Scotiabank made its largest-ever acquisition on Wednesday, with its purchase of the Canadian assets and customers of ING Groep NV for $3.13-billion.
Laurentian Bank reported net income of $30.0 million, or $1.06 diluted per share, for the Q3 2012, compared to $29.1 million in 2011.
Canadian consumers know little about insurance products, says a study released by Desjardins Group. Worse, their money managing habits haven’t changed since last year; few are aware of how their plans work or how they can use them. The study finds only 44% know not all insurance policies come with surrender value, while only 45% […]
The head of Barclays’ retail and business banking operations is moving on up; he’s been named as its new chief executive. Antony Jenkins will fill the post vacated recently by Bob Diamond, in the wake of a scandal over attempts to manipulate LIBOR. “We have made serious mistakes in recent years and clearly failed to […]
CIBC, the country’s fifth largest bank, reported Q3 profit of $841 million, up from $591 million for the same period last year. The bank also hiked its quarterly dividend by 4 cents to 4.4% per share and made public its intention to purchase approximately 2% of its outstanding common shares, subject to the approval of […]
TD Bank delivered a record quarter in Q3 2012, reflecting strong retail and wholesale earnings.
Barclays’ regulatory woes continue to pile up. A new probe is being launched by the Serious Fraud Office (SFO) in the U.K. for the British bank’s bail-out by the Middle East in 2008. The inquiry focuses on the disclosures of commission payments made by Barclays to secure the bail-out funds totaling £11.5 billion (about $18 […]
Large U.S .corporations are beating the path to Chinese banks in a bid to secure additional funding sources. In an arrangement that works both ways, U.S. multinational companies are seeking to increase their presence in the world’s second-largest economy, which in turn provides opportunities for Chinese banks to strengthen their clout with large multinationals and […]
BMO Financial Group today announced its ETF business has surpassed $7 billion in assets under management (AUM) and has grown by $1 billion (16%) in the last two months. “Our recent success has been driven by flows into ETFs which combine growth with attractive income,” says Kevin Gopaul, chief investment officer and senior vice president, […]
Scotiabank profits grew by 57% in the Q3 2012, as its divisions boosted performance and benefited from the sale of the bank’s Toronto headquarters.