1 November 2012
In addition to it, in August Bank of Nova Scotia purchased Canadian online operations of Dutch bank ING Group for $3.1 billion.
And both purchases were made amid the bidding wars among the Canadian financial institutions.
Moreover, last week Toronto-Dominion Bank decided to purchase discount retailer Target Corp’sU.S. credit card portfolio.
All of the above points to the conclusion that we might see bigger competition not only in the mortgage market, but also on the consumer credit market. Bigger competition means better choices and cheaper pricing for all of us!