Canada’s banks bank on resilience and the quarter pays out
He pointed analysts toward federal investment in energy, power infrastructure, and shipbuilding as a source of lending opportunities, in remarks reported by CBC News.
Ferreira described the retooling of the Canadian economy as a chance to deploy the bank’s balance sheet.
Valuations
John Zechner, chairman of Toronto-based J Zechner Associates, told CBC News that both Scotiabank and BMO booked lower-than-expected loan loss provisions.
“The economy up to this point has been relatively resilient in Canada,” Zechner said, adding that conditions are “going to get tougher.”
Jefferies analyst John Aiken, writing ahead of the results, told The Globe and Mail that “the market continues to shrug off concerns and allocate record high multiples,” and that earnings will need to grow into current prices.
