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Banks See Higher NPLs In Q1

CANADA
  • More Canadian banks have reported higher non-performing loan ratios for Q1 vs Q4, with RBC and National earlier adding to BMO and Scotia yesterday – see table.
  • Both RBC and National beat expectations for adjusted EPS in Q1 (C$2.85 vs 2.80 and C$2.59 vs 2.35 respectively).
  • CIBC and TD round out the Big Six tomorrow.
  • Looking more broadly, personal insolvencies lifted back to pre-pandemic levels last year but haven’t pushed further on. There is however a much larger share of the use of more flexible proposals rather than outright bankruptcies.

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