bank earnings

CIBC reports rising mortgage delinquencies, but doesn’t expect “material” losses

March 3, 2024 No Comments

CIBC reported a rise in mortgage delinquencies in the first quarter, though they still remain below pre-pandemic levels and aren’t expected to translate into “material” losses, the bank said.

National Bank of Canada quarterly earnings

National Bank sees delinquencies for its variable-rate mortgages rise to pre-pandemic levels

February 29, 2024 No Comments

National Bank reported a rise in mortgage delinquencies, though primarily in its insured variable-rate mortgage portfolio.

RBC says it’s “very comfortable” with due diligence done on HSBC Canada’s mortgage portfolio

February 28, 2024 No Comments

RBC’s executive team today expressed confidence in its due diligence of HSBC Canada’s mortgage portfolio during the $13.5-billion acquisition.

BMO sees rise in loan losses, but says mortgage clients remain “resilient”

February 28, 2024 No Comments

BMO reported rising loan losses in the first quarter and anticipates a further increase before conditions improve in the second half of the year with expected Bank of Canada rate cuts.

Scotiabank reports on its variable-rate mortgage portfolio

70% of Scotiabank’s mortgage originations in Q1 were multi-product deals

February 27, 2024 No Comments

Scotiabank is reporting success in its efforts to grow its deposits and increase profitability by doing more cross-selling to new mortgage clients.

13,000 CIBC mortgage clients have come out of negative amortization

December 18, 2023 4 Comments

Over the past three months, roughly 13,000 CIBC clients have taken action to bring their mortgages out of negative amortization.

Some mortgage clients could see up to 40% payment increases at renewal, BMO says

December 4, 2023 No Comments

Like most other financial institutions, BMO said the bulk of its mortgage portfolio will be up for renewal in the coming three years, with the payment increases averaging up to 40%.

CIBC sees “no areas of concern” as 100,000 mortgage clients renewed at higher rates so far this year

September 12, 2023 5 Comments

CIBC reports that its mortgage clients are so far managing to absorb the payment shocks as their mortgages come up for renewal at higher rates.

Scotiabank continues to slow its mortgage business in favour of multi-product clients

August 30, 2023 1 Comment

Scotiabank continued to deliberately slow its mortgage lending in the third quarter amid heightened economic risk and as part of its plan to be more selective with onboarding new clients.

Magnitude of credit losses will depend on BoC’s ability to orchestrate a soft landing: RBC

August 28, 2023 No Comments

While RBC posted stronger-than-expected earnings results, the bank said it expects credit losses to intensify in the coming months as interest rates remain elevated.