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Strongest Banks In The World? Canadian at Trader’s Narrative





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global competitiveness report world economic forum 20089According 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:

cibc 2007 to 2008 october financial crisis

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?

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2 Responses to “Strongest Banks In The World? Canadian”  

  1. 1 Paul Fraser

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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”

  2. 2 Shelly

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    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

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