No one on Bay Street is allowed to gripe anymore. Hot markets are making for big profits.
The country’s biggest banks reported third-quarter earnings over the past week, and in many cases, their capital markets arms posted blockbuster earnings.The numbers speak for themselves:
RBC Dominion Securities
Reported a record profit of $641-million, up $255-million or 66 per cent, from the year prior. The annual comparison may not be the best, because of a weak third quarter in 2013, but RBC’s capital markets earnings still rose 26 per cent relative to the prior quarter. Trading revenues rebounded strongly last quarter, and the bank reported its highest underwriting and advisory fees in at least two years.