Canadians Dominate World’s 10 Strongest Banks With OCBC at No. 1
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Banks from Citigroup Inc. in the U.S. to BNP Paribas SA in France are racing to shed assets and raise money ahead of new global capital rules that start taking effect in 2015. For Canadian lenders, these moves have created the opportunity to go on a shopping spree.
Canada’s six largest banks have spent $37.8 billion since 2008 on about 100 acquisitions at home and abroad, Bloomberg Markets magazine reports in its June issue.