Canada’s five largest banks have collectively made profits of $31.7 billion in the past year, up $2 billion from the year before but they are warning of challenging times ahead.
Canada’s five largest banks have collectively made profits of $31.7 billion in the past year, up $2 billion from the year before but they are warning of challenging times ahead. The issues facing the energy sector together with global economic woes and the high level of consumer debt are all likely to weigh heavily on the banks in 2015. Analysts say that concern over household debt and the economy, especially given the latest GDP and jobs data, is likely to see a downturn in some lending next year although home loans are still expected to see growth. Read the full story.
