More Canadians saving money than in 2006

There has been a 17 percent surge in the number of Canadians who have savings this year compared with 2006, an HSBC Bank Canada survey indicated Wednesday.

Opinion Search conducted the survey of 1,000 adults in February for the bank, and found an average 84 percent of them had money put aside, while a similar poll in 2006 found only 67 percent of respondents maintained savings vehicles.

The news release said Canada has a reputation as a nation of savers, which has apparently intensified because of the economic downturn.

The bank noticed some major regional disparities, as 92 percent of people in Alberta actively save, while the Atlantic provinces were the lowest at 77 percent.

British Columbia matched the national average, while 80 percent of Quebec residents said they saved.

Manitoba and Saskatchewan residents each reported 89 percent claiming to have savings, and 86 percent of Ontario respondents had some savings put away, the release said.