Canadian PressCIBC saw its second-quarter profit grow by 3.3% despite an increase in provisions for soured loans to the oil and gas sector and writeoffs in its personal lending portfolios.
Oil prices are on the rise this morning, and the Canadian dollar along with them, better news for Canada's embattled energy patch.
National PostRoyal Bank of Canada (RBC) said on Thursday bad loans increased by $583 million, or 19 per cent, in the second quarter from the quarter before, largely due to a rise in credit to oil firms that had turned sour.
Onerous restrictions and costs are hindering Air Canada's ability to expand and compete internationally, the airline's CEO said Wednesday.
The Bank of Montreal said Wednesday it is cutting about 1,850 positions from its workforce as consumers shift more of their banking online and technological advancements allow it to digitize some of its operations.