Banking: Canadian Banks beat expectations in Earnings

TORONTO—Royal Bank of Canada and Bank of Nova Scotia posted better-than-expected fourth-quarter profits Friday on the back of a resilient Canadian economy, but their results reflect their dramatically different strategies.

Unlike its peers, which have sustained margin compression in their Canadian banking businesses, RBC, the country’s largest bank by assets, continued its home-field dominance, with strong volume growth along with stable profit margins. Scotiabank, the third-largest Canadian bank and the most diverse globally, showed its international strength despite global economic uncertainty.

Toronto-Dominion Bank and Canadian Imperial Bank of Commerce on Thursday also posted unexpectedly strong fourth-quarter results.

Get the full story here.


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