08:22:34 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Bank of Nova Scotia
Symbol BNS
Shares Issued 1,201,864,902
Close 2017-05-19 C$ 75.48
Market Cap C$ 90,716,762,803
Recent Sedar Documents

Globe says analysts upbeat on outlook for CIBC, rivals

2017-05-23 08:39 ET - In the News

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

The Globe and Mail reports in its Tuesday, May 23, edition that analysts are relatively upbeat about the second quarter for Canada's big six banks. The Globe's David Berman writes that for one thing, analysts expect that Bank of Montreal and National Bank of Canada will hike their dividends. For another, profits should rise solidly over last year's results. Darko Mihelic, an analyst at RBC Dominion Securities, expects profit will rise by an average of 6 per cent over the same period last year. Robert Sedran, an analyst at CIBC World Markets, expects profit will rise by an average of 8 per cent. Gabriel Dechaine, an analyst at National Bank Financial, expects profit growth of 14 per cent. The results should reflect a trio of improvements. Mr. Berman says banks stand to benefit from recent cost-cutting measures, margins on U.S. loans should expand with the two recent interest-rate hikes by the U.S. Federal Reserve and credit conditions have been improving with the rebound in the price of crude oil since early last year. These improvements should offset slower capital markets activity since last quarter, with debt and equity issuance volumes down, according to a report from RBC.

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