While the Canadian economy struggles, the Big Five Banks see a profit of $22 Billion
In the news today: “Big banks made $22.4B in 2011.” In a nutshell:
- Canadian Bank profit in 2011 was $22.4 billion, 15% more than the last year.
- Last years profit was “only” $19.5 billion.
- One of the predominant contributors to growth was loans; the other was retail growth.
Statistics on Canadians’ debt load
You are not alone!
Here are some interesting numbers from Statistics Canada. Read more
The state of Canadian household debt
The Certified General Accountants Association of Canada (CGA) released a study in 2010 on Canadians and their debt. Read more