Most Canadians remain confident about the Canadian banking system and feel it's one of the world's strongest, according to a new PricewaterhouseCoopers LLP survey.
More than 90% of respondents to the poll, which was conducted by Leger Marketing, said they felt their deposits were secure with their Canadian banks. More than 80% believed Canada's big six banks are well run.
Almost 85% of respondents said Canada had one of the strongest banking systems in the world. This was true even though they didn't know that the World Economic Forum rated Canada as having the world's soundest banking system.
In comparison, a Worldwide Independent Network of Market Research survey found respondents in countries like the U.K., Germany, France and Switzerland rated their banks a five out of 10 or below for stability.
Despite their resiliency, Canada's big six banks reported a 38% decline in combined annual profit to $12 billion in 2008 from a record $19.5 billion in 2007.