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United Kingdom

Nichola Saminather

Scotiabank, National Bank of Canada beat estimates even as loan-loss provisions erode profits

26 May 2020

Bank of Nova Scotia and National Bank of Canada reported better-than-expected second-quarter results on Tuesday despite large profit declines driven by spikes in loan-loss provisions due to the COVID-19 pandemic.

CPPIB CEO has 'significant appetite' for fixed income; comfortable with energy exposure

26 May 2020

TORONTO The Canada Pension Plan Investment Board (CPPIB) has "significant appetite" for fixed income investments to help further diversify its portfolio and reduce risk, its CEO said on Tuesday, adding that the fund remains comfortable with its energy exposure.

Scotiabank profit drops 41%, more bad loans seen but stock still jumps

26 May 2020

Bank of Nova Scotia on Tuesday said loan-loss provisions will remain high after a second-quarter increase drove a 41% profit decline, but shares still jumped 5% as earnings still beat analyst estimates.

Canada's banks to cement status as solid investments in a crisis

25 May 2020

Canadian banks, whose dividends yields climbed during the financial crisis, are again gaining favor with investors, as their pledges to maintain payouts gives them an edge over global counterparts who have shunned them.

Canadian banks to see second-quarter earnings drop 36% on COVID-19 hit

21 May 2020

TORONTO Canada's biggest banks are expected to see second-quarter profit slide by more than a third from a year ago, hit by a jump in loan-loss provisions due to the COVID-19 outbreak and margin pressure from decade-low interest rates.

PREVIEW-Canadian banks to see Q2 earnings drop 36% on COVID-19 hit

21 May 2020

TORONTO, May 21 Canada's biggest banks are expected to see second-quarter profit slide by more than a third from a year ago, hit by a jump in loan-loss provisions due to the COVID-19 outbreak and margin pressure from decade-low interest rates.

Manulife CEO warns of 'devastation' if COVID-19 closures end too soon

07 May 2020

TORONTO Manulife Financial Corp's chief executive on Thursday cautioned against reopening economies shut by the COVID-19 pandemic despite challenges that contributed to a 40% decline in first-quarter profit for Canada's biggest life insurer.

Canada's Manulife profit declines on market woes, lower Japan sales

06 May 2020

TORONTO Manulife Financial Corp reported a 34% drop in first-quarter core earnings on Wednesday, missing analyst expectations, on unfavorable market conditions and lower sales in Japan that weighed on earnings from Asia.

UPDATE 1-Canada's Sun Life looking at acquisition opportunities despite COVID-19 challenges

06 May 2020

TORONTO, May 6 Canadian insurer Sun Life Financial is looking for acquisition opportunities, its chief executive said on Wednesday, even as the company flagged an uncertain sales outlook amid a raft of unknowns driven by the COVID-19 outbreak.

Some Canadian banks freeze new financing for commercial properties on COVID-19 concerns

05 May 2020

TORONTOSome Canadian banks have frozen new lending for smaller commercial property purchases, in some cases withdrawing letters of intent, as the coronavirus crisis raises concerns about owners’ ability to make payments, mortgage and real estate brokers said.

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