Business Brief: The Big Six earnings, and a spotlight on TD

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 50 sec. here
  • 15 min. at publisher
  • 📊 Quality Score:
  • News: 68%
  • Publisher: 92%

Newsletter News

Noastack,Newnewsletter,Cent

Also in today’s edition: Canadians are in overwhelmingly good standing with their mortgage payments

As Toronto-Dominion Bank leads off Canada’s Big Six third-quarter earnings period next week, analysts are largely predicting the lenders will report minor gains or pains – but little to suggest the banks’ budding turnaround might get knocked off course.

For Canada’s largest lenders, who are emerging from a prolonged period of volatility marked by high borrowing costs and slower economic growth, “moderate” might do just fine. And in a research note to clients on Thursday, National Bank of Canada analysts said they’re maintaining a positive sector stand even as it warned of soft earnings this month. “A sufficient level of rate cuts should allow Canadian banks to avoid a sharp uptick in loan losses, as we’ve seen in previous downturns,” they wrote.

Fitch recently lowered the bank’s risk-profile score, citing shortcomings related to findings in TD’s anti-money-laundering practices, “which will continue to garner significant regulatory, political and potentially legal attention in both Canada and the U.S. over the near term.”As of May, roughly 9,500 residential mortgages were in arrears, meaning payments were overdue by three or more months, according to figures published this month by the Canadian Bankers Association.

 

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:

 /  🏆 5. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Brief: Can Loblaw’s growing health care empire earn the trust of Canadian patients?Also in today’s edition: A chart, a quiz and a look at the day ahead
Source: globeandmail - 🏆 5. / 92 Read more »

Business Brief: A market for the metals in the medalsAnother way to take the measure of Olympic victory
Source: globeandmail - 🏆 5. / 92 Read more »

Business Brief: Gildan reveals the high price of winningQuebec clothing maker reports that it paid US$77-million over a prolonged proxy fight
Source: globeandmail - 🏆 5. / 92 Read more »

Business Brief: Can Lil Yachty save McDonald’s?Why falling sales mean we ought to look beyond burgers
Source: globeandmail - 🏆 5. / 92 Read more »

Business Brief: From the wildfires, new battles emergeWeighing the true cost of disaster in Alberta, B.C., the rest of the country and beyond
Source: globeandmail - 🏆 5. / 92 Read more »