Economic headwinds weigh on bank results as more money set aside for bad loans
Rising costs and slower loan growth are also challenges
- By: Ian Bickis, The Canadian Press
- May 25, 2023 May 25, 2023
- 12:18
Rising costs and slower loan growth are also challenges
'Challenging market conditions' and 'shifting environment' said to be putting pressure on revenue growth
The holder needs a written agreement to buy or build home to make a tax-free withdrawal
Bank failures may cause lending reduction but inflation remains well above 2% target
Ban should apply in provinces that have yet to announce it, regulators say
Sales at gasoline stations and fuel vendors dropped 3.9%
Even homeowners can open an FHSA in some cases
259 people wrote the exam
The deadline is June 15
Businesses are expected to save $1 billion over five years
Stubbornness of high inflation divides Federal Reserve on managing interest rates
Organization reunites people with unclaimed money in old bank accounts
Former CEO Greg Becker told a senate hearing that SVB was the victim of a social media-driven bank run
Rent and mortgage costs led to the first increase in the annual rate since it peaked at 8.1% in June 2022
Insurance regulators promised new guidance on upfront compensation structures
Crypto exchange confident it will “someday return” to Canada
Rhys Mendes will become Bank of Canada deputy governor in July while Biden has made two Federal Reserve nominations
Participating life helps drive Canadian insurance sales, but wealth sales drop 23%
Canada’s April inflation figure anticipated to be well below the 5.2% wage growth
No recession but output dropped in several sectors affected by strikes
The CRA will deliver the one-time GST credit boost to Canadians in July
The increase came as Canadians faced higher interest rates
Within wealth management, retail net inflows dropped 80%
Proceeds of $1.34-billion deal will pay down debt
The hike — the 12th in a row — puts more pressure on borrowers