Among the largest banks in Canada, the Bank of Montreal (BMO) had the highest efficiency ratio in 2023. BMO reported a ratio of 68 percent, which was followed by TD Bank's 60.9 percent. The lowest efficiency ratio was reported by the Royal Bank of Canada at 55.5 percent. The efficiency ratio, often referred to as cost-to-income ratio or productivity ratio, is calculated by dividing non-interest expenses by total revenue, and it's one of the key indicators of efficiency. The lower the ratio, the more efficiently a bank operates.
Efficiency ratio of the largest banks in Canada in 2023
This statistic has been compiled by Statista using the annual report of each bank. The selection of banks are based on a ranking of the largest banks in Canada by total assets.
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Statista. (January 11, 2024). Efficiency ratio of the largest banks in Canada in 2023 [Graph]. In Statista. Retrieved December 30, 2024, from https://www.statista.com/statistics/1441276/efficiency-ratio-largest-banks-in-canada/
Statista. "Efficiency ratio of the largest banks in Canada in 2023." Chart. January 11, 2024. Statista. Accessed December 30, 2024. https://www.statista.com/statistics/1441276/efficiency-ratio-largest-banks-in-canada/
Statista. (2024). Efficiency ratio of the largest banks in Canada in 2023. Statista. Statista Inc.. Accessed: December 30, 2024. https://www.statista.com/statistics/1441276/efficiency-ratio-largest-banks-in-canada/
Statista. "Efficiency Ratio of The Largest Banks in Canada in 2023." Statista, Statista Inc., 11 Jan 2024, https://www.statista.com/statistics/1441276/efficiency-ratio-largest-banks-in-canada/
Statista, Efficiency ratio of the largest banks in Canada in 2023 Statista, https://www.statista.com/statistics/1441276/efficiency-ratio-largest-banks-in-canada/ (last visited December 30, 2024)
Efficiency ratio of the largest banks in Canada in 2023 [Graph], Statista, January 11, 2024. [Online]. Available: https://www.statista.com/statistics/1441276/efficiency-ratio-largest-banks-in-canada/
