Post by
TimeBuilder on Dec 06, 2022 2:48pm
FYI: Fitch comments
11:46 AM EST, 12/06/2022 (MT Newswires) -- Fitch Ratings said Tuesday that lower non-interest income and higher provisions against credit losses negatively impacted six Canadian federal domestic systemically important banks as they reported moderately pressured adjusted earnings for the fiscal fourth quarter.
The six D-SIBs reported aggregate adjusted earnings of $14.7 billion during the quarter, up 0.4% from the previous quarter, and 2% lower than the year-ago quarter.
"Credit quality measures reached an inflection point, registering slight deterioration at most banks after eight consecutive quarters of broad improvement across the group," the rating agency noted.
On aggregate, impaired loans across the banks rose by 1.4% year over year. Increased impairments were broad-based, with little evident stress in mortgage portfolios, Fitch said.
Price: 130.22, Change: -2.79, Percent Change: -2.10
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