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.
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.
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.
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.
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.
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
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.
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.
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
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.