The company reported that elevated expenses weighed down its bottom line, including $213.6 million pre-tax from its liquidity crisis earlier this year
The company is making efforts to restore market confidence following allegations that it misled investors
But the company is encouraged by the inflows of deposits since Berkshire Hathaway announced it was investing $400 million in Home Capital
Most of the banks performed well, including raising their dividends, although Home Capital cast a shadow over the group
After-tax profit for NYSE members rose to almost US$4 billion
Dividend to rise
Combined, Canada’s five biggest banks had $9.67 billion of profits during the quarter
Bank CEOs monitoring housing market but say Home Capital issues not widespread
Dividend going up to 90¢ per share
Bank of Montreal will kick off the Q2 earnings parade on Wednesday