Toronto-Dominion Bank and Canadian Imperial Bank of Commerce, two of Canada’s biggest lenders, reported first-quarter earnings on Thursday that fell short of analysts’ forecasts, hurt by weakness in their capital markets businesses.
Global stock markets had declined during the period, amid investor concerns over rising interest rates, escalating trade tensions between the U.S. and China and Britain’s exit from the European Union, among other factors.TD earned, excluding special items, $1.57 per share, up from $1.56 a year earlier, but lower than the $1.72 expected by analysts according to IBES data from Refinitiv.
TD reported a net loss of $17-million at its wholesale banking division, compared to net earnings of $278-million in the same quarter a year earlier, which it said reflected lower trading revenue and higher costs. CIBC earned $3.01 per share in the quarter ended Jan. 31, excluding special items. That was down from $3.18 a year earlier and short of the $3.08 forecast by analysts.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Credit quality is deteriorating in Canada, and banks are feeling the impactTD Bank, and CIBC report highest loan losses in two years as earnings miss expectations Tax the wealthiest more. Pay everyone else more.
Source: VancouverSun - 🏆 49. / 61 Read more »
CIBC boosts dividend, but posts bigger-than-expected earnings declineCIBC boosts dividend, but posts bigger-than-expected earnings decline GlobeBusiness globebusiness Nnjc bc c. Bc bc c can. CNBC cb. C bc ccvcnnbnbcn. C ncncnccncnbcjcncchccn. Cn. Cnccncn ccjcnnccnncnncjncbnnccccnchcnccncncn bjkvjfx
Source: globeandmail - 🏆 5. / 92 Read more »
CIBC hikes dividend as declining profit misses expectationsCanada’s fifth-largest lender saw double-digit drop in profit from personal and small business banking and capital markets This article offers a peak inside what I would consider the negative side of capitalism. Sentence is too lenient IMO. They could have died. Yet another criminal treated with kid gloves by the Canadian justice system.
Source: nationalpost - 🏆 10. / 80 Read more »
CIBC hikes dividend as declining profit misses expectationsCanada’s fifth-largest lender saw double-digit drop in profit from personal and small business banking and capital markets This article offers a peak inside what I would consider the negative side of capitalism. Sentence is too lenient IMO. They could have died. Yet another criminal treated with kid gloves by the Canadian justice system.
Source: nationalpost - 🏆 10. / 80 Read more »
CIBC boosts dividend, but posts bigger-than-expected earnings declineCIBC boosts dividend, but posts bigger-than-expected earnings decline GlobeBusiness globebusiness Nnjc bc c. Bc bc c can. CNBC cb. C bc ccvcnnbnbcn. C ncncnccncnbcjcncchccn. Cn. Cnccncn ccjcnnccnncnncjncbnnccccnchcnccncncn bjkvjfx
Source: globeandmail - 🏆 5. / 92 Read more »