Friday, November 7, 2008

Canada is the first!

Many people are concerned about their banks in these days. I am dealing Toronto houses for sale so for me, a sound bank system is extremely important - real estate business and banks are very closely bounded.
Full of negative thoughts and dubitations, you should open World Economic Forum's survey The Global Competitiveness Report 2008-2009, because in chapter 8.07 (named The soundness of banks) you can find very interesting information. Canadian banks placed as the soundess in the world!
Around 10000 proffessionals were asked between the years 2007-2008 to evaluate banks in more than 130 countries. They should give 1 to 7 points (the more the sounder bank). Canada recieved average score 6.8 points and placed 1st! This is definitely nice information, which may fortify people's trust in our bank system - and positive thinking and trust is the main core for the banks.
You may think that business proffesionals had tendency to overvaluate banks in developed countries, but if you look at the results you will see it's not true. Germany placed 39th, USA 40th and UK even 44th, beaten by Botswana or Senegal for example.
The worst banks are in Algeria (3.9 points, last place), Libya (4.0), but also Argentina (4.2), or Russia (4.86 points, placed 107th).

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