The Canadian retail banking system is among the safest ones worldwide. In fact, it has been in top position among world banking systems in terms of safety in the last three years. Two of Canada's best-known banks rank in the top 15. There are 8,000 bank branches, with many more ATMs on the territory of Canada.
Since the Canadian government banned large bank mergers, these institutions started to expand and operate on an international level.
The five biggest banks in Canada are Toronto Dominion Bank, RBC, Bank of Nova Scotia, the Canadian Imperial Bank of Commerce, and Bank of Montreal. RBC has around 17 million clients and almost 100,000 staff throughout the world. Headquartered in Toronto, it has 1,209 branches in Canada alone. It has two subsidiaries as well. The Dominion Securities is an investment brokerage company, while the RBC Capital Markets deals with corporate clients worldwide. The retail banking segment of the RBC, however, comprises just 22.6 percent of its total revenue. Bank of Nova Scotia is another big financial institution, offering the full range of investment, corporate, commercial, and retail services. The bank features a variety of financial products, including credit cards, mortgages, electronic banking, money transfers, and a lot more. With a large variety of services offered, the Bank of Nova Scotia takes pride in being one of the biggest lenders on the North American continent.
debt consolidation loans for bad credits, quick cash payday loan, apply for credit card with bad credits,
Checking and savings accounts are still at the core of clients' relationships with retail banks in Canada. A lot of customers also use lenders and other financial institutions for services like insurance, investment products, credit cards, and more. A recent study shows that a lot of clients also use banks for borrowing, investment and insurance via an affiliated establishment. Some 76 percent of Top 5 bank clients have a loan at the bank where they also have a checking or savings account, 20 percent have some sort of an insurance product, and another 40 percent dispose of investment products. In terms of the middle market, around 70 percent of clients have a loan as well as a deposit. Another 27 percent of bank clients have investment products and 16 percent have insurance products. Most banks aim to develop their relationships with customers through retail banking and eventually enhance them to include further services, thus giving clients an incentive to move all their financial assets and holdings to the bank in question. This is a perfectly achievable goal, especially considering the level of safety the Canadian bank sector provides. Banks provide innovative services and reliable products, such as no-fee banking and electronic statements, and thus help expand client relationships with the establishment.
According to the study, TD Canada Trust gets the highest marks in terms of client satisfaction among the top 5. Satisfaction is measured by several factors, including transactions, products, fees, problem resolution, and account setup. In terms of middle-size retail banks, the highest marks go to President's Choice Financial.
Need Money? Let Me Help You
Take advantage from the innovative CreditGraph lending technology today.
cash advance loans direct lender
Up To $1500 Quick Loan Online. No Hassle. Fast Instant Approval. Withdraw Your Cash. Get Cash Fast Today!
No comments:
Post a Comment