What Canadians think of bank brands

Two banks and one insurer have made their debuts on Canadian Business Best Brands list.

The magazine surveyed Canadians to find out what they think of national brands – which ones they know, trust or love.

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Scotiabank and BMO join TD as some of the top brands in the country, while Great-West Life Assurance has taken over the spot previously occupied by Sun Life.

Scotiabank came in at spot 25 of 25. “Only Scotiabank can boast of its unique relationship with movie theatre chain Cineplex (which also appears on this ranking) and their joint Scene loyalty program. That deal, renewed late last year for 10 more years, has put Scotiabank’s brand front and centre for millions of moviegoers — many of them millennials about to hit the prime age for financial services,” writes CB.

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BMO is making its debut at 18 this year. After realizing many Canadians were indifferent to the brand, the bank launched a new marketing campaign that aimed to humanize the banking behemoth.

TD Bank made the biggest rankings leap of any of the financial firms on this year’s list. It went from 17^th place to 11th. “The company stands apart from the snore-inducing image associated with most financial institutes, thanks largely to innovative marketing strategies like the TD Rolling Renovations campaign,” says CB.

Also new to the list is Great-West Life Assurance. The insurer knocked incumbent Sun Life Financial out of the number 22 spot.

See the full rankings at Canadian Business.

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Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.