Tangerine (Scotia) is far worse than ING was
There are numerous issues in how service has deteriorated since the take over
PC (CIBC) also has its own set of issues
Sad no small banks left, just credit unions now
This is true. But banks like PC, Tangerine, the now defunct Amicus were not conceived or intended to be highly attractive and profitable as independent entities. Why would a parent bank grow a subsidiary that would compete so hard it would prevent the parent corp from gathering the target group under it's own umbrella where it could market and sell really profitable services? That's why Amicus was reabsorbed by CIBC. It was too good, and CIBC couldn't move enough customers up the chain to its own products/services. Essentially it was robbing itself of the truly profitable opportunities. You think BNS wants Tangerine to be highly successful in terms of profit? Fuck no. It's just intented to be a simple but effective net cast in to the water to gather fish, all on a bare bones operating model and product portfolio. Once the pond has been fished dry, BNS will either dissolve, sell, or absorb, and it won't take 10 years to happen either. If it nets some marginal profit in the meantime, that's all good too, but not the primary goal.
