The chief executive officers of Canada’s Big Six banks were paid a collective $55-million in 2015. Are they worth it?
There was a time when this oligopoly of banks could coast on steady economic activity, strong loan growth, fat interest margins and little outside competition.
Now, the banks face a new era, forcing CEOs to adapt. They are cutting costs to meet slowing revenue growth, shifting resources from traditional branch banking to mobile banking, hiring tech-savvy executives to meet the threat from tech-savvy competitors – all while keeping an eye on rising loan losses tied to the struggling energy sector.Report Typo/Error
- Bank of Montreal$100.89+0.85(+0.85%)
- Bank of Montreal$74.27+0.22(+0.30%)
- Royal Bank of Canada$97.07+1.00(+1.04%)
- Royal Bank of Canada$71.46+0.31(+0.44%)
- Bank of Nova Scotia$78.52+0.55(+0.71%)
- Bank of Nova Scotia$57.80+0.07(+0.12%)
- Toronto-Dominion Bank$66.86+0.18(+0.27%)
- Toronto-Dominion Bank$49.21-0.13(-0.26%)
- Canadian Imperial Bank of Commerce$83.60-0.09(-0.11%)
- Canadian Imperial Bank of Commerce$113.57+0.51(+0.45%)
- Updated April 25 1:54 PM EDT. Delayed by at least 15 minutes.