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How the Big Five banks are quietly squeezing billions out of Canadians

Canada’s banking sector has a monopoly problem. In contrast with the top five banks in the United States, which hold just over a third of the market, Canada’s Big Five famously dominate around 90% of the market for financial services. They’re also some of the most profitable on the planet, with their Canadian personal and commercial banking services regularly notching profit margins north of 30%. For Corporate Knights, CAMP Executive Director Keldon Bester lays out the cost of the banking oligopoly to Canadians.

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