Revenue grows; CFO Michael Bell to depart
Total revenue hits $8 billion
Restructuring and acquisition-related expenses total $10.7 million
Weaker results reflect slowdown in listing and equity trading markets
Credit risk is moderate, but growth would slow
Provision related to litigation against the bank for its role in a $1.2-billion Ponzi scheme in Florida
Higher overhead expenses erode margins
Despite historically low valuations other markets are still cheaper, which places the TSX at premium
Banks challenged by low rates, slow North American growth and uncertainty in Europe
Margin pressures are expected to continue in the low interest rate environment