The Daily Business News reports every day on Canadian based companies as well as U.S. based firms in our evening market report. But it’s been a while since we’ve taken a broader look at the Canadian market, or done a comparison with how U.S. and Canada are similar and differ.
So, the following interesting Visual Capitalist infographic is a step toward providing a look at life north of the longest peaceful border on planet earth.
As is widely known, Canada avoided much of the turbulence that was experienced in the U.S. during the run up to and since the 2008 mortgage/housing crisis. But like the U.S., affordable housing is an issue north of the border.
Manufactured housing regrettably experiences resistance on either side of the 49th parallel.
Against that backdrop, per RBC Global Asset Management and VC:
“Historically, the Canadian banking system favors a limited quantity of banks, and many branches. It also carries the British influence of valuing stability over experimentation. Meanwhile, U.S. banking is more decentralized and localized, and more open to experimentation. This has led to trial and error, but also the world’s largest bank system.”
“Canada’s banking system tends to promote safety and soundness, while the American system keys in on privacy, anti-money laundering, banking access, and consumer protection measures.”
“The Canadian market is worth C$142 billion (US$111 billion) per year, while the U.S. market is over 10x bigger at US$1.4 trillion. Interestingly, these market sizes explain why Canadian banks often seek growth opportunities in the U.S. market, while U.S. banks just focus on the massive domestic sector for growth.”
Number of Banks
“There are 85 banks in Canada, and 4,938 in the United States.”
“Canada’s five biggest banks hold a whopping 89% of market share, while America’s five biggest banks only hold 35% of market share.”
MHProNews will also take this as an opportunity to link up under related reports below of some of the previously published Canadian-connected manufactured housing news. ## (News, analysis, and commentary.)
(Third party images and cites are provided under fair use guidelines.)
1) To sign up in seconds for our MH Industry leading emailed news updates, click here.
2) To provide a News Tips and/or Commentary, click the link to the left. Please note if comments are on-or-off the record, thank you.