Bank mergers not good for Canadians, says Martin

from CBC.ca archives | Mon, 14 Dec 1998

OTTAWA - Finance Minister Paul Martin has rejected the proposed bank mergers.

Speaking at an Ottawa news conference Monday morning, Martin said he would not allow the mergers to proceed because they were not in the best interests of Canadians.

The Bank of Montreal and the Royal Bank had announced plans to merge last January, followed by CIBC and the Toronto-Dominion in April.

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