Industry Report Card: Schedule I Canadian Banks: The Personal And Commercial Banking Engine Keeps Roaring Jun 07
Standard & Poors, June 2007
Abstract
The major Canadian banks are maintaining strong underlying domestic personal and commercial (P&C) business, including wealth management momentum this year. Credit metrics are normalizing, however, putting some pressure on profitability, but the impact is likely to be more pronounced in 2008. Standard & Poor's Ratings Services believes that the banks' domestic retail platforms will once again be the earnings growth engine for the balance of 2007 on the back of still-strong mortgage and personal loan lending volumes. Bank of Montreal (BMO; A+/Stable/A-1) is the exception here, as its domestic P&C bank faces challenges, including the difficult task of fixing its market risk governance infrastructure. The Canadian banks continue to show strong growth in personal loans, residential mortgages, and business loans,...
Companies mentioned in this report are:
- Royal Bank of Canada
- Toronto-Dominion Bank
- Bank of Montreal
- The Bank of Nova Scotia
- Canadian Imperial Bank of Commerce
- National Bank of Canada
- Laurentian Bank of Canada
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
- Royal Bank of Canada
- Toronto-Dominion Bank
- Bank of Montreal
- The Bank of Nova Scotia
- Canadian Imperial Bank of Commerce
- National Bank of Canada
- Laurentian Bank of Canada
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