Economic headwinds weigh on bank results as more money set aside for bad loans

TORONTO — The effects of heightened inflation and central bank efforts to rein it in by slowing the economy are showing in the second-quarter results from Canada’s big banks. Four out of the Big Five banks have reported earnings that missed expectations as they set aside more money for bad loans and struggle to contain rising costs, and several see their revenue take a hit from slower loan growth. CIBC was the lone outlier as its results Thursday came in better than analysts had expected. While
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Canadian Banks Could Raise Payouts 18% While Buying Back Stock

(Bloomberg) — Canada’s six biggest banks could raise their dividends by about 18% on average and still be able to buy back almost 2% of their shares now that regulators are allowing them to unleash capital they’d stockpiled during the pandemic. Most Read from BloombergResults on Key Ballot Initiatives, From Policing to the EnvironmentChina’s Climate Goals Hinge on a $440 Billion Nuclear Buildout‘Airbnb Queen’ Says She’s Caught Up in Platform’s New York FeudSupply Chain Crisis Risks Taking the G
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