RBC hikes dividend amid record Q3 profit as oil woes diminish – bnn.ca + MORE Aug 24th

It’s a move that will continue to alter the face of personal banking in Canada: Meridian credit union is not only looking to open a federally chartered bank but also to go entirely digital – with all of its services available online. This essentially could wipe out the need to visit a branch in person.
Bill Maurin, CEO of Meridian tells the Toronto Star that he believes Canadians are hungry for something different than the current big five: BMO, TD, CIBC, Scotiabank and Royal Bank., citing the evolving nature of online and digital services – an enabler that he says breaks down size barriers.
Launched in 2005, Meridian credit union currently has about 270,000 members. It has 81 brick-and-mortar locations in Ontario. Although the plan would not require these outlets to close, no new branches would be opened. This means lower overhead costs – helping to offer banking customers the same experience that credit union members currently have.
Some of the new digital services Meridian plans to offer include personal chequing and savings accounts, mortgages and other loans including consumer loans…

Q: We pay for all our son’s university expenses and just found out that he took out student loans to party. What should we do?
.cbR{box-sizing:border-box;display:block;width:100%;margin:1em 0;border:1px solid #bbb;padding:.5em}@media (min-width:480px){.cbR{width:250px;margin:0 0 1em 1em;float:right}}Defaulting on a student loan
—Angry in Airdrie, Alta.
A: Your son’s sense of entitlement needs to be nipped in the bud, pronto! Otherwise, he’ll be in for a lot of financial hardship in the future, says Toronto-based financial planner Heather Franklin. You need to sit him down and show him how many thousands you’re already paying for his education. And one message should be very clear: Starting now, you’ll only be paying for tuition and books— and that’s all. “He needs to know he will be expected to pay back his student loans on his own,” says Franklin.
Bear in mind that behaviour like this could have been avoided with a bit of financial literacy, something that unfortunately is rarely taught in schools…

bnn.caRBC hikes dividend amid record Q3 profit as oil woes diminishbnn.caTORONTO – Royal Bank of Canada reported slightly higher-than-expected quarterly results on Wednesday after rising oil prices allowed it to set aside less money to cover energy companies' bad loans. Like other Canadian lenders, RBC had seen a rise in …Business am: Royal Bank profits soar, SnapChat gets a legal challengeMontreal GazetteRBC sees third-quarter profit grow to $2.9B; raises dividendCTV NewsRoyal Bank of Canada hikes dividend as $2.7 billion profit beats expectationsFinancial PostBloomberg -Wall Street Journal -Yahoo News -Post Registrarall 17 news articles »

The Bank of Montreal reported a better third-quarter profit, as the bank said its bottom line grew four per cent to $1.25 billion even as it set aside more money for bad loans.