The COVID-19 outbreak is the most urgent challenge Canada has faced in recent memory. And banks in Canada have stepped up to help our country work through these times. We are supporting individuals, small businesses, employees and communities as we come together to manage the financial uncertainty and economic disruption faced by our families, friends and neighbours.

Canada’s banks have launched comprehensive programs to make a positive difference for those who need our help and support.

Personal customers

  • Canada’s largest banks are offering mortgage payment relief to customers by way of deferred mortgage payments
  • Flexibility on credit cards and lines of credit, including deferrals and low minimum payments
  • Instituting policies that prioritize seniors and vulnerable populations when they access in-branch services

Small business customers

  • Deferral of payment on small business credit cards and credit lines
  • Payment deferral on the principal of a small business loan
  • Advice and support of small business clients' immediate cash management or new lending needs

Employees

  • Intensive cleaning programs to ensure that workplaces, including branches, remain as safe as possible for everyone
  • Paying bonuses and extra paid days off to customer-service employees who work in branches and call centers
  • Implementing broad-based work from home options for any roles that can be performed remotely to support public health efforts and the well-being of employees

Communities

  • United Way funding to support gaps in community services urgently needed for vulnerable individuals affected by the public health, social and economic consequences of COVID-19
  • Donations to communities dealing with the repercussions of the global health challenges posed by COVID-19 and for programs serving at-risk populations
  • A gift to United Way Centraide Canada to provide essential services, community services and services for senior citizens.

As we have done before, Canada’s banks are working closely with all stakeholders to help Canadians weather this unprecedented event.

Please visit your bank’s website for more information:

BMO Financial Group

CIBC

National Bank of Canada

RBC

Scotiabank

TD Bank Group

Bank Announcements

March 24, 2020:
BMO Announces Dedicated Financial Relief for Canadian Businesses Affected by COVID‑19

March 20, 2020:
BMO Financial Group Announces its Annual Meeting to be Held by Electronic Means

BMO Financial Group Supporting United Way Community Fund to Fill Gaps for Community Services due to COVID‑19

March 17, 2020:
Canada's Six Biggest Banks Take Decisive Action To Help Customers Impacted by COVID‑19

BMO Bank of Montreal Announces Actions to Support the Well-Being of Clients, Team Members, and Communities

March 24, 2020:
CIBC announces additional measures to support seniors, our team, and the community during COVID‑19

March 19, 2020:
CIBC announces support for small business owners

March 17, 2020:
Canada's Six Biggest Banks Take Decisive Action To Help Customers Impacted by COVID‑19

March 16, 2020:
CIBC announces proactive, precautionary measures to help slow the spread of COVID‑19 and support our clients and communities

March 26, 2020:
National Bank Encourages its Clients to Stay Safe and Use Digital Banking Solutions

March 24, 2020:
National Bank to donate $500,000 to the United Way Centraide Canada COVID-19 Community Response and Recovery Fund

March 23, 2020:
National Bank of Canada announces that it will hold a virtual-only shareholders meeting due to COVID‑19

March 18, 2020:
National Bank Announces Temporary Branch Closures to Limit the Spread of COVID‑19

March 17, 2020:
Canada’s Six Biggest Banks Take Decisive Action To Help Customers Impacted by COVID‑19

COVID-19: National Bank to Offer Support to its Clients

March 20, 2020:
Royal Bank of Canada announces changes to annual meeting

March 18, 2020:
RBC commits $2-million in support of COVID‑19 community response efforts

March 17, 2020:
Canada’s Six Biggest Banks Take Decisive Action to Help Customers Impacted by COVID‑19

To slow the spread of COVID‑19 RBC announces temporary branch closures

March 20, 2020:
Scotiabank announces new options for remote shareholder participation at 2020 Annual General Meeting

March 18, 2020:
Scotiabank announces support for customers, employees and communities impacted by COVID‑19

March 17, 2020:
Canada's Six Biggest Banks Take Decisive Action to Help Customers Impacted by COVID‑19

March 25, 2020:
TD encourages customers to stay home, bank digitally

March 20, 2020:
TD Bank Group to hold virtual Annual Meeting of Shareholders

March 18, 2020:
TD Bank: "The most vulnerable in our communities require immediate support"

March 17, 2020:
Canada's Six Biggest Banks Take Decisive Action to Help Customers Impacted by COVID‑19

TD announces additional customer and colleague response to COVID‑19