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Given the Canadian banking sector in 2003 measures by the five-firm concentration ratio stated below which bank has the highest amount of assets in millions and by how much? Also state the total amount of assets in 2003.

In 2003, Canada was home to the banks listed in Figure 10.8. How concentrated was the Canadian banking sector as measured by the five-firm concentration ratio? The Herfindahl index? Canadian bank assets, 2003 The five-firm concentration ratio is calculated simply by summing the market shares of the five largest banks, as shown in Figure 10.9: Five-firm concentration ratio So the five-bank concentration ratio (for assets) in Canada in 2003 was 86 percent. The Herfindahl index is calculated by summing the squares of the market shares of each bank, as shown in Figure 10.10: Herfindahl index So the Herfindahl index for bank assets in Canada in 2003 was 1,590. In 2003, Canada was home to the banks listed in Figure 10.8. How concentrated was the Canadian banking sector as measured by the five-firm concentration ratio? The Herfindahl index? Canadian bank assets, 2003 The five-firm concentration ratio is calculated simply by summing the market shares of the five largest banks, as shown in Figure 10.9: Five-firm concentration ratio So the five-bank concentration ratio (for assets) in Canada in 2003 was 86 percent. The Herfindahl index is calculated by summing the squares of the market shares of each bank, as shown in Figure 10.10: Herfindahl index So the Herfindahl index for bank assets in Canada in 2003 was 1,590