Banks quarterly profits, March 2013

April 9, 2013 by
Filed under: Bank's Profits 

Royal Bank of Canada

The largest of the Big Six with a market capitalization of CAD88.37 billion

(A marketing capitalization, according to Wikipedia, is the total value of the issued shares of a publicly traded company; it is equal to the share price times the number of shares outstanding)”

  • Net income of CAD2.07 billion
  • Domestic personal and commercial banking net income a company record CAD1.12 billion
  • Wealth management net income also hit a record CAD233 million
  • Insurance net income CAD164 million
  • Capital markets net income CAD464 million

Toronto-Dominion Bank

The second-largest of Canada’s Big Six with a market cap of CAD77.99 billion

  • Domestic personal and commercial banking unit of CAD944 million
  • US personal and commercial banking operations adjusted earnings of USD387 million
  • Wholesale banking unit’s net income CAD159 million

Bank of Nova Scotia

The third-largest bank market cap is CAD71.06 billion

  • Domestic net income to CAD1.625 billion
  • International banking net income CAD466 million
  • Investment banking CAD399 million
  • Wealth management and insurance CAD310 million

Bank of Montreal

The fourth-largest with a market capitalization of CAD41.6 billion

  • Canadian personal and commercial banking net income CAD458 million
  • US personal and commercial CAD183 million
  • Private client adjusted net income CAD169 million
  • BMO Capital Markets’ net income CAD310 million

Canadian Imperial Bank of Commerce

The fifth-largest bank with a market cap of CAD33.06 billion

  • Adjusted net income of CAD895 million
  • Domestic retail and business banking posted net income of CAD611 million
  • PCLs (“provisions for credit losses”) CAD241 million
  • Wholesale banking CAD200 million

National Bank of Canada

The smallest of the Big Six in terms of market capitalization is also the most concentrated in Canada.

  • Net income for the first quarter was a bank record CAD361 million
  • Personal and commercial banking  CAD178 million
  • Wealth management CAD51 million
  • Financial markets net income CAD115 million

These numbers were stripped from

I honestly can’t tell you what they mean. “Dammit Jim, I’m not a banker.” All I know is that the wealth of Canadians in general is declining. We’re getting laid off in droves. Our jobs are being contracted abroad. And our debt is steadily increasing. And the banks continue to see record profits.

Can you say “Correlation?”

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