Monday, February 05, 2007

Strong Q1 2007 Earnings for Banks, Genuity CM Says

Dow Jones Newswires, 5 February 2007

Expect another quarter of strong earnings from Canadian banks, Genuity Capital Markets says. 4Q results from US banks give clue to how northern counterparts performed in 1Q, analyst says. Easing margin compression seen helping Bank of Montreal's Chicago-based Harris subsidiary, while robust capital markets conditions are good news for Royal Bank of Canada and Toronto-Dominion. In summary, "economic, credit, and capital market conditions" remain healthy.