CALGARY — A few years ago with the advent of online banking, there was speculation that branch locations in the industry in the future would be a thing of the past.
Read more: http://tinyurl.com/n3ugncd
Tag Archives: banking
Avoiding bank fees can help protect your savings
If your checking account balance is unexpectedly low, bank fees may be to blame. But that doesn’t mean you have to pay up.
Read more: http://tinyurl.com/ozdodhb
BMO extends $1B more credit to Alberta businesses affected by the floods
BMO Bank of Montreal has boosted its credit available to businesses in Alberta in an effort to help with flood recovery efforts.
Read more: http://tinyurl.com/kt8a8pc
First Calgary Financial reports 79th consecutive profitable quarter
CALGARY — First Calgary Financial has recorded its 79th consecutive profitable quarter.
The financial institution has announced that unaudited adjusted net income from operations before taxes was $7.1 million in its second quarter that ended April 30. This compares with $8.98 million last year.
Read more: http://tinyurl.com/pe24drb
BMO to open ‘studio’ branches s more customers bank online
The Bank of Montreal will open tiny branches with a handful of employees giving “face-to-face” information on topics such as mortgages, with most customers now banking online.
BMO is opening what it calls a “studio” branch next week in a Montreal condo building and expects to open 10 to 15 of these micro branches at a time across Canada and in the U.S. Midwest, CEO William Downe said Monday.
Read more: http://tinyurl.com/blmt3ds
Most Canadians’ deposits not at risk if bank fails — but check CDIC protection: Roseman
Some Canadians rushed to their banks to check their deposit protection after hearing about the federal budget released last month.
The government said it intended to implement a comprehensive risk management framework — “a bail-in regime” — for Canada’s systemically important banks.
Read more: http://tinyurl.com/cel46uw
Neil Macdonald: Canada’s ‘Cyprus solution’ for bank defaults
Buried deep in last month’s federal budget is an ambiguously worded section that has roiled parts of the financial world but has so far been largely ignored by the mainstream media.
It boils down to this: Ottawa is contemplating the possibility of a Canadian bank failure — and the same sort of pitiless prescription that was just imposed in Cyprus.
Read more: http://tinyurl.com/bseelcj
How Export Development Canada is the next big bank in waiting
Canada’s notoriously oligopolistic big banks have long dominated the financial industry largely thanks to one simple fact: There’s just six of them. But they could soon become seven if a one sleepy Crown corp has its way.
Read more: http://tinyurl.com/afn9juh
RBC to close consumer savings accounts at recently acquired Ally Financial
TORONTO — Royal Bank of Canada is shutting down the consumer accounts of Ally Financial, and integrating its operations, after acquiring the Canadian auto finance and deposit business earlier this month.
The bank said Tuesday customers will no longer be able to open new accounts with Ally effective immediately. It also plans to close down the high-interest savings accounts operated by Ally on April 30.
Read more: http://tinyurl.com/b8ec4uc
Canada’s banking giants stand to gain as global heavyweights face downsizing
It wasn’t too long ago that Canada’s largest banks pined for membership in the exclusive and powerful club of the world’s largest financial giants. Now that the 2008 financial meltdown is transforming megabanks from once-mighty emblems of national pride to international pariahs, they could well end up becoming fixtures among their global peers.
Read more: http://tinyurl.com/bhmtu3b