Geography 3422A/B Study Guide - Commerce Bancorp, Ally Financial, Market Capitalization
23 Feb 2013
School
Department
Course
Professor
Document Summary
Canada"s two biggest banks agreed to fork out about billion in separate deals one for a big u. s. credit-card portfolio and another for a canadian auto-lending business. In the last two years, canada"s six largest banks have made 50 acquisitions, with a total disclosed deal value of almost billion. They have been snapping up assets that their bigger international competitors are either passing over or selling themselves. Ally is a former auto-lending arm of gm and is selling assets to pay back a us government bailout: bank of nova scotia said it would pay . 17 billion for the. Amid worries of increasing debt among canadians, canadian banks have been hunting for ways to bolster domestic operations and branch out globally, where growth opportunities are more promising. Td: 2008, td bought new jersey-based commerce bancorp. It focused a large part of its growth strategy in the us.
