Canada’s five big banks have reported robust first-quarter earnings driven by growth in mortgage lending and other domestic business. The five – Royal Bank of Canada, Toronto-Dominion, Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce –reported combined quarterly net income of C$5bn ($4.9bn), up more than two-thirds from 2009. None had a return on equity below 14%. Bank of Nova Scotia, the last of the five to report, on Tuesday said net income grew by 17% yoy to C$988m in the three months to Jan 31.

This entry was posted by Gwen Robinson on Wednesday, March 10th, 2010 at 5:06 and is featured in The 6am Cut London (10 Mar 2010), The Lunch Wrap (10 Mar 2010) . Tagged with Bank of Montreal, Bank of Nova Scotia, CIBC, RBC, Toronto-Dominion Bank. Edit this entry.