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Analysts cautious on big bank earnings amid recessionary headwinds

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At least two analysts have revised their earnings expectations for the fourth quarter

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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Analysts cautious on big bank earnings amid recessionary headwindsA combination of factors are working against Canada\u0027s major lenders. Find out more.
Source: financialpost - 🏆 7. / 85 Read more »