SBI Canada Bank
- Company typePrivate
- Founded-
- HeadquartersToronto, Canada
- Headcount—
- GTM typeB2B and B2C
- OfferingServices
SBI Canada Bank firmographics
Firmographics- Name
- SBI Canada Bank
- Legal name
- SBI Canada Bank
- Website
- https://ca.statebank
- Company type
- Private
- Operating status
- Operating
- Ownership category
- akta.pro rank
SBI Canada Bank industry classification
Industry- Product category
- Retail Banking
- NAICS
- Commercial Banking (52211), Commercial Banking (522110), Depository Credit Intermediation (5221)
- SIC
- National Commercial Banks (6021), State Commercial Banks (6022), Personal Credit Institutions (6141), Short-Term Business Credit Institutions (6153)
- akta.pro primary industry
- Branch & In-Person Banking (Teller/ATM Networks) (FSABAAAE)
- akta.pro secondary industry
- Savings Banks (Public/State-Owned) (FSABAKAK)
Keywords
Where SBI Canada Bank is headquartered
LocationHeadquarters
- HQ city
- Toronto
- HQ country
- Canada
- HQ region
- North America
Offices7 records
Markets served
SBI Canada Bank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales
Revenue model
- Interest Income: Income from lending activities including mortgages, lines of credit, commercial mortgages, and loans against GICs. Interest earned on variable and fixed-rate products.
- Fee Income: Service charges on accounts, transactions, wire transfers, money transfers to India, and various banking services. Service charges effective March 1st, 2026.
- Investment Products: Revenue from sale of investment products including GICs (redeemable, cashable, non-redeemable), TFSAs, and RRSPs with various terms and interest rates.
- Trade Finance: Fees from trade finance services including export/import bills on collection and letter of credit issuance for commercial customers.
- Foreign Exchange: Revenue from foreign exchange transactions and preferential exchange rates offered on money transfers to India.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Chequing Account with zero initial fees |
| Subscription | Monthly | Savings and Super Saver Accounts |
| Subscription | Annual | Student GIC |
| Usage-based | Monthly | Mortgages and Lending Products |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels5 records
SBI Canada Bank product offering
Product offeringCore offering
SBI Canada Bank is a full-service Schedule II Canadian bank that provides retail and commercial deposit products, lending products, trade finance, foreign exchange, and India remittance services through seven physical branches and digital channels (YONO mobile app and OnlineSBIGlobal corporate internet banking). The bank caters to individual consumers, businesses, commercial clients, and the Indian diaspora with specialized offerings including Student GIC and NRI services, while operating as a wholly-owned subsidiary of State Bank of India.
Product overview
SBI Canada Bank operates as a full-service direct bank and wholly-owned subsidiary of State Bank of India, offering a comprehensive suite of retail and commercial banking products. The product portfolio spans deposit accounts (Chequing, Saving, Super Saver, Premium Savings, GIC), registered accounts (TFSA, RRSP), and lending products (Mortgages, Lines of Credit, Loans against GIC). Business banking includes commercial mortgages, trade finance, and foreign exchange services. Digital channels comprise the YONO SBI Canada mobile app for 24/7 access and OnlineSBIGlobal for corporate internet banking. Specialized offerings include Student GIC for international students and NRI Services for non-resident Indians. Core differentiator is international remittance to India with preferential exchange rates.
Differentiator
Problem solved
Functional benefit
Brands
- YONO SBI Canada: Mobile banking application for SBI Canada Bank customers providing 24X7 access to accounts, online banking, and financial services
Products and services
- Saving Account Basic savings account for depositing funds and earning interest, available to personal banking customers.
- Super Saver Account High-interest savings account available for both personal and business customers.
- Premium Savings Account Savings account with premium interest rates targeted at personal banking customers.
- Chequing Account Primary checking account for everyday banking transactions, also referred to as the Current Account.
- Guaranteed Investment Certificate (GIC) CDIC-insured term investment available as redeemable, cashable, or non-redeemable options for personal customers.
- TFSA (Tax-Free Savings Account) Tax-advantaged registered account with Power Savings and Power GIC options for tax-free growth.
- RRSP (Registered Retirement Savings Plan) Tax-deferred retirement savings plan with RRSP GICs available as non-redeemable investments.
- Student GIC Specialized GIC program designed for international students studying in Canada, simplifying proof of funds requirements for Canadian study permits.
- Mortgages Residential mortgage products including fixed and variable rate options, with CMHC insurance approval.
- Lines of Credit Revolving credit facilities providing flexible access to funds up to approved limits.
- Loan against GIC Secured loan product using existing GIC holdings as collateral.
- Commercial Mortgages Commercial real estate financing for business properties and investment real estate.
- Trade Finance Import/export financing solutions including Export/Import Bills on Collection services for commercial customers.
- Letter of Credit Services Irrevocable documentary credit issuance for international trade transactions, subject to UCP 500.
- Foreign Exchange Transactions Currency exchange and forex trading services for personal and business customers.
- Send Money to India International money transfer service to India with preferential exchange rates, available through online and branch channels.
- Corporate Internet Banking (OnlineSBIGlobal) Business internet banking platform for corporate account management, transactions, and administration with multiple user access levels.
- NRI Services Banking services tailored for Non-Resident Indians including specialized account options and India connectivity.
- YONO SBI Canada Mobile Banking App Mobile banking application enabling 24/7 access to accounts, fund transfers, bill payments, and transactions via smartphone on iOS and Android.
- Online Account Opening Digital platform for opening Chequing, Saving, and Super Saver accounts online with zero initial fees for 12 months and ID verification via branch visit or Canada Post outlets.
Companies that use SBI Canada Bank
Customer profileSegments4 records
Ideal customer profiles4 records
SBI Canada Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
Feature4 records
SBI Canada Bank partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- Canada Deposit Insurance Corporation (CDIC)coreCDIC is Canada's federal deposit insurance corporation that protects eligible deposits at member institutions. SBI Canada Bank is a member of CDIC, providing deposit insurance protection for customer deposits up to CDIC limits.
- Canada Mortgage and Housing Corporation (CMHC)coreCMHC is Canada's national housing corporation providing mortgage loan insurance and housing policy. SBI Canada Bank is an Approved Lender with CMHC, enabling the bank to offer insured mortgage products to customers.
Scale indicators2 records
SBI Canada Bank competitors and assessment
Company assessmentDirect peers
- Canara Bank (Canada): Canara Bank, another major Indian public-sector bank, maintains a Canadian presence serving the Indian diaspora with banking, remittance, and trade-related products. Competes with SBI Canada for the same diaspora customer segment and India-Canada transaction flows.
- ICICI Bank Canada: ICICI Bank Canada is a Schedule II subsidiary of ICICI Bank, one of India's largest private-sector banks, offering retail and commercial banking services targeted at the Indian diaspora in Canada. It directly competes with SBI Canada on NRI services, remittances, student GICs, and branch-led relationship banking.
- Bank of Baroda (Canada): Bank of Baroda's Canadian operations offer retail banking, NRI services, and India remittances serving the Indian diaspora in Toronto and other major centres. Closely comparable to SBI Canada in customer focus, product mix, and parent-bank affiliation.
- Bank of India (Canada): Bank of India's Canadian subsidiary serves the Indian diaspora with deposit accounts, remittances, and trade finance services through branches in major Canadian cities. It is a direct peer competing for the same niche customer base and India-Canada financial flows as SBI Canada.
Emerging players
- Tangerine Bank: Tangerine is a digital-first Canadian bank offering online chequing, savings, and mortgages with no-branch, low-fee positioning. It competes with SBI Canada's digital channels for price-sensitive retail customers who prioritize convenience over relationship banking.
Broad incumbents
- TD Canada Trust: TD is one of Canada's largest banks with a national branch and digital footprint spanning retail deposits, mortgages, and commercial banking. As a broad incumbent, it competes with SBI Canada for mainstream retail and small-business customers in the same Canadian cities.
- BMO Bank of Montreal: BMO is one of Canada's largest banks with national retail and commercial banking operations, including mortgages, deposits, and treasury services. It competes broadly with SBI Canada for retail customers in the GTA and Western Canada.
- Scotiabank: Scotiabank operates one of Canada's largest branch networks and has a particularly strong international banking franchise including India operations. It overlaps with SBI Canada on retail banking, mortgages, and India-linked financial flows.
- RBC Royal Bank: RBC is Canada's largest bank by assets, offering full-service retail, commercial, and wealth management across the country. It competes with SBI Canada on mortgages, deposits, and FX services within the bank's branch geography.
- CIBC: CIBC is one of Canada's largest banks with full-service retail and commercial banking, including deposits, mortgages, and business banking. It is a broad incumbent that competes with SBI Canada for retail and small-business customers in shared geographies.
Market position
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
SBI Canada Bank social profiles
Digital presenceSBI Canada Bank compliance and trust
Trust signalCompliance7 records
SBI Canada Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
SBI Canada Bank leadership team
Management profileNumber of profiles
SBI Canada Bank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
SBI Canada Bank M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about SBI Canada Bank
What does SBI Canada Bank do?
SBI Canada Bank is a full-service Schedule II Canadian bank that provides retail and commercial deposit products, lending products, trade finance, foreign exchange, and India remittance services through seven physical branches and digital channels (YONO mobile app and OnlineSBIGlobal corporate internet banking). The bank caters to individual consumers, businesses, commercial clients, and the Indian diaspora with specialized offerings including Student GIC and NRI services, while operating as a wholly-owned subsidiary of State Bank of India.
Is SBI Canada Bank a public or private company?
SBI Canada Bank is a private company. It is classified as corporate owned and is currently operating.
When was SBI Canada Bank founded?
SBI Canada Bank was founded in -1.
Where is SBI Canada Bank based?
SBI Canada Bank is headquartered in Toronto, Canada, in the North America region.
How does SBI Canada Bank make money?
Five revenue lines are on record. Interest Income is the primary driver. The others are fee Income, investment Products, trade Finance and foreign Exchange.
Who are SBI Canada Bank's main competitors?
Direct peers on record are Canara Bank (Canada), ICICI Bank Canada, Bank of Baroda (Canada) and Bank of India (Canada). Tangerine Bank is listed as an emerging player. Broad incumbents are TD Canada Trust, BMO Bank of Montreal, Scotiabank, RBC Royal Bank and CIBC.
Does SBI Canada Bank have an API?
No public API is recorded for SBI Canada Bank.
What industry is SBI Canada Bank in?
SBI Canada Bank's product category is Retail Banking. Its primary akta.pro industry code is FSABAAAE, Branch & In-Person Banking (Teller/ATM Networks), with a secondary code of FSABAKAK, Savings Banks (Public/State-Owned). Its NAICS code is 52211 and its SIC code is 6021.