ATB Financial was also hit by higher loan loss provisions
The company also cut its dividend to gain more flexibility for the business
Chief executive says the bank entered the crisis from a position of strength
The bank earned $392 million, down from $1.35 billion a year ago
Loan loss provisions increased by $2.4 billion
The bank’s loan loss provisions totalled $1.11 billion for the quarter
The bank set aside $504 million in loan loss provisions
Demand for deferrals in Canada peaked in the first week of April
Bank earnings and GDP numbers headline a busy week
Landlords, railways and insurers have all been affected