Banking industry – Advisor's Edge https://phoenix.advisor.ca The best news source for Canadian financial advisors. Investments, financial markets, insurance, practice management, tax and estate planning Fri, 06 Oct 2023 18:42:59 +0000 en-CA hourly 1 https://wordpress.org/?v=5.9.3 https://phoenix.advisor.ca/wp-content/uploads/sites/5/2018/05/cropped-advisor-ico-32x32.png Banking industry – Advisor's Edge https://phoenix.advisor.ca 32 32 Regulators learn from latest banking sector turmoil https://phoenix.advisor.ca/news/regulation/regulators-learn-from-latest-banking-sector-turmoil/ Fri, 06 Oct 2023 18:42:59 +0000 https://www.advisor.ca/?p=231568 Report highlights risk management failures, supervisory shortcomings

The post Regulators learn from latest banking sector turmoil appeared first on Advisor's Edge.

]]> Rough return to office to weigh on banks: DBRS https://phoenix.advisor.ca/investments/market-insights/rough-return-to-office-to-weigh-on-banks-dbrs/ Thu, 05 Oct 2023 19:43:49 +0000 https://www.advisor.ca/?p=231537 Weakness in commercial real estate will impact Big Six loan portfolios

The post Rough return to office to weigh on banks: DBRS appeared first on Advisor's Edge.

]]> Fintech group pushes for action on open banking, payments modernization https://phoenix.advisor.ca/news/industry-news/fintech-group-pushes-for-action-on-open-banking-payments-modernization/ Wed, 04 Oct 2023 16:39:01 +0000 https://www.advisor.ca/?p=231489 Campaign cites high banking fees, payments processing costs

The post Fintech group pushes for action on open banking, payments modernization appeared first on Advisor's Edge.

]]> EQB signs deal for 75% stake in alternative asset manager ACM Advisors https://phoenix.advisor.ca/news/industry-news/eqb-signs-deal-for-75-stake-in-alternative-asset-manager-acm-advisors/ Tue, 03 Oct 2023 14:42:06 +0000 https://www.advisor.ca/?p=231420 ACM specializes in pooled Canadian commercial mortgage funds

The post EQB signs deal for 75% stake in alternative asset manager ACM Advisors appeared first on Advisor's Edge.

]]> Laurentian Bank appoints new CEO after computer mainframe outage https://phoenix.advisor.ca/news/industry-news/laurentian-bank-appoints-new-ceo-after-computer-mainframe-outage/ Mon, 02 Oct 2023 19:37:16 +0000 https://www.advisor.ca/?p=231386 The computer issue comes only weeks after Laurentian completed a strategic review without a deal to sell the bank

The post Laurentian Bank appoints new CEO after computer mainframe outage appeared first on Advisor's Edge.

]]> JPMorgan to pay US$75 million on claims that it enabled Jeffrey Epstein’s sex-trafficking operations https://phoenix.advisor.ca/news/industry-news/jpmorgan-to-pay-us75-million-on-claims-that-it-enabled-jeffrey-epsteins-sex-trafficking-operations/ Tue, 26 Sep 2023 17:21:12 +0000 https://www.advisor.ca/?p=231154 The bank had already agreed to pay US$290 million in a class-action lawsuit that involved Epstein's victims

The post JPMorgan to pay US$75 million on claims that it enabled Jeffrey Epstein’s sex-trafficking operations appeared first on Advisor's Edge.

]]> Industry moves this week https://phoenix.advisor.ca/news/industry-news/industry-moves-this-week-42/ Fri, 22 Sep 2023 18:43:55 +0000 https://www.advisor.ca/?p=231052 IFIC elected board members and some well-known names received promotions

The post Industry moves this week appeared first on Advisor's Edge.

]]> BMO to shutter retail auto finance business as bad debt mounts https://phoenix.advisor.ca/news/industry-news/bmo-to-shutter-retail-auto-finance-business-as-bad-debt-mounts/ Mon, 18 Sep 2023 15:28:42 +0000 https://www.advisor.ca/?p=230832 The bank's provisions for credit losses in its retail line rose 800% to $81 million last quarter

The post BMO to shutter retail auto finance business as bad debt mounts appeared first on Advisor's Edge.

]]> Deteriorating credit conditions to weigh on banks https://phoenix.advisor.ca/news/economic/deteriorating-credit-conditions-to-weigh-on-banks/ Fri, 15 Sep 2023 17:56:54 +0000 https://www.advisor.ca/?p=230811 Rising credit provisions, funding costs, pinching bank profits, DBRS says

The post Deteriorating credit conditions to weigh on banks appeared first on Advisor's Edge.

]]> Laurentian Bank shares fall as it concludes review without deal to sell https://phoenix.advisor.ca/news/industry-news/laurentian-bank-concludes-review-without-deal-to-sell/ Thu, 14 Sep 2023 14:54:00 +0000 https://www.advisor.ca/?p=230748 Montreal-based bank said it will stick with its current business plan, with an increased focus on efficiency

The post Laurentian Bank shares fall as it concludes review without deal to sell appeared first on Advisor's Edge.

]]>