Loan Administration, Cheque Cashing & Other Services in Canada - Industry Market Research Report

Loan Administration, Cheque Cashing & Other Services in Canada - Industry Market Research Report

Loan Administration, Cheque Cashing & Other Services in Canada

Loan administration, cheque cashing and other services' revenue has been increasing at a CAGR of 2.6% over the past five years, including an estimated 1.2% decrease in 2023, and is expected to total $1.6 billion. In 2023, profit is set to decrease to 14.7%. Canadian consumers' appetite for debt has boosted the industry by sustaining demand for consumer financing, mortgages and cash services for businesses. However, industry profit has trended downward as a result of increased external competition and regulations during most of the period.

Operators in the Loan Administration, Cheque Cashing and Other Services industry in Canada service loans, most notably mortgages. It does not originate loans, which includes legally arranging and issuing the loan. Servicing loans includes performing all the administrative aspects of the loan. The industry also performs money transmission services, which include selling and cashing travellers’ cheques, money orders and cashier’s cheques, while also renting safe deposit boxes.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.