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.


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.


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.


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.


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.


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.


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.


Digital IDs would help unlock Canada's economy, bank group says


Canada needs to embrace digital identification to "unlock the full potential" of banking and the economy, Canadian Bankers Association Chief Executive Officer Neil Parmenter said.


RBC Capital Markets will start doing deals for pot companies


Royal Bank of Canada's investment-banking division will advise on stock sales and arranging takeovers for companies in the marijuana industry, joining Bank of Montreal's BMO Capital Markets in serving an industry that didn't exist five years ago.


RBC's rising margins push Canadian banking profit to record


Royal Bank of Canada posted its highest domestic net interest margin in five years, pushing quarterly earnings past analysts' estimates and boosting annual profit from its Canadian banking division to a record.