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