10:46:37 EDT Tue 23 Apr 2024
Enter Symbol
or Name
USA
CA



Bank of Nova Scotia
Symbol BNS
Shares Issued 1,209,986,677
Close 2015-07-28 C$ 61.42
Market Cap C$ 74,317,381,701
Recent Sedar Documents

FP says Big Six banks benefit from strong cap markets

2015-07-29 07:05 ET - In the News

See In the News (C-CM) Canadian Imperial Bank of Commerce

The Financial Post reports in its Wednesday edition that solid second quarter results by most United States financials bode well for Canadian banks in the third quarter. The Post's Jonathan Ratner writes that U.S. bank results were marked by positive net interest income, steady asset growth and stable margins. However, Barclays analyst John Aiken notes trading revenues showed signs of pressure. Canada's Big Six banks benefited from strong capital markets activity in the first half of 2015. Any pullback in related revenues could cause some weakness for the sector. Canadian banks generated sequential trading revenue growth above 40 per cent in the past two quarters. With trading revenues falling an average of 21 per cent at U.S. banks, Mr. Aiken foresees similar weakness in Canada. He notes National Bank of Canada, Bank of Montreal and Royal Bank of Canada generated the largest percentage of total revenues from capital markets in the past year, so they could feel the biggest hit from any slowdown in that area. Most of the trading weakness for U.S. banks was blamed on fixed income, currency and commodity trading. Mr. Aiken notes RBC and National could gain more relative exposure to these businesses.

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