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Bay Street in Toronto, Ontario is seen here Thursday Feb. 9, 2012.
Bay Street in Toronto, Ontario is seen here Thursday Feb. 9, 2012.
(Tim Fraser For The Globe and Mail)

Don’t get too excited over banks’ positive numbers

When Canadian banks rolled out their quarterly results this week, you may have felt emboldened: Amid cautious predictions, banks delivered impressive numbers and injected some new enthusiasm into the sector.

But don’t leap into a buying frenzy just yet.

For sure, banks have been doing better-than-okay. Earnings at Royal Bank of Canada, for example, hit a new record high of $2.3-billion during the quarter.