Over the past year, turbulence in global credit and stock markets has negatively impacted the performance of all financial institutions, including those in Canada. After record-breaking earnings in 2006, Canada’s banks experienced slower growth in 2007, with year over year growth of just 2.2%, compared to 50% in the previous year. How is Canada’s banking industry weathering the global financial storm, and what does the year ahead look like?
This publication provides an analysis of the 2007 financial results for the Canadian banking industry. In addition, it examines the challenges that lie ahead: how can banks be part of a sustainable future, how can they attract and retain the best talent, and how can they streamline the regulatory burden? It also addresses the demographic and regulatory changes that will affect the bottom line not just in 2008, but in the years to come.
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