Post by
DeanEdmonton on Aug 26, 2022 12:49pm
This Quarters Results.
Not much to say, the verbage from management does not match the numbers. Another quarter of really medicore results. ROE bites, expenses are growing faster than revenue and loan growth is pretty anemic. Net interest margins did not improve, which would be expected given their business mix and the fact half their loans are funded with hot money. In fact rising interest rates are likely to supress loan demand in their target market. Loan loss provisions seem to be on the light side. The only postive is the growth in branch deposits.
Comment by
bubba9 on Aug 26, 2022 1:22pm
Take Optimum Mortgage results out of the mix. I dare you....
Comment by
DeanEdmonton on Aug 26, 2022 2:34pm
Yes, that would make them even uglier for sure.
Comment by
zforzebra on Aug 28, 2022 10:02am
DE, I'm not a shareholder yet but you paint a bad picture of the company. All the things you point out look factual. Another fact however is that their divs are stable and growing though slowly for a long time, so it does speak to the strength of the business model.
Comment by
zforzebra on Sep 07, 2022 9:38am
What the insurers of the mortgages go broke? Would the banks face a real loss then?
Comment by
bubba9 on Sep 07, 2022 12:23pm
And most insured mortgages are sold off through an MBS anyway. ...
Comment by
zforzebra on Sep 07, 2022 12:51pm
Yeah, gotta have cash to pick the deals. If these banks don't go under, every bank is cheap. CWB is one of the cheapest (with good reasons)