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National Bank

National Bank Q3 profit edges higher, provision for credit losses also up

Revenues in wealth management increased 6% year over year

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U.S. economic growth for last quarter revised downward

Consumer spending showed a decent gain but was down from Q1

Conquest partners with CapIntel

Deal brings Conquest software to CapIntel platform

  • By: IE Staff
  • August 30, 2023 August 29, 2023
  • 09:01

Scotiabank loan growth slows on cautious approach, deposit focus

The bank's wealth management profits declined from the previous quarter

BMO earnings hit by severance, legal costs as it focuses on containing expenses

Costs related to layoffs totalled $223 million, though the bank didn't disclose the number of employees let go

AI technology

Survey reveals age divide in use of AI for finances

Many who remain skeptical may be using the technology already

a man on a precipice

Five things to watch for in the Canadian business world this week

Bank earnings continue, with jobs and GDP data later in the week

British Columbia wildfires

Canadian banks face squeeze between climate expectations, market pressures

Activists say banks aren't delivering on efforts against climate change

RBC Bank branch stock photo

RBC reports $3.9B profit, says ramping up job cuts ahead of economic slowdown

The warning about cuts follows the bank's trimming of 1% of full-time equivalent employees in Q3

Modern office building close up in sunlight

TD Bank Group discloses U.S. regulatory inquiry into compliance practices

The bank also reported lower profits and rolled out an expanded share buyback program

liquid dollar sign

Advocis addresses liquidity after poor 2022 results

The association extended its line of credit, got a loan and tapped into its $5.5-million reserve fund

Central bankers deciding economy

With U.S. economy still humming, are we facing higher-for-longer interest rates?

As central bankers gather at Jackson Hole conference this week, speeches will be scrutinized for hints

Hand stopping dominos

Big Six branches continue to bar sales of non-proprietary product

As OSC review gathers dust, regulators continue to question the ethics of proprietary-only product shelves

  • By: Katie Keir
  • August 23, 2023 August 23, 2023
  • 12:00
Mortgage signing

Home prices post second biggest monthly jump since 2006

Recent rises in home price index erased some of the earlier correction, Teranet–National Bank report said

China flag

China’s Evergrande says it is asking U.S. court to approve debt plan

The giant Chinese real estate developer rejected news reports about bankruptcy

Solvency of Ontario DB pension plans edged up in Q2

Regulator urged administrators to assess and mitigate risks

  • By: IE Staff
  • August 17, 2023 August 17, 2023
  • 17:19
School exam student's taking educational admission test in class, thinking hard, writing answer in university classroom, education and world literacy day concept (School exam student's taking educational admission test in class, thinking hard, writing

Back-to-school means RESP withdrawal time

Experts highlight considerations such as portfolio risk level, limits on EAPs

Downward slide

Fintech investment down in first half of 2023 as valuations tumble

Recession fears and inflation weigh on activity, a KPMG report says

angry client meeting

Suspensions up for financial planners in 2022

The FP Canada Standards Council released its annual enforcement activity

  • By: IE Staff
  • August 16, 2023 August 16, 2023
  • 16:55
U.K. inflation

U.K. inflation falls to 17-month low but unlikely to derail another interest rate rise

Annual rate falls to 6.8% largely driven by lower energy prices, according to Office for National Statistics

Charts and graphs

Quebec fund manager CDPQ reports 4.2% return in first six months of 2023

Net assets totalled $424 billion on June 30

Ontario Teachers’ post 1.9% first-half return as asset mix shifts to bonds

With interest rates rising, the fund increased its fixed income holdings

Cropped shot of an unidentifiable businesswoman

Which firms are seeking dual registration with CIRO?

The process of becoming dually registered could span several years, CIRO warns

  • By: Katie Keir
  • August 15, 2023 August 28, 2023
  • 09:40
United States flag with Bitcoin cryptocurrency

FTX founder Sam Bankman-Fried jailed in New York

Judge says crypto mogul tampered with witnesses

Lifecos see mixed earnings in latest quarter

Rising interest rates led to drops in net income for Great-West Lifeco and Sun Life

  • By: IE Staff
  • August 11, 2023 August 11, 2023
  • 11:34