Strongest Banks In The World? Canadian
Published October 13th, 2008 in Canadian Markets Tags: bank of montreal, bank of nova scotia, Canada, canadian banks, cibc, financial crisis, Global Competitiveness report, national bank, royal bank, sound banks, TD Canada Trust, World Economic Forum.
According to a recently released Global Competitiveness report from the World Economic Forum, Canada has the “soundest” banking system in the world.
With runners up being:
Sweden, Luxembourg, Australia, Denmark, Netherlands
And coming in third:
Belgium, New Zealand, Ireland, Malta
The United States? Ranked 40th. Zimbabwe? 122nd.
The methodology for the results isn’t all that clear but it was based on the opinion of 12,000 executives which ranked banks based on a scale of 1 (insolvent) to 7 (healthy).
So then, why are the Canadian banks getting spanked in the stock market? Here’s a chart of the weakest Canadian bank, CIBC, having fallen about 53% from the when the market topped in October 2007:
In comparison, Bank of America (BAC) has fallen 59% in the same time span and Citigroup (C) 68%. Case of the baby getting thrown out with the bathwater?
bank of montreal, bank of nova scotia, Canada, canadian banks, cibc, financial crisis, Global Competitiveness report, national bank, royal bank, sound banks, TD Canada Trust, World Economic Forum
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Att: RBC Bank President Gordon Nixon - Salary - 11.73 Million!!
$100,000 - MISTAKE (FISHERMEN’S LOAN)
I’m a commercial fisherman fighting the Royal Bank of Canada (RBC Bank) over a $100,000 loan mistake. I lost my home, fishing vessel and equipment. Help me fight this corporate bully by closing your RBC account.
Website http://www.corporatebully.ca
YouTube http://www.youtube.com/CORPORATEBULLY
There is no monthly interest payment date on the contract.
Date of first installment payment (Principal + interest) is approximately 1 year from the signing of my contract.
Demand loan contracts signed by other fishermen around the same time showed a monthly interest payment date on their contract,(agreement).
The lending policy did change at RBC from one payment (principal + interest) per year for fishing loans to principal paid yearly with interest paid monthly. This lending practice was in place when I approached RBC.
Only problem is the loans officer was a replacement who wasn’t familiar with these type of loans. She never informed me verbally or in writing about this new criteria.
Phone or e-mail:
RBC President, Gordon Nixon, Toronto (416)974-6415
RBC Vice President, Sales, Anne Lockie, Toronto (416)974-6821
RBC President, Atlantic Provinces, Greg Grice (902)421-8112 mailto:greg.grice@rbc.com
RBC Manager, Cape Breton/Eastern Nova Scotia, Jerry Rankin (902)567-8600
RBC Vice President, Atlantic Provinces, Brian Conway (902)491-4302 mailto:brian.conway@rbc.com
RBC Vice President, Halifax Region, Tammy Holland (902)421-8112 mailto:tammy.holland@rbc.com
RBC Senior Manager, Media & Public Relations, Beja Rodeck (416)974-5506 mailto:beja.rodeck@rbc.com
RBC Ombudsman, Wendy Knight, Toronto, Ontario 1-800-769-2542 mailto:ombudsman@rbc.com
Ombudsman for Banking Services & Investments, JoAnne Olafson, Toronto, 1-888-451-4519 mailto:ombudsman@obsi.ca
“Fighting the Royal Bank of Canada (RBC Bank) one customer at a time”
Hey kid,
I thought that you’d be actively blogging… it’s a pretty crazy time. I met a trader and told him about your website… he said he didn’t normally read them, but the next day, he told me he loved yours’
I might buy my first stock tomorrow - exciting!!
Shelly