Canadian banks go on a hiring spree, defying tight labour market and surging inflation

  • 📰 nationalpost
  • ⏱ Reading Time:
  • 34 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 80%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Banks are getting aggressive as they try to compete for talent with tech companies. Learn more about the Canadian banks\u0027 hiring spree.

Their expansion in the midst of surging inflation could threaten profit margins, particularly as higher interest rates weigh on loan volumes.

The top five banks had increased their Canadian full-time equivalent positions to a record 171,730 in the first quarter of fiscal 2022, up 4.3 per cent from a year ago for the fastest pace in at least three years, according to Reuters’ analysis of the banks’ statements.Article contentin the finance, insurance and real estate industries was at a record low 1 per cent in March, the lowest of any industry in Canada.

Bank of Montreal, whose Canadian workforce grew by 7.5 per cent, the fastest of the major lenders, has been expanding its technology operations and personal and commercial banking, said Karen Collins, its head of people.Article content

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 10. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines