Bank

Decorative pattern

Economic Indicators

JP Morgan Chase to face Congress

JPMorgan Chase is set to testify before Congress today regarding the major bank’s multibillion-dollar trading blunder, and its effect on the future of trading regulation on Wall Street. The Office of the Comptroller of the Currency is expected to face scrutiny over its poor oversight of the bank unit responsible for the loss, with top […]

By Staff |June 6, 2012

1 min read

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Moody’s downgrade threat unwarranted: RBC

Doomsday market headlines don’t scare RBC, one of the top banks in Canada and North America; while other firms shrink their capital markets units, the bank has taken strides to grow its wholesale sector and beef up its risk management division.

June 5, 2012

2 min read

Decorative pattern

ATB Financial earnings up 12.8%

ATB Financial, the largest Alberta-based financial institution, reported a 12.8% increase in its net income, up to $195 million for the year ending March 31, 2012.

By Staff |June 1, 2012

1 min read

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Economic Indicators

TD earnings surge in Q2

TD Bank’s second quarter earnings jumped 14% over 2Q11, reflecting record retail earnings and a solid performance from wholesale banking.

By Staff |May 24, 2012

1 min read

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RBC posts solid performance

RBC reports net income of $1,563 million for the second quarter of 2012. The bank’s true net income was $1,765 million, up $83 million or 5% from last year, but the reporting number accounts for a $202 million after-tax loss from its acquisition of the remaining 50% of RBC Dexia. The bank’s solid performance was […]

By Staff |May 24, 2012

1 min read

Decorative pattern

BMO posts 27% increase in Q2

Earlier this week, CIBC Capital Markets predicted Canadian banks would grow an average 5.3% in 2012’s second quarter. Bank of Montreal, however, far surpassed those expectations, with profits leaping 27%. The bank beat analyst expectations on stronger results in both its U.S. and Canadian retail operations. Read: RBC is top North American bank for more […]

By Staff, with files from The Canadian Press |May 23, 2012

2 min read

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Economic Indicators

Canadian banks will profit in Q2

Canadian banks started the year with strong earnings momentum, but will report slower growth in the second quarter – characterized by lower trading revenues and a weaker outlook for the rest of the year.

By Staff |May 22, 2012

2 min read

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TD adopts CFA conduct code

TD Asset Management joins the list of Canadian firms that comply with the CFA Asset Manager Code of Professional Conduct. Others include CIBC Global Asset Management, Mawer Investment Management, Kinsale Private Wealth and GLC Asset Management Group. More than 650 firms in 20 countries have registered. The code outlines ethical and professional responsibilities of firms […]

May 17, 2012

1 min read

Decorative pattern

London Whale leaving JPMorgan; Regulation debate continues

Earlier this week, it was rumoured that Bruno Iksil would leave JP Morgan. And as it turns out, the rumours were true. Iksil is a French-born trader who manned the London office of JP Morgan. Prior to the company’s loss, he was nicknamed the “The London Whale”; he made risky trades and turned extremely bullish […]

May 17, 2012

3 min read

Decorative pattern

Economic Indicators

Moody’s downgrades European banks

Moody’s downgraded the debt of 30 Spanish banks today but has so far left the country’s three largest untouched. Higher pressure on Spanish sovereign debt and the number of weak banks in the country prompted the downgrade. The role of smaller and regional banks is declining as the sector consolidates. Moody’s has been planning the […]

May 17, 2012

2 min read

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