Canada’s business leaders say bank mergers are as important as ever because Canada’s economy needs banks to be allowed to grow large enough to be true competitors in global markets. However, respondents are not optimistic theh Federal Government will be amenable to allowing bank mergers now. In fact, respondents say the minority Liberal Government is less likely to allow bank mergers than the previous majority Liberal Government was.

In considering bank mergers, business leaders say the Government should allow more competition from non-bank financial institutions and foreign banks and keep in mind the financial services needs of small and medium business.

These are the key findings of the weekly on-line survey of CEOs and business leaders for publication in the National Post under the sponsorship of BDO Dunwoody LLP and the Canadian Chamber of Commerce.

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