TORONTO, March 4 (Reuters) – Two more Canadian banks
reported surging profits on Thursday, easily surpassing market
expectations, and shares climbed as investors bet the sector
had put the financial crisis behind it.
Toronto-Dominion Bank <TD.TO> said profit spiked in its
financial first quarter as revenue rose to a record C$5.04
billion, while Edmonton-based regional lender Canadian Western
Bank <CWB.TO> said its profit climbed 56 percent to a record
TORONTO, March 3 (Reuters) – Profit at Canada’s biggest
bank, Royal Bank of Canada <RY.TO>, rose 35 percent in its
first quarter as loan losses ebbed, but the results were weaker
than those of its peers and its shares dropped on Wednesday.
RBC profits rose across most segments except perennially
weak U.S. banking. But results at the other Canadian banks that
have reported so far have surpassed expectations and RBC’s
profit looked less robust in comparison.
TORONTO, March 3 (Reuters) – Royal Bank of Canada <RY.TO>
said on Wednesday that first-quarter profit rose about 35
percent on strong domestic banking and lower loan losses, but
the results were weaker than some had expected and shares were
expected to ebb when trading opens in Toronto.
Canada’s largest bank showed profit growth across most
segments — except for perennially weak U.S. banking — but
domestic rivals had surpassed market expectations with earlier
results, so RBC’s looked slightly less robust by comparison.
TORONTO, March 2 (Reuters) – Bank of Montreal <BMO.TO> said
on Tuesday quarterly profit surged, topping expectations, as
domestic banking income climbed 28 percent and provisions for
loan losses fell, more than offsetting weak U.S. results.
The strong performance for Canada’s fourth-largest bank
sent shares up 3.6 percent and extended a trend set last week
by Canadian Imperial Bank of Commerce <CM.TO> and National Bank
of Canada <NA.TO>.
TORONTO, Feb 25 (Reuters) – Two of Canada’s big banks
reported stronger than expected growth in quarterly profits on
Thursday, sending bank shares higher and upping the ante for
rivals that will post results over the next week and a half.
Canadian Imperial Bank of Commerce <CM.TO>, the country’s
fifth-largest bank, and National Bank of Canada <NA.TO>, the
No. 6, benefited from a strengthening Canadian economy and
milder loan losses than expected, suggesting the worst of
credit problems may be over for the nation’s big lenders.
TORONTO, Feb 21 (Reuters) – Having weathered the financial
crisis, Canada’s big banks are expected to report unimpressive
profits in their financial first quarter, suffering from the
lagging effects of the recession and consequent loan losses.
While the economic slump may be over, the nation’s top
lenders could report their biggest credit losses of the current
cycle when they post earnings beginning next week, taking a bit
of shine off their still-huge profits.
TORONTO, Feb 12 (Reuters) – Industrial Alliance Insurance
and Financial Services <IAG.TO> reported a record quarterly
profit on Friday, reversing big losses a year earlier and
sending shares 4.1 percent higher.
Canada’s fourth-largest life insurer bucked the largely
disappointing showing of its bigger lifeco peers earlier in the
week, reporting stronger-than-expected sales and stock market
gains that boosted its large investment portfolio.
TORONTO, Feb 11 (Reuters) – Two of Canada’s biggest life
insurers said on Thursday their quarterly profits jumped
because of gains on stock investments and stronger sales, but
both missed market expectations and their shares fell.
A third, Great West Life <GWO.TO>, bucked the trend,
recording a lower profit that was in line with analysts’
TORONTO, Feb 11 (Reuters) – Sun Life Financial <SLF.TO>
said on Thursday quarterly profit more than doubled, aided by
stock market gains and improved sales, but the results came in
below market expectations.
Sun Life said net income surged to C$296 million ($279
million), or 52 Canadian cents a share, in the fourth quarter,
below the 65 Canadian cents a share expected by analysts,
according to Thomson Reuters I/B/E/S.
TORONTO, Feb 9 (Reuters) – After a volatile year, Canada’s
big life insurance companies are expected to report higher
fourth-quarter profits this week, boosted by stock market gains
and a brighter economic outlook.
The big insurers — Manulife Financial Corp <MFC.TO>, Great
West Lifeco <GWO.TO>, and Sun Life Financial <SLF.TO> — are
emerging from the financial crisis with an eye once again on
growth, though analysts warn they will continue to tweak
accounting details to reflect 2009′s market volatility.