So you won’t be surprised that the Royal Bank, TD Bank and Bank of Montreal made the top five – but a couple of insurers managed to crack the top 10 among Canada’s most profitable companies.
Manulife Financial showed a profit of $3.13 billion, a whopping 73 per cent jump in profit according to the Globe and Mail’s Report on Business Magazine’s Top 1000 largest publicly traded Canadian companies, coming in seventh in the 2013 rankings – narrowly being nudged out by the Canadian Imperial Bank of Commerce, which recorded a profit of $3.4 billion.
Manulife’s revenue of $18.89 billion was a bit of a disappointment, dipping 35 per cent from the previous year, giving the company a revenue rank of 20.
The next closest company was another life insurer, Great-West Lifeco, that posted a profit of $2.4 billion and a revenue of $26.5 billion to place tenth – coming up three spots from its 2012 ranking of 13th.
Manulife had been in the 17th spot in 2012.
Sun Life Financial dipped from 19th spot to 24th with a 2013 profit of $1.06 billion and $14.16 in total revenue – notably taking a profit hit of minus 37 per cent.
The Top 10 companies are:
1. Royal Bank of Canada
2. Toronto-Dominion Bank
3. Bank of Nova Scotia
4. Bank of Montreal
5. Suncor Energy
6. Canadian Imperial Bank of Commerce
7. Manulife Financial
8. Imperial Oil
9. Canadian National Railway
10. Great-West Lifeco
