Banca Commerciale Italiana of Canada Ltd was founded on 1 September 1981 through the transformation of a pre-existing financial company, BCI Finance Ltd.; Banca Commerciale Italiana held 100% of the new bank's shares through Banca Commerciale Italiana Holding. The bank opened several city agencies in Toronto, a branch and an agency in Montreal, and a branch in Vancouver.
After the Intesa Group came into being, Banca Commerciale Italiana of Canada's name was changed to Intesa Bank Canada until 2004, when it was acquired by HSBC on 1 June. Indeed, the new banking group, no longer deeming a Canadian presence to be a necessity for its core business, would go on to sell several of its agencies to Hong Kong Bank of Canada, which was expanding rapidly in the country at the time.

ASI-BCI, VCA; April 28, 1980; January 28, 1981; vol. 57, pp. 164, 294
ASI-BCI, VCA; December 21, 1981; vol. 58, p. 17
ASI-BCI, Foreign Service, Subsidiaries, BCI Canada