Barclays Bank Canada
Encyclopedia
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| Toronto, Ontario, Canada Canada Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean... 1979-1996 |
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| 1979-1996 2010-present |
| Merged into modern-day Hongkong Bank of Canada |
1929-1956
Barclays Bank of CanadaCanada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
was a unit of Barclays Bank PLC. The Canadian unit was incorporated in 1929 in Montreal, QC with office later established in Toronto
Toronto
Toronto is the provincial capital of Ontario and the largest city in Canada. It is located in Southern Ontario on the northwestern shore of Lake Ontario. A relatively modern city, Toronto's history dates back to the late-18th century, when its land was first purchased by the British monarchy from...
.
Like the other Canadian chartered banks, it issued its own paper money. The Bank of Canada
Bank of Canada
The Bank of Canada is Canada's central bank and "lender of last resort". The Bank was created by an Act of Parliament on July 3, 1934 as a privately owned corporation. In 1938, the Bank became a Crown corporation belonging to the Government of Canada...
was established through the Bank of Canada Act of 1934 and the banks relinquished their right to issue their own currency. Barclays Bank of Canada was acquired by Imperial Bank of Canada
Imperial Bank of Canada
The Imperial Bank of Canada was a Canadian bank based in Toronto in the late 19th Century and early 20th Century.Founded in 1873 as the Imperial Bank in Toronto by Henry Stark Howland, former vice president of the Canadian Bank of Commerce. The bank became the Imperial Bank of Canada in 1874.In...
, a predecessor of CIBC in 1956.
1979-1996
In 1979 Barclays established a new Canadian subsidiary, but it was later bought by Hongkong Bank of Canada in 1996.2000s
A non-banking subsidiary of Barclays Group, Barclays Global Investors Canada Limited, is based in Toronto and administers iSharesIShares
iShares are a family of exchange-traded funds managed by BlackRock. The first iShares were known as WEBS but were since rebranded.Each iShares fund tracks a bond or stock market index...
, exchange-traded index fund
Index fund
An index fund or index tracker is a collective investment scheme that aims to replicate the movements of an index of a specific financial market, or a set of rules of ownership that are held constant, regardless of market conditions.-Tracking:Tracking can be achieved by trying to hold all of the...
s. In 2010, Barclays applied for right to open branches in Canada.. The current Barclay's operations in Canada are in Toronto
Toronto
Toronto is the provincial capital of Ontario and the largest city in Canada. It is located in Southern Ontario on the northwestern shore of Lake Ontario. A relatively modern city, Toronto's history dates back to the late-18th century, when its land was first purchased by the British monarchy from...
and Calgary
Calgary
Calgary is a city in the Province of Alberta, Canada. It is located in the south of the province, in an area of foothills and prairie, approximately east of the front ranges of the Canadian Rockies...
.
See also
In addition to Barclays, HSBCHSBC
HSBC Holdings plc is a global banking and financial services company headquartered in Canary Wharf, London, United Kingdom. it is the world's second-largest banking and financial services group and second-largest public company according to a composite measure by Forbes magazine...
acquired other Canadian banks, including:
- Bank of British ColumbiaBank of British ColumbiaThere have been two Canadian banks with the name Bank of British Columbia.-The first bank:The first was established by Royal Charter in 1862, with its head office in London. Between 1862 and 1871 it issued dollar banknotes. By 1885 it had branches in San Francisco, Portland, Oregon , Victoria,...
- Lloyds Bank of CanadaLloyds Bank of CanadaLloyds Bank of Canada was formed in 1986 when Lloyds Bank Plc of the United Kingdom purchased the Continental Bank of Canada. This bank had been formed earlier in the 1980s when IAC, a financing company, decided to expand the scope of operations....