{"id":82856,"date":"2021-07-19T21:57:53","date_gmt":"2021-07-19T21:57:53","guid":{"rendered":"https:\/\/www.similarweb.com\/corp\/?p=82856"},"modified":"2025-03-25T11:41:27","modified_gmt":"2025-03-25T11:41:27","slug":"ca-bank-trends","status":"publish","type":"post","link":"https:\/\/www.similarweb.com\/blog\/research\/digital-analysis\/top-canadian-banks\/","title":{"rendered":"Top 5 Canadian Banks and the Trends Driving Their Digital Growth"},"content":{"rendered":"

Like most of the world, the COVID-19 pandemic accelerated digital adoption across industries. The financial service industry in Canada was no exception. According to Similarweb data, web traffic<\/a> to the Banking, Credit, and Lending category within the country increased 20% in 2020. In this article, we\u2019ll use our Web Intelligence<\/a> solution to hone in on the digital trends impacting the performance of top Canadian banks<\/a> (known as the \u201cBig 5<\/i>\u201d), and share lessons learned from the winners.<\/p>\n

\"Increase

Web traffic 2020 vs. 2019: Banking, Lending, and Credit category, Canada<\/em><\/p><\/div>\n

1. Biggest Canadian banks boom from digital adoption<\/h2>\n

With physical branches closed at the onset of the pandemic, consumers began replacing their neighborhood banks with online portals, generating growth among Canada\u2019s \u201cBig 5\u201d banks \u2013 TD Bank<\/b>, Royal Bank of Canada (RBC)<\/b>, Scotia Bank<\/b>, BMO<\/b>, and CIBC<\/b> \u2013\u00a0 in 2020 and the first half of 2021.<\/p>\n

Digital dividend: Web visits grow across the board<\/h3>\n

Desktop and mobile web visits to all \u201cBig 5\u201d banks grew year-over-year (YoY) in 2020. Traffic gains (in descending order) for this group include:<\/p>\n