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Also Canada's five largest banks, including Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce, have been fighting to merge. There have been a lot of debates of whether to merge or not. A lot of supporting parties have their reasoning as well as the opposing parties.
Today, banks are facing new challenges brought on by rapid technological changes, growing competition from global financial players, and changing customer needs. Bank of Canada Governor David Dodge’s called for allowing bank mergers so that Canadian banks could become more effective players in international financial services to the benefit of Canada as a whole...
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