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In addition, competition between banks for retail deposit customers increased. During the Second World War , all activity of the bank was focused on maintaining its business and aiding in the war effort. Features a list of domestic and international banks operating in Canada, timeline of the banking industry, useful consumer information, a glossary, and related resources. Thanks for contributing to The Canadian Encyclopedia. As the banking industry grew in size and importance within Canada, the Bank of Montreal joined with all other banks to create the Canadian Bankers Association in