In The News

Canada's banks buck global trend, declares WSJ

Katia Snukal | Wednesday, December 07, 2011

The Wall Street Journal writes on how and why Canadian Banks have earned their international reputation as "the world's soundest." Toronto-Dominion (TD) is among the Canadian banks whose solid reputation has led to significant growth in the past five years: TD is the number two Bank in Canada and the number 10 bank in the US with more branches south of the border than north.

"Toronto-Dominion Bank and Canadian Imperial Bank of Commerce posted strong fourth-quarter profits Thursday on consumer and business loan growth, benefiting from the continued economic and employment growth in Canada that has kept the housing market strong and consumer confidence stable."

"The country's banks, which have minimal exposure to the debt-crippled peripheral European countries, have been ranked the world's soundest for four straight years by the World Economic Forum, enabling them to build through acquisitions abroad and aggressively compete for market share at home."

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original source Wall Street Journal

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