News Topic: Canada
Search Results
Royal Bank of Canada leans on City National, U.S. wealth unit
Scotiabank's U.S. loan growth dulls its capital markets pain
Apple, Affirm to join on buy now/pay later for Canadian purchases
Prepaid cards fill gaps in Canada's banking market
Canada's small businesses pin hopes on real-time payments
Canadian banks eye U.S. acquisitions
Flush with excess capital, Bank of Montreal, TD Bank and others say they might be in the market to do a cross-border deal. ... Read full article
Chase, Air Canada to launch cobranded Aeroplan card in U.S.
JPMorgan Chase is partnering with Air Canada, the bank's first new cobranded card partner to be announced in years. ... Read full article
Payments firms see green as more states legalize pot
One area of certainty in the 2020 election is the momentum for legalizing cannabis, as a string of ballot box victories makes it harder for banks to avoid working with dispensaries and other legal marijuana businesses. ... Read full article
TD, CIBC beat expectations with surge in capital markets
Record profits from trading and other capital markets activities helped to offset steep revenue declines in personal and business banking. ... Read full article
Consumers in Canada shun cash and bank branches on virus fears
Canadian consumers are changing their banking habits to reduce physical contact with others because of COVID-19, according to a new study by McKinsey & Co. ... Read full article
Coronavirus lockdown spurs widespread adoption of digital ID tech in Canada
The coronavirus pandemic has led to a massive surge in Canadians using digital identity authentication platforms to get immediate access to government emergency aid. ... Read full article
Toronto banks lack minority leaders in city of diversity
More than half of Toronto's population is foreign-born — a higher proportion than New York, Paris, London or Sydney — and about 52% identify as a visible minority. But the city's diversity fades in the upper echelons of its financial firms. ... Read full article
Scotiabank earmarks $1.33 billion for bad loans in pandemic
The Toronto company also said it set aside 232 million this year for U.S. regulatory probes into the bank’s metals-trading practices and costs tied to the wind-down of that business. ... Read full article
Record reserves for bad loans set to gut Canadian banks' profits
The second-quarter jump in provisions may be three to four times higher than a year earlier and will be mostly for loans that have yet to go bad, analysts said. ... Read full article
Coronavirus accelerates Canada's shift to electronic banking
Canada's biggest banks have spent more than $71 billion on technology since the last financial crisis in a bet that clients would eventually become more digitally savvy. The pandemic is hastening that shift faster than they could've expected. ... Read full article
TD, CIBC earnings misses cap hard quarter for Canadian banks
The country's top six banks were sideswiped by rising provisions for soured loans and slumping capital markets. ... Read full article
Manulife wields Amazon Prime, chatbot to battle big banks
Manulife Financial, Canada's largest life insurer, is taking on the country's large lenders with a new package of banking products designed to win over digitally savvy millennials. ... Read full article
Blockchain adopted by Canadian banks to verify client identities
Canada is making a big leap in modernizing identity verification, tapping blockchain technology to let consumers digitally prove who they are to securely access banking and other personal services. ... Read full article
Canada's banking regulator opens door to easing mortgage rules
A top official at the Office of the Superintendent of Financial Institutions defended tougher underwriting rules blamed recently for a slump in the nation’s housing market, but left open the possibility that regulations could ease if conditions change. ... Read full article