Canadian Banks: Punching above their weight class?

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08 September 2011

Alexander Malaket examines the state of trade finance and transaction banking in Canada, as Toronto welcomes leaders in the world of finance for Sibos 2011.

Much has been made of the resilience of the Canadian financial sector in the face of the worst global economic crisis in decades, and indeed, the praise and positive messaging around the Canadian regulatory and financial environment was, it appears, well-founded. Canadian banks are among the healthiest and best-capitalised in the world today, and while most Canadian-headquartered institutions remain regionally focused in terms of their activities and presence, there is a decided optimism and cautious pride among transaction bankers here.

Opportunity in crisis

At the risk of overusing an already abused idea – the notion of a seed of opportunity residing at the core of crisis, the match-up between this concept and the experience in Canada practically demands that this be an element of the discussion around trade and transaction banking.

Canadian banks had, as a group, limited exposure to toxic assets linked to sub-prime lending, and, in part because...

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