Decision to sell is consistent with the bank's strategy of geographic de-risking
Canadian Financial Sector Resiliency Group will launch in August
The bank will record a loss of approximately $400 million after tax
The firm is also lowering fees for a number of funds
Firm expects banks will build up their capital reserves — which already exceed the new minimums — even further
Profits rise along with credit loss provisions
The earnings miss was driven by higher provisions for credit losses
The new unit comes with an executive shuffle
The app is available to several banks' customers
Brian Porter said the bank stress tests its $205 billion-mortgage portfolio on a regular basis