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Canada's Banks Soundest for Third Year, Forum Says

As reported by Business Week, Canada's banking system was recently ranked the world's soundest by the World Economic Forum. This is the third straight year Canada had topped the Geneva-based organization's list.

"The study, released today by the Geneva-based oragnization, places Canada's banks ahead of New Zealand, Australia, Lebanon and Chile in its executive opinion survey. Canadian lenders including Royal Bank of Canada and Toronto-Dominion Bank withstood the financial crisis without taking government bailouts, and recorded only a fraction of the $1.3 trillion in writedowns taken by banks and brokers worldwide."

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original source Business Week

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