Federal Bank Awarded Senior Staff $104M in Bonuses, Raises During Pandemic: Taxpayers’ Federation: Taxpayers’ Federation

King Street West, a major commercial and entertainment district in in Toronto, on April 23, 2020. Emma McIntyre/Getty Images

A federal bank paid its employees about $104 million in bonuses and raises during the pandemic in 2020 and 2021, according to the Canadian Taxpayers Federation (CTF).

The Business Development Bank of Canada (BDC) issued a total of $93 million in bonuses to its employees over the two-year period, according to documents obtained by CTF through Access to Information requests.