It should come as little surprise that Canada is home to a number of valuable brands. However, what might come as a shock is just how much we apparently love banks. 

According to the newest Brandz rank announced by advertising firm WPP and Kantar on October 27, Canada's top 10 leading brands include five big banks and three major telecom businesses.

Of the 10, Tim Hortons and Lululemon were the only companies from different categories such as food and retail that made the cut.

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Canadian banks tend to dominate any valuation study, due to their size. Scott Megginson, President of Kantar Canada

Royal Bank of Canada took the top spot in the ranking, with TD bank right behind.

Other honourable mentions for banks include Scotiabank, CIBC and BMO who were also in the top 10.

Also up there were telecom companies like Bell coming in third place along with Rogers and Telus making the cut.

Interestingly, lots of massive Canadian brands are still unfamiliar to those outside of the True North, especially when compared to brands that are global phenomenons and more recognizable, the report said. 

Despite Tim Horton's managing to make it to the 7th spot, it is actually a great example of a Canadian company, and delicacy, that is mainly flourishing just within our northern walls.

Meanwhile, a company like Lululemon that was founded in Vancouver, has worldwide acclaim and is considered a big success story as the third-largest apparel brand in the world by sales, according to Bloomberg