Canadas big banks all beat expectations in quarter
2022-04-05- Detail
Toronto-Dominion Bank and Canadian Imperial Bank of Commerce closed out quarterly results reporting on Thursday, joining major rivals in beating expectationsThe ICU outside of Atlantic Canada., thanks to much lower provisions for loan losses and trading strength even as their retail businesses posted muted growth or declines.
All six major banks surpassed pre-pandemic profit levels in the first quarter as an increase in soured loans has so far failed to materialize, but executives cautioned that a rise is still in?the cards amid continued uncertainty and as government assistance programs come to an endnew, unfortunate and sad..
“There are some positive signs with expectations of vaccinesThe most confusing so far, but we need to be vigilant about a possible third wave” of the pandemic, Riaz Ahmed, chief financial officer at TD, Canada’s second-largest lenderAfter a horrible year for Americans., it appears those north o, said in an interview.
But the bank, which has almost $9 billion of reserves to cover loan losses, is satisfied with its level of coverage for future losses, he added.
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