Edition:
International

Nichola Saminather

Canadian banks' provisions-led earnings beats mask operational challenges

Feb 26 2021

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.

TD, CIBC join rivals in better-than-expected quarter, but retail weakness lingers

Feb 25 2021

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.

RBC warns of credit performance dependence on government aid after profit beat

Feb 24 2021

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.

Bank of Montreal, Scotiabank beat profit expectations, signal better times ahead

Feb 23 2021

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.

PREVIEW-Canadian banks set for earnings decline but investors optimistic about recovery

Feb 22 2021

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.

Canadian banks set for earnings decline but investors optimistic about recovery

Feb 21 2021

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.

UPDATE 1-Manulife says will prioritize organic growth, dividend hikes for C$29 bln excess capital

Feb 11 2021

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.

Manulife says prioritize organic growth, dividend hikes, buybacks for C$29 bn excess capital

Feb 11 2021

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.

WRAPUP 1-Canadian insurers upbeat about 2021 after beating Q4 profit expectations

Feb 10 2021

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.

Canada TMX's retail participation jumps in January after Reddit frenzy, CEO says

Feb 09 2021

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.

World News