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Bank of Nova Scotia
Symbol BNS
Shares Issued 1,225,651,360
Close 2019-03-08 C$ 72.25
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Globe says call it the Big Five banks' favourite decade

2019-03-11 09:42 ET - In the News

See In the News (C-RY) Royal Bank of Canada

The Globe and Mail reports in its Saturday edition that on Day 1 of the recovery from the worst bear market since the Great Depression, the big Canadian banks led the charge on the Toronto Stock Exchange. The Globe's Tim Shufelt writes that Royal Bank of Canada's shares rose 14 per cent on March 10, 2009, as investors stormed back into the much-maligned financials sector. RBC's fellow Big Five incumbents all posted double-digit gains of their own. That day would prove to be the inflection point that separated the global financial crisis and devastating recession from one of the best bull markets in history. In the 10 years since the market bottomed out, the Big Five together have contributed nearly half of the total returns generated by the S&P/TSX Composite Index. "The banking sector hasn't really had a bump in the road in 10 years," said Tom Bradley at Steadyhand Investments. "They've just had these howling tailwinds." However, it is hard to imagine those tailwinds being quite as intense in the years ahead. The burdens from indebted households, a moderating economy and a slowing real estate boom mean the next decade in banking, and bank investing, is unlikely to have the same sheen as the decade past.

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