Comments on: Comparing Canada’s Big 5 Banks

By: Financial Cents

Financial Cents — Sat, 26 Dec 2009 23:11:49 +0000

Yeah, all three of those “big 5″ are good DRIPs I think. I’m going to try and contribute a few thousand to each in 2010.

Staying with financials, I like SLF too, although I’m not sure I’ll have the cash to contribute to that AND the banks!

I’m looking forward to 2010 to start my Waterhouse TFSA and hold a bank stock in there too!

By: MoneyEnergy

MoneyEnergy — Sat, 26 Dec 2009 19:18:05 +0000

I DRIP each of those – sounds good to increase holdings of each, with consideration of their current differences, of course. BMO has improved recently and BNS has just expanded into Dubai – the first Canadian bank to have done so.

By: Financial Cents

Financial Cents — Sat, 26 Dec 2009 18:10:15 +0000

Is anyone DRIPing CM, BMO or BNS?

I’m going to increase my holding of each in 2010, and I’m wondering if others are going to do (or are doing) the same?

Happy Holidays!

By: MoneyEnergy

MoneyEnergy — Sun, 29 Nov 2009 18:41:36 +0000

@FS – Thanks. What kind of firm are you at? Send me an email and we can discuss further.

By: Financial Samurai

Financial Samurai — Sun, 29 Nov 2009 18:16:21 +0000

Thnx MoneyEnergy for your thoughts. What about you though? What are you looking at getting into post grad school? Is it safe to assume something in investments/finance given the topics of your blog? I think you’d be really good at it since you’re so into investments!

I’d love to get an idea how whether you’re hearing fellow classmates land summer internship positions and stuff. I know my firm is stepping up hiring out of B-school, as I’ve been to a couple b-school career fairs already.

Rgds,

Sam-urai

By: MoneyEnergy

MoneyEnergy — Sun, 29 Nov 2009 18:09:45 +0000

@FS – I can’t directly speak as to how many Canadian MBA students end up looking at US banks for starting careers – statistically, worldwide, there is more of a tendency for a certain percentage of non-U.S. students to look to the U.S. for career advancement, as I am sure you must know – in all fields, not just banking. It does not surprise me that not many U.S. MBA students even think of or are very aware of some of the world’s top banks in Canada. … Thicken is right about RBC as the #1-2 player in most categories.

By: Financial Samurai

Financial Samurai — Sat, 28 Nov 2009 20:26:56 +0000

Thicken – Thanks for the insight! It’s interesting too here in the US, that most who want to get into finance don’t have RBC, CIBC etc in their top picks. So, i’m wondering if that’s the same for Canadian students who want to get into the industry, not having US banks in their top picks.

I’d love to get MoneyEnergy’s perspective given she’s in grad school, but I guess she’s away this weekend. Ahh to be a grad student again. It was so much fun, without any responsibilities (except for getting a job) in the world! :)

Thnx again!

By: Thicken My Wallet

Thicken My Wallet — Sat, 28 Nov 2009 19:57:56 +0000

Sam- When the government allowed plain old banks to purchase i-banks, the race was on to purchase Wood Gundy which was seen as the prize catch. CIBC outbidded RBC for it who “settled” for a white shoe firm known as Dominion Securities (”DS”). The Wood Gundy exeuctives basically took over CIBC and, depending on your point of view, either turned the bank into too much a risk taker or grew the bank.

DS also took over RBC but they built themselves a much larger and more stable franchise. RBC DS (as their investment bank division is known) is consistently on top in the dealer charts both in terms of number and size of underwritings.

DS has a reputation, deserved or not, for being conservative in corporate culture. It recently acquired a spot as a primary market dealer for the Federal Reserve of NY and I believe has many trading seats outside Canada than in Canada. I can’t tell you if its comparison with GS is valid but Big Blue (as RBC is known in some circles) is the dominant player in all things banking in Canada. It is either 1 or 2 in almost all categories.

By: Financial Samurai

Financial Samurai — Sat, 28 Nov 2009 03:57:25 +0000

MoneyEnergy – Did I ask a wrong question? I read your about page and it says you are a grad student, however it seems like you are out of school already with your market commentary (compliment!).

I’m just curious to know what you want to do once you graduate, and how the job market is from a student’s point of view?

By: Ray @ Financial Highway

Ray @ Financial Highway — Thu, 26 Nov 2009 18:18:24 +0000

I am a big fan of Canadian banks not sure however if their strength is due to the strict government regulations or if it is due to excellent management. I think we may need some more competition in Canada from a consumer perspective but as a shareholder I enjoy my strong dividends :) As for expansion Canadian banks have been doing a good job picking up banks in the US, TD continues a fairly aggressive (relatively speaking) US expansion plans.