Large U.S. banks like JPMorgan Chase and Citigroup have been warned about putting aside too little money to guard against loan losses, says Financial Times.
Those who live by the old investment adage ‘sell in May and go away’ may not be following a healthy investment strategy. According to BMO InvestorLine, an online investing service, investing should be a habit and must be done with a regular routine. “Consider establishing a schedule for your investments and managing your portfolio,” says […]
Bank of America is set to cut up to 16,000 jobs by year-end, reports Tom Braithwaite of Financial Times. This will bring its total headcount to 260,000, down from 288,000 in 2010. Read: Morgan Stanley revenue tanks; Bank of America beats targets The cuts are part of a cost-cutting initiative, “New BAC,” a broad efficiency […]
Despite the global financial crisis and taking a loss on Lehman Brothers, Scotiabank remained profitable in 2008. Hear about the lessons they learned from the recession about risk management.
Surveys have long predicted the growing popularity of cashless payments. And now, the Canadian Government has expanded the Code of Conduct for the Credit and Debit Card Industry to include mobile payments.
First Nations Bank of Canada has completed its transition away from the operating systems, products and services of TD Bank.
Though Canadian banks outperformed in Q3 2012, they’ll face major headwinds going forward, says a new report by Fitch Ratings.
Scotiabank may have started a trend. In the second transaction of its kind in a week, the bank has teamed up with Bank of Xi'an, a Chinese financial institution, to help ease the financial transition of Canada-bound immigrants.
Scotiabank has teamed up with India's Kotak Mahindra Bank to provide financial services to new Canadian immigrants, as well as to Indo-Canadians seeking help in India.
Canada's biggest banks delivered $7.8 billion of cumulative profit in Q3 2012. The performance of the banks left analysts' restrained predictions in the dust, marking an increase of 45% from net income of $5.38 billion a year ago.