Overview
- All six major Canadian banks completed second-quarter reporting on May 27–28, 2026, and collectively beat analysts’ profit forecasts driven by stronger fee and trading revenue.
- Several banks posted materially lower provisions for credit losses compared with a year earlier, which directly boosted reported earnings by reducing the amounts set aside for sour loans.
- Capital-markets and wealth units were key profit drivers at multiple lenders, with CIBC, BMO and RBC citing higher trading and advisory revenue as major contributors to their beats.
- CIBC confirmed a deal to sell its 91.67% stake in CIBC Caribbean to Butterfield for US$1.6 billion, and many banks used improved results to announce dividend increases and fresh share-repurchase plans.
- Costs and risks vary across the sector: TD reported higher expenses tied to anti-money‑laundering remediation in the U.S., Scotiabank took extra provisions for a specific international corporate exposure, and banks said they will balance capital returns with regulatory capital cushions going forward.