The final numbers are in, and the business of lending to Canadian consumers and businesses is slowing significantly in recent months.
All six of Canada’s largest banks have now released their second-quarter results. As of Wednesday, when four banks had put out numbers, the slowdown in revenue and profit growth was quite stark, as Streetwise wrote. Thursday, after Royal Bank of Canada and Canadian Imperial Bank of Commerce put out their numbers, the trends look a little less unfriendly. RBC, the biggest bank, had a good quarter and that helped buoy the results. But the fact remains that revenue, profit and loan losses are all looking not as good as of the end of the second quarter as at the end of the first.