CANADIAN BANK BUILDINGS ON BAY STREET.recession, pointing to volatile markets, the need to set more money aside for bad loans and and increasing funding costs among other headwinds.
“The biggest drivers are lower capital markets revenue, less wealth management revenue and higher operating expenses,” Holden wrote in a Nov. 18 note, adding that the two dominant themes for the quarter would be net interest margin expansions and higher credit provisioning. “Overall, our adjusted estimates imply earnings will be down two per cent and on average.”
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