Most of the banks have beaten profit expectations over the past several quarters, as assets under management, and deals and trading revenues soared, and PCLs remained low, offsetting pressure on margins from record-low interest rates. The banks, which will begin reporting quarterly results next Tuesday, will benefit from increased margins from higher interest rates while loan growth remains strong despite some slowing in mortgage lending, helping offset declines elsewhere.Ĭanada's Big Six banks - Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova Scotia, Bank of Montreal (BMO), Canadian Imperial Bank of Commerce and National Bank of Canada (OTC: NTIOF) - are expected to report an average drop of 3.7% in adjusted earnings per share (EPS) from both the previous quarter and a year earlier. TORONTO (Reuters) - Canadian banks are expected to post declines in profits on average in the third quarter as a murky economic outlook drives up provisions for credit losses (PCL) while market turmoil pressures capital markets and wealth management results, analysts and investors said. (This August 18 story corrects to say banks begin reporting results on Tuesday) REUTERS/Mark Blinch (CANADA - Tags: BUSINESS)/File Photo FILE PHOTO: A Royal Bank of Canada (RBC) logo is seen on Bay Street in the heart of the financial district in Toronto, January 22, 2015.
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