Canada

TD, CIBC beat expectations with surge in capital markets

08/27/20

Record profits from trading and other capital markets activities helped to offset steep revenue declines in personal and business banking.

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Consumers in Canada shun cash and bank branches on virus fears

07/13/20

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.

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Coronavirus lockdown spurs widespread adoption of digital ID tech in Canada

07/09/20

The coronavirus pandemic has led to a massive surge in Canadians using digital identity authentication platforms to get immediate access to government emergency aid.

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Toronto banks lack minority leaders in city of diversity

06/24/20

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.

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Scotiabank earmarks $1.33 billion for bad loans in pandemic

05/26/20

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.

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Record reserves for bad loans set to gut Canadian banks' profits

05/22/20

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.

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Coronavirus accelerates Canada's shift to electronic banking

04/22/20

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.

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TD, CIBC earnings misses cap hard quarter for Canadian banks

12/05/19

The country's top six banks were sideswiped by rising provisions for soured loans and slumping capital markets.

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Manulife wields Amazon Prime, chatbot to battle big banks

06/11/19

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.

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Blockchain adopted by Canadian banks to verify client identities

05/01/19

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.

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