This article provides a by-the-numbers look back at Canadian finance in 2024, highlighting key statistics and events that shaped the industry. Some of the notable points include:
- RBC’s market capitalization reached $246 billion after an almost 30% climb in 2024.
- TD Bank Group lost around 10% of its value over the year, resulting in a market capitalization of around $133 billion.
- RBC acquired HSBC Canada for $13.5 billion and took on around 780,000 customers.
- The federal government introduced regulations capping the maximum legal interest rate lenders can charge at 35% on an annual percentage rate.
- Scotiabank’s subsidiary sold its shares in Israeli defense contractor Elbit Systems Ltd., worth around US$144 million.
These statistics and events demonstrate the significant changes and developments that occurred within Canada’s financial industry in 2024.
