February 27, 2024 12:32 GMT
Banks’ Non-Performing Ratios Push Higher In Start Of Earnings Window
CANADA
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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.
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