There’s a common refrain coming from bank executives this week as they release their latest quarterly earnings: buckle up.
That’s an issue, said Carl De Souza, senior vice-president of North American financial institutions at DBRS Morningstar. RBC is no exception. The bank took out higher than expected provisions for loan losses — $340 million in all — according to its latest quarterly report, released Wednesday. “In light of all the uncertainty that’s come into the market — from the Ukraine-Russia war, inflation, supply chains issues and interest rate hikes — the banks all need to be forward-looking to see how all these things might play out,” said De Souza.
Wonder why being this is what Scotiabank is supporting in schools now
Whenever you see 'plummeting' of shares this is your indication/proof how greedy the investors are. They are not satisfied with good/reasonable profit, No, they want Maximum profit. no matter what is cost you/society/environment. Neo Lib Capitalism's motto.