Tuesday February 23 kicked off ‘earnings week’ for Canada’s Big Six Banks. As a sector the economically sensitive banking sector underperformed for much of 2020. Obviously, the pandemic’s disruption of the economy and the impact on consumers had an impact. For Q1 the Big Six reported approximately $1.6 billion in combined credit losses. While this may seem enormous, this was well below what was expected.
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By Charles Marleau CIM® and William Mitchell CIM®
By Charles Marleau CIM® and William Mitchell CIM®
