TSX:EQB - Post Discussion
Post by
retiredcf on Sep 10, 2023 2:39pm
Provision for Credit Loss
EQB has done very well since your recommendation, but recently dropped off. In general, the big 6 Canadian Bank put aside lots of Provision for Credit Loss(PCL). How much did EQB allocate for PCL? IMHO, it is likely higher than the big 6 as it is basically a secondary mortgage lender.
In Q2, EQB had provisions for credit losses of $15M, well above what was set aside for the prior year ($5.2M). However, on a percentage of total loans, this is actually lower than most banks. (5iResearch)
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