Close X
Tuesday, November 26, 2024
ADVT 
National

$34.88 Billion In Profits And Other Key Numbers For Canada's Big Banks

The Canadian Press, 03 Dec, 2015 12:26 PM
    TORONTO — Despite concerns that the sluggish economy, tapped out borrowers and low interest rates could dampen the profitability of Canadian banks, the country's six biggest lenders earned a combined $34.88 billion in profits over the past year. 
     
    That's an increase of nearly five per cent and greater than the GDP of Newfoundland and Labrador.
    Here are some other facts about the banks' annual results, released this week:
     
    — Royal Bank of Canada reported $10.03 billion in profits in 2015, up 11 per cent from last year. CEO Dave McKay said it's the first time a Canadian company has crossed the $10-billion mark.
     
    — Toronto-Dominion Bank saw its annual net income grow by just under two per cent to $8.02 billion.
     
    — Scotiabank recorded $7.21 billion of profits, down roughly one per cent from fiscal 2014.
     
     
    — Bank of Montreal boosted its annual net income by nearly two per cent to $4.41 billion.
     
    — CIBC saw $3.59 billion of profit, up more than 11 per cent from last year.
     
    — National Bank increased its annual profits by five per cent to $1.62 billion.

    MORE National ARTICLES

    Canada Needs Strategy To Combat Influence Of Money In U.S. Politics: Ambassador

    OTTAWA — Canada's ambassador to the U.S. says this country needs to find a way to combat the influence of big money in American politics, which is getting in the way of the interests of both countries.

    Canada Needs Strategy To Combat Influence Of Money In U.S. Politics: Ambassador

    Dark, Rainy Conditions Before Serious Langley Crash That Injured Driver: Police

    Dark, Rainy Conditions Before Serious Langley Crash That Injured Driver: Police
    RCMP say an eastbound Toyota Tacoma collided with a northbound Subaru Impreza just before 8 p.m. Tuesday.

    Dark, Rainy Conditions Before Serious Langley Crash That Injured Driver: Police

    Ontario Auditor Finds Hydro Consumers Pay Billions Extra For Liberal's Decisions

    TORONTO — Auditor general Bonnie Lysyk says electricity customers in Ontario have paid billions of dollars for the Liberal government's decisions to ignore its own planning process for new power generation projects.

    Ontario Auditor Finds Hydro Consumers Pay Billions Extra For Liberal's Decisions

    Frigid Dip Into B.C. Fishing Harbour No Escape For Alleged Bike Thief: RCMP

    Frigid Dip Into B.C. Fishing Harbour No Escape For Alleged Bike Thief: RCMP
    RCMP in Richmond, B.C., say officers responding to a report of a theft at an apartment building confronted the suspect who was observed with a bike.

    Frigid Dip Into B.C. Fishing Harbour No Escape For Alleged Bike Thief: RCMP

    Drugs May Have Caused The Deaths Of Two Men 48 Hours Apart In Quebec Home: Cops

    Drugs May Have Caused The Deaths Of Two Men 48 Hours Apart In Quebec Home: Cops
    SAGUENAY, Que. — Quebec police say drugs may have caused the deaths of two men who were found 48 hours apart in the same bed.

    Drugs May Have Caused The Deaths Of Two Men 48 Hours Apart In Quebec Home: Cops

    RCMP Plans New Investigative Team As Part Of Cybercrime Strategy

    RCMP Plans New Investigative Team As Part Of Cybercrime Strategy
    OTTAWA — The RCMP plans to set up a cybercrime team to investigate the most significant online threats to Canada's reputation and economy.

    RCMP Plans New Investigative Team As Part Of Cybercrime Strategy