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CanadianBankNews - 2026-07-12
Canada's housing supply shortage remains a long-term affordability issue. Even when rates move or sales slow, new construction, zoning reform, labour capacity and project financing still shape how quickly homes can be added.
- Housing supply is an affordability issue, not only a real estate market issue.
- Construction delays, approvals and financing can limit how quickly new homes are built.
- First-time buyers should compare affordability using current rates and realistic monthly costs.
Read fixed guideCanadianBankNews - 2026-07-11
RBC Avion Rewards is our No. 1 overall pick for Canadian bank loyalty because it offers a broad major-bank ecosystem and flexible travel-oriented redemption choices, but the best program depends on how each Canadian earns and redeems rewards.
- RBC Avion is the strongest overall program for flexible travel and redemption choice.
- Scene+, TD Rewards, CIBC Aventura and BMO Rewards are worth comparing.
- Cash back may be better than points for readers who want simple dollar value.
Read fixed guideCanadianBankNews - 2026-07-12
If scammers drain your account, your bank's responsibility depends on whether the transaction was unauthorized, whether you protected credentials, how quickly you reported it, and what the investigation finds.
- Unauthorized fraud and authorized payment scams are treated differently.
- Report suspicious activity to your bank immediately and keep the case number.
- If you disagree with the bank's decision, escalate through the bank, then OBSI where eligible.
Read fixed guideGlobe and Mail - Business • 2026-08-28
Escalating trade tensions between Canada and the U.S. are creating uncertainty in the housing market, potentially dampening buyer and seller confidence despite
AI summary
Escalating trade tensions between Canada and the U.S. are creating uncertainty in the housing market, potentially dampening buyer and seller confidence despite recent improvements in national home sales. Meanwhile, Quebec's rental market is an outlier, with rents declining slower than in other Canadian cities due to supply dynamics. The article also explores what $800,000 can purchase in Ontario's cottage country and highlights a heritage farm property.
Key takeaways
- Trade war creates housing market uncertainty.
- Quebec rents are not declining significantly.
- Cottage country prices vary by location and type.
Globe and Mail - Business • 2026-08-28
The Vancouver real estate market is experiencing a robust summer driven by young buyers receiving significant financial assistance from their parents for down p
AI summary
The Vancouver real estate market is experiencing a robust summer driven by young buyers receiving significant financial assistance from their parents for down payments. This intergenerational wealth transfer helps younger buyers qualify for larger mortgages and purchase family-sized properties, with gifted down payments in B.C. averaging $204,000. Parents are also contributing to monthly mortgage payments, enabling their children to enter or move up in the housing market.
Key takeaways
- Parental gifts are a key driver of Vancouver's real estate market.
- Average down payment gifts in B.C. are substantial, aiding mortgage qualification.
- Parents are also assisting with monthly mortgage payments for their children.
Globe and Mail - Business • 2026-08-28
Laurentian Bank reported a net income of $1.5 million for its third quarter, a significant decrease from the previous year. This result reflects ongoing efforts
AI summary
Laurentian Bank reported a net income of $1.5 million for its third quarter, a significant decrease from the previous year. This result reflects ongoing efforts to complete its planned sale and transformation into a specialty commercial bank. The bank expects to finalize the sale of its operations to Fairstone Bank and National Bank later this year.
Key takeaways
- Laurentian Bank's Q3 net income was $1.5 million.
- Adjusted earnings per share decreased year-over-year.
- The bank is proceeding with its sale to Fairstone and National Bank.
Globe and Mail - Business • 2026-08-28
Three of Canada's largest banks, RBC, TD, and CIBC, reported quarterly earnings that surpassed analyst expectations, signaling confidence in the Canadian econom
AI summary
Three of Canada's largest banks, RBC, TD, and CIBC, reported quarterly earnings that surpassed analyst expectations, signaling confidence in the Canadian economy's resilience amidst trade uncertainty. Bank executives highlighted manageable loan delinquencies and continued client spending and investment, despite potential dampening effects of U.S. tariffs. The banks have set aside provisions for trade risks, with outlooks contingent on factors like the unemployment rate and potential economic shocks.
Key takeaways
- RBC, TD, and CIBC earnings exceeded analyst estimates.
- Banks express confidence in Canada's economic resilience to trade uncertainty.
- Provisions for trade and policy risks have been set aside by banks.
Globe and Mail - Business • 2026-08-27
Royal Bank of Canada, Toronto-Dominion Bank, and Canadian Imperial Bank of Commerce all reported earnings that exceeded analyst expectations, driven by strong p
AI summary
Royal Bank of Canada, Toronto-Dominion Bank, and Canadian Imperial Bank of Commerce all reported earnings that exceeded analyst expectations, driven by strong performance in capital markets, commercial banking, and wealth management. Bank executives expressed confidence in the Canadian economy's resilience to trade tensions, citing manageable loan delinquencies and ongoing client spending. TD Bank also announced plans to open 100 new U.S. branches, pending regulatory approval.
Key takeaways
- Major Canadian banks beat earnings expectations.
- Banks express confidence in Canadian economy's resilience.
- TD Bank plans significant U.S. branch expansion.
TD - Media Room • 2026-08-27
TD Bank Group reported strong third-quarter 2026 results, with reported net income increasing to $4.6 billion and adjusted net income rising 21% year-over-year.
AI summary
TD Bank Group reported strong third-quarter 2026 results, with reported net income increasing to $4.6 billion and adjusted net income rising 21% year-over-year. Canadian Personal and Commercial Banking achieved record revenue and earnings, driven by deposit and loan growth and higher margins. U.S. Banking also saw significant net income growth, with positive loan trends and strong performance in wealth management.
Key takeaways
- TD Bank Group reported a significant increase in Q3 2026 net income.
- Canadian Personal and Commercial Banking delivered record revenue and earnings.
- U.S. Banking segment experienced substantial net income growth.
Globe and Mail - Business • 2026-08-27
Three of Canada's largest banks, RBC, TD, and CIBC, have reported profits exceeding analyst expectations, signaling confidence in the Canadian economy's resilie
AI summary
Three of Canada's largest banks, RBC, TD, and CIBC, have reported profits exceeding analyst expectations, signaling confidence in the Canadian economy's resilience amidst trade tensions. Despite concerns over tariffs, banks noted manageable loan delinquencies and set aside provisions for potential economic challenges. TD also announced plans to expand its U.S. branch network, pending regulatory approval.
Key takeaways
- Major Canadian banks exceeded profit forecasts.
- Banks express confidence in the Canadian economy.
- TD plans U.S. branch expansion.
Globe and Mail - Business • 2026-08-26
National Bank of Canada reported third-quarter earnings that surpassed analyst expectations, with net income climbing 23% to $1.31 billion, driven by strong per
AI summary
National Bank of Canada reported third-quarter earnings that surpassed analyst expectations, with net income climbing 23% to $1.31 billion, driven by strong performance in capital markets. CEO Laurent Ferreira acknowledged ongoing tariff uncertainty between Canada and the U.S. will impact businesses and consumers, but expressed confidence in the domestic market's resilience. The bank increased its provisions for credit losses, particularly in its international specialty financing business, as impaired loans rose year-over-year.
Key takeaways
- National Bank's Q3 earnings beat expectations, with net income up 23%.
- CEO notes tariff uncertainty but sees resilience in Canadian market.
- Provisions for credit losses increased, driven by international segment.
Financial Post - Banking • 2026-08-26
Bunzl Canada has donated 68,000 rolls of toilet paper to Food Banks Canada to address hygiene poverty, a growing issue exacerbated by rising housing and living
AI summary
Bunzl Canada has donated 68,000 rolls of toilet paper to Food Banks Canada to address hygiene poverty, a growing issue exacerbated by rising housing and living costs. This initiative highlights the challenge many Canadians face in affording basic necessities due to financial insecurity. The donation aims to provide essential hygiene products to vulnerable individuals and families across the country.
Key takeaways
- Bunzl Canada donated 68,000 toilet paper rolls.
- Hygiene poverty is a growing concern in Canada.
- Rising living costs impact access to essentials.
Globe and Mail - Business • 2026-08-25
Two major Canadian banks, BMO and Scotiabank, reported third-quarter earnings that exceeded analyst expectations despite ongoing trade tensions with the U.S. Bo
AI summary
Two major Canadian banks, BMO and Scotiabank, reported third-quarter earnings that exceeded analyst expectations despite ongoing trade tensions with the U.S. Both institutions indicated that while trade uncertainty presents a headwind, businesses are adapting well and significant loan losses are not anticipated. The banks' executives highlighted the resilience of the Canadian economy and the importance of trade diversification.
Key takeaways
- BMO and Scotiabank reported strong Q3 earnings, beating analyst forecasts.
- Banks report businesses are adapting well to trade uncertainty.
- Minimal loan loss exposure to trade disputes is expected.
TD - Media Room • 2026-08-25
TD Bank Group will release its third quarter 2026 financial results on Thursday, August 27, 2026, with details to be made available on the Investor Relations we
AI summary
TD Bank Group will release its third quarter 2026 financial results on Thursday, August 27, 2026, with details to be made available on the Investor Relations website. A conference call for analysts is scheduled for 9:30 a.m. ET to discuss the results and address questions. The presentations may include forward-looking statements regarding the Bank's performance.
Key takeaways
- TD Bank Group to release Q3 2026 results August 27.
- Conference call scheduled for 9:30 a.m. ET.
- Results and webcast available on Investor Relations website.
Globe and Mail - Business • 2026-08-25
Criterion, a home entertainment company, is establishing a brick-and-mortar presence in downtown Toronto in collaboration with its Canadian distributor, Cinema
AI summary
Criterion, a home entertainment company, is establishing a brick-and-mortar presence in downtown Toronto in collaboration with its Canadian distributor, Cinema Cellar. The new shop will open during the Toronto International Film Festival next month, offering a curated collection of films. This expansion follows the successful launch of Criterion's mobile video library at TIFF last year.
Key takeaways
- Criterion is opening a physical store in Toronto.
- Cinema Cellar is Criterion's Canadian distributor.
- The store will open during TIFF next month.
Globe and Mail - Business • 2026-08-25
Bank of Montreal and Bank of Nova Scotia reported third-quarter profits that exceeded analyst expectations, despite ongoing concerns about Canada-U.S. trade tar
AI summary
Bank of Montreal and Bank of Nova Scotia reported third-quarter profits that exceeded analyst expectations, despite ongoing concerns about Canada-U.S. trade tariffs impacting loan growth. Both banks indicated that clients directly affected by tariffs represent less than 1% of their loan portfolios and do not anticipate widespread loan losses. Executives from both institutions highlighted the resilience of the Canadian economy and the ability of businesses to adjust to the evolving trade environment.
Key takeaways
- BMO and Scotiabank beat profit estimates in Q3.
- Tariff impacts are limited to less than 1% of loan books.
- Banks expect loan losses from tariffs to be minimal.
Financial Post - Banking • 2026-08-25
Canadian consumer debt reached a record $2.64 trillion in Q2 2026, with total outstanding balances growing by 4.6% year-over-year. New mortgage growth slowed s
AI summary
Canadian consumer debt reached a record $2.64 trillion in Q2 2026, with total outstanding balances growing by 4.6% year-over-year. New mortgage growth slowed significantly due to persistent affordability pressures, while consumer insolvency rates rose, particularly for those without mortgages. Financial realities are diverging across households, with borrowing increasing for both high and low credit risk consumers.
Key takeaways
- Total Canadian consumer debt hit a record $2.64 trillion in Q2 2026.
- New mortgage origination growth slowed significantly year-over-year.
- Consumer insolvency rates increased, driven by non-mortgage debt.
BMO - Financial Performance • 2026-08-25
BMO Financial Group reported a decrease in reported net income for the third quarter of 2026 compared to the prior year, primarily due to a goodwill charge rela
AI summary
BMO Financial Group reported a decrease in reported net income for the third quarter of 2026 compared to the prior year, primarily due to a goodwill charge related to business sales. However, adjusted net income and earnings per share saw significant increases, driven by strong performance in Capital Markets and Wealth Management, alongside commercial loan growth in Canada and the U.S. The bank maintained a robust Common Equity Tier 1 ratio and announced an unchanged quarterly dividend, alongside plans for a new share repurchase program subject to regulatory approval.
Key takeaways
- Reported net income decreased, but adjusted net income increased significantly.
- Strong performance noted in Capital Markets and Wealth Management segments.
- BMO plans a new share repurchase program, pending regulatory approval.
Financial Post - Banking • 2026-08-24
Total Canadian consumer debt increased by 4.18% year-over-year in Q2 2026, with non-mortgage delinquency rates showing a slight national improvement but remaini
AI summary
Total Canadian consumer debt increased by 4.18% year-over-year in Q2 2026, with non-mortgage delinquency rates showing a slight national improvement but remaining elevated compared to the previous year. Ontario homeowners continue to face significant financial strain, with rising mortgage delinquencies impacting other debt obligations. First-time homebuyers are increasingly relying on co-borrowers, particularly in higher-cost markets like Ontario and British Columbia.
Key takeaways
- Total Canadian consumer debt rose to $2.68 trillion in Q2 2026.
- Ontario mortgage holders show persistent financial strain and rising delinquencies.
- First-time homebuyers increasingly use co-borrowers, especially in expensive markets.
Globe and Mail - Business • 2026-08-24
The proposed sale of Moneris Solutions Corp. to a U.S. firm highlights the interconnectedness of Canadian and U.S. financial systems, with Canadian banks heavil
AI summary
The proposed sale of Moneris Solutions Corp. to a U.S. firm highlights the interconnectedness of Canadian and U.S. financial systems, with Canadian banks heavily reliant on U.S. operations for revenue. Canadian financial institutions have long accepted U.S. regulatory reach as a cost of doing business in the American market. This integration means Canadian financial data has been subject to U.S. legal oversight for years, impacting privacy and compliance.
Key takeaways
- Canadian banks generate significant revenue from U.S. operations.
- U.S. regulatory oversight extends to Canadian financial institutions.
- Canadian financial infrastructure is already largely integrated with U.S. systems.
Globe and Mail - Business • 2026-08-23
Young adults in Canada are increasingly using alternative financing companies for cosmetic surgeries due to quick approval processes, though these loans often c
AI summary
Young adults in Canada are increasingly using alternative financing companies for cosmetic surgeries due to quick approval processes, though these loans often carry significantly higher interest rates than traditional bank loans or HELOCs. While these lenders can provide access to funds for procedures ranging from $8,000 to $15,000, borrowers should carefully consider the total cost of borrowing, which can range from 5.99% to 29.99% APR. The demand for cosmetic procedures is growing, particularly among millennials, but financial experts caution borrowers to assess their ability to repay, especially given potential changes in financial circumstances.
Key takeaways
- Alternative lenders offer cosmetic surgery loans with higher APRs than banks.
- Cosmetic procedures in Canada are expensive and rarely covered by health care.
- Millennials are driving growth in the cosmetic surgery financing market.
Globe and Mail - Business • 2026-08-21
National home sales have increased for the fourth consecutive month in July, with the home price index also seeing a slight rise, indicating potential market st
AI summary
National home sales have increased for the fourth consecutive month in July, with the home price index also seeing a slight rise, indicating potential market stabilization. In the Greater Toronto Area, Ajax has emerged as the top city for renters due to higher supply and stability, though affordability remains a concern. Meanwhile, some young condo owners are becoming "accidental landlords" as they rent out their units due to declining resale values and rising costs, often at a financial loss.
Key takeaways
- National home sales rose for the fourth straight month in July.
- Ajax is the best GTA city for renters based on supply and stability.
- Young condo owners are becoming accidental landlords due to market conditions.
Globe and Mail - Business • 2026-08-21
Prime Minister Mark Carney announced a $2.7-billion federal investment in low-interest loans and grants for 18 projects in Toronto, aiming to build 5,600 new re
AI summary
Prime Minister Mark Carney announced a $2.7-billion federal investment in low-interest loans and grants for 18 projects in Toronto, aiming to build 5,600 new rental homes, including a significant portion of non-market and supportive housing units. The initiative involves a partnership with the city, which is contributing capital and property tax abatements, with a goal of having 80 per cent of units under construction by year-end. While praised for addressing housing needs, some experts note that many sites were already in development pipelines and question the provincial government's absence from the funding commitment.
Key takeaways
- Federal government pledges $2.7 billion for new rental housing in Toronto.
- Initiative includes 5,600 new rental homes, with 32% designated as non-market.
- Provincial government participation is noted as absent from the housing announcement.
Financial Post - Banking • 2026-08-21
The Business Development Bank of Canada (BDC) plans to expand lending into sectors supporting economic sovereignty, following a successful foray into the defenc
AI summary
The Business Development Bank of Canada (BDC) plans to expand lending into sectors supporting economic sovereignty, following a successful foray into the defence industry. The BDC reported a record $11.6 billion in new investment and financing for small and medium-sized businesses in the past fiscal year, alongside a net income of $1.04 billion. Future strategic lending will focus on areas like critical minerals and quantum computing, mirroring models of international development banks.
Key takeaways
- BDC is expanding lending to bolster economic sovereignty.
- BDC reported record $11.6 billion in financing for SMEs.
- BDC achieved $1.04 billion in net income.
Globe and Mail - Business • 2026-08-20
Canadian financial institutions, including RBC, Scotiabank, TD Bank, National Bank, and Manulife, are updating employee policies to restrict participation in pr
AI summary
Canadian financial institutions, including RBC, Scotiabank, TD Bank, National Bank, and Manulife, are updating employee policies to restrict participation in prediction markets. These new rules aim to prevent conflicts of interest and potential insider trading, particularly for employees with access to material non-public information. The measures follow similar actions taken by U.S. financial firms in response to the growing popularity of these platforms.
Key takeaways
- Canadian banks are restricting employee access to prediction markets.
- Policies aim to prevent insider trading and conflicts of interest.
- New rules align with measures taken by U.S. financial institutions.
Globe and Mail - Business • 2026-08-20
Bank of Montreal is reorganizing its international capital markets business under a single leadership structure, with Richard Couzens expanding his role to head
AI summary
Bank of Montreal is reorganizing its international capital markets business under a single leadership structure, with Richard Couzens expanding his role to head international capital markets. This move comes as Canadian banks continue to focus on diversifying their business abroad through capital markets. The bank's Asia head, Chris Taves, is set to retire in early 2027.
Key takeaways
- BMO reorganizes international capital markets leadership.
- Richard Couzens to lead international capital markets.
- Asia head Chris Taves to retire in early 2027.
Globe and Mail - Business • 2026-08-20
The founder of China Evergrande Group, the world's most-indebted property developer, has been sentenced to life in prison by a Chinese court. This development f
AI summary
The founder of China Evergrande Group, the world's most-indebted property developer, has been sentenced to life in prison by a Chinese court. This development follows the firm's collapse five years ago, which significantly impacted China's economy and financial markets. The article does not contain information relevant to Canadian banking, mortgage policy, bank earnings, regulatory changes, or the Canadian housing market.
Key takeaways
- Evergrande founder sentenced to life in prison.
- Evergrande's collapse impacted China's economy.
- Article lacks Canadian financial news.
TD - Media Room • 2026-08-20
Raymond Chun, Group President and CEO of TD Bank Group, is scheduled to present at the Scotiabank Financials Summit in Toronto on September 9, 2026. The presen
AI summary
Raymond Chun, Group President and CEO of TD Bank Group, is scheduled to present at the Scotiabank Financials Summit in Toronto on September 9, 2026. The presentation will be accessible via a live and archived audio webcast on TD's investor relations website. TD Bank Group, with $2.1 trillion in assets as of April 30, 2026, operates across Canadian Personal and Commercial Banking, U.S. Banking, Wealth Management and Insurance, and Wholesale Banking.
Key takeaways
- TD CEO to speak at Scotiabank summit.
- Presentation webcast will be available online.
- TD reported $2.1 trillion in assets in April 2026.
Globe and Mail - Business • 2026-08-20
CIBC has appointed Prasanna Gopalakrishnan, a veteran tech executive with extensive experience in financial services, technology, and artificial intelligence, t
AI summary
CIBC has appointed Prasanna Gopalakrishnan, a veteran tech executive with extensive experience in financial services, technology, and artificial intelligence, to its board of directors. Her appointment, effective September 1st, aims to leverage her deep expertise in these areas for the bank. Gopalakrishnan's background includes leadership roles at ADP, Sky, and Bank of America.
Key takeaways
- CIBC adds tech executive Prasanna Gopalakrishnan to its board.
- Gopalakrishnan brings expertise in financial services, tech, and AI.
- Appointment is effective September 1st.
Globe and Mail - Business • 2026-08-19
Royal Bank of Canada has appointed former Ontario minister Caroline Mulroney as vice-chair, leveraging her public service and financial expertise to strengthen
AI summary
Royal Bank of Canada has appointed former Ontario minister Caroline Mulroney as vice-chair, leveraging her public service and financial expertise to strengthen global client and business leader relationships. Her role will involve advising on evolving government policy and regulatory developments impacting clients, particularly during a period of US and European business expansion for RBC. This appointment follows a similar move by CIBC, which hired Mark Mulroney, Caroline's brother, to lead its CEO office.
Key takeaways
- RBC hires Caroline Mulroney as vice-chair.
- Mulroney will advise on policy and regulatory changes.
- Appointment occurs during RBC's global expansion.
Globe and Mail - Business • 2026-08-19
A recent survey indicates that most Canadian homeowners are managing increased mortgage payments as interest rates remain elevated, with delinquency rates stayi
AI summary
A recent survey indicates that most Canadian homeowners are managing increased mortgage payments as interest rates remain elevated, with delinquency rates staying low compared to other developed nations. While a significant portion of homeowners anticipate higher payments upon renewal and expect financial strain, the majority plan to absorb these costs through reduced discretionary spending rather than changing living arrangements. Despite concerns, a widespread mortgage default crisis has not materialized, with only a small percentage reporting missed payments or extended amortization periods.
Key takeaways
- Most Canadian homeowners are managing higher mortgage payments.
- Mortgage delinquency rates remain remarkably low in Canada.
- Many homeowners will reduce discretionary spending to meet higher payments.
Financial Post - Banking • 2026-08-19
A recent Royal LePage survey indicates that over a third of Canadian homeowners renewing mortgages taken out during the pandemic anticipate higher payments due
AI summary
A recent Royal LePage survey indicates that over a third of Canadian homeowners renewing mortgages taken out during the pandemic anticipate higher payments due to increased interest rates. Despite this, a significant majority plan no changes to their living arrangements, with many expecting to reduce discretionary spending. While anxieties exist, particularly in major urban centers, overall mortgage delinquency rates remain below pre-pandemic levels.
Key takeaways
- 38% of Canadian mortgage holders expect higher renewal payments.
- 71% of homeowners will not change living arrangements.
- Mortgage delinquency rates are below pre-pandemic levels.
Globe and Mail - Business • 2026-08-18
Canada Mortgage and Housing Corp. reported that the annual pace of housing starts slowed by 5% in July compared to June, reaching a seasonally adjusted annual r
AI summary
Canada Mortgage and Housing Corp. reported that the annual pace of housing starts slowed by 5% in July compared to June, reaching a seasonally adjusted annual rate of 229,074 units. Actual housing starts in urban centres with populations over 10,000 decreased by 19% year-over-year in July. Despite the slowdown in new starts, the number of completed construction units rose 8.1% from June.
Key takeaways
- National housing starts pace fell 5% in July.
- Urban housing starts down 19% year-over-year.
- Completed construction units increased 8.1% in July.