Overall, Canada’s financial sector raised about $552.8 billion through 946 deals in 2024, the highest amount raised in the past decade and up 19.5% from $462.4 billion in 2023, according to Financial Post Data.
Royal Bank of Canada participated in the highest number of deals and helped raise the largest amount of capital — $79.2 billion — in 2024, earning it a market share of 14.3% of all capital raised. TD Securities was second with a market share of 13.3%, raising about $73 billion through 253 deals, while National Bank Financial was third, raising $61.56 billion through 199 deals, giving it a market share of 11.1%. CIBC World Markets and BMO Capital Markets raised $52.7 billion and $47.8 billion, respectively, giving them respective market shares of 9.5% and 8.7%.
It was a tale of two very different stories for Canadian capital markets in 2024, with activity in the debt markets reaching record highs amidst a continued decline in the equity space.