Investing.com
Published May 27, 2022 14:01
By Ketki Saxena
Investing.com – All of Canada’s big six banks reported Q2 2022 earnings this past week, with Scotiabank (TSX:BNS), RBC, and National Bank of Canada (TSX:NA) smashing analyst expectations on profits, BMO (TSX:BMO) and TD (TSX:TD) delivering results in line with expectations, and CIBC (TSX:CM) the only major Canadian bank to fall well short of analyst forecasts due to higher-than-expected costs.
Profits for the big banks were largely boosted by the personal and commercial segments, improving loan margins and lower loan losses, as consumer spending and business investment rebounded following the lifting of public health restrictions.
The big Banks were also 5 for six on dividend hikes, with all but TD raising their quarterly dividends.
Canadian banks remain optimistic about client sentiment and expect growth to continue although perhaps at a more moderate pace as worries of an economic slowdown, driven by rising interest rates and still-high inflation, raise concerns of waning loan demand and rising defaults.
Here’s a post-earnings comparison of Canada’s big six banks reviewing some of the key metrics most important to investors.
BMO: May 25, 2022
Scotiabank: May 25, 2022
TD: May 26, 2022
CIBC: May 26, 2022
Royal Bank of Canada (TSX:RY): May 26, 2022
National Bank of Canada: May 27, 2022
All currencies CAD
All prices as of 1:45 p.m ET.
All fair price and financial upside data from Investing Pro
Written By: Investing.com
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