The chief executive officers of Canada’s Big Six banks were paid a collective $55-million in 2015. Are they worth it?
There was a time when this oligopoly of banks could coast on steady economic activity, strong loan growth, fat interest margins and little outside competition.
Now, the banks face a new era, forcing CEOs to adapt. They are cutting costs to meet slowing revenue growth, shifting resources from traditional branch banking to mobile banking, hiring tech-savvy executives to meet the threat from tech-savvy competitors – all while keeping an eye on rising loan losses tied to the struggling energy sector.Report Typo/Error
- Bank of Montreal$96.49+0.26(+0.27%)
- Bank of Montreal$77.08+0.10(+0.13%)
- Royal Bank of Canada$94.00+0.33(+0.35%)
- Royal Bank of Canada$75.09+0.15(+0.20%)
- Bank of Nova Scotia$78.20+0.05(+0.06%)
- Bank of Nova Scotia$62.46-0.03(-0.05%)
- Toronto-Dominion Bank$65.14+0.12(+0.18%)
- Toronto-Dominion Bank$52.05+0.01(+0.02%)
- Canadian Imperial Bank of Commerce$86.14-0.02(-0.02%)
- Canadian Imperial Bank of Commerce$107.86+0.13(+0.12%)
- Updated July 25 11:50 AM EDT. Delayed by at least 15 minutes.