09:39:24 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Bank of Nova Scotia
Symbol BNS
Shares Issued 1,209,807,623
Close 2015-05-14 C$ 65.17
Market Cap C$ 78,843,162,791
Recent Sedar Documents

FP says TD, rivals unlikely to hike provisions soon

2015-05-15 09:42 ET - In the News

See In the News (C-TD) Toronto-Dominion Bank

The Financial Post reports in its Friday, May 15, edition that Canadian bank investors continue to wait for a shift in the domestic credit cycle. The Post's Jonathan Ratner writes in the Trading Desk column that the domestic credit cycle is in its sixth year of improvement, but there is little reason to believe there will be a spike in provisions for credit losses in the second quarter or any time in 2015, despite the weaker Canadian economic outlook. That is because higher consumer loan losses typically lag a meaningful rise in unemployment. Canaccord Genuity analyst Gabriel Dechaine says that has yet to surface. He says: "Credit quality has been nothing short of impressive for Canadian banks. Moreover, the trend has continuously defied expectations that have been guarded due to the ebullient Canadian housing market and mounting domestic household debt levels." Lower oil prices and the negative impact they have on the economic outlook are justifiably cause for concern, particularly given Western Canada's large contribution to employment growth and the Canadian economy since the middle of 2009. Mr. Dechaine, however, notes the fallout from lower oil prices on the banking sector has so far been limited.

© 2024 Canjex Publishing Ltd. All rights reserved.