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Scotiabank Profits Rise 14%

Scotiabank Profits Rise 14%
Scotiabank has released their third quarter reports, and it shows that their third quarter profits has risen 14% to nearly $1.1 billion, even as capital markets division was hit by the same earnings decline experiences at other Canadian banks. Scotiabank is well known as being Canada’s most international bank, and their net income was the equivalent to ... Full story
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Banks Lower Mortgages

Banks Lower Mortgages
Five of Canada’s major banks have reduced their mortgage rates by one tenth of a percentage point. The popular five year closed mortgage rate will not sit at 5.49% annually at the Royal Bank of Canada (RBC), Bank of Montreal (BMO), Scotiabank, Canadian Imperial Bank of Commerce (CIBC) and National Bank of Canada (NBC). RBC took the ... Full story
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Fraud Victums Get Go-Ahead for Class Action against RBC

Fraud Victums Get Go-Ahead for Class Action against RBC
In recent news, a Quebec judge has given the go ahead to victims of the Ponzi schemer, Earl Jones to proceed with a class action lawsuit against the Royal Bank of Canada (RBC). Former clients of the financial adviser allege in the $40 million suit in which the Montreal area branch of ... Full story
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RBC Capital Markets Survey Findings

RBC Capital Markets Survey Findings
According to survey data published today by RBC Capital Markets, the corporate and investment arm of Royal Bank of Canada (RBC), mutual fund, hedge fund and private equity managers fear the impacts of inflation, but they are optimistic about the prospects for U.S. and Asian equity markets over the next 12 months. 102 asset management respondents, who ... Full story
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Recovery Dying Down

Recovery Dying Down
Recovery is losing its fast pace and the possibility that the G20 prescription for fiscal tightening to build market confidence. Just a week after the vast majority of leaders from the world’s largest economies decided to place a fiscal restraint for the global economy, new data from around the globe are pointing to a darkening ... 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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Bank Decrease Residential Mortgage Rates

Bank Decrease Residential Mortgage Rates
Today we have major banks making adjustments to their residential mortgage rates, which will take effect June 25th, 2010. The adjustments made today is decreasing mortgage rates by 0.10%, which is somewhat of a surprise seeing as the Bank of Canada recently increased the overnight rate by 0.25% to 0.50%. The banks, which have made this change, ... Full story
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Toronto G20 Summit Security

Toronto G20 Summit Security
On May 19th, 2010 a firebombing of a Royal Bank of Canada (RBC) took place, which invoked many fears of violence in the Toronto summit of G20, which is occurring this week. The group, which was responsible for the attack on the bank branch, calls themselves FFFC, and they uploaded a video onto YouTube, which showed ... Full story
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RBC Introduces Innovative Financial Management Tool to RBC Clients: myFinanceTracker

RBC Introduces Innovative Financial Management Tool to RBC Clients: myFinanceTracker
On May 31st, 2010 Royal Bank of Canada (RBC) launched myFinanceTracker, Canada’s first financial management tool integrated into an online banking system. myFinanceTracker is a tool which automatically categorizes transactions, tracking your expenses and providing you with advanced budgeting capabilities for all of your personal banking and credit card accounts. James McGuire, vice president, Digital Strategy and Experience at RBC explained that myFinanceTracker is a client inspired ... 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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