Some of Canada’s biggest mortgage lenders continue to beat the expectations of analysts as they report their 2nd
quarter results this week. Results from RBC released Thursday saw strong net income for its domestic banking (7 per cent) and capital markets (23 per cent) divisions. Total revenue was up to $2.5 billion from $2.2 billion a year earlier.
Meanwhile CIBC reported that its wholesale banking division’s net income was up 17 per cent with retail and business banking up 6.8 per cent. Total adjusted revenue for the quarter was $3.52 billion.
TD also reported Thursday with overall revenue up to $7.76 billion from $7.44 billion a year ago. Adjusted earnings were up 5 per cent to $2.2 billion. The latest figures follow on from BMO’s expectation-beating results earlier in the week; Bank of Nova Scotia reports its results Friday.
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