Canada’s Big Six banks released their second-quarter earnings last week, and with profits cut in half, alarm bells were quick to sound in the business press. A closer look shows that most banks remained very healthy, with many earning well over a billion in the last three months. It bears reminding that 2011 to 2018 were banner years, bringing year-over-year record annual profits, which peaked at a staggering $45-billion in 2018—that’s $22-million per hour in profits, more than double what they were earning a decade earlier.
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