BMO Financial Group has released strong Q3 2012 results. Its net income rose by 37% to $970 Million, or $1.42 per share.
Almost half of Canadians have a TFSA, says a recent CIBC poll. But the problem is nearly half those holders have no plans for the money they save.
The side effects of the controversy surrounding the British bank Standard Chartered’s alleged involvement in laundering money for Iran are being felt right here in Canada.
Investors worldwide are deeply concerned about the stability of their banks. Canadians, though, have nothing to worry about, with seven of our banks listed on Global Finance’s 21st annual ranking of the world’s 50 safest banks.
Despite negative headlines, bank stocks are still strong, says Andrew Torres, CIO of Lawrence Park Capital Partners.
On July 24, 2012, a hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a settlement agreement between its staff and CIBC World Markets Inc. CIBC admitted from May 2005 to October 2008, it failed to effectively exercise its supervisory responsibilities. It let unsuitable options trades—not suitable for two clients—slip through the […]
Spain’s long-term government debt rating is stable for now, says ratings firm S&P, so long as the government doesn’t increase the country’s bank bailout, reports the Wall Street Journal. Struggling Bankia—the country’s third largest lender—was rescued in late May, with an infusion of $23.78 billion, or €19 billion. And while Prime Minister Mariano Rajoy said […]
Canadian banks avoided the worst of the global financial crisis due to successful public policy and good management, said Rob Wessel, Managing Partner of Hamilton Capital in Toronto, in an article written for the Globe and Mail. “For much of the past century, our policy makers have successfully – and deliberately – created a very […]
Macquarie Group’s securities business is set for a second consecutive annual loss if market conditions don’t improve.
Consumer loyalty has declined at banks this year, and many Canadians are frustrated with the change in fee structures, finds a study by J.D. Power and Associates.