TORONTO, Feb 26 Canadian banks are likely to see slower growth from their core retail and business banking divisions in the next few quarters due to an uncertain economic recovery, but overall earnings could get a boost as lenders claw back some of the C$20 billion ($15.9 billion) of provisions they took last year.
Toronto-Dominion Bank and Canadian Imperial Bank of Commerce closed out quarterly results reporting on Thursday, joining all major rivals in beating expectations, as much lower provisions for loan losses and trading strength offset muted growth or declines in their retail businesses.
Royal Bank of Canada executives cautioned on Wednesday that the company's 2021 credit performance hinges on the outlook for government support after its quarterly profit beat estimates on much lower than expected provisions for loan losses.
TORONTO Bank of Montreal and Bank of Nova Scotia (Scotiabank) beat estimates for first-quarter profit on Tuesday as they set aside less-than-expected capital to cover bad loans, and said economic recoveries driven by the rollout of coronavirus vaccines will boost performance into the year.
TORONTO, Feb 21 Canadian banks are set to post their fourth straight year-on-year quarterly profit drop when they report results next week, the longest decline streak since the financial crisis, on margin compression and declining commercial lending, but flattening loan loss provisions signal a turning point, investors said.
TORONTO Canadian banks are set to post their fourth straight year-on-year quarterly profit drop when they report results next week, the longest decline streak since the financial crisis, on margin compression and declining commercial lending, but flattening loan loss provisions signal a turning point, investors said.
TORONTO, Feb 11 Canada's top insurer Manulife Financial Corp will prioritize organic growth, dividend increases and share buybacks over acquisitions for its C$29 billion ($22.9 billion) of excess capital, its chief executive said on Thursday.
TORONTO, Feb 11 Manulife Financial Corp will prioritize organic growth, dividend increases and buybacks for its C$29 billion ($22.9 billion) of excess capital over acquisitions, its chief executive said on Thursday.
TORONTO, Feb 10 Canada's top two life insurers expressed optimism about 2021 on Wednesday despite continued uncertainty around the COVID-19 pandemic after both reported better-than-expected fourth-quarter profits, buoyed by strong wealth management gains.
TORONTO, Feb 9 Retail investor participation at Canadian exchange operator TMX Group Ltd rose to 45% of total equities trading in January, from 35% a year ago, on the back of the Reddit-driven trading frenzy, its chief executive told Reuters on Tuesday.
Myanmar police fired on protesters around the country on Sunday and at least 18 people were killed in the worst violence since a Feb. 1 military coup, the United Nations said, calling on the international community to act to stop the repression.