Canadian banks repayment of government bailout money?

Have any of the big banks in Canada re-payed the government bailout money they received during the financial crisis?

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  • Canadian banks never received bailout money.

    Since there are only five major chartered banks in Canada and they have such a massive share of the market, they are limited by federal regulations in terms of investments and holdings within the stock market. They are also more conservative in nature and never allowed sub-prime mortgages or those without down payments. A few, with some holdings in the US, took a slight hit, but most of them continued to make money through the financial crisis, foreclosures were never a problem, and there never was a realty crash. While the US and European downturn lowers home prices slightly it was a gradual decline (5% to 10%) in most markets and Vancouver, Toronto, and some others actually continued going up.

    In addition, because the Canadian banks pretty much sailed through the financial crisis, many investors immediately bought their stocks or moved money into Canadian realty, businesses, money funds, etc.In 28, my bank raked in something like $3.2B in profits, the Royal Bank something like $4.2B, Scotiabank something like $930 million, etc.

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