tag:blogger.com,1999:blog-202586592024-02-18T22:24:54.830-05:00Canadian Banks & InsuranceAnalyst Reports • Articles • Company & Industry InformationUnknownnoreply@blogger.comBlogger1321125tag:blogger.com,1999:blog-20258659.post-69424674346804538992019-11-21T20:00:00.000-05:002019-11-21T20:33:09.852-05:00TD CEO Bharat Masrani Knows When to Hold, or Fold, When the Stakes Are HighThe Globe and Mail, Andrew Willis, 21 November 2019
Toronto-Dominion Bank chief executive Bharat Masrani, is one of those card sharks, caught in the late stages of a high-stakes game with Charles Schwab.
Do you ever watch poker tournaments on TV? Here’s what happens: The longer the game, the bigger the wagers get and the more likely players are to go bust when betting on a hand
Unknownnoreply@blogger.comtag:blogger.com,1999:blog-20258659.post-7903387315639257682019-11-15T22:00:00.000-05:002019-11-15T23:36:19.630-05:00After A Rough Patch, Gerry Schwartz Bets On A New Approach at OnexThe Globe and Mail, Andrew Willis, 15 November 2019
Call it Onex 2.0.
Canada’s pioneering private-equity investor, Gerry Schwartz, is reinventing his firm on the fly. At a time when many of his billionaire peers are responding to increasing competition for deals – and their looming mortality – by closing down their funds to play with their grandkids, Onex Corp.’s 77-year-old founder and chief Unknownnoreply@blogger.comtag:blogger.com,1999:blog-20258659.post-30057655638055000882019-11-01T17:00:00.000-04:002019-11-01T21:18:03.444-04:00Derek Neldner, New Head of RBC Capital Markets Has Work Cut Out for HimThe Globe and Mail, Rita Trichur, 1 November 2019
Derek Neldner took the reins as group head of RBC Dominion Securities Inc. on Friday, and he’s got his work cut out for him.
Make no mistake: RBC’s capital-markets arm still defines the big leagues on Bay Street and is a Top 10 global investment bank. But these days, its bankers have a little less reason to swagger. Corporate clients are more Unknownnoreply@blogger.comtag:blogger.com,1999:blog-20258659.post-24844646320384596452019-10-30T21:00:00.000-04:002019-10-31T03:06:34.483-04:00National Bank is the Only Bank to Outperform the S&P/TSX Composite (YTD)The Globe and Mail, David Berman, 30 October 2019
Among Canada’s Big Six banks, just one is trading at a relatively high valuation: National Bank of Canada. And that gives the stock one extra hurdle to clear as the fiscal year ticks down.
Over all, the biggest banks are on a roll after rebounding from a sell-off toward the end of 2018, with average gains of 13.3 per cent year-to-date.
But Unknownnoreply@blogger.comtag:blogger.com,1999:blog-20258659.post-81531345306344828882019-07-26T16:00:00.000-04:002019-07-26T17:49:52.506-04:00Reimagining RBC: How Canada’s Biggest Bank Is Tackling the Never-ending Threat of DisruptionThe Globe and Mail, James Bradshaw & Tim Kiladze, 26 July 2019
Top executives at Royal Bank of Canada were feeling pretty confident in 2016 that a new retail strategy they were crafting would be groundbreaking.
Their plan, dubbed Vision 2025, would reshape the way they approached retail banking. A decade out, RBC imagined acquiring customers in bold new ways, including starting businesses that Unknownnoreply@blogger.comtag:blogger.com,1999:blog-20258659.post-71566173066825403692019-04-24T10:00:00.000-04:002019-04-24T13:52:51.973-04:00RBC Capital Markets Is Playing In A Different League Than Its Canadian RivalsThe Globe and Mail, Marina Okhromenko, 24 April 2019
It’s time to acknowledge that when it comes to investment banking, RBC Capital Markets is playing in a different league than its Canadian rivals. The deal-making arm of Royal Bank of Canada churned out $8.4 billion in revenue last year, almost as much as its second- and third-ranked domestic competitors put together. In the same way it seems Unknownnoreply@blogger.comtag:blogger.com,1999:blog-20258659.post-59815605027190384792019-04-10T17:00:00.000-04:002019-04-10T23:38:16.554-04:00Why Shorting the Canadian Banks on Housing Makes No SenseThe Globe and Mail, Tim Kiladze, 10 April 2019
When Steve Eisman warns about a downturn, investors listen – so his recent bet against Canadian banks is getting a lot of attention.
Famous for his prescient call against the United States housing market before the 2008 global financial crisis, one of the fantastically profitable wagers profiled in The Big Short, Mr. Eisman, a fund manager, is now Unknownnoreply@blogger.comtag:blogger.com,1999:blog-20258659.post-64351044568529989812019-04-09T17:00:00.000-04:002019-04-10T23:39:30.594-04:00Scotiabank Spending $300-million a Year in Anti Money Laundering EffortsThe Globe and Mail, James Bradshaw, 9 April 2019
Bank of Nova Scotia is spending about $300-million annually to combat money laundering even as it pulls out of some riskier markets, at a time when Canada’s government is promising new resources to fight financial crime.
The bank’s chief executive officer, Brian Porter, voiced support for an array of new measures unveiled by the federal Unknownnoreply@blogger.comtag:blogger.com,1999:blog-20258659.post-5920469921097796922019-03-08T17:00:00.000-05:002019-03-09T18:51:09.597-05:00Big 5 Banks Led the 2009-2019 TSX Bull Market Run The Globe and Mail, Tim Shufelt, 8 March 2019
On Day 1 of the recovery from the worst bear market since the Great Depression, the big Canadian banks led the charge on the Toronto Stock Exchange.
Royal Bank of Canada’s shares rose 14 per cent on March 10, 2009, as investors stormed back into the much-maligned financials sector. RBC’s fellow Big Five incumbents all posted double-digit gains of Unknownnoreply@blogger.comtag:blogger.com,1999:blog-20258659.post-53067161849291275622019-02-22T21:00:00.000-05:002019-02-22T21:54:45.404-05:00Comparison of the All-in-One Diversified ETF PortfoliosThe Globe and Mail, Dan Bortolotti, 22 February 2019
In many aspects of our lives, we embrace convenience. We buy prepared meals instead of assembling and cooking the ingredients ourselves. We shop in malls rather than driving to four or five individual stores. We recognize our time is valuable and our mental bandwidth is limited, so we look for very good solutions, not perfect ones.
Except Unknownnoreply@blogger.comtag:blogger.com,1999:blog-20258659.post-19596290566896986872019-02-18T17:00:00.000-05:002019-02-19T18:34:19.302-05:00Preview of Q1 2019 EarningsThe Globe and Mail, David Berman, 18 February 2019
Canada’s biggest banks are set to report their fiscal first-quarter results starting this week, and once again the focus is on deteriorating economic conditions and slower loan growth – a theme that ran through the latter half of 2018.
Royal Bank of Canada will kick things off on Friday, when it reports results for the three-month period ended Unknownnoreply@blogger.comtag:blogger.com,1999:blog-20258659.post-90703339672628868702019-02-01T19:00:00.000-05:002019-02-01T22:01:22.608-05:00RBC Lowers Outlook on BanksThe Globe and Mail, David Berman, 1 February 2019
Canadian bank stocks have rebounded over the past six weeks after touching their lowest valuations since the financial crisis. But an enduring recovery rests on profit and revenue growth over the year ahead, and the outlook here is murky at best.
For sure, the stocks are enjoying some momentum right now. The Big Six have risen 11.4 per cent Unknownnoreply@blogger.comtag:blogger.com,1999:blog-20258659.post-60730411869754822172019-01-24T06:00:00.000-05:002019-01-24T12:12:12.163-05:00TD Bank’s Bharat Masrani on Managing Through Chaos and His Bank’s Bright FutureThe Globe and Mail, Trevor Cole, 24 January 2019
Since Bharat Masrani took over TD, the bank's adjusted income has soared 50%. Bankers like predictability, and a few things have stayed unchanged since late in 2014, when Bharat Masrani became the first person of colour to run a major Canadian bank. At the time, TD was the second-largest bank in Canada, and it remains so. Masrani’s unassuming Unknownnoreply@blogger.comtag:blogger.com,1999:blog-20258659.post-16264962930331004992019-01-09T09:00:00.000-05:002019-01-09T13:57:24.982-05:00Banks Brush Off New Capital Rules, Saying They Have ‘No Impact’The Globe and Mail, James Bradshaw, 9 January 2019
The chief executives of Canada’s largest banks are shrugging off tougher capital requirements introduced by the banking regulator, saying the change will have no impact on plans for acquisitions, dividend hikes or share buybacks.
Last June, the Office of the Superintendent of Financial Institutions (OSFI) revealed for the first time that the Unknownnoreply@blogger.comtag:blogger.com,1999:blog-20258659.post-7651895059684888662019-01-08T17:00:00.000-05:002019-01-08T20:00:49.829-05:00RBC, BlackRock Team Up to Create Canada’s Largest ETF BrandThe Globe and Mail, Tim Kiladze & Clare O'Hara, 8 January 2019
Royal Bank of Canada and BlackRock Inc. are joining forces to sell exchange-traded funds, forming a rare partnership between Canada’s largest asset manager and the country’s biggest ETF provider.
Under the brand RBC iShares, the firms will create and market ETFs, which are best-known as passive investments that track major indexes Unknownnoreply@blogger.comtag:blogger.com,1999:blog-20258659.post-67732633305022676012019-01-07T18:00:00.000-05:002019-01-08T11:04:33.439-05:00RBC Devoted to Slow-but-Steady Approach to Becoming International Powerhouse in Investment BankingThe Globe and Mail, Andrew Willis, 7 January 2019
Doug McGregor contends that he knows exactly what it would take to quickly vault Royal Bank of Canada’s capital markets business into the very top ranks of global investment dealers.
“All we would have to do is take on more risk, or accept lower profitability,” Mr. McGregor says. And as he begins his second decade as CEO of RBC Capital Markets, Unknownnoreply@blogger.comtag:blogger.com,1999:blog-20258659.post-4992187351255504422019-01-02T21:00:00.000-05:002019-01-03T09:19:02.659-05:00Bank Stocks Have Seldom Looked This EnticingThe Globe and Mail, David Berman, 2 January 2019
Add Canadian banks to the long list of stocks that delivered dismal returns in 2018. But some encouraging developments have emerged from the sell-off: Valuations are low and dividend yields have risen to 4.6 per cent on average, pointing to a good buying opportunity right now.
First, let’s recap what happened in 2018.
The Big Six bank stocks Unknownnoreply@blogger.comtag:blogger.com,1999:blog-20258659.post-24556558845361536772018-12-25T20:00:00.000-05:002018-12-26T09:21:09.012-05:00How Blocked Mergers Foiled Banks' Ambitions — and Forced the Big Six to InnovateThe Globe and Mail, James Bradshaw, 25 December 2018
When Royal Bank of Canada and Bank of Montreal announced a surprise plan to merge on Jan. 23, 1998, the news landed like a bombshell. By the time then-finance minister Paul Martin dashed their hopes less than a year later, the notion of mega-bank mergers had turned radioactive.
It was 20 years ago, on Dec. 14, 1998, when Mr. Martin turned Unknownnoreply@blogger.comtag:blogger.com,1999:blog-20258659.post-31908629053235489402018-12-11T21:00:00.000-05:002018-12-12T00:43:32.336-05:00Banks Made $45.3-billion in 2018. Who’s Shining Brightest?The Globe and Mail, David Berman, 11 December 2018
Fans of Canadian bank stocks will appreciate this number: $45.3-billion.
That’s the total profit generated by the Big Six banks in fiscal 2018 (which ended Oct. 31), and the gargantuan number reinforces why the banks have been delivering stellar gains and rising dividends over the long term.
Buying all six bank stocks and holding on during Unknownnoreply@blogger.comtag:blogger.com,1999:blog-20258659.post-10024980038781118632018-12-09T21:00:00.000-05:002018-12-09T23:41:19.501-05:00Banks Brush Off Oil-Price CrashThe Globe and Mail, Tim Kiladze & Alexandra Posadzki, 9 December 2018
Canada’s largest banks are brushing off the recent crash in domestic-crude prices, confident that their loan books are in solid shape.
Collectively, the Big Six banks reported $45-billion in annual profits for fiscal 2018, which ended on Oct 31. Yet on recent conference calls to discuss their fourth-quarter earnings, analystsUnknownnoreply@blogger.comtag:blogger.com,1999:blog-20258659.post-26864484062965649982018-12-04T17:00:00.000-05:002018-12-04T20:55:57.424-05:00BMO Q4 2018 EarningsThe Globe and Mail, Tim Kiladze, 4 December 2018
Bank of Montreal’s personal and commercial banking profits surged in the United States over the past fiscal year, but the uncertainty of a repeat performance is clouding the lender’s outlook.
Similar to rivals Toronto-Dominion Bank and Canadian Imperial Bank of Commerce, BMO operates a sizable bank in the United States that focuses on traditionalUnknownnoreply@blogger.comtag:blogger.com,1999:blog-20258659.post-26557381841217344352018-11-29T20:00:00.000-05:002018-11-29T22:02:06.896-05:00CIBC & TD Bank Q4 2018 EarningsThe Globe and Mail, Tim Kiladze, 29 November 2018
Toronto-Dominion Bank and Canadian Imperial Bank of Commerce can thank a hot U.S. economy for higher profits. But the banks' sizable American operations aren’t expected to deliver as much growth in 2019 because of rising competition.
TD and CIBC, which both released year-end earnings on Thursday, have a lot of exposure to the United States Unknownnoreply@blogger.comtag:blogger.com,1999:blog-20258659.post-30116562265898090992018-11-28T18:30:00.000-05:002018-11-28T19:20:47.660-05:00RBC Q4 2018 EarningsThe Globe and Mail, Tim Kiladze, 28 November 2018
Royal Bank of Canada reported solid profits on Wednesday for the ninth straight year, and, like clockwork, the bank’s executives were rewarded with skeptical questions from analysts about the odds of future success.
Such scrutiny is almost automatic for Canada’s largest public company by stock-market value. Canadian banks have faced one Unknownnoreply@blogger.comtag:blogger.com,1999:blog-20258659.post-6779104412265729812018-11-27T19:00:00.000-05:002018-11-27T23:03:30.949-05:00Scotiabank Q4 2018 EarningsThe Globe and Mail, Tim Kiladze, 27 November 2018
Bank of Nova Scotia signalled that it will take a breather from major acquisitions, after racking up deals totalling nearly $7-billion over the past year.
Chief executive Brian Porter said the focal point in 2019 will be on merging these purchases into the bank’s existing operation instead of seeking out new acquisitions. At the same time, Unknownnoreply@blogger.comtag:blogger.com,1999:blog-20258659.post-3332967076444797262018-11-25T17:00:00.000-05:002018-11-26T02:09:46.598-05:00Analysts Offer Mixed Outlook on Big Six Q42018 ResultsThe Globe and Mail, David Berman, 25 November 2018
Canada’s biggest banks will report their fiscal fourth quarter results starting this week, and analysts are expecting a strong finish to the year. But given the stock market is dominated by concerns over slowing economic activity, will investors care?
Bank of Nova Scotia will kick off the reporting on Tuesday, followed by Royal Bank of Canada Unknownnoreply@blogger.com