News Topic: Canada

Royal Bank, the first Canadian lender to report fiscal third-quarter results, saw a jump in profit from its domestic banking operations amid signs that the nation's economy is accelerating. ... Read full article

A federal regulator has agreed to review an advisory prohibiting Canadian credit unions from using the words "bank" or "banking" in their marketing, but some say it will take more than that before credit unions can truly compete with ... Read full article

CIBC plans to spend two years focusing on internal growth at PrivateBank except for some targeted wealth management acquisitions, but ultimately capital outlays or takeovers will be necessary to meet its growth ambitions. ... Read full article

The billionaire investor agreed to buy shares at a deep discount and provide a fresh credit line for the Canadian mortgage company, tapping a formula he used to prop up lenders from Goldman Sachs to Bank of America. ... Read full article

Royal Bank of Canada, the country’s second-largest lender by assets, is cutting about 450 positions, mostly at its headquarters. ... Read full article

Not only is the uninsured sector growing, but the Bank of Canada is seeing some riskier mortgages within that area as it studies recent disruptions in the market. ... Read full article

A new tariff on Canadian lumber threatens to further disrupt homebuilding at a time when lenders are increasingly concerned about a purchase mortgage resurgence that has failed to materialize. ... Read full article

Canada's big banks are pursuing wholesale banking, capital markets and select M&A opportunities across the border to hedge against a slowing mortgage market and other economic concerns on the home front. ... Read full article

The Toronto bank said increases in deposits and loans spurred a 20% rise in profit at its U.S. retail bank from a year earlier. ... Read full article

HSBC is getting aggressive in Canada — and one needs to look no further than its latest mortgage rate for proof of broader ambitions. ... Read full article

Canadian Imperial Bank of Commerce increased its offer for PrivateBancorp Inc. by $3 a share in cash to offset the decline in the bidder's stock price. ... Read full article

Tangerine Bank, the digital lender owned by Bank of Nova Scotia, will start offering credit lines this year as it seeks to boost revenue and bolster flagging profit through expanded product offerings. ... Read full article

Bank of Montreal's Bill Downe, the longest-serving chief executive officer among Canada's largest lenders, will retire Oct. 31 after spending a decade expanding the nation's oldest bank through acquisitions in the U.S. and overseas. ... Read full article

Coast Capital Savings, Canada's biggest credit union by membership, plans to expand beyond British Columbia to challenge the dominance of the nation's banks. ... Read full article

Bay Street's highest-paid female banker set a new benchmark for women executives in the banking industry — though their ranks among the top wage earners remain thin. ... Read full article

The Financial Consumer Agency of Canada will review the business practices of the country's banks after reports of tellers allegedly pressuring customers to buy products to meet sales goals. ... Read full article

For every $1,000 increase in the lottery prize in a Canadian province, there was a 2.4% increase in bankruptcy filings by the winner’s neighbors over the next few years, a new working paper shows. ... Read full article