Barclays Bank Canada
| Company type | Subsidiary (historical) |
|---|---|
| Industry | Banking, Financial services |
| Founded | 1929 in Montreal, Quebec, Canada |
| Defunct | 1956 (first operation), 1996 (second operation) |
| Fate | Integrated into Imperial Bank of Canada in 1956; Acquired by Hongkong Bank of Canada in 1996 |
| Headquarters | Montreal (1929–1956), Toronto (1979–1996), Calgary (2010–present) , Canada |
| Parent | Barclays Bank Limited (historical); currently Barclays Bank Plc, Canada Branch |
| Barclays Canada |
| Headquarters: Montreal, Quebec 1929–1956 |
| Integrated into Imperial Bank of Canada in 1956 |
| Headquarters: Toronto, Ontario 1979–1996 |
| Acquired by Hongkong Bank of Canada in 1996 |
| Headquarters: Calgary, Alberta 2010–present |
Barclays Bank maintained retail and commercial banking operations within Canada during three distinct intervals: from 1929 to 1956, between 1979 and 1996, and resuming in 2010 to the present.
Barclays Bank (Canada)
Barclays Bank (Canada) Limited was formed in 1929 in Montreal, Quebec as a partnership involving Barclays Bank Limited and Barclays Bank (Dominion, Colonial and Overseas). The institution later established a branch in Toronto. Prior to the creation of the Bank of Canada in 1934, Barclays issued its own currency notes. In 1956, Barclays Bank (Canada) was purchased by the Imperial Bank of Canada, an antecedent of the Canadian Imperial Bank of Commerce, with Barclays receiving a 10% stake in Imperial’s equity. H.A. Stevenson held the presidency from at least 1935 through 1950, with his signature appearing on one of the final banknotes issued by Barclays.
Barclays Bank of Canada
The entity Barclays Canada Limited, a holding company created in 1927 to adhere to Canadian foreign ownership regulations, remained operational. It resumed wholesale banking activities in 1974. After regulatory reforms in 1979 permitted foreign banks to obtain Canadian charters, Barclays’ London headquarters established Barclays Bank of Canada (). By 1989, the bank had structured its operations into commercial and corporate segments. In 1996, it was acquired by Hongkong Bank of Canada (HBC), which subsequently rebranded as HSBC Bank Canada in 1999 to unify its global brand identity.
Current operations
Barclays Global Investors Canada Ltd., a non-banking subsidiary, oversees management of iShares and exchange-traded index funds. In 2010, Barclays received authorization to operate branches within Canada. Presently, it functions as a foreign bank branch licensed by the Office of the Superintendent of Financial Institutions with offices located in Toronto and Calgary, operating under Barclays Bank Plc, Canada Branch. The institution intends to broaden its services to encompass comprehensive lending, sales, trading, and research through Barclays Capital Canada Inc.
See also
In addition to acquiring Barclays Bank of Canada, HSBC expanded its Canadian presence by purchasing operations from other British banks such as: