PwC Canada announces support for the Defence Security and Resilience Bank
Press Release + Noah Note
TORONTO, March 25, 2026 /CNW/ - PwC Canada today announced its support for the proposed Defence Security and Resilience Bank (DSRB) being developed to address structural financing gaps facing defence suppliers and critical infrastructure providers. By improving access to appropriately structured, long-term credit, the DSRB would help enable Canadian companies to invest, scale and innovate in response to evolving security requirements and the Government's plans for increased defence spending.
"Canada's defence and security environment is changing rapidly, and the industrial base must be able to respond at pace and scale," said Laura Wood, Partner and Global Government Defence Leader, PwC Canada. "The DSRB will play a pivotal role in translating public–policy ambition into real industrial capacity on the ground. A robust, well funded ecosystem and finance defence centre is essential to both national security and long‑term economic resilience."
Many of the investments required to expand Canada's defence industrial base – such as new facilities, advanced technologies, workforce development and supply chain resilience – require patient, risk aware capital tailored to the specific characteristics of defence programs. These challenges are particularly acute for small and medium sized enterprises operating within complex, long cycle procurement environments.
PwC Canada's support for the DSRB aligns with recent statements from Canada and all schedule 1 banks, as well as a multilateral group of countries that wish to mobilize and deploy capital to support dedicated mechanisms to finance defence, security and resilience. PwC Canada stands ready to support the DSRB by bringing its experience across sectors including defence, infrastructure, capital markets and public sector transformation.
About PwC Canada
At PwC Canada, we help clients build trust and reinvent so they can turn complexity into competitive advantage. We're a tech-forward, people-empowered network with more than 6,500 partners and staff in offices across the country. Across audit and assurance, tax and legal, deals and consulting, we help build, accelerate and sustain momentum. PwC refers to the Canadian member firm and may sometimes refer to the PwC network. Each member firm is a separate legal entity.
Please see www.pwc.com/structure for further details. Find out more by visiting us at: http://www.pwc.com/ca
Noah Note: While the major banks have all thrown their support to the DSRB it doesn't mean they're the only one's with an interest. As we spoke about a few weeks ago, expect more institutions to throw their backing behind the establishment, and offer their support.
I would not be shocked to many see a pension fund throw their support in the pool. Thats just me though. The Canadian team for the DSRB is certainly the most developed out of the countries currently barking for it to be headquartered there.
Will that translate to results? Maybe, but we'll see how today goes.
I'm very nervous when consultants get interested in the bank. Being skeptical that all they see is underwriting fees pouring in. Hopefully London steps in with Carney putting some guardrails in place and a wider participation with European nations.