Overview
- This week the six largest Canadian banks reported third-quarter results for the period ended July 31 that broadly beat analyst expectations.
- Strong capital-markets performance and higher domestic banking revenue were the main drivers of the outperformance across multiple lenders.
- BMO’s adjusted profit rose but reported net income fell after a large charge tied to planned divestitures and the bank announced a 25‑million share buyback.
- TD said it will seek approval to open 100 U.S. branches by the end of 2028 and confirmed it is addressing gaps in its U.S. anti‑money‑laundering controls.
- Adjusted return on equity rose across the group and credit provisions were generally lower or in line with forecasts, though analysts warn trading revenues can be cyclical and U.S. approvals and trade tensions remain watch points.