reports
- Michael Driscoll
- Shokhrukh Temurov
- Josh Veenkamp
- Michael Driscoll
- Shokhrukh Temurov
Canadian Banking Sector to Remain Resilient Amid Pressure from Elevate...
In the current environment, DBRS Morningstar expects that financial performance and credit quality at Canadian Financial Institutions (FIs) could come under increased pressure in the coming quarters. DBRS Morningstar has released a commentary discussing potential implications of elevated interest rates for the Canadian Banking sector, focusing on the large banks and Desjardins. Key highlights include: -- Due to the lagging impact of monetary policy and continued absorption of systemwide exces...
RY. ROYAL BANK OF CANADA 4.90% PFD. SERIES W
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BMO. BANK OF NOVA SCOTIA PFD.
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BNS.PR.F TORONTO-DOMINION BANK C PFD.
RY.PR.W BANK OF MONTREAL
CM_po BANK OF MONTREAL CL B SERIES 25 PFD.
BMO_pr BANK OF MONTREAL CL B SERIES 10 PFD.
BNS_pb BANK OF MONTREAL- PFD
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RY.PR.A ROYAL BANK OF CANADA - PREF SHARE
RY.PR.C NATIONAL BANK OF CANADA PFD. SERIES 15
RY.PR.E NATIONAL BANK OF CANADA- PFD
RY.PR.F NATIONAL BNK CAN PFD.
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RY_pj CANADIAN IMPERIAL BANK OF COMMERCE SERIES 32 PFD.
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NA.PR.A BANK OF NOVA SCOTIA 5-YEAR PFD. SERIES 32
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TD.PF.B BANK OF MONTREAL SERIES 44 CLASS B
TD_pfd NATIONAL BANK OF CANADA PFD SERIES 40
TD_pfe TORONTO-DOMINION BANK
TD.PF.H ROYAL BANK OF CANADA
BNS_pd NATIONAL BANK OF CANADA
BNS.PR.Y BANK OF NOVA SCOTIA
BNS.PR.Z CANADIAN IMPERIAL BANK OF COMMERCE
- Maria Khoury
- Michael Driscoll
- Maria Khoury
- Michael Driscoll
- Maria Khoury
- Michael Driscoll
- Maria Khoury
- Michael Driscoll
Desjardins Group: Lower Q2 2022 Earnings as P&C Insurance Performance ...
Desjardins Group reported Q2 2022 net income of $477 million, a quarter-over-quarter decline of 8%, primarily owing to higher operating expenses and provision for credit losses, partially offset by an increase in net interest income.
- Maria Khoury
- Michael Driscoll
- Maria Khoury
- Michael Driscoll
Desjardins Group Reports Strong Q1 2022 Earnings as Margins Improve
Desjardins Group reported Q1 2022 net income of $519 million, an increase of 32% quarter-over-quarter, as higher net interest income and lower insurance expenses were partially offset by net investment losses and lower premium income.
- Michael Driscoll
- Shokhrukh Temurov
Canadian Banks to Benefit From Interest Rate Increases, but Relative S...
DBRS Morningstar expects that Canadian banks will benefit from increases in interest rates by the Bank of Canada, the U.S. Federal Reserve, as well as central banks in emerging markets. The Bank of Canada and the Federal Reserve could raise rates five or six times in 2022. Indeed, the Bank of Canada and the Federal Reserve started this process with their March rate hikes of 25 basis points (bps). Overall, higher interest rates will be earnings-positive for the banks and their asset-sensitive bal...
RY. HSBC BANK MALTA PLC
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BMO. ROYAL BANK OF CANADA 4.90% PFD. SERIES W
CM BANK OF MONTREAL PFD.
HCG BANK OF NOVA SCOTIA PFD.
NA BANK OF MONTREAL PR B PFD.
HSB NATIONAL BANK OF CANADA PR X PFD.
BNS.PR.F TORONTO-DOMINION BANK C PFD.
RY.PR.W BANK OF MONTREAL
CM_po BANK OF MONTREAL CL B SERIES 25 PFD.
BMO_pr BANK OF MONTREAL CL B SERIES 10 PFD.
BNS_pb BANK OF MONTREAL- PFD
BMO_py DESJARDINS GROUP
NA.PR.W ROYAL BANK OF CANADA PFD.
BMO.PR.B ROYAL BANK OF CANADA 1ST PFD.
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BMO.PR.A ROYAL BANK PR P PFD.
BMO_ps ROYAL BANK PR Q PFD.
1733Z ROYAL BANK OF CANADA - PREF SHARE
RY.PR.A NATIONAL BANK OF CANADA PFD. SERIES 15
RY.PR.C NATIONAL BANK OF CANADA- PFD
RY.PR.E NATIONAL BNK CAN PFD.
RY.PR.F LAURENTIAN BANK OF CANADA
RY_pz LAURENTIAN PR J PFD.
RY_pj CANADIAN IMPERIAL BANK OF COMMERCE CL A
RY_pm CANADIAN IMPERIAL BANK OF COMMERCE SERIES 32 PFD.
RY_pp CANADIAN IMPERIAL BANK OF COMMERCE PFD. CL A
RY_pq TORONTO DOMINION PFD.
RYPRT TORONTO-DOMINION BANK D PFD.
RY/TO TORONTO DOMINION BANK
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NA_ps BANK OF NOVA SCOTIA PRD PFD.
NA.PR.A BANK OF NOVA SCOTIA 5-YEAR PFD. SERIES 30
LB_ph BANK OF NOVA SCOTIA 5-YEAR PFD. SERIES 32
LB.PR.J BANK OF NOVA SCOTIA PR G PFD.
CM_pq BANK OF MONTREAL SERIES 44 CLASS B
TD.PF.B NATIONAL BANK OF CANADA PFD SERIES 40
TD_pfd TORONTO-DOMINION BANK
TD_pfe ROYAL BANK OF CANADA
TD.PF.H NATIONAL BANK OF CANADA
BNS_pd BANK OF NOVA SCOTIA
BNS.PR.Y CANADIAN IMPERIAL BANK OF COMMERCE
- Maria Khoury
- Michael Driscoll
Desjardins Group Reports Lower Q4 2021 Results but Strong Overall Earn...
Desjardins Group reported Q4 2021 net income of $393 million, a quarter-over-quarter decline of 52%, as higher noninterest and insurance expenses were partially offset by premium income growth, net investment gains, and lower provisions for credit losses.
- John Mackerey
- Michael Driscoll
Desjardins Group Reports Solid Q3 2021 Results, Low Credit Costs
Desjardins Group (Desjardins or the Group) reported Q3 2021 net income of $816 million, a 13% decline quarter over quarter (QoQ), as net investment losses and higher provisions for credit losses (PCL) were partially offset by growth in net interest income and premium income as well as by lower operating expenses.
- Maria Khoury
- Michael Driscoll
Desjardins Group: Rating Report
On July 15, 2021, DBRS Morningstar confirmed the ratings of Desjardins and the Fédération des caisses Desjardins du Québec’s (FCDQ) Long-Term Issuer Ratings at AA and Short-Term Issuer Ratings at R-1 (high). DBRS Morningstar also confirmed the Long-Term Senior Debt rating for Capital Desjardins Inc. at A (high). The trends on all ratings are Stable. Desjardins’ rating is composed of an Intrinsic Assessment of AA (low) and a Support Assessment of SA2, which is based on the expectation that the Go...
- Maria Khoury
- Michael Driscoll
Desjardins Group Reports Higher Q2 2021 Earnings Buoyed by Strong Insu...
Desjardins Group reported Q2 2021 net income of $935 million, an increase of 17% quarter over quarter, as net investment gains and higher net interest income were partially offset by an increase in both operating and insurance expenses.
- Maria Khoury
- Michael Driscoll
- Maria Khoury
- Michael Driscoll
Desjardins Group Reports Lower Q1 2021 Earnings Due to Fair Value Adju...
Desjardins Group reported Q1 2021 net income of $798 million, a decline of 8.9% quarter-over-quarter, as net investment losses and lower net interest income were partially offset by a decline in provisioning and insurance expenses.
- Michael Driscoll
- Sohail Ahmer
Desjardins Group: Q4 2020 Core Earnings Improve Despite Higher Provisi...
Desjardins Group reported Q4 2020 net income of $876 million, a 20% increase quarter over quarter, driven by solid revenue generation across all business segments partially offset by higher provision for credit losses (PCL). Positively, F2020 net income increased by 5.7% to $2.4 billion despite a sharp 140% year-over-year increase in PCL to $863 million.
- Michael Driscoll
- Sohail Ahmer
Desjardins Group: Earnings Continue to Recover in Q3 2020 with Provisi...
Desjardins Group (Desjardins or the Group) reported Q3 2020 net income of $729 million, a 38% increase quarter over quarter, as provisioning expenses declined and both the Personal and Business Services (PB&S) and the Property and Casualty Insurance (P&C) segments generated solid growth. DBRS Limited (DBRS Morningstar) notes that, although the Coronavirus Disease (COVID-19) pandemic may affect Desjardins' near-term performance, the Group remains well positioned to mitigate the impacts.
- Michael Driscoll
- Sohail Ahmer
- Michael Driscoll
- Sohail Ahmer
Desjardins Group: Q2 2020 Earnings Improve Substantially; Provisioning...
Desjardins Group (Desjardins or the Group) reported Q2 2020 net income of $529 million, an 86% increase quarter over quarter (QOQ), as a decline in provisioning expense, investment gains, and growth in the caisse network was somewhat tempered by weaker performance in the Property & Casualty Insurance (P&C) segment.
- Michael Driscoll
- Sohail Ahmer
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