Home Breadcrumb caret Industry News Breadcrumb caret Industry Oil prices could hurt big banks Canadian banks’ earnings could take a hit if oil prices stay low for an extended period, reports the Financial Post. By Staff | December 15, 2014 | Last updated on December 15, 2014 1 min read Canadian banks’ earnings could take a hit if oil prices stay low for an extended period, reports the Financial Post. Read: CIBC’s Shenfeld pens Dolly Parton-inspired poem Citing analysts at CIBC World Markets, the report says losses could be in the 6% to 7% range. “They based their analysis on the oil and gas credit exposure of Canada’s six largest banks, and the impact on loans and recoveries historically when energy prices fell. “The analysis also took into account the expected decline in underwriting revenues that would affect the capital markets divisions of the financial institutions. The energy sector is pegged at accounting for roughly 10% of capital markets revenue,” explains the report. Read more here. Also read: The financial phrase of the year is… Toronto-based financial firms boast global footprint Staff The staff of Advisor.ca have been covering news for financial advisors since 1998. Save Stroke 1 Print Group 8 Share LI logo