those of Canadian-controlled corporations rose 8.9% to $3.9 trillion. All in all, foreign-controlled profits soared to a record $68 billion that year, up 21.7% from 2003. Also that year, foreign-controlled corporations operating revenues in Canada averaged $96 million, compared with less than $2 million for their Canadian-controlled counterparts. In 2006, 34 Canadian companies were purchased by foreign interests worth $62 billion, nearly 4% of Canada's market value. Statistics In 2016, foreign affiliates accounted for 14% of Canada's gross domestic product and employed 12% of workers. That year, foreign affiliates in the manufacturing sector accounted for 41% of the value added of foreign multinationals operating in Canada, an increase from 38% in 2010. Existing foreign-owned companies in Canada Banks AMEX Bank of Canada — American Express (US) Citibank Canada — Citigroup (US) Habib Canadian Bank — Habib Bank AG Zurich (Switzerland) HSBC Bank Canada — HSBC (UK) ICICI Bank Canada — ICICI Bank (India) KEB Hana Bank Canada — Hana Financial Group (South Korea) Sumitomo Mitsui Banking Corporation of Canada — Sumitomo Mitsui Banking Corp. (Japan) Gaming companies Formerly foreign-owned Canadian companies that were once foreign-owned but are currently owned by a Canadian company: CCM Hockey — acquired by Reebok in 2004, and now owned by Birch Hill Equity Partners. Cirque du Soleil — Before being acquired in 2020 by Canada's Capital Catalyst Group, Cirque's three shareholders were U.S.-based TPG Capital, Chinese-based Fosun, and Canadian-based Caisse de depot et placement du Quebec. FortisBC (formerly BC Gas, a public utility company) — Then known as Terasen Inc., it was sold to American-owned energy giant Kinder Morgan for $6.9 billion. The deal was approved in 2005 by the B.C. Utilities Commission despite 8,000 letters of protest. Terasen was subsequently sold to Newfoundland-based Fortis Inc. in 2007. Tangerine Bank (formerly ING Bank of Canada) — formed by the purchase of several small Canadian companies by the Dutch ING Group. It has been owned since 2012 by Scotiabank (formally the Bank of Nova Scotia). Tim Hortons — sold to U.S.-based Wendy's International in 1995, and later to sold to the public as an IPO in 2005. It is now owned by Toronto-based Restaurant Brands International, a Canadian-American fast food holding company. Former Canadian companies acquired by foreign owners Existing companies formerly based in Canada Bauer, Cooper, and Hespeler, historic hockey-equipment manufacturers, were collectively bought by U.S.-based Nike in 1994. Rules and regulations "Non-Canadian," for all