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Banks as utilities: A new paradigm for Canada’s Big Six Add to ...

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Canadian bank executives are slashing like crazy, racking up $2-billion in restructuring charges over the last two years because they are worried about revenue growth. And in the face of such danger, Big Six share prices are steadily creeping back toward their record highs.

With technology reshaping the way we live, from how we deposit cheques to the way we manage our retirement savings, and with regulators piling on rules to make Canada’s financial institutions more bulletproof, the country’s largest banks are revamping their businesses, largely by taking an axe to their cost structures.

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