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.
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 banks there.
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.
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.
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.
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.
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.
