Four of Canada’s biggest banks are among the top 10 in a global ranking of the strongest banks according to data compiled by Bloomberg Markets magazine.
CIBC, Royal Bank, Scotiabank and TD were ranked 3rd, 4th, 7th and 8th, respectively, on the publication’s annual ranking of the world’s strongest and safest lenders.
In an article on the list, Bloomberg Magazine noted: “Some of Canada’s banks also fell, as the industry was hit by ratings downgrades and hurt by a slowing economy and an increasingly risky housing sector. An exception was Bank of Nova Scotia (BNS), or Scotiabank, which moved up to No. 7 from No. 18.”
More information:
Bloomberg Markets & Bloomberg Rankings – The World’s Strongest Banks – here
Bloomberg Magazine – Qatar Bank No. 1 Supplanting Singapore as Canada Slips – here
CBC News – Royal, Scotiabank, CIBC and TD score high on Bloomberg ranking – here
Globe and Mail – Another hedge fund manager bets against Canada’s big banks – here
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