National: RBC surpasses profit expectations but anticipates further job reductions, while TD falls short of projected earnings

Canada’s largest bank, Royal Bank of Canada (RBC), surpassed analysts’ expectations for third-quarter profit, demonstrating strong performance through cost-cutting measures and higher interest rates. However, the bank warned of potential layoffs in the future as it continues to address elevated expenses. RBC’s CEO, Dave McKay, had previously announced plans to slow down hiring after overshooting …

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National Bank acquires SVB’s Canadian commercial loan portfolio

By Staff The Canadian Press Posted August 1, 2023 11:08 am Decrease article font size Increase article font size National Bank of Canada is set to acquire the Canadian branch of Silicon Valley Bank’s commercial loan portfolio. The Montreal-based bank will gain a $1 billion loan commitments portfolio, with $325 million outstanding. The portfolio mainly …

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Could Laurentian Bank be up for sale amidst surging shares?

By Staff The Canadian Press Posted July 12, 2023 10:58 am Updated July 12, 2023 12:18 pm Descrease article font size Increase article font size Shares of Laurentian Bank of Canada surged over 30% during early trading on Wednesday following the announcement that the bank was conducting a strategic review to maximize shareholder value. A …

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