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Canada’s Biggest Banks Earn $5.09B in First Quarter

Canada's Biggest Banks Earn $5.09B in First Quarter
Canada’s five biggest banks saw their profits rise by almost two-thirds in the first quarter of 2010, compared to the same period last year when the recession had taken root and any earnings were taken away. The banks have earned a combined total of $5.09 billion in the three months that ended on January 31st; compared to ... Full story
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WestJet Reward Pograms Launches with New RBC MasterCard and Frequent Guest Program

WestJet Reward Pograms Launches with New RBC MasterCard and Frequent Guest Program
On March 8th, 2 010, WestJet announced it will be launching two new programs to reward travelers who fly with Canada’s preferred airline. The WestJet Credit Card Program offered in a partnership with Royal Bank of Canada (RBC) and MasterCard, and the WestJet Frequent Guest Program will offer guests the opportunity to earn and accumulate WestJet dollars. With ... Full story
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Bank of Canada Creating Plastic Currency

Bank of Canada Creating Plastic Currency
It is now time for a change, and we have the Bank of Canada wanting to start making plastic notes because plastic bills last longer and are much cleaner than paper notes. The Bank of Canada has not listed who the supplier will be. A spokeswoman for the Bank of Canada, Julie Girard noted that the Bank of ... Full story

Credit Card Industry on Notice

Credit Card Industry on Notice
Ottawa is proposing legislation that would give the federal finance minister the authority to regulate the credit and debit card industry. Finance Minister Jim Flaherty has said that he will only use his new authority if the industry fails to comply with a proposed voluntary code of conduct. We have the government propose in budget documents giving the ... Full story
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TD Beats Analyst Estimates

TD Beats Analyst Estimates
Toronto-Dominion Bank (TD) reported their first quarter results, which beat analyst estimates in terms of both profits and revenue. TD Bank’s net income rose to $1.3 billion in its first quarter, essentially doubling what it earned a year earlier, where TD Bank earned $653 million. TD Bank’s diluted earnings were $1.44 per share before adjustments and $1.60 after ... Full story
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RBC’s Profit Increases 35%

RBC’s Profit Increases 35%
Canada’s largest bank, Royal Bank of Canada (RBC) gained $1.5 billion profit in its first quarter, a 35% gain from the same period a year ago, however it still missed analysts expectations. RBC announces its net earnings to $1 per share, up from 78 cents per share or $1.1 billion ... Full story
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Scotiabank acquires RBSC’s Wholesale Banking Operation in Colombia

Scotiabank acquires RBSC’s Wholesale Banking Operation in Colombia
Scotiabank announced on March 1st, 2010 that it has completed an agreement to acquire Royal Bank of Scotland’s wholesale banking operations in Colombia (RSBC). The agreement is still subject to regulatory approvals, however this deal represents Scotiabank’s first acquisition in this country and it would make it the only Canadian owned wholesale institution with a presence in ... Full story
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RBC Canadian Consumer Outlook Index Rises

RBC Canadian Consumer Outlook Index Rises
The RBC Canadian Consumer Outlook Index for February rose 3 points to 109 from 106 in January, as consumers begin to feel more positive about their outlook for the Canadian economy. This marks the highest level the index has reached since it was established in November 2009. Canadians still remain divided when considering the overall state of ... Full story
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Weekly News Watch 24

Weekly News Watch 24
It has been some time since I actually wrote a weekly news watch, so here it goes. This past week we saw different news released which had a few interesting pieces, but most importantly, we had the first of the Big Six report their first quarter earnings this week. The interesting article I am speaking of ... Full story
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Canada’s Account Deficit Lowers

Canada's Account Deficit Lowers
Canada’s current account deficit has narrowed to $9.8 billion in the fourth quarter, reflecting an energy led increase in exports. Statistics Canada has reported that the current account has been in deficit for the past 5 quarters after almost 10 years of surpluses. We have seen financial transactions across the border continue to generate large inflows ... Full story
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