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Bank of Nova Scotia
Symbol BNS
Shares Issued 1,225,984,487
Close 2019-04-15 C$ 72.04
Recent Sedar Documents

Globe says RBC, rivals may see lower trading volumes

2019-04-16 08:39 ET - In the News

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

The Globe and Mail reports in its Tuesday, April 16, edition that lower market volatility took a bite out of the equity trading revenues at some of the big United States investment banks and analysts say a similar theme could play out in Canada. The Globe's Alexandra Posadzki writes that Citigroup and Goldman Sachs Group both reported a 24-per-cent drop in their equity trading revenues on Monday, compared with a strong first quarter in 2018. Capital markets earnings have become an increasingly important earnings lever for Canadian banks as softer housing markets have caused mortgage loan growth to slow. Goldman Sachs is closely watched as a bellwether of investment banking results given its heavy concentration in the sector. Canada's big-bank-owned investment dealers could also see lower equity trading revenues when they report their second quarter results next month, although analysts say the decline is likely to be less pronounced than that experienced by U.S. peers. Royal Bank of Canada could be the most affected, given its substantial U.S. exposure and the fact that trading makes up a larger proportion of its revenues compared with the other Canadian banks, said Canaccord Genuity analyst Scott Chan.

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