Canadian big bank earnings to take hit from capital markets slump: RBC

📆 09/08/2023 20:31:00
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RBC says slumping capital markets and M&A revenues are set to hit earnings at Canada’s biggest banks. Read more.

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RBC analyst Darko Mihelic chopped his profit forecast on five major Canadian lenders, citing a dearth of deals. The dollar value of mergers and acquisitions handled by the country’s largest banks likely dropped 77 per cent in the fiscal third quarter compared with a year ago, Mihelic calculated, based on data compiled by Bloomberg.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYExclusive articles by Kevin Carmichael, Victoria Wells, Jake Edmiston, Gabriel Friedman and others.

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