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How big is your... bank? $ize matters in the banking world if you want to score big money overseas, tower above other global megabanks and make a lot of money on bank stocks. But for the average Canadian, the proposed merger of the Royal Bank and the Bank of Montreal probably won't offer any good reason to alleviate the miasma of hate surrounding the industry any time soon. >> "If you look at the arguments they're using, they're very much centred around issues that are fairly strongly removed from the average Canadian--namely becoming globally competitive. The merger is really only about playing in the international field," says Murray MacAdam of the Canadian Community Reinvestment Coalition, a group seeking greater accountability from Canadian banks. >> MacAdam thinks the real revolution in banking would come if a bank announced a basic, low-frills account accessible to the 400,000 Canadians now without any bank account at all. Low-income people are often inhibited from banking with requirements for ID presentation, cheque freezing and minimum deposits. >> The Royal Bank and Bank of Montreal claim their combined bigness will improve customer service and pave the way for more face-to-face relationships with customers. MacAdam predicts just the opposite, as branches close and "access points"--ATMs and telephone banking systems--proliferate. --Jacquie Charlton
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