Companies play a prominent role in developing the economy of any country. They do not only provide goods and services by utilizing resources, but they also offer employment opportunities to the people living in the area. In general, the development of a country is dependent on how well the companies do regarding income generation. Canada has a vast array of companies that play a significant role in the economic development of the country. Below are some of the biggest public companies in the country regarding annual revenue earned in 2019.
1. Brookfield Asset Management
Brookfield Asset Management is a large asset manager with over $515 billion of assets under management across real estate, infrastructure, renewable power, private equity, and credit. In the last ten years, it has more than quadrupled its annual revenue. The company is headquartered in Toronto but has corporate offices around the world. It currently ranks 180 on the Fortune Global 500 list.
2. Alimentation Couche-Tard
At $51 billion in revenue last year, Canadian multinational operator of convenience stores is the 2nd largest company in Canada. The company currently has 15,000 stores in 14 different countries. Founded by Alain Bouchard in 1987, the corporation is headquartered in Laval, Quebec. In recent years it has aggressively acquired convenience stores around the world and currently has around 130,000 employees.
3. Royal Bank Of Canada
With a profit of $9.6 billion in 2019, the Royal Bank of Canada was the country's most profitable public company in Canada. The Royal Bank of Canada has headquarters located in Toronto, Ontario. It is a multinational company that offers financial and banking services and is the largest bank in the country. Founded in Halifax, Nova Scotia, in 1864, has about 1,209 branches that serve an estimated ten million customers. The Royal Bank of Canada operates not only in Canada but also in 40 other countries across the world.
4. Toronto-Dominion Bank
The Toronto-Dominion Bank has headquarters located in Toronto and reported revenue of $41.1 billion in 2019. The multinational bank, together with its subsidiaries, offers both banking and financial services to over 22 million customers and 85,000 employees worldwide. According to Forbes, The Toronto-Dominion Bank is number 46 in the world's largest company in the world. Toronto-Dominion Bank is Canada's second-largest bank regarding market capitalization and among the top ten in North America. The bank was established through a merger of the Bank of Toronto and the Dominion Bank.
5. Magna International
Magna International Inc. is a Canadian auto parts company. It is 5th of the largest company in Canada and is recognized on the Forbes Global 2000. The company is the largest automobile parts manufacturer in North America, with $40.8 billion in revenue. It produces automotive parts supplied to GM, Ford, BMW, Mercedes, Volkswagen, and Tesla Motors, among others.