Financial Services

Canada’s   financial services sector is both diverse and remarkably secure. In 2011, the World Economic Forum rated Canada’s banking system the soundest in the world. 1

“ There are countries with comparable economic characteristics to Canada, but with a lot less friendly environment. In our dealings with the Canadian government, various parts of the government, with the business people, we feel that it’s a lot more congenial to our investments. ”

Gao Xiqing, President, China Investment Corp.

Canada’s thriving financial services sector includes banks, cooperatives, credit unions, insurance companies and brokers, pension fund managers, securities dealers and independent agencies.

  • Moody’s Investment Service ranks Canada’s banking sector first worldwide for financial strength and safety. No major Canadian banks failed during the financial crisis of 2008-2009 and Bloomberg Markets magazine listed four Canadian banks among the ten strongest in the world.2
  • The Canadian financial sector is among the world’s most well-regulated and is responsible for many international best practices. The World Bank ranks Canada fifth worldwide for its strength of investor protection, and assigns Canada a maximum score for depth of credit information.3
  • Between 2003 and 2011, more than 130 foreign companies established greenfield projects in Canada’s financial services sector. More than one quarter of all foreign direct investments in the sector involve technology projects.4
  • A boom in industrial development ensures steady demand for financial services: more than $300 billion worth of mega-capital (in excess of $1 billion each), private sector industrial projects have already been announced in Canada for the current decade. These projects require extensive international financing.

1 World Economic Forum Global Competitiveness Report 2012

2 Bloomberg, Canadians Dominate World’s 10 Strongest Banks (2012)

3 World Bank Doing Business Guide 2012

4 From 2003-2011. fDi Markets database, fDi Intelligence from the Financial Times Ltd