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?
Latest News
Applying for a credit card? Here’s what you should know before getting one Jul 7th
The convenience of making purchases with your credit card comes with many advantages, like rewards, perks and a solid credit history. However, if used irresponsibly, this financial tool can lead to unmanageable debt and a low credit score. So, how can you be a responsible credit card owner? I will e.... More »
Find the best mortgage rates in Canada + MORE Oct 22nd
Mortgage rate comparison tool
Shopping around for the best rate can save you thousands on your mortgage. To instantly compare rate types and terms, click on the filters icon beside the down payment percentage in the Ratehub mortgage rate finder below. Input your location, the price of the home yo.... More »
Banks set to reveal earnings amid wobbly housing market, interest rate uncertainty Feb 20th
Canada's biggest banks are set to report on what has traditionally been the strongest quarter of the year, but market volatility and slower mortgage growth during the period could weigh on their latest results..... More »
Wall St. hits another record high, as TSX edges up and loonie breaks 80 cents US Oct 3rd
TORONTO _ Wall Street set another record high Tuesday on relatively minor movements as Canada’s largest stock index inched forward and the loonie cleared 80 cents US.
In New York, the Dow Jones industrial average gained 84.07 points to 22,641.67. The S&P 500 index edged up 5.46 points to 2.... More »
Scotiabank's playbook: More deals in Latin America + MORE Jun 5th
As the Canadian lender targets a slightly smaller regional rival to hit that 10-per-cent market-share threshold, the bank is working through a relatively short list of takeover targets – approximately a dozen banks in both Mexico and Chile fit the bill
.... More »
The Week of the Central Banks
– macleans.ca
This will be a busy week on the global economic calendar, including several meeting by central banks, which should give clearer signs of the growth expectations for the next year, amidst low oil prices and low inflation. Let’s start with a run down of what’s to come.
Central banks, quantitative easing, and a Greek election.
The week will start slow – markets are closed today in the U.S. for Martin Luther King Jr. Day.
Tomorrow, we’ll see major numbers for China for December and the fourth quarter, including real GDP and industrial production, and the beginning of a two-day meeting by Japan’s central bank.
The big day for Canada is Wednesday, when we’ll see the Bank of Canada’s policy announcement and monetary policy report. There’s no expectation of a rate hike, but analysts will be watching closely for hints of when a hike could come. Wednesday also means the launch of the World Economic Forum in Davos, Switzerland, where global inequality is expected to be one of the major issues on the table…
Desjardins and Best Buy Announce Credit Card Partnership
– ratesupermarket.ca
After cutting its ties with Chase Bank, Best Buy recently announced that its private-label credit card portfolios will now be managed by Desjardins Group. The move also applies to Future Shop, a subsidiary of Best Buy.
The Chase-managed Best Buy Reward Zone Visa will be deactivated at the end of February and the new Best Buy-Desjardins partnership will take effect on April 15.
No New Rewards Offerings
The new Best Buy and Future Shop private label cards will not offer reward programs. “Their main purpose is to offer financing options on purchases,” says Philip Ward, managing director of commercial business development for Desjardins Card and Payment Services. Ward says the benefit to customers using the cards is unique.
“Customers shopping at these stores will be able to take advantage of Desjardins’ Accord D financing solution,” Ward explains. “Accord D financing is a second credit limit, that does not affect the current one, that carries a different interest rate on a Desjardins card…
Fitch: Greek bank strain ‘manageable’ despite uncertainty of Sunday’s national election
– canadianbusiness.com
ATHENS, Greece – The ratings agency Fitch says political uncertainty ahead of Sunday’s national election in Greece could further test the country’s banks but described the strain as “manageable.”
The agency said Monday it expected a 2 per cent drop in Greek deposits due to the Jan. 25 election, compared to a drop of more than 9 per cent when two consecutive elections were held in 2012 and the country faced an exit from the eurozone.
Weekend opinion polls showed conservative Prime Minister Antonis Samaras’ New Democracy party trailing the anti-bailout Syriza party in voter support and that a coalition government is likely to emerge from Sunday’s vote.
Greece’s four major banks are seeking emergency liquidity assistance just in case, which requires approval by the European Central Bank.
__
Online:
Fitch statement: http://goo.gl/brEnkK
The post Fitch: Greek bank strain ‘manageable’ despite uncertainty of Sunday’s national election appeared first on Canadian Business.
The agency said Monday it expected a 2 per cent drop in Greek deposits due to the Jan. 25 election, compared to a drop of more than 9 per cent when two consecutive elections were held in 2012 and the country faced an exit from the eurozone.
Weekend opinion polls showed conservative Prime Minister Antonis Samaras’ New Democracy party trailing the anti-bailout Syriza party in voter support and that a coalition government is likely to emerge from Sunday’s vote.
Greece’s four major banks are seeking emergency liquidity assistance just in case, which requires approval by the European Central Bank.
__
Online:
Fitch statement: http://goo.gl/brEnkK
The post Fitch: Greek bank strain ‘manageable’ despite uncertainty of Sunday’s national election appeared first on Canadian Business.
