General

Forbes ranked Canada’s top banks for 2025 and some big names didn’t make the cut

<img src="https://www.mtlblog.com/media-library/royal-bank-of-canada-plastic-payment-cards.jpg?id=59941088&width=1200&height=800&coordinates=132%2C0%2C132%2C0"/><br/><br/><p><span></span><span style="background-color: initial;">If you're considering a new <a href="https://www.mtlblog.com/tag/bank-of-canada" target="_blank">bank</a> or wondering whether your current one measures up, a new ranking of Canada's best banks for 2025 offers some unexpected insights that could influence your decision.</span></p><p><span style="background-color: initial;"> </span><span style="background-color: initial;"><a href="https://www.forbes.com/lists/worlds-best-banks/" target="_blank">Forbes partnered with market research firm Statista</a> to survey customers worldwide for their 2025 World's Best Banks list. While several of Canada's "Big Five" banks performed well, others failed to make the list entirely, and the top position was claimed by an unlikely contender. </span></p><p><span style="background-color: initial;"></span><span style="background-color: initial;">Whether you bank with RBC, TD, Scotiabank, BMO, CIBC, or a smaller institution, this ranking may challenge your assumptions about which banks excel in trust, service, and digital offerings.</span><span style="background-color: initial;"> </span><span style="background-color: initial;">The survey gathered responses from over 50,000 people across 34 countries between October and December 2024. </span></p><p><span style="background-color: initial;">Canadians evaluated financial institutions they currently use or recently used, scoring them on trustworthiness, fairness of terms and conditions, customer service, digital functionality, and the quality of financial advice. </span>Trustworthiness stood out as the most critical factor, particularly in today's uncertain economy. </p><p><span style="background-color: initial;"></span><span style="background-color: initial;">The top bank? Not one of the traditional powerhouses. Tangerine, an online-only bank owned by Scotiabank, earned first place, reflecting a growing preference among Canadians for digital-first banking solutions that prioritize convenience and innovation</span><span style="background-color: initial;">. </span><span style="background-color: initial;">Simplii Financial, CIBC's online bank, secured second place, meaning two digital banks surpassed RBC, Canada's largest bank, in overall customer satisfaction. </span></p><p><span style="background-color: initial;"></span><span style="background-color: initial;">Of the 11 Canadian banks included in <a href="https://www.mtlblog.com/richest-people-quebec-billionaires" target="_blank">Forbes' global ranking</a>, only three of the Big Five — RBC, TD, and Scotiabank — appeared. BMO and CIBC were notably absent.</span></p><p><span style="background-color: initial;"></span>Here's the full rundown of Canada's best banks for 2025, per Forbes:</p><ol start="1"><li>Tangerine </li><li>Simplii Financial </li><li>RBC </li><li>PC Financial </li><li>Vancity </li><li>EQ Bank </li><li>TD </li><li>Scotiabank </li><li>National Bank </li><li>Desjardins </li><li>ATB Financial</li></ol><p><em>Love this? Check out our <a href="https://www.mtlblog.com/notices/" target="_blank">MTL Blog noticeboard</a> for details on jobs, benefits, travel info and more!</em></p> <p><em>AI tools may have been used to support the creation or distribution of this content; however, it has been carefully edited and fact-checked by a member of MTL Blog's Editorial team. For more information on our use of AI, please visit our <a href="https://www.mtlblog.com/editorial-standards" target="_blank">Editorial Standards page</a>.</em></p>

mingooland
2 min read
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If you’re considering a new bank or wondering whether your current one measures up, a new ranking of Canada’s best banks for 2025 offers some unexpected insights that could influence your decision.

Forbes partnered with market research firm Statista to survey customers worldwide for their 2025 World’s Best Banks list. While several of Canada’s “Big Five” banks performed well, others failed to make the list entirely, and the top position was claimed by an unlikely contender.

Whether you bank with RBC, TD, Scotiabank, BMO, CIBC, or a smaller institution, this ranking may challenge your assumptions about which banks excel in trust, service, and digital offerings. The survey gathered responses from over 50,000 people across 34 countries between October and December 2024.

Canadians evaluated financial institutions they currently use or recently used, scoring them on trustworthiness, fairness of terms and conditions, customer service, digital functionality, and the quality of financial advice. Trustworthiness stood out as the most critical factor, particularly in today’s uncertain economy.

The top bank? Not one of the traditional powerhouses. Tangerine, an online-only bank owned by Scotiabank, earned first place, reflecting a growing preference among Canadians for digital-first banking solutions that prioritize convenience and innovation. Simplii Financial, CIBC’s online bank, secured second place, meaning two digital banks surpassed RBC, Canada’s largest bank, in overall customer satisfaction.

Of the 11 Canadian banks included in Forbes’ global ranking, only three of the Big Five — RBC, TD, and Scotiabank — appeared. BMO and CIBC were notably absent.

Here’s the full rundown of Canada’s best banks for 2025, per Forbes:

  1. Tangerine
  2. Simplii Financial
  3. RBC
  4. PC Financial
  5. Vancity
  6. EQ Bank
  7. TD
  8. Scotiabank
  9. National Bank
  10. Desjardins
  11. ATB Financial

Love this? Check out our MTL Blog noticeboard for details on jobs, benefits, travel info and more!

AI tools may have been used to support the creation or distribution of this content; however, it has been carefully edited and fact-checked by a member of MTL Blog’s Editorial team. For more information on our use of AI, please visit our Editorial Standards page.

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This cozy small town near Montreal is a wintry hideaway that’ll transport you to Scotland

<img src="https://www.mtlblog.com/media-library/a-stone-building-with-green-and-red-accents-stands-on-a-snowy-street-right-a-snow-covered-red-bridge-crosses-a-partially-froze.jpg?id=54843185&width=1200&height=800&coordinates=96%2C0%2C96%2C0"/><br/><br/><p>If you've ever dreamed of spending the holidays among the <a href="https://www.mtlblog.com/german-christmas-market-near-montreal">quaint cobblestone streets of Edinburgh or Glasgow</a>, you don't need to book a plane ticket from Quebec!</p><p>Just three hours from Montreal, the small Ontario town of Perth will make you feel like you've been whisked away to the cozy, wintry streets of Scotland.</p><p>Thanks to its <a href="https://www.mtlblog.com/things-to-do-fall-old-montreal">cobblestone streets, historic architecture</a> and hospitable charm, this spot has all the appeal of Europe, especially during the holiday season. </p><p>Founded in 1816 by Scottish immigrants, Perth was designed to feel like a slice of Scotland in Ontario, right down to its name, which was borrowed from its namesake, Perth in Scotland. The town's heritage runs deep, and to this day, it's full of Scottish charm.</p><blockquote class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/CJfAEGnl0Kj/?utm_source=ig_web_copy_link" data-instgrm-version="4" style="background:#FFF; border:0; border-radius:3px; box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width:658px; padding:0; width:99.375%; width:-webkit-calc(100% - 2px); width:calc(100% - 2px);"> <div style="padding:8px;"> <div style="background:#F8F8F8; line-height:0; margin-top:40px; padding:50% 0; text-align:center; width:100%;"> <div style="background:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACwAAAAsCAMAAAApWqozAAAAGFBMVEUiIiI9PT0eHh4gIB4hIBkcHBwcHBwcHBydr+JQAAAACHRSTlMABA4YHyQsM5jtaMwAAADfSURBVDjL7ZVBEgMhCAQBAf//42xcNbpAqakcM0ftUmFAAIBE81IqBJdS3lS6zs3bIpB9WED3YYXFPmHRfT8sgyrCP1x8uEUxLMzNWElFOYCV6mHWWwMzdPEKHlhLw7NWJqkHc4uIZphavDzA2JPzUDsBZziNae2S6owH8xPmX8G7zzgKEOPUoYHvGz1TBCxMkd3kwNVbU0gKHkx+iZILf77IofhrY1nYFnB/lQPb79drWOyJVa/DAvg9B/rLB4cC+Nqgdz/TvBbBnr6GBReqn/nRmDgaQEej7WhonozjF+Y2I/fZou/qAAAAAElFTkSuQmCC); display:block; height:44px; margin:0 auto -44px; position:relative; top:-22px; width:44px;"> </div> </div> <p style=" margin:8px 0 0 0; padding:0 4px;"> <a href="https://www.instagram.com/p/CJfAEGnl0Kj/?utm_source=ig_web_copy_link" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top" rel="noopener">See on Instagram</a> </p> </div> </blockquote><script async="" defer="" src="//platform.instagram.com/en_US/embeds.js"></script><p>Downtown is lined with historic stone buildings crafted by masons that look straight out of the 19th century. The architecture and detailed stonework only add to the "mini Scotland" vibes.</p><p>The town's river—the Tay River—is named similarly to Scotland's River Tay, adding another touch of Celtic influence. The river winds through Perth, and in winter, it's often frozen or frosted with snow, making it an ideal setting for a cozy walk or wintry photos. </p><p>The river, together with Perth's stone bridges and classic lampposts, creates an atmosphere perfect for a winter daydream.</p><blockquote class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/CI8Sk57L0jm/?utm_source=ig_web_copy_link" data-instgrm-version="4" style="background:#FFF; border:0; border-radius:3px; box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width:658px; padding:0; width:99.375%; width:-webkit-calc(100% - 2px); width:calc(100% - 2px);"> <div style="padding:8px;"> <div style="background:#F8F8F8; line-height:0; margin-top:40px; padding:50% 0; text-align:center; width:100%;"> <div style="background:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACwAAAAsCAMAAAApWqozAAAAGFBMVEUiIiI9PT0eHh4gIB4hIBkcHBwcHBwcHBydr+JQAAAACHRSTlMABA4YHyQsM5jtaMwAAADfSURBVDjL7ZVBEgMhCAQBAf//42xcNbpAqakcM0ftUmFAAIBE81IqBJdS3lS6zs3bIpB9WED3YYXFPmHRfT8sgyrCP1x8uEUxLMzNWElFOYCV6mHWWwMzdPEKHlhLw7NWJqkHc4uIZphavDzA2JPzUDsBZziNae2S6owH8xPmX8G7zzgKEOPUoYHvGz1TBCxMkd3kwNVbU0gKHkx+iZILf77IofhrY1nYFnB/lQPb79drWOyJVa/DAvg9B/rLB4cC+Nqgdz/TvBbBnr6GBReqn/nRmDgaQEej7WhonozjF+Y2I/fZou/qAAAAAElFTkSuQmCC); display:block; height:44px; margin:0 auto -44px; position:relative; top:-22px; width:44px;"> </div> </div> <p style=" margin:8px 0 0 0; padding:0 4px;"> <a href="https://www.instagram.com/p/CI8Sk57L0jm/?utm_source=ig_web_copy_link" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top" rel="noopener">See on Instagram</a> </p> </div> </blockquote><script async="" defer="" src="//platform.instagram.com/en_US/embeds.js"></script><p>However, Perth really comes to life during the holiday season with events and decorations that transform it into a festive wonderland.</p><p>In late November, the town's <a href="https://www.perth.ca/visit-us/festivals-and-events/christmas-and-holiday-events/" rel="noopener noreferrer" target="_blank">Festival of Lights</a> kicks off, with dozens of Christmas trees strung with lights and ornaments spread out around town. </p><p>At Crystal Palace, a glass-walled pavilion by the river, you can view the trees up close or take in the lights from outside as they reflect off the glass, turning the entire space into a glowing beacon of glittering lights. </p><p>The annual <a href="https://perthsantaclausparade.com/" rel="noopener noreferrer" target="_blank">Santa Claus Parade</a>, on December 7, is another unmissable event, with decorated floats and singers marching right through town.</p><blockquote class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/CNe9-2CFkE1/?utm_source=ig_web_copy_link" data-instgrm-version="4" style="background:#FFF; border:0; border-radius:3px; box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width:658px; padding:0; width:99.375%; width:-webkit-calc(100% - 2px); width:calc(100% - 2px);"> <div style="padding:8px;"> <div style="background:#F8F8F8; line-height:0; margin-top:40px; padding:50% 0; text-align:center; width:100%;"> <div style="background:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACwAAAAsCAMAAAApWqozAAAAGFBMVEUiIiI9PT0eHh4gIB4hIBkcHBwcHBwcHBydr+JQAAAACHRSTlMABA4YHyQsM5jtaMwAAADfSURBVDjL7ZVBEgMhCAQBAf//42xcNbpAqakcM0ftUmFAAIBE81IqBJdS3lS6zs3bIpB9WED3YYXFPmHRfT8sgyrCP1x8uEUxLMzNWElFOYCV6mHWWwMzdPEKHlhLw7NWJqkHc4uIZphavDzA2JPzUDsBZziNae2S6owH8xPmX8G7zzgKEOPUoYHvGz1TBCxMkd3kwNVbU0gKHkx+iZILf77IofhrY1nYFnB/lQPb79drWOyJVa/DAvg9B/rLB4cC+Nqgdz/TvBbBnr6GBReqn/nRmDgaQEej7WhonozjF+Y2I/fZou/qAAAAAElFTkSuQmCC); display:block; height:44px; margin:0 auto -44px; position:relative; top:-22px; width:44px;"> </div> </div> <p style=" margin:8px 0 0 0; padding:0 4px;"> <a href="https://www.instagram.com/p/CNe9-2CFkE1/?utm_source=ig_web_copy_link" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top" rel="noopener">See on Instagram</a> </p> </div> </blockquote><script async="" defer="" src="//platform.instagram.com/en_US/embeds.js"></script><p>Perth is also known for its shopping, with small boutiques, vintage and antique stores, and markets that make holiday gift hunting a breeze. 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On New Year's Day, the town hosts its <a href="https://www.perth.ca/visit-us/festivals-and-events/christmas-and-holiday-events/#PolarBearPlunge(January1,2025)" rel="noopener noreferrer" target="_blank">annual Polar Bear Plunge</a> in the icy Tay River.</p><p>A full list of Perth's November and December upcoming holiday events can be found <a href="https://www.perth.ca/visit-us/festivals-and-events/christmas-and-holiday-events/#PolarBearPlunge(January1,2025)" rel="noopener noreferrer" target="_blank">here.</a></p><h3>Christmas in Perth, Ontario</h3><br/><blockquote class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/CIx_GHQr7g5/?utm_source=ig_web_copy_link" data-instgrm-version="4" style="background:#FFF; border:0; border-radius:3px; box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width:658px; padding:0; width:99.375%; width:-webkit-calc(100% - 2px); width:calc(100% - 2px);"> <div style="padding:8px;"> <div style="background:#F8F8F8; line-height:0; margin-top:40px; padding:50% 0; text-align:center; width:100%;"> <div style="background:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACwAAAAsCAMAAAApWqozAAAAGFBMVEUiIiI9PT0eHh4gIB4hIBkcHBwcHBwcHBydr+JQAAAACHRSTlMABA4YHyQsM5jtaMwAAADfSURBVDjL7ZVBEgMhCAQBAf//42xcNbpAqakcM0ftUmFAAIBE81IqBJdS3lS6zs3bIpB9WED3YYXFPmHRfT8sgyrCP1x8uEUxLMzNWElFOYCV6mHWWwMzdPEKHlhLw7NWJqkHc4uIZphavDzA2JPzUDsBZziNae2S6owH8xPmX8G7zzgKEOPUoYHvGz1TBCxMkd3kwNVbU0gKHkx+iZILf77IofhrY1nYFnB/lQPb79drWOyJVa/DAvg9B/rLB4cC+Nqgdz/TvBbBnr6GBReqn/nRmDgaQEej7WhonozjF+Y2I/fZou/qAAAAAElFTkSuQmCC); display:block; height:44px; margin:0 auto -44px; position:relative; top:-22px; width:44px;"> </div> </div> <p style=" margin:8px 0 0 0; padding:0 4px;"> <a href="https://www.instagram.com/p/CIx_GHQr7g5/?utm_source=ig_web_copy_link" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top" rel="noopener">See on Instagram</a> </p> </div> </blockquote><script async="" defer="" src="//platform.instagram.com/en_US/embeds.js"></script><p>Price: Free to visit</p><p>When: Visit from mid-November onwards for ultimate winter magic<br/></p><p>Address: Perth, ON</p><p>Why You Need To Go: Whether you're there for the twinkling lights, the charming old buildings, or the chance to feel like you've stepped into a Scottish village, Perth is definitely worth the trip.</p><p><a href="https://www.perth.ca/en/visit/tourism.aspx" rel="noopener noreferrer" target="_blank">Perth Tourism website</a></p><p><em>Before you get going, check out our <a href="https://www.mtlblog.com/responsible-travel-guidelines" target="_blank" rel="noopener">Responsible Travel Guide</a> so you can be informed, be safe, be smart, and most of all, be respectful on your trip.</em></p>

mingooland · · 3 min read