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Which of the following statements is NOT true? A. The banking sectors in Canada and the...

Which of the following statements is NOT true?

A.

The banking sectors in Canada and the UK are dominated by a few large banks.
B.

Relative to other US industries, there are a large number of small banks.
C.

The US banking industry is less competitive than the banking sectors in other advanced economies
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Answer #1

Answer- Correct option is 'C'

Option (C) ''The US banking industry is less competitive than the banking sectors in other advanced economies'', this statement is not True. Because the U.S banking and financial services have always been an extremely competitive industry. The most prevelent morden banking trend is the shift to digital, specifically online and mobile-first banking. This transformation has lead to increase competition.

Option (A) ''The banking sectors in Canada and the UK are dominated by a few large banks'', this statement is True. The U.K bank sector dominated by a few large banks including the Lloyds groups, Barclays, the royal bank of Scotland (RBS) and HSBC.

Option (B) '' Relative to other US industries, there are a large number of small banks'', this statement is True. A key characteristics of the U.S banking industry also was the very large number of very small banks.

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