Housing, debt concerns weigh on banks as they report Q2 results
TORONTO — Canadian banks are expected to benefit from rising U.S. interest rates and fewer bad loans in the oilpatch as they start reporting their quarterly results this week, but analysts say worries about the housing market and consumer debt remain key concerns.
“Given all of the fears about the Canadian mortgage market, I think that even if the results are good, people will dismiss them as being backward-looking,” said Meny Grauman of Cormark Securities. The Bank of Montreal will report Wednesday, followed by RBC, TD Bank and CIBC Thursday. Scotiabank will report May 30.