Reported about 7 hours ago
Three of Canada's top banks, RBC, TD, and CIBC, exceeded profit expectations due to robust earnings from wealth management and capital markets. Wealth management saw significant growth, propelled by an increase in high net-worth individuals and corporate banking activities boosted by lower interest rates. Despite facing geopolitical uncertainties and potential tariffs from the U.S., the banks have increased their provisions for credit losses. RBC's adjusted earnings reached C$3.62 per share, TD's C$2.02, and CIBC's C$2.20—all surpassing analyst estimates.
Source: YAHOO