Canadian Banks Some of the Strongest in the World According to Recent Rankings
The Paragon Report Provides Stock Research on Toronto-Dominion Bank and The Bank of Nova Scotia
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 05/11/12 -- Canada's financial sector continues to be ranked as one of the world's safest. Four of Canada's banks rank in the top 10 of Bloomberg Markets' second annual world's strongest bank rankings, with another two ranking in the top 25. Bloomberg Markets magazine reported that since 2008 the nation's six banks spent a total of $37.8 billion in acquisitions. The Paragon Report examines investing opportunities in the Canadian Banking Sector and provides equity research on Toronto-Dominion Bank (NYSE: TD) (TSX: TD) and The Bank of Nova Scotia (NYSE: BNS) (TSX: BNS).
Access to full reports can be found at:
"We and our Canadian competitors are only able to do that because we have some flexibility as a result of our strength," says Gerald McCaughey, CEO of Canadian Imperial Bank of Commerce, which last year purchased a minority stake in American Century Investments from JPMorgan Chase & Co. "Over the longer term, this should actually help to maintain the strength of the Canadian banking system and its competitiveness."
Canadian bank stocks have greatly outperformed their U.S. counterparts. When comparing the Standard & Poor's/TSX Composite Commercial Banks Industry Index (STCBNK), which tracks Canada's eight publicly traded banks, to the U.S. KBW Bank Index (BKX), the STCBNK rose 4.8 percent compared with a 56 percent decline for the BKX in the four years ended on Dec. 31.
Paragon Report releases regular market updates on the Canadian Banking Sector so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous stock reports and industry newsletters.
TD Bank recently boosted its quarterly dividend four cents to 72 cents per share and reported earnings ahead of expectations. TD earned a first-quarter profit of $1.48 billion or $1.55 per share, down from $1.56 billion, or $1.67, a year ago. Revenues grew to $5.64 billion from $5.46 billion. Earnings adjusted for one-time costs totaled $1.76 billion or $1.86 per share, up from $1.61 billion or $1.73 per share a year ago, and 10 cents better than then average analyst expectation, according to those surveyed by Thomson Reuters.
Scotiabank reported first quarter net income of $1,436 million (CAD) compared with net income of $1,249 million (CAD) in the same period last year. Year over year, net income grew 15%. Diluted earnings per share were $1.20, compared to $1.08 in the same period a year ago, an increase of 11%. A dividend of 55 cents per common share was announced, an increase of 3 cents.
Paragon Report provides Market Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. The Paragon Report has not been compensated by any of the above-mentioned companies. We act as independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at:
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 11.05.2012 - 12:20 Uhr
Sprache: Deutsch
News-ID 145514
Anzahl Zeichen: 0
contact information:
Town:
NEW YORK, NY
Kategorie:
Investment Services & Trading
Diese Pressemitteilung wurde bisher 382 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Canadian Banks Some of the Strongest in the World According to Recent Rankings"
steht unter der journalistisch-redaktionellen Verantwortung von
Paragon Financial Limited (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
