Overview

• Scotiabank posted Q2 net income of $2.03 billion, down from $2.09 billion a year ago after raising credit loss provisions to $1.4 billion.
• BMO reported a second-quarter profit of $1.96 billion, beating analyst forecasts while reserving $1.05 billion for potential loan defaults.
• National Bank’s Q2 earnings of $896 million topped estimates on strong trading revenue even as provisions climbed to $545 million.
• All three lenders lifted their dividends and both BMO and Scotiabank initiated share buyback programs to enhance shareholder returns.
• Bank executives pointed to trade policy uncertainty and sluggish loan growth as reasons for higher reserves but maintained confidence in future economic stability.