The chief executive officer of Bank of Montreal suggested to shareholders on Tuesday that the lender is eyeing even further growth in the United States, even as he swatted away concerns about the possibility of recession and the health of the housing market in Canada.
Canada’s big banks, however, have had to face some recently renewed skepticism. One of those skeptics continues to be Steve Eisman, the Neuberger Berman portfolio manager made famous by the book The Big Short, who has taken aim at the Canadian banks over concerns about the housing market and the broader economy.“And in any event, I think the market is a lot healthier than some people think it is,” he told reporters.
That help includes an incentive that would see the Canada Mortgage and Housing Corp. help finance the purchase of a home and another proposal to increase the amount that first-time buyers can withdraw from their RRSPs.Still, White noted in his speech that the bank’s U.S. segment has recorded a compound annual earnings growth rate of 17 per cent since 2015 — with most of that coming organically — and that the lender now has cross-border capabilities throughout the business.
Ship’s new, growing saltwater swimming pool “a lot healthier than some people think” Titanic engineer says.
Sounds familiar.
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