Canadian banks 'feel good' about prospects

Globe and Mail

Canada's banks appear to be optimistic that their mortgage growth won't slow much more in the near term, but they are also  seeking to show that they can keep up with their profits elsewhere.  Three of the largest six banks have reported their third-quarter earnings so far, giving some insights into their mortgage businesses.  Macquarie Securities analyst Jason Bilodeau notes that the Royal Bank of Canada's residential mortgage book grew 1.2 per cent from the prior quarter, Bank of Nova Scotia's 0.7 per cent. and Bank of Montreal's 1.5 per cent. (On a year-over-year basis, growth was 4.1 per cent, 3.2 per cent and 8.4 per cent, respectively.)

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Michael James

Michael James

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CENTURY 21 Explorer Realty Inc., Brokerage*
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