While Wall Street and Bay Street think the Canadian Banks are “sleepy”, Global Finance has allotted each of the top five Canadian Banks a spot on their list of fifty safest banks in the world. Oddly enough, the same conservative practices give our banks both statures.
It’s a Canadian thing for sure. Our banks don’t indulge in high-risk investment opportunities, they don’t lend money to people who can’t afford to pay it back and they certainly don’t offer us huge interest rates on our savings and investment accounts. The top five have always been relatively safe, but in case you are wondering where your bank is on the list, here it is:
- #10 – Royal Bank of Canada
- #14 – TD Canada Trust
- #22 – Scotiabank
- #31 – Bank of Montreal
- #37 – Canadian Imperial Bank of Commerce
Canadian banks haven’t done anything differently for all five to make the list this year. It’s actually a result of other banks around the world going broke, that freed up spots on the list for all five of our banks. Hollow victory perhaps, but we’ll take it anyway.
