Canada’s ‘Big Five’ see loan-loss provisions halve in Q4
Canadian lenders had reason for cheer at the end of a financial year marred by the Covid-19 pandemic, as the amount of income they had to set aside to cover loan losses fell 52% in the three months to end-October.
Provisions for credit losses (PCL) across the country’s ‘Big Five’ banks – BMO, RBC, Scotiabank, TD and CIBC – totalled C$3.2 billion ($2.5 billion) for the quarter, compared with C$6.6 billion during Q3 and C$10.1 billion in Q2.
While the figure marks a 13% increase on the Q4 2019
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
More on Risk Quantum
Regulation
Behnam defends under-fire crypto bill following FTX debacle
DCPPA “is very effective at addressing nearly all of these issues” that led to FTX’s failure, Behnam said
Receive this by email