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RBC Posts 18% Profit Loss

RBC Posts 18% Profit Loss
Royal Bank of Canada (RBC) did not meet analyst expectations as it reported an 18% drop in the third quarter net income, due to a major drop in profits from its capital markets division. Canada’s largest bank has earned $1.28 billion in the quarter that recently ended, however it is down from the record $1.56 billion earned ... Full story
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CIBC Reports Increase in Profits

CIBC Reports Increase in Profits
Canadian Imperial Bank of Commerce (CIBC) has released their third quarter results, and it shows an increase in profits from the same period a year ago. This increase in profits is all thanks to strong gains seen in its personal and business banking divisions and shrinking provisions for bad loans. CIBC has ... Full story
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CIBC Names Best Consumer Internet Bank in Canada

CIBC Names Best Consumer Internet Bank in Canada
Canadian Imperial Bank of Commerce (CIBC) has been named the Best Consumer Internet Bank in Canada for the third year in a row by Global Finance Magazine in its 11th annual “World’s Best Internet Banks” competition. CIBC was chosen based on the overall strength of its online banking offerings include factors such ... Full story
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Banks Decrease Mortgage Rates

Banks Decrease Mortgage Rates
This week we saw big banks make adjustments to their mortgage rates. The banks which I will be focusing on is the Bank of Montreal (BMO), Canadian Imperial Bank of Commerce (CIBC), Toronto Dominion Bank (TD) and National Bank of Canada (NBC). The rate adjustments made were decreasing certain mortgages; these decreases ranged from 0.10% - 0.30%. ... Full story
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Banks and Businesses Open Despite Saturday’s Events

Banks and Businesses Open Despite Saturday's Events
After the events of the G20 summit, Canada’s big banks are almost ready for normal business in Toronto’s downtown core. Bank of Montreal (BMO), Canadian Imperial Bank of Commerce (CIBC), Royal Bank of Canada (RBC), and Scotiabank have all reported that all of their bank branches will be open today. A TD Canada Trust branch located ... Full story
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iPhone Mobile Banking

iPhone Mobile Banking
As the years go on we find ourselves using far more advanced technology and more innovative ideas. When it comes to banking, we were introduced to online banking which took the world by storm. Over the past year we have begun to see drastic improvements in mobile banking for smartphones, particularly the iPhone. Last year, we ... Full story
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CIBC Set to Acquire Canadian MasterCard Portfolio from Citigroup

CIBC Set to Acquire Canadian MasterCard Portfolio from Citigroup
Canadian Imperial Bank of Commerce (CIBC) has announced that it is broadening its place in the Canadian marketplace through the acquisition of a $2.1 billion credit card portfolio from Citigroup’s Canadian MasterCard business. With this acquisition, CIBC, which had more than $14 billion in outstanding credit card balances at ... Full story
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CIBC 2010 FIFA World Cup Contests and Promotions

CIBC 2010 FIFA World Cup Contests and Promotions
Canadian Imperial Bank of Commerce (CIBC) has decided to further promote is broadcast sponsorship of the 2010 FIFA World Cup; in order to do this, CIBC is going to introduce new soccer themed contests and promotions to get all Canadian soccer fans fired up around the world’s game. There are a ... Full story
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Canadian Banks Increase Prime Lending Rate

Canadian Banks Increase Prime Lending Rate
Just yesterday, we saw the Bank of Canada increase its overnight rate by 0.25%, making the rate settle at 0.50%. We all expected to see the Bank of Canada do this, seeing as they stated last month that they can increase the rate at anytime starting June 1st, 2010. With this turn of events, Canadian banks ... Full story
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Canada’s Big Banks Report Boost in Profits

Canada's Big Banks Report Boost in Profits
Today, we have three of Canada’s big banks, Canadian Imperial Bank of Commerce (CIBC), Royal Bank of Canada (RBC), and TD Bank Financial Group report large gains in their second quarter profits. Despite these large gains, the earnings ... Full story
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