Industry Analysis & Industry Trends
Despite the global financial crisis, the Commercial Banking industry in Canada fared relatively well over the five years to 2014, primarily due to its sound capital requirements and distance from the subprime mortgage crisis in the United States. In general, aggregate increases in domestic household credit; continued proliferation of mobile and online lending; and the introduction of ancillary services have benefited the industry's performance in recent years. Additionally, the industry is forecast to gain momentum over the five years to 2019, largely due to rising interest rates, improving consumer sentiment and rising corporate profit... purchase to read more
Industry Report - Industry Products Chapter
Consumer lending is anticipated to account for 33.4% of total industry revenue in 2014. Principal products in this segment include home equity loans and lines of credit and auto loans, among a range of others. Automotive financing, in particular, has risen in popularity among commercial banks in recent years, highlighted by Royal Bank of Canada's acquisition of Ally Financial's automotive financing division that was completed in February 2013.
Given the solid performance of Canada's economy during and subsequent to the global financial crisis, consumers have been willing to consistently increase their debt levels as a share of disposable income over the five-year period... purchase to read more