Quote:
Originally Posted by WhipperSnapper
Toronto is the established centre of commerce with 4 to 5 times the population, 3 to 4 times the real gdp and quick access to world markets in NYC. It would be an uphill battle. Any home grown bank would be bought out by the big five the second it becomes viable competition. Any foreign bank establishing a Canadian head office would like choose Toronto for the reason above as well as Toronto being cheaper overall to setup shop. A country this spread out needs large regional head offices though
|
Any new well funded bank backed by deep pockets would likely not accept being acquired at a low valuation for a quick exit. The investment atmosphere in Calgary is prime for a bank to manage wealth and resources for the trillions in capital which will be flowing through the province over the next few years.
The problem with Toronto is exactly that the region is already well covered by the big five.