Credit quality is deteriorating in Canada, and banks are feeling the impact.
Toronto-Dominion Bank and Canadian Imperial Bank of Canada both reported fiscal first-quarter results that included higher provisions for loan losses, contributing to earnings that missed analysts’ estimates.
Toronto-Dominion, Canada’s second-largest lender by assets, set aside $ 850 million for soured loans in the quarter ended Jan. 31, up 23 per cent from a year earlier and the highest level in at least two years. The lender’s Canadian and U.S. retail divisions had roughly equal shares of the prov…
Banking Industry News
16 mins ago
35 mins ago
1 hour ago
Your email address will not be published. Required fields are marked *
This site uses Akismet to reduce spam. Learn how your comment data is processed.