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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Online and Mobile Banking During the COVID-19 Pandemic + MORE Jun 2nd
Canadians are using social distancing to prevent the spread of COVID-19. As a result, banks have closed their doors or reduced their hours of operation. Many Canadians are turning to technology to manage their finances instead. Naturally, this has caused a spike in the use of online and mobile bank.... More »
U.S. dollar shortages hit Qatar exchange houses as foreign banks scale back ties Jun 11th
Saudi Arabia, the UAE, Bahraini and Egyptian banks began scaling back business with Qatar last week after their governments cut diplomatic and transport ties, accusing Doha of supporting terrorism
.... More »
How does a reverse mortgage work in Canada? + MORE Aug 29th
More than ever, Canadians are relying on reverse mortgages—a “don’t-pay-till-you-die” option to borrow up to 55% of the appraised value of your home—and the trend is turning conventional wisdom about debt and retirement on its head. While past generations fought hard to avoid debt in their.... More »
Canadian Banks Take a Credit Rating Hit from Moody’s + MORE May 18th
The credit ratings of Canada’s Big Six banks have been taken down a notch, reflecting our nation’s high level of household debt and housing prices.
Last week, credit ratings agency Moody’s Investor Service announced that Toronto-Dominion Bank, Bank of Montreal, Bank of Nova Scotia, Canadi.... More »
Canada’s best balance transfer credit cards 2022 Nov 1st
If you carry a balance on a regular credit card, chances are you’re paying around 20% in interest. At that rate, it can become difficult to keep up with the payments and your debt can spike—fast. Moving your credit card debt to a balance transfer credit card can help you pay off the principal mo.... More »
The best (and worst) of the big banks’ first-quarter results
– theglobeandmail.com
Which bank walked away with the most impressive results? That depends entirely on which number you look at
Hong-Kong-based executives of the Canada Pension Plan Investment Board first approached officials at Postal Savings Bank of China in 2013 with a view to invest. Two years later, the CPPIB pulled off a deal that would see it invest US$500 million in the company, one of China’s biggest retail banks. That move in late 2015 […]
A person walks through the halls of the centre block on Parliament Hill in Ottawa on Wednesday Sept. 22, 2010. (Sean Kilpatrick/CP)OTTAWA – A new analysis by one of Canada’s biggest banks says the federal government is on track to run $150 billion in budget deficits over the next five years.
The TD Bank report, released Tuesday, also estimates Ottawa’s current fiscal path means it will take more than a decade to bring the budget back into balance — unless the government raises taxes or cuts spending.
The bank says it produced the numbers after re-calculating Ottawa’s predicted shortfalls to account for the Liberal government’s electoral spending vows and TD’s below-consensus outlook for economic growth.
“Our estimates show deficits remain somewhat persistent, largely the result of our conservative view on long-term growth rates,” reads the report, co-authored by TD economists Derek Burleton and Brian DePratto.
“A key takeaway from our analysis is that absent additional revenues or adjustments to spending relative to the status quo, the federal deficit is poised to remain stubbornly elevated over the medium term…
