Banking

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Desjardins partners with fintech Hardbacon to boost online brokerage

Desjardins is the latest company to roll out enhanced options for self-directed trading at a lower cost

By Armina Ligaya, The Canadian Press |September 13, 2018

2 min read

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Loblaw Companies to take $368-million charge related to Tax Court ruling

Court's decision centres on CRA reassessments

By The Canadian Press |September 10, 2018

1 min read

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Enter the chatbots: BMO introduces tools for Facebook, Twitter

BMO is launching a new AI-powered tool to serve customers on Facebook and Twitter. Two chatbots will deliver instant responses to common queries for customers looking for more online banking options, a BMO release said Thursday. “The launch of these chatbots and the integration of AI into our customer-facing technology provide an opportunity to build […]

By Staff |March 15, 2018

2 min read

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What we learned from the big banks’ proxy circulars

See the full breakdown of top executive compensation

By Staff, with files from The Canadian Press |March 14, 2018

8 min read

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Canada’s banks collaborate to combat cyber risks

More than half (52%) of executives in the Canadian financial services sector believe that cybercrime is likely to be the most disruptive economic crime over the next two years, finds a report by PwC Canada. Read: BoC warns of risks for clients with mortgages But despite the heightened awareness of cyber risks, banks still face […]

By Staff |March 6, 2018

2 min read

Big Five to benefit from U.S. tax reform, higher interest rates

Economic Indicators

Big Five to benefit from U.S. tax reform, higher interest rates

The forecast for Canada’s biggest banks is bright thanks to U.S. tax reform and higher interest rates, but as they report first-quarter results this week, domestic mortgage demand and the North American Free Trade Agreement could cloud the long-term outlook, analysts say. Earnings estimates for the 2018 fiscal year are being revised upwards by some […]

By Armina Ligaya, The Canadian Press |February 20, 2018

4 min read

Scotiabank acquires Citibank’s consumer operations in Colombia

Scotiabank acquires Citibank’s consumer operations in Colombia

A Scotiabank subsidiary in Colombia is acquiring the consumer operations of Citibank in that country, the bank announced Wednesday. Banco Colpatria reached an agreement to acquire the consumer and small and medium enterprise operations of Citibank in Colombia, subject to regulatory approval. The transaction is not financially material to Scotiabank, a press release said. “We’re […]

By Staff |February 1, 2018

1 min read

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Where Canada is a regulatory leader

Financial institutions must increasingly focus on compliance and cybersecurity, with a global focus. Such issues are explored in a Deloitte report on risk management innovation, which examines critical regulatory topics facing Canadian financial institutions, and how trends such as innovation, automation and analytics are becoming increasingly important to stay compliant and competitive. Read: An algorithm […]

By Staff |January 31, 2018

2 min read

Goldman Sachs posts nearly US$2B loss from new tax law

Goldman Sachs posts nearly US$2B loss from new tax law

Goldman Sachs posted a US$1.93-billion loss in the fourth quarter, the investment bank said Wednesday, as the bank had to record more than US$4 billion in charges related to the new tax law. It was the bank’s first quarterly loss in more than six years. (All figures are in U.S. dollars.) Goldman had a net […]

By Ken Sweet, The Associated Press |January 17, 2018

2 min read

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Economic Indicators

Consumers looking beyond banks for advice: CGI report

Consumers are increasingly leaning toward financial service providers that offer value-added services such as advice, rewards and personal finance management, a report from CGI finds. The report, called “Today’s financial consumer: Open for business,” says banks need to innovate and improve services to compete with more nimble competitors. They can also partner with fintech and […]

By Staff |January 10, 2018

2 min read

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