RBC and TD see investment-banking rebound as earnings top expectations

The two largest lenders in Canada saw their investment-banking divisions bounce back in the second quarter, but profit growth from domestic retail operations was relatively tame amid greater expectations of credit losses.

The latest results for RBC and TD were helped by a comeback in investment banking following turbulence that struck stock markets to close out 2018, which kept clients on the sidelines and weighed on the banks’ first-quarter results. Dave McKay, RBC’s president and chief executive officer, said during a conference call Thursday morning that the bank’s fixed-income, currency and equities businesses “generated strong revenue in both primary and secondary trading, as we saw markets recover from challenging conditions last quarter.”

They do business with Trump so they don't get my business

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.

Opinion: Why Canada saw a 60% increase in foreign direct investment last yearTo continue the upward trend, we need to recognize and articulate Canada’s significant competitive advantages while we address policies that impede capital flow globebusiness Because the foreign investors love LPC policies and Justin Trudeau. globebusiness I think the globe and mail just earned a healthy media funding support grant
Source: globeandmail - 🏆 5. / 92 Read more »