Although Canadian banks are involved in almost all areas of the financial system, which of the following is their core activity?
A)stock market investment activity
B)retirement planning
C)wealth management
D)taking deposits and lending funds

Question

Quizplus · Accepted Answer

Taking deposits and lending funds is the core activity of Canadian banks. They offer a variety of services such as loans, mortgages, and credit cards, but their main function is to take deposits from customers and use that money to lend to other individuals or businesses. This is what generates the bulk of their income and is the foundation of their business model.

Although Canadian Banks Are Involved in Almost All Areas of the Financial