Desjardins Group posted a 1.5% increase in operating income, to $14.1 billion, for the fiscal year ended December 31, 2016. Surplus earnings before member dividends were $1.77 billion, down from $1.96 billion in 2015. The difference was primarily due to additional investments in innovative IT platforms, the payment of severance benefits and adjustments to the […]
CIBC’s wealth management business reported net income of $133 million for the first quarter, up $14 million or 12% from the same period a year earlier. Read: Economic releases and news to watch For the period ended January 31, 2017, the bank’s overall net income was $1.41 billion, up from $982 million a year ago. […]
This week, there are several business news items to keep tabs on.
Several financial firms released earnings reports this week, with most seeing increases in income and assets under management.
CI Financial has reported assets under management of $117.9 billion for year-end 2016, up $6.8 billion or 6% from 2015. The company reports strong fund performance in four of the last five quarters but declining net sales due to net redemptions from institutions and from the IIROC-licensed advisor channel. Total assets, which include mutual, segregated […]
Sun Life Financial has reported global assets under management of $903 billion, an increase from $891 billion as at December 31, 2015. Wealth sales increased 14% from 2015, and insurance sales increased 27%. In the fourth quarter, individual wealth sales were $1.5 billion, up 8%. In wealth management, sales growth came from Sun Life mutual […]
As Alberta's economy has improved, so too have ATB Financial's earnings and AUA.
LOGiQ has reported that its AUM increased from $877 million as of September 30, 2016 to $2.8 billion as of December 31, 2016.
Two insurers have reported financial results. For 2016, Manulife Financial Corporation (MFC) has reported net income attributed to shareholders of $2.93 billion, fully diluted earnings per common share (EPS) of $1.41 and return on common shareholders’ equity (ROE) of 7.3%, compared with $2.19 billion, $1.05 and 5.8%, respectively, for 2015. The increase in net income […]
This week will bring more domestic earnings, says Prab Sagoo, associate director at Nasdaq Advisory Services, in his latest weekly highlight.