Traditional banks, telcos among Canada's top valued brands

Canada's 100 most valuable brands are now worth a combined C$396 billion, up 16 per cent from a year earlier, according to a report published by Brand Finance.

The annual ranking pointed to broader growth across the economy, with 14 of 20 sectors posting gains as momentum spread beyond banking. It showed a more diversified pattern of expansion, with insurance, telecoms, utilities and retail strengthening alongside the country's biggest lenders.

TD remained Canada's most valuable brand after its value rose 35 per cent to CAD $31.5 billion. RBC held second place with a 19 per cent increase to CAD $26.6 billion, supported by revenue growth and the integration of HSBC Bank Canada. 

The top five were unchanged from the previous year, underlining the staying power of Canada's largest corporate names. Further down the list, Bell's brand value rose 48 per cent to CAD $13.4 billion, while CIBC gained 32 per cent to CAD $15.8 billion.

Alfred DuPuy, Managing Director of Brand Finance North America, said: "Canada's brand landscape in 2026 reflects both stability and evolution. While the country's largest brands continue to anchor value creation, growth is becoming more diversified across sectors, from utilities to retail and insurance. What stands out is how closely brand performance aligns with structural shifts in the economy and consumer behaviour. Value-driven consumption, energy transition, and digital infrastructure are no longer emerging themes; they are now central to how Canadian brands build strength and sustain growth."

TELUS, with brand value down 5 per cent compared to 2025, came in at CAD $411.6 billion. The report cited the decline amid lower "customer advocacy" and preference despite the company's ongoing investment in digital services, healthcare, and telecommunications infrastructure.

Sector shift

Banking remains the largest contributor to overall brand value. Utilities were the fastest-growing sector in the ranking, supported by policies tied to the energy transition, while telecoms benefited from continued investment in 5G networks and bundled services.

Retail showed a divide between value-led chains and more premium names, reflecting changing consumer priorities. That was most visible at dollar store chain Dollarama, whose brand value jumped 57 per cent to CAD $3.6 billion, making it the fourth-strongest Canadian brand in the study.

Brand Finance linked Dollarama's rise to sustained demand for lower-cost shopping, as well as expansion in private-label products, pricing flexibility and store growth. It highlighted the retailer as one of the clearest examples of how consumer behaviour is reshaping the ranking.

Fastest growth

Insurance provider Intact was the fastest-growing brand in the Canadian ranking, having more than doubled in value to CAD $6 billion. Its rise was driven by underwriting performance, higher premium rates and steady demand for cover as climate-related risks increase.

Its position was also helped by the earlier acquisition of RSA Insurance Group, which expanded its international reach. Investment in digital claims processing and customer experience further supported its standing in the ranking.