Financial Sector Update for 06/04/2015: RY.TO, CM.TO, BNS.TO, NA.TO, BMO.TO, TD.TO
Amid concerns of how Canada's "Big 6" banks would fare in case of a high interest rate environment, BMO Research on Thursday released a report reviewing the lenders' Q2 2015 results.
The broker said of note are the banks' near-record trading quarter, with revenues hitting the highest level since 2010 with the help of interest rates and credit. Resilient volume growth (both deposits and loans) and expense management also supported the domestic banking operations of the group in delivering 5% year-over-year earnings growth. Finally, credit costs continue to be at cyclical lows, helped by the prolonged low rate environment.
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