The “Big Five” Canadian banks include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Are there other viable options?
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Canada joins allies targeting Russian banks, pipeline project over growing Ukraine crisis - CBC News + MORE Feb 22nd
Canada joins allies targeting Russian banks, pipeline project over growing Ukraine crisis CBC NewsPM unveils 'first round' of sanctions against Russia CTV NewsCanada sanctions Russia, promises more troops to Latvia after Ukraine incursion CP24 Toronto's Breaking News.... More »
More Canadians are rethinking their bank. Should you? Jul 22nd
Clinton Begin was growing tired of frequent visits to bank branches and calling into the trading desk to check on various transactions. “There (were) a lot of things that just took too much of my time. I was always phoning, always going to visit them. It was always a big deal,” he recalled.
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Federal centre flags signs of cash linked to fentanyl scourge in new alert Jan 31st
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Is Credit Card Debt Good for Canada’s Big Banks?
– ratesupermarket.ca
The dangers of taking on too much debt are a constant narrative in Canada, especially as the economy takes a turn for the worst. Today’s environment of high unemployment, low oil prices and tepid growth forecasts prompt a stern warning for consumers to resist borrowing too much, as exposure to credit card delinquency poses risk to both individuals and the big banks.
However, a new report by Canaccord Genuity analyst Gabriel Dechaine questions whether credit card debt really heightens the risk for banks – and that it could actually have the opposite effect. Says Dechaine, “despite the ‘doom and gloom’, most credit metrics for cards are surprisingly resilient,” adding, “While there has certainly been smoke, (e.g. rising unemployment) we have yet to see much fire.”
His report states “Canadian banks have over $60 billion of Canadian credit card receivables, which represents only 3 per cent of total sector loans. Yet we estimate they generate 10 per cent of sector profits,” adding that as some key businesses experience a slowdown (e…
Is Credit Card Debt Good for Canada’s Big Banks?
– ratesupermarket.ca
The dangers of taking on too much debt are a constant narrative in Canada, especially as the economy takes a turn for the worst. Today’s environment of high unemployment, low oil prices and tepid growth forecasts prompt a stern warning for consumers to resist borrowing too much, as exposure to credit card delinquency poses risk to both individuals and the big banks.
However, a new report by Canaccord Genuity analyst Gabriel Dechaine questions whether credit card debt really heightens the risk for banks – and that it could actually have the opposite effect. Says Dechaine, “despite the ‘doom and gloom’, most credit metrics for cards are surprisingly resilient,” adding, “While there has certainly been smoke, (e.g. rising unemployment) we have yet to see much fire.”
His report states “Canadian banks have over $60 billion of Canadian credit card receivables, which represents only 3 per cent of total sector loans. Yet we estimate they generate 10 per cent of sector profits,” adding that as some key businesses experience a slowdown (e…
