Canadian High Interest Savings Bank Accounts

Globally, HSBC Group is one of the strongest, best capitalized, non-government owned financial institutions in the world. It's probably the safest bank in which to put your money. In addition, it's also the world's biggest financial institution in terms of assets. All of the Big Five Canadian banks are incredibly strong and among the world's strongest and HSBC is even stronger than them – combined. So, basically, as I often tell friends and colleagues, if HSBC Group were to fail, that would mean every other bank in the world would've failed.

The only trouble HSBC has experienced has been with HSBC Finance's Consumer Lending Unit in the United States, which they are now winding down. It's important to note that HSBC Finance is a non-bank lending institution and was such a small contributor to HSBC's revenue globally that it hardly had any affect on HSBC's profits, revenue and capitalisation. It used to be Household Finance, for those of you that may know that name better. All the rest of HSBC is incredibly healthy and don't take my word for it, read the 2008 annual reports and audited financial statements.

Cheers,
Doug