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Aug 28, 2015

Scotiabank energy-sector bad loans climb; profit tops estimates

TORONTO (Reuters) – Bank of Nova Scotia, which reported a quarterly profit that beat market expectations on Friday, said bad loans in the energy sector climbed as the oil price selloff took a toll.

Shares of Scotiabank, Canada’s third-largest bank, slipped 1.5 percent in mid-morning trading.

Aug 27, 2015

Canadian banks TD, CIBC quarterly profits top expectations

TORONTO, Aug 27 (Reuters) – Toronto Dominion Bank
and Canadian Imperial Bank of Commerce on Thursday
posted forecast-topping quarterly profits on robust growth in
their domestic retail businesses even as both became the latest
Canadian lenders to record jumps in bad loans tied to the energy
sector.

CIBC, Canada’s fifth-largest bank, also raised its quarterly
dividend, and its stock rose nearly 6 percent. Shares of TD, the
country’s No. 2 bank, climbed 1 percent.

Aug 26, 2015

Royal Bank of Canada reports higher energy-sector bad loans but profit rises

TORONTO (Reuters) – Royal Bank of Canada on Wednesday reported a sharp spike in energy-sector bad loans for the third quarter, but strength in personal and commercial banking helped the country’s biggest lender top profit expectations.

The numbers on bad loans were among the first signs of the effect the oil-price correction was having on the Canadian banking industry.

Aug 26, 2015

RBC reports higher energy-sector bad loans but profit rises

TORONTO, Aug 26 (Reuters) – Royal Bank of Canada on
Wednesday reported a sharp spike in energy-sector bad loans for
the third quarter, but strength in personal and commercial
banking helped the country’s biggest lender top profit
expectations.

The numbers on bad loans were among the first signs of the
effect the oil-price correction was having on the Canadian
banking industry.

Aug 25, 2015

Bad oil-and-gas loans soar as BMO profit tops estimates

TORONTO, Aug 25 (Reuters) – Bank of Montreal on
Tuesday reported that bad oil-and-gas loans increased sharply in
the third quarter but profit topped market expectations on
growth in its wealth management unit and personal and commercial
banking.

BMO shares, which have shed about 12 percent in the last
three months, climbed 4.8 percent to $69.37 on Tuesday, joining
a broad market rebound after a sharp selloff in the previous
session.

Aug 25, 2015

Canadian banks brace for impact from oil price selloff

TORONTO/OTTAWA (Reuters) – Canadian banks are expected to begin feeling the impact of an extended downturn in the energy sector as they exercise caution with new and existing loans to companies and individuals.

Investors will this week be poring over the balance sheets and bottom lines of the country’s biggest lenders as they post third-quarter results, with Bank of Montreal kicking off the earnings party on Tuesday. Quarterly reports by RBC, TD Bank, CIBC and Scotiabank will follow.

Aug 17, 2015

OMERS’ tech fund raises C$260 million from Cisco, Bank of Montreal

TORONTO, Aug 17 (Reuters) – OMERS Ventures, one of Canada’s
biggest venture-capital firms, said on Monday it has raised
about C$260 million ($200 million) for a second fund to invest
mainly in early-stage technology companies.

Lead investors in the fund are Bank of Montreal,
Cisco Systems and the Ontario Municipal Employees
Retirement System (OMERS), parent of OMERS Ventures.

Aug 13, 2015

Activist investors push for Canadian energy deals as prices languish

TORONTO (Reuters) – With a sinking oil price driving Canadian energy shares to decade lows, activist hedge funds are pushing hard for companies to look at mergers and acquisitions or asset sales to curb costs and help the funds reduce their own investment losses.

The funds’ shift away from a focus on smarter capital deployment, such as dividend payments and share buybacks, comes as a renewed price slide deals another blow to many companies’ financial results and balance sheets.

Aug 11, 2015

TD aims to double U.S. capital markets business within four years

TORONTO (Reuters) – Canada’s Toronto-Dominion Bank (TD.TO: Quote, Profile, Research, Stock Buzz) plans to hire more U.S. investment bankers and target multinational clients as it pushes to double its U.S. capital markets business over the next three to four years, one of its top executives said.

TD Securities, the Canadian bank’s capital markets division, is looking to invest in the energy, technology, media, telecoms and utilities sectors, Glenn Gibson, the vice chair and U.S. head of TD Securities, said in an interview. The U.S. capital markets operation has more than 600 staff members.

Aug 11, 2015

TD aims to double U.S. capital markets business within 4 yrs

TORONTO, Aug 11 (Reuters) – Canada’s Toronto-Dominion Bank
plans to hire more U.S. investment bankers and target
multinational clients as it pushes to double its U.S. capital
markets business over the next three to four years, one of its
top executives said.

TD Securities, the Canadian bank’s capital markets division,
is looking to invest in the energy, technology, media, telecoms
and utilities sectors, Glenn Gibson, the vice chair and U.S.
head of TD Securities, said in an interview. The U.S. capital
markets operation has more than 600 staff members.