The State of Canadian Bank Board Governance (2025 TSX Data) - Aprio

The State of Canadian Bank Board Governance (2025 TSX Data)

Explore the latest governance metrics, identify sector-specific risks, and benchmark your board’s performance using data from the 2025 Globe and Mail Board Games.

As Canadian boards navigate increasing regulatory scrutiny, institutional investor demands, and complex operational risks, sector-specific governance benchmarks have never been more critical. We’ve extracted the exact performance metrics for the Bank sector to highlight where leaders excel and where vulnerability lies.

Top 10 Benchmark: Bank Performers

Company Score (/99) YoY Change Board Comp (/46)
Toronto-Dominion Bank TD-T 99 +3 45
Manulife Financial Corp. MFC-T 98 +1 45
Bank of Nova Scotia BNS-T 97 -1 45
Canadian Imperial Bank of Commerce CM-T 97 -1 45
Royal Bank of Canada RY-T 97 -2 46
Sun Life Financial Inc. SLF-T 97 -2 44
iA Financial Corp.oration Inc. IAG-T 96 +1 44
National Bank of Canada NA-T 96 +2 45
Bank of Montreal BMO-T 95 -3 43
Intact Financial Corp. IFC-T 93 -1 42

The Sector Gap: Maintaining Rigor Under Regulatory Pressure

Canada’s financial services sector leads the nation in governance, with all Big 6 banks scoring between 95 and 99. However, OSFI’s evolving expectations for risk oversight and the increasing complexity of cybersecurity mean that manual board processes are no longer legally defensible. The primary gap isn’t independence—it’s operational resilience.

How Aprio Closes the Gap

Aprio provides bank-grade security and localized Canadian data hosting. Features like immutable audit trails and securely sequestered sub-committee folders ensure compliance with OSFI guidelines while keeping directors laser-focused on risk oversight.

Secure Your Board’s Operations

Join hundreds of leading Canadian organizations using Aprio to streamline meetings, centralize secure communications, and maintain unassailable compliance records.

See How Aprio Helps Bank Boards

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