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$101.41-0.07(-0.07%)
- Bank of Montreal$77.47-0.07(-0.09%)
- Royal Bank of Canada$99.09+0.41(+0.42%)
- Royal Bank of Canada$75.63+0.17(+0.23%)
- Bank of Nova Scotia$81.82-0.17(-0.21%)
- Bank of Nova Scotia$62.47-0.22(-0.35%)
- Toronto-Dominion Bank$69.44+0.17(+0.25%)
- Toronto-Dominion Bank$53.03+0.06(+0.11%)
- Canadian Imperial Bank of Commerce$88.96-0.13(-0.15%)
- Canadian Imperial Bank of Commerce$116.49-0.01(-0.01%)
- Updated February 17 4:00 PM EST. Delayed by at least 15 minutes.