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Analyst ‘starting to see a divergence’ between Big Six banks as earnings roll in

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An analyst says that he expects mixed results from Canada’s six largest banks this earnings season, as each lender deals with unique challenges amid economic uncertainty.

Benjamin Sinclair, CFA and equity analyst at Odlum Brown, joins BNN Bloomberg to discuss bank earnings for BMO and Scotiabank.

“And on the flip side, banks like , and ; they are dealing with some very challenging situations, and on a shorter term basis, it could very well be quite messy over the next 12 months.” “Provisions have been the main culprit, and within that, the U.S. commercial loan book has been the main driver of that as well, so we’ve seen the shares sell-off and we think that’s appropriate.”

“We’ll see how it goes. The bank has made good progress, so I think it’s appropriate to take a ‘wait and see’ attitude,” Sinclair said.

 

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