...Canada's six large domestic - systemically important banks (D- SIBs), together with Desjardins Group (DESJ), generate the bulk of banking-related activity in the nation's concentrated banking system. These banks are also among the highest rated in Fitch Ratings' coverage universe, benefiting from their size, scale and diversified operations that include retail, commercial, insurance, capital markets and wealth/asset management. DESJ is the largest federation of credit unions in North America. Except for National Bank of Canada (NBC), all have assigned Viability Ratings (VRs) and Long-Term Issuer Default Ratings (IDRs) of `aa¡' and `AA¡', respectively. NBC's `a+' VR and `A+' Long-Term IDR, by contrast, reflect its more national focus and smaller market positions compared to its larger peers. The assigned VRs, or standalone credit profiles, are based on the banks' fundamental strengths that include strong business profiles; well-established domestic and non-domestic franchises; conservative...
