Banking abroad boosts Bank of Montreal, Scotiabank as domestic market slips

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

Sverige Nyheter Nyheter

BMO earnings surge; Scotiabank misses estimates, but hikes dividend

Scotiabank, meanwhile, reported an earnings miss, with profit slipping to around $2.2 billion for the quarter from $2.3 billion a year ago. Adjusted earnings per share were $1.75.

BMO said earnings from its Canadian personal and commercial banking unit rose by $1 million for the quarter, to $647 million, while its U.S. P&C business saw net income rise 43 per cent to $444 million. The lender was buoyed by the corporate-tax cut in the U.S., while it grappled with higher costs in Canada.

In Canada, Scotiabank has been busy trying to digest purchases it made last year, particularly its $2.6-billion acquisition of MD Financial Management. Scotiabank said Tuesday that it had retained 98 per cent of the physician-focused firm’s clients, with “minimal” advisor attrition, 1,600 cross-referrals and 775 new doctor banking customers since the deal closed.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 10. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Scotiabank hikes dividend, but profit slips 4% amid 'significant market volatility'The Bank of Nova Scotia missed earnings estimates
Källa: VancouverSun - 🏆 49. / 61 Läs mer »

Scotiabank hikes dividend, but profit slips 4% amid 'significant market volatility'The Bank of Nova Scotia missed earnings estimates
Källa: VancouverSun - 🏆 49. / 61 Läs mer »

Market volatility, mortgages loom over upcoming earnings of Canada's big banksCanada's biggest banks are set to report on what has traditionally been the strongest quarter of the year, but market volatility and slower mortgage growth during the period could weigh on their latest results. When have banks not made billions by profiting off workers' backs?
Källa: CTVNews - 🏆 1. / 99 Läs mer »

How mortgages and market volatility could impact earnings for Canada’s big banksThe banks are about to report on what has traditionally been the strongest quarter of the year, but this year might be different Oh no! The poor banks! It's time to change mortgages regulations and to make modular and cooperative building completely tax free, mainly to help house seekers in need but also to deactivate the provincial tories' regime making plans OntarioNDP
Källa: nationalpost - 🏆 10. / 80 Läs mer »