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.


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.


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.


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.


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.