Comparison by size. |
The large banks gained the most as this video demonstrates.
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Yet, within size groupings, there was a lot of variation.
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TD and RBC were the big winners. |
As this chart shows, TD and RBC were the big winners.
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Somehow these two managed to capture the lions share of the deposits.
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Canadian Tire had the most growth |
$508 million in additional deposits, that is how much CT took in. Among the mid sized banks, Canadian tire gained the most.
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A 1.9% savings interest rate and a strong broker network gave Canadian Tire an advantage.
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The mid sized winners. |
You can see that the pattern of growth started before the pandemic.
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And continued for several quarters.
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Small bank comparison |
Versabank was a clear winner among the small banks.
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With 26,000 clients and 220 brokers, Versabank has grown deposits consistently.
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FirstNations vs Versabank |
Both banks have done well.
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This chart shows their performance.
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