‘Fierce competition’ for mortgages persists as borrowing slows
— The Globe and Mail
Desjardins Group is dealing with a perplexing problem. Despite hustling to grow its loan book, the cooperative is making less on the overall portfolio.
During the first nine months of 2012, Desjardins’ loan book grew by 7 per cent, yet total net interest income actually fell 1 per cent from the same period last year, settling in around $2.9-billion. That’s a frustrating 8 per cent gap.