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The overall Banking system (Sector) in Canada explained below: Banking in Canada:
Banking in Canada is widely considered the most efficient and safest banking system in the world, ranking as the world's soundest banking system for the past three years according to reports by the World Economic Forum. Released at October 2010, Global Finance magazine put Royal Bank of Canada at number 10 among the world's safest bank and Toronto-Dominion Bank at number 15. According to the Department of Finance, Canadas banks, also called chartered banks, have over 8,000 branches and almost 18,000 automated banking machines (ATMs) across the country. In addition, "Canada has the highest number of ABMs per capita in the world and benefits from the highest penetration levels of electronic channels such as debit cards, Internet banking and telephone banking". Canadian banks are among the top tax payers.
Top Five Canadian Banks: 1) 2) 3) 4) 5) Royal Bank of Canada Toronto Dominion Bank Bank of Nova Scotia Canadian Imperial Bank of Commerce Bank of Montreal
In a survey by the Strategic Counsel, 81% of respondents believe that prudent lending is a key reason Canadian banks have performed better than their international peers.
Canada has a streamlined bank regulatory system, with two primary regulators: the Office of the Superintendent of Financial Institutions (OSFI) for prudential regulation and the Financial Consumer Agency of Canada (FCAC) for consumer matters. In contrast, the United Stated has a complex network of different regulators.
Canadas Bank Act is reviewed and updated every five years to ensure the regulatory structure is keeping pace with changes in the industry.
Canada has been recognized by the International Monetary Fund and others as having a sound regulatory system.
$8.3 billion in taxes paid to all levels of government. Contributed approximately 3.4% to Canadas GDP. Employed 267,000 Canadians. Full-time bank employment has increased 21.5% in the past 10 years. Provided financing to 1.6 million small and medium-sized businesses. Provided multi-million dollar support for Canada's charities and not-for-profit community groups.
A strong and stable banking system is at the heart of Canadas economic recovery.
Royal Bank of Canada is one of the largest Bank operating in Canada Royal Bank of Canada :
RBC is one of Canada's largest banks as measured by assets and market capitalization, and are among the largest banks in the world, based on market capitalization. This is one of North America's leading diversified financial services companies, and provide personal and commercial banking, wealth management services, insurance, corporate and investment banking and transaction processing services on a global basis.
The bank serves seventeen million clients and has 80,100 employees worldwide. The company corporate headquarters are located in Toronto, Ontario. The bank was founded in 1864 in Halifax, Nova Scotia.
The Top Bank in Canada is the Royal Bank of Canada due to the following reasons:
1. Most Profitable bank. 2. Largest Market Capitalization. 3. Largest Asset base. 4. Consistent long-term performance of stock. 5. Excellent dividend yield and dividend growth rates.
The largest bank is the Royal Bank of Canada (RBC Royal Bank). It's assets total $655 billion with deposits of $398.2 billion.
Period Ending
Assets
Cash & Cash equivalent Short Term investment Net Recievable Inventory Other Current assets 7,741,000 7,244,000 8,377,000 291,903,000 273,104,000 188,960,000
Total Assets
Liabilities
Current Liabilities Accounts Payable Short/Current Long Term Debt Other Current Liabilities 46,502,000 447,200,000 40,494,000 407,391,000 369,759,000 -
Stockholders' Equity
Misc Stocks Options Warrants Redeemable Preferred Stock 714,000 1,295,000 -
Preferred Stock Common Stock Retained Earnings Treasury Stock Capital Surplus Other Stockholder Equity
Currency in USD.
Operating Income or Loss Income from Continuing Operations Total Other Income/Expenses Net Earnings Before Interest And Taxes Interest Expense Income Before Tax Income Tax Expense Minority Interest
Net Income From Continuing Ops Non-recurring Events Discontinued Operations Extraordinary Items Effect Of Accounting Changes Other Items Net Income
6,695,000
5,633,000
5,274,000
(1,810,000) 4,885,000
Preferred Stock And Other Adjustments (260,000) Net Income Applicable To Common Shares 4,625,000 Currency in USD.
Submitted to:
Prof : Kamran Hassan
Submitted by:
Rana Kamran: 3110 M. Usman 3081