Aug
13

What American Bankers Can Learn from Canada

By
– Business Week

The battered U.S. banking system is showing signs of a turnaround. That’s welcome news around the globe, and certainly here in Canada, where we rely heavily on our southern neighbor and largest trading partner.

A number of institutions, including JPMorgan (JPM), Bank of New York Mellon (BK), Goldman Sachs (GS), and U.S. Bancorp (USB), have opted to return their TARP funds to the U.S. Treasury, while in recent weeks banks have raised tens of billions of dollars in fresh equity to shore up capital levels. Private equity firms are starting to take over distressed institutions, a sign that the smart money is betting on a return to profitability. And loans are flowing to small businesses and homeowners as well as to large corporations.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.businessweek.com/investor/content/aug2009/pi20090812_141235.htm
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