Revenue rose to $15.7 billion as profit and loan loss provisions increased. Royal Bank of Canada’s cautious outlook on the future led to a notable build in its provisions for potential loan losses in the quarter, though profits also rose...
Dubai has maintained its first place as the world’s leading destination for greenfield foreign direct investment (FDI) in the cultural and creative industries (CCI), topping the Financial Times’ fDi Markets ranking for the third consecutive year. The 2024 report, which...
The bank’s provision for credit losses amounted to $1.05 billion. BMO Financial Group’s second-quarter profit rose from a year ago even as its Canadian banking and capital markets divisions saw income drop due to tariff-related uncertainty. The bank on Wednesday reported...
Trading revenues hit record levels as markets grapple with spike in uncertainty. The surge in first-quarter market volatility boosted the trading revenues of large European banks to record highs, Morningstar DBRS reports — and the trend is expected to continue...
Cross-border direct lending deals are on the rise, with 90% of private credit professionals across Europe reporting an increase, according to research from Nordic Trustee, part of global capital markets services provider Ocorian. The study, which surveyed private credit and...
Exporters rushed to sidestep U.S. tariffs, pushing GDP higher despite housing slowdown and weak household spending. A rush to get ahead of Canada’s looming tariff dispute with the United States powered economic growth in the first quarter, Statistics Canada said...
Adjusted earnings beat expectations despite higher credit loss provisions. National Bank of Canada reported a second-quarter profit of $896 million, down slightly from $906 million a year earlier. The Montreal-based bank says the profit amounted to $2.17 per diluted share for...
Imports surge ahead of Trump tariffs, dragging GDP into first decline in three years. The U.S. economy shrank at a 0.2% annual pace from January through March, the first drop in three years, as President Donald Trump’s trade wars disrupted...
China's steel exports surged to 118M tons in 2024, resulting in protective measures and growing trade tensions by other governments. The Organization for Economic Cooperation and Development (OECD) that the difficulties in the global steel industry are likely to continue...
Canadian commercial banking and wealth management segment posted a net income of $549M. CIBC reported a second-quarter profit of $2 billion, up from $1.8 billion in the same quarter last year. Revenue totalled $7 billion, up from $6.2 billion. The higher...
