The big banks' profits in Q2 were battered by the downturn
Profits plunged ahead of the pandemic
The fourth quarter was "solid" despite market turmoil, the CEO says
ATB Financial also reported lower net income for the 2019-20 fiscal year due to provisions for loan losses
The bank's Q2 profit dropped nearly 80% from a year ago, leading to a dividend cut
The bank recorded a $1.5-billion profit, down from $3.2 billion a year ago
CEO Victor Dodig says the bank can cope with near-term stress
The bank’s loan loss provisions grew by $2.4 billion in the quarter
The bank still reported a profit of $1.00 per share for the quarter
Despite the plunge, the bank beat analysts’ expectations