental Currency Exchange. It continues to operate under that name and focus on providing foreign exchange services through its 19 branches across Ontario.[10]

## See also

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* Banks portal

* List of banks in Canada

## References

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1. ^ a b Sawyer, Deborah C. (December 6, 2013). "Continental Bank of Canada". The Canadian Encyclopedia. Retrieved March 10, 2025.
2. ^ "An Act to Incorporate Continental Bank of Canada (S.C. 1976-77, c. 58)". Consolidated Federal Laws of Canada. July 14, 1977.
3. ^ "Continental Bank of Canada Shifts". The New York Times. September 1, 1981. p. D19.
4. ^ "Industrial Acceptance Corporation Ltd". Canadian Corporate Reports: McGill Digital Archive. 2005. Archived from the original on February 12, 2018. Retrieved 21 May 2024.
5. ^ Goodhart, Charles Albert Eric (1995). The Central Bank and the Financial System. MIT Press. pp. 377-378. ISBN 978-0-262-07167-3. "Continental Bank arranged lines of credit totaling 2.9bn in October 1985..."
6. ^ "Canadian Bank Sales Ok'd". Chicago Tribune. November 10, 1986. Retrieved March 10, 2025.
7. ^ Continental Bank of Canada v. Canada, CanLII 2 SCR 358 (SCC 1998).
8. ^ Bangsberg, P.T. (February 15, 1990). "Hong Kong Bank to Buy Lloyds Bank Canada Deal Subject to Approval". The Journal of Commerce. Retrieved March 10, 2025.
9. ^ "Part I, Volume 148, Number 3: GOVERNMENT NOTICES". Canada Gazette. January 18, 2014.
10. ^ "Working at Continental Bank of Canada". Glassdoor.

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Banks and credit unions in Canada

Banks

| Big Five|

* Bank of Montreal
* Canadian Imperial Bank of Commerce
* Simplii Financial
* Royal Bank of Canada (HSBC Bank Canada)
* Scotiabank
* Tangerine
* Toronto-Dominion Bank (TD Canada Trust)

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Other banks|

* Alterna Bank
* AMEX Bank of Canada
* Bank of China (Canada)
* Canadian Tire Bank
* Canadian Western Bank
* Motive Financial
* Citibank Canada
* Equitable Bank
* Exchange Bank of Canada
* First Nations Bank of Canada
* ICICI Bank Canada
* Laurentian Bank of Canada
* Manulife Bank of Canada
* Motusbank
* National Bank of Canada
* Peoples Bank of Canada
* President's Choice Bank
* Vancity Community Investment Bank
* VersaBank
* Wealth One Bank of Canada

Credit unions

| Federal credit unions|

* Coast Capital Savings
* Innovation
* UNI Financial Cooperation

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Provincial credit unions|

| British Columbia|

* BlueShore Financial
* First West
* Envision Financial
* Island Savings
* Valley First
* Gulf & Fraser
* Prospera
* Vancity

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Prairies|

* Access
* Affinity
* Assiniboine
* Cambrian
* Conexus
* ConnectFirst
* Servus
* Steinbach

Eastern Canada|

* Alterna Savings
* Pace
* Desjardins Group
* Desjardins Ontario
* DUCA
* Libro
* Meridian

Other financial institutions

| Federal financial institutions|

* Business Development Bank of Canada
* Canada Mortgage and Housing Corporation
* Farm Credit Canada

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Provincial financial institutions|

* ATB Financial

Deposit insurance & regulation|

* Canada Deposit Insurance Corporation
* Financial Services Regulatory Authority of Ontario
* Office of the Superintendent of Financial Institutions

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HSBC

Origin|

* The Hongkong and Shanghai Banking Corporation

Board of directors|

* Kathleen Casey
* Laura Cha
* Henri de Castries
* Jonathan Evans
* David Nish
* Noel Quinn
* Mark Tucker

Brands|

* HSBC Expat
* HSBC InvestDirect
* HSBC Premier
* HSBC Private Bank
* PayMe
* Proa

Principal local banks|

* Australia
* Bangladesh
* Bermuda
* Brazil
* Chile
* Mainland China
* Egypt
* Continental Europe
* Germany
* Hong Kong
* India
* Indonesia
* New Zealand
* Malaysia
* Malta
* Middle East
* Mexico
* Monaco
* Philippines
* Poland
* Saudi Arabia
* Singapore
* South Korea
* Sri Lanka
* Japan
* Taiwan
* Thailand
* Turkey
* United Kingdom
* United States

Subsidiary banks|

* First Direct (UK)
* Hang Seng Bank (Hong Kong) (63.04%)
* M&S Bank (UK)

Minority stakes and JVs|

* Bank of Communications (19%)
* Canara HSBC Life Insurance (26%)
* HSBC Saudi Arabia (60%)
* SABB (40%)
* Techcombank (15%)

Predecessor companies|

* Bank of British Columbia
* Barclays Bank Canada
* Beneficial
* Continental Bank of Canada
* Crédit Commercial de France
* Greenwich Savings Bank
* Grupo Banistmo
* Guyerzeller
* Household
* Imperial Bank of Persia
* Lloyds Bank Canada
* Marine Midland Bank
* Midland Bank
* Republic New York
* Samuel Montagu & Co.
* Williamsburgh Savings Bank

Former local banks|

* Argentina
* Armenia
* Canada
* Costa Rica
* Georgia
* Greece
* Panama
* Russia

Former subsidiaries|

* Charterhouse Capital Partners
* HSBC Rail

Scandals|

* Libor scandal
* Swiss Leaks
* more

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