Canada’s six largest banks are expected to report their first decline in earnings in two years as rising economic pessimism spurs them to stockpile more capital to protect against potential loan losses.
Net income for the country’s six largest lenders is expected to fall 4.5% to a combined C$14.4 billion ($11.1 billion) for their fiscal third quarter, according to the average of analysts’ estimates compiled by Bloomberg. It would be the first drop from a year earlier since the same quarter in 2020. Earnings reports start Tuesday, kicked off by Bank of Nova Scotia.
Loan Caution May Give Canadian Banks First Profit Drop Since ’20 & Latest News Update
Loan Caution May Give Canadian Banks First Profit Drop Since ’20 & More Live News
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Loan Caution May Give Canadian Banks First Profit Drop Since ’20 & More News Today
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