Skip to main content

The Globe and Mail

TD falls short of forecasts, RBC sees profits climb, CIBC slips

RBC Bank on Bay Street, Toronto. August 2, 2013

Gloria Nieto/The Globe and Mail

Three of Canada's big banks reported earnings Thursday. Here's a summary of how they stand.

TD profit climbs but falls short of forecasts

Toronto-Dominion Bank's fourth quarter earnings climbed higher, but fell short of analyst estimates and signalled a warning about future growth potential.

Story continues below advertisement

  • Profit amounted to $1.62-billion up from $1.60-billion over the same period in 2012
  • Earnings per share of $1.69, up from $1.67 per share a year earlier
  • Two-for-one stock split announced, effectively halving TD’s stock price
  • Read the full story
  • Check the stock price

The fourth-quarter figure included a $129-million restructuring charge related to "retail branch and real estate optimization initiatives."

RBC CEO Gord Nixon to retire, profit rises 11 per cent

Royal Bank of Canada's fourth-quarter profit extends the bank's streak of blockbuster earnings in 2013.

  • Bank chief Gord Nixon to retire next summer, Dave McKay to be named new CEO
  • Profit of $2.1-billion, up from $1.9-billion in the same period of 2012
  • Earnings per share $1.40, up from $1.25 a year prior
  • Read the full story
  • Check the stock price

CIBC earnings down

Canadian Imperial Bank of Commerce's profit slipped in the fourth quarter, capping off a year with muted growth.

  • Profit of $836-million, down slightly from the $852-million in the same quarter last year
  • Earnings per share $2.05, up from $2.02 a year prior
  • CIBC did not raise its dividend, a move that will surprise the investors
  • Read the full story
  • Check the stock price

Earlier this week:

Report an error Licensing Options
Comments

The Globe invites you to share your views. Please stay on topic and be respectful to everyone. For more information on our commenting policies and how our community-based moderation works, please read our Community Guidelines and our Terms and Conditions.

Please note that our commenting partner Civil Comments is closing down. As such we will be implementing a new commenting partner in the coming weeks. As of December 20th, 2017 we will be shutting down commenting on all article pages across our site while we do the maintenance and updates. We understand that commenting is important to our audience and hope to have a technical solution in place January 2018.

Discussion loading… ✨