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Banks At Or Beating EPS Estimates In Q2

CANADA
  • Solid collection of adjusted EPS results, at or exceeding expectations. All headlines below from Bloomberg:

*CIBC 2Q ADJ EPS C$1.77, EST. C$1.78

*ROYAL BANK OF CANADA 2Q ADJ EPS C$2.99, EST. C$2.69

*TD BANK 2Q ADJ EPS C$2.02, EST. C$1.93

Yesterday:

*BANK OF MONTREAL 2Q ADJ EPS C$3.23, EST. C$3.22

*BANK OF NOVA SCOTIA 2Q ADJ EPS C$2.18, EST. C$1.97

  • CIBC notes its positioned to continue benefiting from rising rates, with net interest income sensitivity to a +100bp shock of C$428M for yr 1 and C$842M for yr 2 as of Apr 30.

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