Canada’s banks are the worldwide No. 1

Report 2/2010
Thanks to the close leadership of the Canadian banking authorities, Canada's banks have withstood the effects of the economic crisis almost untouched.
Mergers were prohibited as early as the 1990s, while in 2005 the banks were instructed to back out of structured products and not to invest money in securitized loan portfolios – which, as we all now know, were among the catalysts of the global financial crisis.
So it comes as no surprise that the World Economic Forum awarded the Canadian banks a score of 6.8 on a scale of 1-7 – the best grade in the world.