The Globe and Mail reports in its Wednesday edition Bank of Nova Scotia is poised to reap Bay Street's biggest investment-banking revenue gains this year as Canadian
lenders collect record fees from a surge in energy deals. A Bloomberg dispatch to The Globe says Scotiabank had the biggest
jump in revenue from advising on takeovers and arranging financings among the six biggest Canadian banks. Investment-banking fees at Scotia rose at
least 40 per cent to more than $700-million, on deals with companies including Fortis, Manulife, Verasen and Baytex. Scotiabank was the top underwriter for Canadian stock sales for
the first time in at least 14 years and ranked No. 2 among domestic firms for advising on Canadian takeovers, according to data compiled
by Bloomberg based on the year ended Oct. 31. Royal Bank of Canada, with the largest capital-markets operation
among the lenders, kept its No. 1 ranking for advising on takeovers and handling corporate bond sales, while TD took top spot for managing
debt sales of governments. Bank of Montreal kicks off earnings
season Dec. 2, with the five other large lenders reporting that
week. Scotiabank has said it
will record a $341-million charge
in the quarter.
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