Particle.news
Get it on Google Play
Download on the App Store
16 ARTICLES
·
6d ago

Big Six Canadian Banks Top Q1 Estimates on Broad-Based Profit Gains

Executives pointed to trade uncertainty as a key risk to Canada’s outlook.

Toronto-Dominion Bank, Bank of Montreal and Canadian Imperial Bank of Commerce in Toronto's financial district. Canada’s banks have been on similar journeys as they reduce costs and adopt technology to make their operations more efficient.
Royal Bank of Canada signage is pictured in the financial district in Toronto on September 8, 2023. THE CANADIAN PRESS/Andrew Lahodynskyj
April 10, 2025 — A person walks their dog past a TD branch in Vancouver’s Olympic Village neighbourhood. TD Chief Economist and Senior VP Beata Caranci predicted that Canada is entering a recession and unemployment rates will continue to rise. (Isabella Falsetti/The Globe and Mail)
Stock markets may be hitting record highs in the U.S., Japan and Europe, but Canadian bank shares are not catching as much momentum as they head into first quarter earnings results. Bank towers are shown from Bay Street in Toronto's financial district, on Wednesday, June 16, 2010.

Overview

  • RBC led results with profit up 13% to $5.8 billion on strength in personal banking and wealth management, posting record results and a premium ROE.
  • TD’s earnings rose 45% to $4.04 billion, and the bank recorded a final $200 million pre-tax restructuring charge tied to remediation as it reported record adjusted earnings.
  • BMO said its U.S. optimization is about 90% complete and projected a return to positive commercial loan growth in the second half of the year, maintaining a 15% ROE goal.
  • National Bank’s profit rose to $1.25 billion as it integrated Canadian Western Bank, with expanded share buybacks to 14.5 million shares and higher ROE targets reaching 17% by 2027.
  • CIBC beat forecasts with $3.1 billion in profit as multiple divisions strengthened, while banks across the sector increased provisions for credit losses in response to economic uncertainty.