Canadian Banks Report Mixed Q2 Earnings | TD, BNS, BMO & NA

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In this episode, we check out the most recent earnings reports from Canada's biggest banks, which reveal a mix of profit declines and strength in the face of financial pressures. Higher expenses and increased arrangements for prospective loan losses are common styles. We break down the numbers from TD Bank, Scotiabank, Bank of Montreal, and National Bank of Canada.

Also in this episode:.
Increasing debt issues as more Canadians make just minimum charge card payments, affected by the cost-of-living crisis and high-interest rates.
ConocoPhillips to acquire Marathon Oil in a $22.5 billion offer, including substantial reserves and cost savings.
Gildan Activewear CEO Glenn Chamandy re-elected to the board, aiming for leadership stabilization after a duration of internal dispute.

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Canadian Banks Report Mixed Q2 Earnings | TD, BNS, BMO & NA

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About the Author: Richard Money

15 Comments

  1. As a BMO owner, it sure seems like the stock price exaggerates the financial results…EPS is ‘off’ but the other metrics you note look pretty good…especially compared to TD and the money laundering issues they are having in the USA.

    1. Their provision for impaired loans was up over 170% year over year and they took losses on almost 40% of it……when banks take money from the bottom line for PCLs yes EPS seems “off” because they’ve moved it from the income statement but when they start actually realizing those losses on the balance sheets that’s a huge, huge loss of shareholder value, and just watch what happens the Canadian real estate market FOMO from 2020 and 2021 actually does roll over on renewals next year and the year after. A few rate cuts cannot even come close to avoiding what is inevitably going to have to happen.

  2. How about analyzing POW, wealthsimple, which is better than EQB. Thanks. I’ve moved my assets to wealthsimple, I left EQBank

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