From a policy perspective, the greatest concern was that persistent large deficits were pushing Canada’s debt-to-GDP ratio to unsustainable levels and driving up risk premiums in our interest rates. The economic costs of Canada’s rising indebtedness became very clear after 1991, when our inflation rate came down quickly, but medium- and longer-term interest rates were slow to respond.
Once the data base and track record is established, a multitude of financial services can be offered including savings, remittance, transaction banking such as receipt of salaries, pensions and payments for utilities, loan including home loans, insurance and MF products. Here the branches can render more business and variety of products to existing clientele as also source new customers within the area of operation.