Recap: Canada’s banks gained momentum in Q3

Over the last week, Canada’s banks reported Q3 earnings for the quarter ended July 31.

Overall, the banks beat analyst projections and surprised to upside. For three of the Big Six, there were also dividend hikes — BMO, National Bank and TD chose to keep their dividends unchanged for the fourth quarter.

The wealth management divisions of the majority of the banks had a strong third quarter, with only CIBC reporting a fall in net income due, it says, to higher expenses.

For a recap of earnings, read:

RBC’s wealth management profit up 25% over past year

CIBC wealth management profit falls 73% on higher expenses

BMO Wealth Management reports 32% profit growth over last year

Scotiabank reports wealth management revenue growth, boosts dividend

National Bank’s wealth management boosts profit by 31% in Q3

TD Bank Q3 profit rises 17% to $2.77 billion

Canadian Western Bank reports solid Q3 earnings

Laurentian sees ‘strong results’ in Q3, says CEO

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.