Is the Canadian financial system in trouble?
2023 marked a significant year for the Canadian banking system. As we witnessed the downfall of a few regional banks down south of the border, many Canadians became concerned about the downfalls rippling through up to Canada.
In addition, more concern and questions have been rising in the past few weeks as we hear of a few of the large financial institutions cut employee head count.
In order to understand the difference between our banking system and that of our southern neighbor's, we invited Teresa Lesyk, Director & Head of Cash Management with the National Client Group here at National Bank, to take us through a deeper and more comprehensive analysis of the key differences.
With Teresa's guidance and expertise, we learned that Canada has a much more centralized and robust financial system than that of the U.S., inevitably making it much more stable. The very nature and structure of our banking system is very different and hence generally does not go through the same headwinds as their peers down in the U.S.
#canadianbanking #financialinstitutions #nationalbankofcanada
