Canadian banks to show mixed Q4 earnings as mortgage renewals, rate cuts loom By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 02 2024
0mins
Source: Investing.com
Earnings Growth and Challenges: Four of Canada's six largest banks are expected to report increased earnings for the fourth quarter, despite facing challenges such as high interest rates and rising costs of living. However, TD Bank and Bank of Montreal are projected to see declines in earnings.
Mortgage Renewal Competition: With upcoming mortgage renewals and recent rate cuts, there is potential for increased competition among lenders, as many consumers may face higher payments and seek better rates, particularly with a significant amount of variable-rate mortgages set to renew in the coming years.
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Analyst Views on BNS
Wall Street analysts forecast BNS stock price to fall
10 Analyst Rating
4 Buy
6 Hold
0 Sell
Moderate Buy
Current: 82.690
Low
68.69
Averages
75.58
High
79.76
Current: 82.690
Low
68.69
Averages
75.58
High
79.76
About BNS
The Bank of Nova Scotia (the Bank) is a chartered Schedule I bank. The Bank is a global financial services provider offering a range of products and services, including personal, commercial, corporate and investment banking. Its segments include Canadian Banking, International Banking, Global Wealth Management, Global Banking and Markets, and Other. Canadian Banking segment provides a full suite of financial advice and banking solutions. Canadian Banking segment comprises retail banking and business banking. International Banking segment is a diverse franchise that provides financial advice and solutions to retail, corporate, and commercial clients. Its geographic presence spans over 15 countries including Mexico, Chile, and Peru. Global Wealth Management segment is comprised of wealth management and asset management businesses. Global Banking and Markets segment provides corporate clients with lending and transaction services, investment banking advice and access to capital markets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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