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Banks’ Non-Performing Ratios Push Higher In Start Of Earnings Window

CANADA
  • Initial bank earnings results have been mixed with Scotia and BMO up today.
  • Scotia beat on adjusted EPS basis (C$1.69 vs 1.61) whilst BMO saw a sizeable miss (C$2.56 vs 3.02).
  • Credit loss provisions were higher than expected, more notably for BMO although it remains lower than Scotia outright, whilst non-performing ratios increased for both vs Q4 – see table.
  • National and RBC follow tomorrow with CIBC and TD on Thu.
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  • Initial bank earnings results have been mixed with Scotia and BMO up today.
  • Scotia beat on adjusted EPS basis (C$1.69 vs 1.61) whilst BMO saw a sizeable miss (C$2.56 vs 3.02).
  • Credit loss provisions were higher than expected, more notably for BMO although it remains lower than Scotia outright, whilst non-performing ratios increased for both vs Q4 – see table.
  • National and RBC follow tomorrow with CIBC and TD on Thu.