And 74% of businesses are confident in their own organization's outlook, a 2% increase over the previous year.
Why these institutions will be able to persevere
There’s been some anxiety over the state of the housing market and consumer debt moving higher. But despite this, Canada’s banks were still solid investments last year.
In light of the recent tragedy in the Philippines, a Canadian investor activist group is calling for banks to stop charging fees so that money can get to victims more quickly.
The Financial Stability Board’s annual ranking of banks important to the financial system has left Canadian institutions off the list—a snub they can use to their advantage, reports the Financial Post.
Banks are slowly entering the seg fund arena, with Bank of Montreal the latest to make a foray.
Today Brian Porter replaces Rick Waugh as Scotiabank’s CEO.
BMO is on track to be Canada’s top bank stock this year, according to a Bloomberg report.
Barclays is reportedly being hit with a £50 million fine (US $79 million) from the UK’s Financial Conduct Authority and Serious Fraud Office. But the bank plans on fighting the penalty, reports the Guardian.
Five years after Lehman Brothers declared bankruptcy on Sept. 15, 2008, the global financial landscape has altered dramatically, writes The Economist.