The “Big Five” Canadian banks include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Are there other viable options?
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Banks expected to highlight cost containment as they report earnings
– canadianbusiness.com
TORONTO – Grappling with a perfect storm of economic and operating challenges, Canada’s biggest banks are expected to emphasize their efforts to rein in costs as they report their fourth-quarter earnings this week.
“They need a catalyst to grow earnings, and increasingly I think the focus is on expenses,” said Edward Jones analyst Jim Shanahan.
Bank of Montreal (TSX:BMO) and Scotiabank (TSX:BNS) will kick off the earnings parade on Tuesday, followed by Royal Bank (TSX:RY) and National Bank (TSX:NA) on Wednesday. CIBC (TSX:CM) and TD Bank (TSX:TD) will wrap up the quarterly reporting period on Thursday.
Analysts will be looking for signs of cracks stemming from continued low oil prices on the banks’ loan books. The first such indications of trouble began to crop up last quarter, when most of the lenders reported higher impaired loans — loans that are unlikely to be repaid in full — to companies in the oil and gas sector.
Despite the spike, the credit problems that have so far surfaced have proven to be manageable for the banks…
“They need a catalyst to grow earnings, and increasingly I think the focus is on expenses,” said Edward Jones analyst Jim Shanahan.
Bank of Montreal (TSX:BMO) and Scotiabank (TSX:BNS) will kick off the earnings parade on Tuesday, followed by Royal Bank (TSX:RY) and National Bank (TSX:NA) on Wednesday. CIBC (TSX:CM) and TD Bank (TSX:TD) will wrap up the quarterly reporting period on Thursday.
Analysts will be looking for signs of cracks stemming from continued low oil prices on the banks’ loan books. The first such indications of trouble began to crop up last quarter, when most of the lenders reported higher impaired loans — loans that are unlikely to be repaid in full — to companies in the oil and gas sector.
Despite the spike, the credit problems that have so far surfaced have proven to be manageable for the banks…
Big banks' resistance to slow economy put to the test
– theglobeandmail.com
As the banks begin reporting fiscal fourth-quarter results on Tuesday, observers will be looking for signs that the slow Canadian economy is affecting loan growth and the banks’ other financial activities
Have you been hit by changes to your rewards card?
– theglobeandmail.com
Reading the fine print is essential when banks change the terms of their credit cards that offer reward points for things like travel
Five things to watch for in the Canadian business world in the coming week
– canadianbusiness.com
TORONTO – Five things to watch in Canadian business this week:
Climate confab: Prime Minister Justin Trudeau is at the United Nations Climate Change Conference in Paris that kicks off Monday. His appearance comes on the heels of a Liberal government announcement of a five-year, $2.65 billion contribution to help developing countries tackle climate change.
Newfoundland and Labrador votes: People in Newfoundland and Labrador go to the polls on Monday. According to public opinion surveys, Dwight Ball’s Liberals will either win by a big landslide in Monday’s provincial election in Newfoundland and Labrador — or by a modest one.
GDP: Statistics Canada releases the GDP numbers for the third quarter and September on Tuesday in an ever-reliable gauge of the health of the Canadian economy.
Banks bonanza: Scotiabank and BMO report their fourth-quarter results on Tuesday, the National Bank of Canada and the Royal Bank report on Wednesday, and TD and CIBC report on Thursday. Also this week: the Bank of Canada announces its decision on the target for its critical overnight rate on Wednesday…
Climate confab: Prime Minister Justin Trudeau is at the United Nations Climate Change Conference in Paris that kicks off Monday. His appearance comes on the heels of a Liberal government announcement of a five-year, $2.65 billion contribution to help developing countries tackle climate change.
Newfoundland and Labrador votes: People in Newfoundland and Labrador go to the polls on Monday. According to public opinion surveys, Dwight Ball’s Liberals will either win by a big landslide in Monday’s provincial election in Newfoundland and Labrador — or by a modest one.
GDP: Statistics Canada releases the GDP numbers for the third quarter and September on Tuesday in an ever-reliable gauge of the health of the Canadian economy.
Banks bonanza: Scotiabank and BMO report their fourth-quarter results on Tuesday, the National Bank of Canada and the Royal Bank report on Wednesday, and TD and CIBC report on Thursday. Also this week: the Bank of Canada announces its decision on the target for its critical overnight rate on Wednesday…
