Did you know?
In 2003, Canada's financial services sector:
- employed more than 600,000 Canadians;
- provided a payroll of more than $35 billion;
- represented 6% of Canada's gross domestic product; and
- contributed close to $13 billion in tax revenue to all levels of governments.
Banks represent the largest portion of the Canadian financial services sector, reporting $1,257 billion in domestic assets in 2003, or over 55 per cent of the sector's total assets in Canada. Mutual fund companies and life and health insurers were next in terms of asset size, reporting $439 billion and $315 billion in domestic assets respectively in 2003, followed by the credit union sector at $155 billion and P&C; insurers with domestic assets of $88 billion.
Canada's banks and life and health insurers are significant participants in international markets. The six largest banks generated 33 per cent of their net income from foreign sources in 2003, while 58 per cent of the life and health insurance sector's premium income was derived from foreign sources.
Source: Department of Finance Canada.
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FCAC’s 2003 Consumer Contact Centre Client Survey
In 2003, FCAC hired an independent research company to survey Canadians who had telephoned its Consumer Contact Centre. The purpose of this survey was to obtain feedback from consumers about the service they received from FCAC; to learn about the financial service issues that are important to them; and to obtain a better profile of FCAC’s clientele.
FCAC will repeat the survey in 2005 and the results of the 2003 survey will serve as a benchmark for evaluating FCAC’s services.
About Consumers' Access to Basic Banking Services, the
Use of Micro-Credit, and the Awareness of FCAC
In February 2005, FCAC commissioned Ipsos-Reid to conduct a consumer survey to ask them about their access to basic banking
services, their knowledge of FCAC, and whether they use micro-credit (e.g. payday loans).
FCAC Quarterly Statistics
FCAC receives many calls, letters, e-mails and in-person visits from consumers on
a wide variety of topics. FCAC Quarterly Statistics deal with the most common questions
raised by consumers who have contacted us.
Current issue:
For the Period April 1 - June 30, 2006
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