Canadian Banks Report Mixed Q2 Earnings | TD, BNS, BMO & NA
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In this episode, we explore the latest earnings reports from Canada's biggest banks, which show a mix of profit declines and resilience in the face of economic pressures. Higher costs and increased provisions for potential loan losses are common themes. We break down the numbers from TD Bank, Scotiabank, Bank of Montreal, and National Bank of Canada.
Also in this episode:
🪙 Rising debt concerns as more Canadians make only minimum credit card payments, influenced by the cost-of-living crisis and high-interest rates.
💼 ConocoPhillips to acquire Marathon Oil in a $22.5 billion deal, adding significant reserves and cost savings.
👔 Gildan Activewear CEO Glenn Chamandy re-elected to the board, aiming for leadership stabilization after a period of internal conflict.
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