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Top related persons:
Victor Dodig - 2 Mark Blinch - 1 Gabriel Dechaine - 1 Kelvin Tran - 1 Dave McKay - 1 Niket - 1 Balu - 1 Arasu Kannagi Basil - 1
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Canada United States Toronto dealmaking PCLs U.S Bengaluru United Kingdom
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Canadian Imperial Bank of Commerce - 2 CIBC - 2 Thomson - 2 Royal Bank of Canada - 1 REUTERS - 1 RBC - 1 National Bank - 1 TD Bank - 1

Search resuls for: "Victor Dodig"


3 mentions found


☆ Canada's RBC, CIBC beat profit estimates; TD misses on higher loan provisions
  + stars: | 2023-11-30 | by ( Nivedita Balu Niket Nishant | Nivedita Balu | Niket Nishant | ) www.reuters.com   time to read: +4 min
TD said it would be challenging to meet its medium-term adjusted earnings growth target range of 7%-10% in the new fiscal year. It reported adjusted earnings of C$1.83 per share, 7 Canadian cents shy of estimates. RBC reported adjusted earnings of C$2.78 per share, comfortably beating expectations of C$2.62, according to LSEG data. CIBC also beat profit expectations as it set aside smaller-than-expected loan provisions and is slashing costs through a 5% reduction in its workforce, or about 2,400 jobs. The lender, Canada's fifth biggest, reported adjusted earnings of C$1.57 per share, compared with expectations of C$1.53.
Persons: Mark Blinch, Gabriel Dechaine, Kelvin Tran, Victor Dodig, Dave McKay, Niket, Balu, Arasu Kannagi Basil, Shinjini Ganguli, Kirsten Donovan, Mark Porter Organizations: Royal Bank of Canada, REUTERS, Canadian Imperial Bank of Commerce, RBC, National Bank, CIBC, TD Bank, Bank Nova Scotia, Bank of Montreal, Scotiabank, Tuesday, Thomson Locations: Toronto, dealmaking, PCLs, Canada, United States, U.S, Bengaluru
☆ UK could borrow a leaf from Canada’s mortgage book
  + stars: | 2023-07-07 | by ( Edward Chancellor | ) www.reuters.com   time to read: +6 min
The amount of mortgage debt rose even more sharply. This would require lenders to fix total monthly payments – of both interest and principal – relative to the outstanding mortgage balance. When interest rates rise sharply, as is happening now, repayments might be less than the monthly interest bill. The amount of mortgage debt outstanding would then increase as unpaid interest is added to the principal – a situation known as “negative amortisation”. Since borrowers always hand over a proportion of their income, mortgage payments wouldn’t shrink when interest rates decline.
Persons: Irving Fisher, ”, “, Neal Hudson, Michael Gove, Patrick Macaskie, Victor Dodig, Edward Chancellor, Peter Thal Larsen, Oliver Taslic Organizations: Reuters, Bank of England, Office, National Statistics, Bank of, Fiscal Studies, Canadian Imperial Bank of Commerce, CIBC, Reuters Graphics, Thomson Locations: United Kingdom, ”, Britain, England, Bank of England, United States, Canada
☆ HSBC's Canada unit loses National Bank, CIBC as bidders, Global and Mail reports
  + stars: | 2022-10-30 | by ( ) www.reuters.com   time to read: +1 min
HSBC disclosed on Oct. 4 that it was considering selling HSBC Bank Canada, a unit that analysts estimate to be valued around C$8 billion ($5.88 billion) to C$10 billion ($7.35 billion). The Globe and Mail, in its report on Friday, quoted sources familiar with the process as saying that the field of contenders to acquire HSBC Bank Canada from the British lender was narrowing. HSBC Bank Canada includes four divisions covering HSBC's commercial banking, personal banking, investment banking and markets services business in the country. National Bank of Canada declined to comment on the Global and Mail report. HSBC, CIBC and BMO did not immediately respond to requests for comment.
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