(Bloomberg) — Earnings disappointments at Toronto-Dominion Bank and Canadian Imperial Bank of Commerce capped a tough quarter for Canada’s six largest lenders, with the industry sideswiped by rising provisions for soured loans and slumping capital markets.Both Toronto-Dominion and CIBC reported fiscal fourth quarter results that missed analysts’ estimates Thursday, after setting aside more money for loan losses and posting declining profits in capital markets and Canadian banking. Toronto-Dominion also was affected by a C$154 million ($117 million) restructuring charge, with the majority covering severance packages, echoing measures taken by Bank of Montreal earlier in the week that marked the industry’s …read more
Source:: Yahoo Finance
