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Banking

Canada banks’ quarterly profits seen hit by rising provisions

A sign for the Bank of Montreal in Toronto, Ontario, Canada December 13, 2021. REUTERS/Carlos Osorio/File Photo Acquire Licensing RightsTORONTO, Nov 27 (Reuters) - Canada's big banks are likely to wrap up a challenging financial year with another quarter of declining profits and rising bad debt provisions amid a slowing economy.The big six banks have axed thousands of jobs this year as investment banking fees lagged and business south of the border weakened due to the U.S. regional banking crisis.While high interest rates have boosted the banks' lending margins, residential...
Banking

US bank profits set to rise on higher rates while Wall Street lags

NEW YORK, Oct 10 (Reuters) - Profits at the biggest U.S. consumer lenders are likely to rise in the third quarter, in contrast with investment banks still facing a dealmaking slump, analysts said.JPMorgan Chase (JPM.N), which kicks off earnings for big U.S. lenders Friday, will set the tone for large banks. It is predicted to post a roughly 25% jump in earnings per share (EPS) versus a year earlier, LSEG estimates showed.Goldman Sachs (GS.N) and Citigroup (C.N) are expected to report the biggest EPS declines of 35% and 26% respectively,...