Sue's Blog has not yet taken a smack at the big banks but that's going to change. They too must be scrutinized to let people know the economic descrimination we recieve from a protected banking system. Either they buck up or we should find another way to bank - including co-ops and credit unions - although Danny should lead the way in bringing back the Bank of Newfoundland & Labrador.
Don't get me wrong the good ole CIBC, Royal, Montreal, TD, and Scotia Banks like the oil money, the nickel, iron-ore and energy revenues but they continue to provide less than adequate service to the province and the people who own the natural wealth.
The CIBC is now committed to open 70 retail branches in the country.
40 in Ontario
11 Alberta
11 British Columbia
and I'm waiting to see where the remainder will flow.
Have a look at this quote "Toronto ``is still the area of greatest opportunity given its large and growing population of new immigrants and economic wealth,'' Baxendale said. ``Investment in branches in these high-growth markets will be a priority in the years ahead.''
Now immigration matters and growing population from economics...
Read the story from BLOOMBERG
Any chance we will see a boom here from the Canadian banks?
By the sounds of it they will invest in the Caribbean first.
We can lead the country in economic growth and GDP forever but until we turn that into people both staying and coming to our province - especially in the rural areas, we can forget it. Remember poor ole Dalton who thinks Ontario is getting the equalization shaft?
And now we will ship him our energy! Think again Premier.
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