Facts & Figures

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, The Canadian Financial Services Sector, June 2005.

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.

Previous year statistics on contacts received and the most common questions raised by consumers are available in our annual reports.