TD beats analysts’ estimates, unveils plan to open 100 new U.S. branches
Canada's major banks, including TD, RBC, and CIBC, reported profits exceeding analyst expectations. Executives expressed confidence that the Canadian economy remains resilient despite potential trade and tariff pressures.
Why it matters
The stability of the Canadian banking sector is a critical indicator of the country's economic health amidst global trade uncertainty.
Bank towers are pictured in the financial district in Toronto. Bank executives signalled confidence in the Canadian economy's ability to withstand tariff pressures. Andrew Lahodynskyj/The Canadian Press
Three of Canada’s biggest banks posted profits that topped analysts’ expectations and signalled that the country’s economy can withstand tariff upheaval with the United States, bucking concerns over mounting trade and geopolitical uncertainty.
Royal Bank of Canada RY-T , Toronto-Dominion Bank TD-T and Canadian Imperial Bank of Commerce CM-T reported boosts in profit, capping off a week when each of the country’s six biggest banks beat estimates.
RBC chief executive officer Dave McKay said the bank’s clients are continuing to spend and invest, and loan delinquencies have remained manageable.
RBC bets on growth in Europe as businesses diversify trade
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