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
Tagged with: banks Canada credit deteriorating feeling Impact Quality
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Your email address will not be published.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.